Best credit card for good credit 2022: Reap the rewards
Credit cards are all based on the kind of credit you have — but not all of us have the ideal credit score for the application process.Â
If you’re one of the lucky ones who do have good credit, there are a few credit cards you really should consider. To make it easy for you to decide which one to get, these are our expert recommendations. ZDNet can help you find the right credit card for good credit.
Balance Transfer Fee N/A
Late Payment Fee Up to $40
Foreign Transaction Fees 2.7% of each transaction after conversion to US dollars.
Penalty APR 29.99% Variable
- 3% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%)
- 2% Cash Back at U.S. gas stations and at select U.S. department stores
- 1% Cash Back on other purchases
With the Blue Cash Everyday Card from American Express, you can earn extra rewards with $250 back in statement credits when you spend $2,000 within your first six months of having the card. There is 3% cashback on your grocery purchases, but after you reach $6,000 in purchases, the cashback amount drops to 1% thereafter. There is also 2% cashback when you use your card at U.S. gas stations and at participating department stores. All other purchases receive 1% off your purchases. Your cashback will be delivered as Rewards Dollars that you can redeem as a statement credit.Â
There is a 0% introductory APR lasting 15 months before going to a 13.99% to 23.99% variable APR. Plus, this card comes with a Buy Now, Pay Later plan, although watch out for the corresponding fees. There is a plan fee of up to 1.33% of all amounts moved to the Buy Now, Pay Later plan. You also get access to other Amex benefits, like payment flexibility that does not affect your rewards. If you order additional cards for friends and family, they can help you earn rewards with their monthly spending, too. This card is great for travel, too, with a 24/7 Global Assist Hotline and rental car insurance.Â
Pros
- No annual fee
- 0% introductory APR
- 3% back on gas, groceries, and department stores
Cons
- 1% cashback for most spending
- Must spend $2,000 for statement credit
- Spending caps apply
Intro Balance Transfer APRN/A
Balance Transfer Fee $0 at this Transfer APR
Balance Transfer APR15.99% – 23.99% (Variable)
Late Payment Fee Up to $40
Foreign Transaction Fees None
Penalty APR None
- Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
- Earn unlimited 2X miles on every purchase, every day.
The Capital One VentureOne Rewards Credit Card is the card frequent travelers want with extra miles for their travel needs. You will receive five miles for every dollar you spend on hotels and rental cars, but you must book through Capital One Travel to qualify. Miles can then be redeemed as statement credits you can use. There are over 15 loyalty programs to choose from, or you can choose to redeem your points on PayPal or Amazon.com purchases. You can take your time, too, because rewards never expire.
There is a variable APR of 26.99% and no annual fee. If you use your card outside of the U.S., you can save with no foreign transaction fees. You also receive Capital One’s regular benefits like emergency replacement cards and access to the Capital One Lounge.
Pros
- Flat rewards rate
- No annual fee
- PayPal redemption
Cons
- Higher APR
- Limited rewards
- No intro APR
Intro Balance Transfer APR0% Intro APR on Balance Transfers for 15 months
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.
Balance Transfer APR14.99% – 23.74% Variable
Foreign Transaction Fees 3% of each transaction in U.S. dollars
Penalty APR Up to 29.99%
- Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more;
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service
- 1.5% on all other purchases
This card is all about the rewards. With the Chase Freedom Unlimited card, you get 1.5% cashback for every $1 spent. For road warriors, you also get extra travel bonuses with 5% cashback on travel purchased through Chase Ultimate Rewards. You will receive travel insurance in the form of trip cancellation or interruption reimbursement of up to $1,500 per person and $6,000 per trip.Â
The card also includes 3% back on restaurants and dining, including take-out, plus 5% cashback on all Lyft rides through March. Your drugstore purchases will earn you 3% back, so you can earn while picking up those prescriptions or sundries. New cardholders will also receive a $200 bonus after just $500 in purchases within the first 90 days of having the card, plus there is 5% cashback when you use your card at gas stations, up to $6,000. When you are ready to redeem your points, there is no minimum to cash them in through Ultimate Rewards.
There is no annual fee, and Chase offers an introductory 0% APR for your first 15 months of having the card.
Pros
- Flexible rewards
- No annual fee
- Introductory APR
Cons
- Lower reward rate
- Increasing balance transfer fee
- Redemption restrictions
Intro Balance Transfer APR0% for 18 months
Balance Transfer Fee 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Balance Transfer APR11.99% – 22.99% Variable
Late Payment Fee None the first time you pay late. After that, up to $40.
Foreign Transaction Fees None
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
- Earn 1% unlimited cash back on all other purchases – automatically.
If you want rotating rewards, this could be the card for you. With the Discover it Balance Transfer Credit Card, you can earn 5% each quarter in a different category. Categories can include grocery stores, restaurants, gas stations, PayPal, and even Amazon.com. However, rewards are capped each quarter, although no annual fee helps ease the sting. For other purchases, you earn 1% cashback. Discover will also match your spending dollar-for-dollar in the first year as a welcome gift. For this, there are no minimum spending requirements, and there is no maximum for your earnings. Your rewards can be traded for cash, and you can take your time redeeming because there is no expiration date for cashback.Â
As a Discover cardholder, you will receive access to its signature benefits, like free social security number alerts and a free FICO credit score on your monthly statements.
Pros
- Rotating categoriesÂ
- 0% intro APR for 18 months
- No annual fee
Cons
- Capped rewards
- It can be difficult to track earnings
- Limited benefits
Foreign Transaction Fees $0
- Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
- 1% cash back on eligible purchases right away.
The Petal 2 Visa Credit Card is issued by WebBank, a member of FDIC. It comes with a credit limit of up to $10,000, and cashback ranges from 1% to 1.5% based on whether you make timely payments or not. There is also bonus cashback ranging from 2% to 10% when you shop at participating merchants. You receive a variable APR of 12.99% to 26.99% depending on the creditworthiness of your purchases.Â
However, Petal makes a name for itself with no fees whatsoever for your Petal 2 Visa card. There are no annual or foreign transaction fees, and if you are running a little late on your payment, there are no late or returned payment fees. This enables cardholders to build credit while still earning cashback. There is also the added convenience of compatibility, using your card to pay through Apple Pay or Google Pay on your phone.
Pros
- No fees
- Cashback with timely payments
- Average credit accepted
Cons
- Rewards can be confusing
- No introductory offer
- No cash advances or transfers
How did we choose these credit cards?
In looking for the best credit cards for good credit, we considered several factors.
- Type of credit card: How you plan to use your card will help you find the right one for your financial needs. There are many different kinds of cards, such as those designed to build credit or earn travel rewards. Finding the right one for your spending can help you save a lot of money.
- Rewards: Consider what kind of rewards you can earn with your credit card. While many offer cashback, others may offer other perks like travel miles instead.
- APR: The APR on credit cards for good credit can vary significantly, depending on the company and benefits that come with the card. Before choosing a card, consider how much interest you will have to pay on each purchase.
- Introductory offer: Many cards will offer new cardholders exclusive offers like a 0% APR or cash back up to a certain threshold.
- Balance transfer: Balance transfers can help when you need to consolidate debt. That is why it is important to consider the fees for balance transfers in order to save money.Â
Which is the right credit card for you?
There are many credit cards out there, but not all of them may allow anything but excellent credit. These cards could be a great fit when you have good credit, depending on your financial goals.
|
Choose this product… |
If you want… |
|
Blue Cash Everyday Card from American Express |
Cashback on your gas and groceries |
|
Capital One Venture Rewards Credit Card |
Flexible travel rewards |
|
Chase Freedom Unlimited |
A sign-up bonus with cashback |
|
Discover it Balance Transfer |
When you make regular balance transfers |
|
Petal 2 Visa Credit Card |
To improve your credit |
How do credit cards work?
Credit cards are a card typically made of plastic or metal that allows you to pay for purchases and then pay them back later with interest. You will have a line of credit that allows you to make purchases up to a certain amount, and you can also receive rewards for your spending.Â
Why should I use a credit card?
Credit cards can be a great way to build your credit score with regular use and timely payments over time. They also can earn your rewards while offering additional benefits like fraud protection and credit score monitoring. Consider your financial standing to help you find the right credit card for good credit.Â
What is the best credit card for good credit?
The best credit card for good credit depends on your financial goals. While some cards allow you to earn cash back rewards, others may reward you with travel miles or other rewards.Â
Are there alternative cards worth considering?
There are many credit cards available today that accept good credit. These are some other options that may be worthy of your consideration:
- Blue Cash Preferred Card from American Express: Great for groceries
- Capital One Quicksilver Cash Rewards Credit Card: Best for 1.5% cashback
- Capital One Venture X Rewards Credit Card: A no-frills credit card
- Citi Custom Cash Card: Best for tailored rewards
- Discover it Cash Back: Recommended for everyday spendingÂ
- U.S. Bank Visa Platinum Card: A long-term intro APR
- Wells Fargo Active Cash Card: Earn 2% cash rewards
For other credit card options, consider our picks for the best starter credit card for no credit, the best crypto credit cards, and our picks for 2022’s most exclusive credit cards.
