Best Credit Cards of 2024: 3 New Champs Hop to the Top
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With most things in life, what’s “best” is inherently subjective and depends on each person’s needs and perspective. It’s no different with credit cards. Even a card with tons of great perks won’t be the right fit for everyone.
When we pick the best credit cards each year, sometimes old winners are surpassed by new cards with superior benefits. In other instances, our picks reflect the new priorities of the people most likely to use the cards.
The three new winners in 2024 reflect both types of changes. Here are the cards that won and why they earned our votes this year.
Category: Best balance transfer credit card
2023 winner: BankAmericard® credit card
2024 winner: Citi Simplicity® Card
Why the Citi Simplicity® Card won: Basic math tells the tale of the Citi Simplicity® Card’s triumph over last year’s winner, BankAmericard® credit card. The Citi Simplicity® Card gives cardholders 21 months without interest on balance transfers compared with 18 billing cycles on the BankAmericard® credit card.
The initial balance transfer fee on both cards is 3%, the industry standard. Note, however, that the transfer fee on the Citi Simplicity® Card increases to 5% if the balance transfer is made after the first four months of account opening. On the BankAmericard® credit card, the 3% transfer fee is good for 60 days from account opening, then rises to 4%.
As a bonus, the Citi Simplicity® Card doesn’t charge late fees. Other cards, including the BankAmericard® credit card, can charge as much as $40 for a single late payment.
Category: Best airline credit card
2023 winner: Delta SkyMiles® Gold American Express Card
2024 winner: United℠ Explorer Card
Why the United℠ Explorer Card won: The Delta SkyMiles® Gold American Express Card had a long run as our top pick for airline credit card, and for good reason. Its perk of a free checked bag for you and up to eight (eight!) traveling companions each time you fly Delta is unmatched. Terms apply. But this year we named the United℠ Explorer Card as the 2024 winner by virtue of its credits and lounge access.
The United℠ Explorer Card offers up to a $100 credit every four years for Global Entry, TSA PreCheck or NEXUS, a nice perk that gets you through airport security faster. You can get a $100 statement credit with the Delta Gold, too — but you’ll have to spend a lofty $10,000 to qualify, and it's only good toward a Delta flight.
United℠ Explorer Card holders also get two lounge passes a year, good for entry into any of the over 45 United Club lounges. For a mid-tier travel card, that’s a really luxurious benefit. By contrast, the Delta SkyMiles® Gold American Express Card eliminated the ability to access the lounge for a $29 fee (and other Delta cards will restrict lounge access in the future).
Category: Best credit card for college students
2023 winner: Capital One Savor Student Cash Rewards Credit Card
2024 winner: Discover it® Student Chrome
Why the Discover it® Student Chrome won: Yes, the Capital One Savor Student Cash Rewards Credit Card has a higher rewards rate in some eligible spending categories than the Discover it® Student Chrome. The Discover card earns 2% cash back at gas stations and restaurants up to $1,000 in combined purchases each quarter; 1% thereafter. The Capital One card earns 3% cash back on several popular spending categories, including dining and purchases at grocery stores, but it lacks some key benefits that appeal to many students. The Discover it® Student Chrome offers:
A waiver on the first late payment fee.
A breather on interest for new purchases. The card has the following promotional APR: 0% intro APR on Purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months, and then the ongoing APR of 17.49%-26.49% Variable APR. A break from interest, even for just a semester, can be a big help in financing major purchases like textbooks.
A potentially big sign-up bonus. The Discover it® Student Chrome has the same welcome offer found in any one of Discover’s nonstudent cards: INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match. Say you spent $300 a month on your Student Chrome. Assuming a 1% cash back rate, you would come away with $72 by your account anniversary.
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