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Best Credit Cards of August 2022

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No single credit card is the best option for every family, every purchase or every budget. For this reason, Forbes Advisor has chosen the best credit cards in a way designed to be the most helpful to the widest variety of readers. Rather than selecting the “best credit card” and ranking the next nine options, we highlighted the best cards for a variety of situations.

The star ratings highlighted below show the card’s rating for its specific category. The global star rating can be found on the card review.

This list contains only personal Best Credit Cards. If you’re looking for a credit card for your business, consider our list of the best business credit cards. Here’s the list of Best Credit Cards.

Best Credit Cards of 2022

One of the Best Credit Cards

Chase Freedom Flex℠
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When paired with a premium Chase Ultimate Rewards®-earning card like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or Ink Business Preferred® Best Credit Cards, the Chase Freedom Flex℠ can earn powerful Chase Ultimate Rewards points. Even as a standalone cash back card, it’s tough to beat considering it also has no annual fee

Rewards: 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores and 1% on all other purchases

Welcome Offer: $200 bonus after spending $500 on purchases in the first 3 months from account opening

Annual Fee: $0

Other Benefits and Drawbacks: The Chase Freedom Flex℠ packs a huge punch for a card without an annual fee. The biggest downside to this card? You’ll have to remember to activate the quarterly bonus categories and track how much you’ve spent because the rotating categories have a $1,500 cap—at least if you’re planning to optimize your spending. This card does charge a foreign transaction fee so it is not a good choice if you plan to travel abroad.

Wells Fargo Active Cash® Card
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In a crowded market of 2% cash-back cards, the Wells Fargo Active Cash® Card stands out because of its introductory APR offer and Visa Signature benefits.

Rewards: 2% cash rewards on purchases

Intro APR Offer: 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 17.24%, 22.24%, or 27.24% variable APR applies. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a fee of up to 5%, with a minimum of $5 applies

Welcome Offer: $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months

Annual Fee: $0

Other Benefits and Drawbacks: The Wells Fargo Active Cash® Card offers cell phone protection when you pay your cell phone bill with the card each month. It charges a foreign transaction fee so it is not a good choice for use abroad.

Capital One Venture X Rewards Best Credit Cards
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The Capital One Venture X Rewards Best Credit Cards, launched in November 2021, was a big shake-up to the travel card market. It offers benefits similar to other premium travel rewards cards with a lower annual fee—making this card a great option for even the occasional traveler.

Rewards: 2 miles per dollar on all eligible purchases, 5 miles per dollar on flights booked through Capital One Travel and 10 miles per dollar on hotels and rental cars when booking via Capital One Travel

Welcome Offer: 75,000 bonus miles after spending $4,000 on purchases within the first three months of account opening

Annual Fee: $395

Other Benefits and Drawbacks: In addition to the ability to earn solid rewards, the Capital One Venture X Rewards Credit Card offers up to $300 back annually as statement Best Credit Cards for bookings through Capital One Travel and 10,000 bonus miles on each card anniversary.

Cardholders receive a Priority Pass lounge membership, access to Capital One lounges and a Global Entry or TSA PreCheck application fee Best Credit Cards after paying for the application fee with the card.

Chase Sapphire Preferred® Card
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If you’re wanting to get into transferable points but the annual fees of the top-tier cards deter you, the Chase Sapphire Preferred® Card may be a good place to start.

Rewards: 5 points per dollar on travel purchased through Chase Ultimate Rewards®, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on all other purchases

Welcome Offer: 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening

Annual Fee: $95

Other Benefits and Drawbacks: Chase Ultimate Rewards® are both flexible and valuable, which is why the Chase Sapphire Preferred® Card makes our list. You have the ability to transfer Ultimate Rewards to a variety of airline frequent flyer programs and hotel chains, such as United Airlines and Hyatt, or make reservations without restrictions at a rate of 1.25 cents per point in the Chase travel portal. The Chase Sapphire Preferred® Card also offers best-in-class travel protections, though they’re not quite as good as the Chase Sapphire Reserve®’s coverage.

Chase Sapphire Reserve®
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Many trips have non-refundable elements that are tied to specific dates such as hotel or prepaid tour reservations. If you are interrupted or have to cancel your trip, you could be out a tremendous amount of money.

In addition to offering the ability to earn valuable points on purchases, the Chase Sapphire Reserve® offers trip cancellation and interruption insurance for covered situations, trip delay insurance, lost baggage and baggage delay insurance, primary rental car insurance and more. All of these best-in-class protections helped this card top the list for the best travel rewards Best Credit Cards.

Rewards: 5 points per dollar on air travel and 10 points per dollar on hotels and car rentals when purchasing travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3 points per dollar on other travel and dining and 1 point per dollar spent on all other purchases

Welcome Offer: 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening

Annual Fee: $550

Other Benefits and Drawbacks: The high annual fee of this premium rewards card comes with up to $300 in travel Best Credit Cards that are applied automatically when you make qualifying purchases and the ability to enroll in a complimentary Priority Pass Select airport lounge membership.

Chase Ultimate Rewards points are transferable to a large number of travel partners including United Airline MileagePlus and World of Hyatt. Points are redeemable on Chase’s travel portal or using the Pay Yourself Back feature where they’re worth 1.5 cents each.

The Platinum Card® from American Express
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If you’re after a luxury travel experience, especially if you want access to a variety of airport lounges, The Platinum Card® from American Express (Terms apply, See rates and fees) is a good choice. It’s packed full of other benefits and perks, too.

Rewards: 5 Membership Rewards points per dollar for flights booked directly with airlines or with American Express Travel on up to $500,000 per calendar year, 5 points per dollar on prepaid hotels booked with American Express Travel and 1 point per dollar on other eligible purchases

Welcome Offer: 100,000 Membership Rewards points after spending $6,000 on purchases on the card in the first 6 months of card membership

Annual Fee: $695

Other Benefits and Drawbacks: The Platinum Card® from American Express is packed full of additional benefits. For starters, you’ll benefit from access to a number of different airline lounges: Amex Centurion Lounges, over 1,200 Priority Pass airport lounges (excluding restaurant locations, enrollment required), and Delta SkyClubs when flying Delta same-day.

Cardholders will also receive up to $200 in airline incidental statement Best Credit Cardswith the eligible airline they select each year (enrollment required), valid for purchases such as seat selection and checked bags. Additionally, cardholders will receive a statement Best Credit Cards to cover the TSA PreCheck or Global Entry application fee and annual CLEAR membership, plus up to $200 annually in Uber Best Credit Cards ($15 per month plus a $20 bonus in December when your eligible card is linked to your Uber account, good for U.S. Uber Eats and rides). The Platinum Card also offers Gold status with both Hilton Honors and Marriott Bonvoy with enrollment.

In 2021, the Platinum Card added additional lifestyle benefits to the card with enrollment including up to $300 in annual Equinox credits in $25-per-month statement Best Credit Cards towards the Equinox+ digital fitness app, or eligible Equinox club memberships, up to a $300 bike statement Best Credit Cards when you purchase a SoulCycle at-home bike, monthly Walmart+ membership fee credit and up to $240 (doled out monthly in $20 increments) in digital entertainment statement credit for subscriptions to eligible services which include Audible and the New York Times, and a few other select services.

Read our The Platinum Card® from American Express review to learn more.

Discover it® Student Cash Back
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The Discover it® Student Cash Back offers a unique combination of strong earning rates and a welcome bonus not typically seen in student cards. If leveraged properly, cardholders can earn some serious cash back.

Rewards: 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when paying with PayPal, up to the quarterly maximum once activated. Plus, automatically earn unlimited 1% cash back on all other purchases

Welcome Offer: Earn an Unlimited cashback match – Discover will automatically match all the cash back earned at the end of the first year. There’s no minimum spending or maximum rewards

Annual Fee: $0

Other Benefits and Drawbacks: Discover is not as widely accepted as Mastercard, Visa or even American Express if you plan to use it overseas. This is a drawback for students who travel or study abroad. The quarterly bonus categories may or may not fit how you spend, meaning you might not maximize your earning potential every single quarter and you need to remember to activate the bonus each quarter.

Wells Fargo Reflect® Card
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The Wells Fargo Reflect® Card has no annual fee and new cardholders get a best-in-class introductory period to pay down balances. Just remember that you only have 120 days to make the transfer before a higher balance transfer fee kicks in.

Annual Fee: $0

Balance Transfer Offer: Get a 0% intro APR for 18 months from account opening on purchases and qualifying balance transfers. An intro APR extension of up to 3 months with on-time minimum payments during the intro and extension periods is available. A 15.24% to 27.24% variable APR applies after that. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a balance transfer fee of up to 5%, min $5 applies.

Balance Transfer Fee: The fee for a balance transfer is up to 5%; min: $5.

Other Benefits and Drawbacks: To get the absolute longest balance transfer window, make sure not to make a late payment. If you do you may lose the three month extension offered for good payment behavior. The card also comes with up to $600 in cell phone protection when you pay your monthly bill with the card (subject to a $25 deductible) and access to roadside dispatch.

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