Best of
Best Mastercard Credit Cards of January 2020
NerdWalletJanuary 6, 2020
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Our pick for
Flat-rate cash back
on Citibank's application
on Citibank's application
Annual Fee
$0
Rewards Rate
1%-2%
Intro offer
$0
Recommended Credit Score
The Citi® Double Cash Card – 18 month BT offer is one of the best rewards cards on the market, partly because it’s so simple: You get straight cash back — there are no points or bonus categories to keep track of. Cardholders can shop as they normally would and get a high rewards rate on every purchase.
The Citi® Double Cash Card – 18 month BT offer is one of the best rewards cards on the market, partly because it’s so simple: You get straight cash back — there are no points or bonus categories to keep track of. Cardholders can shop as they normally would and get a high rewards rate on every purchase.
Pros
The card offers a 2% cash-back rate on all purchases: You get 1% back on every dollar you spend and another 1% back when you pay off your purchases, for an annual fee of $0.Cons
This offer does not include a sign-up bonus or a 0% intro APR period on purchases, nor does the card have any bonus categories. Higher cash-back percentages can be had on different cards for specific categories. There’s a minimum cash-back redemption of $25.- Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- To earn cash back, pay at least the minimum due on time.
- Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.49% – 25.49%, based on your creditworthiness.
- Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
- Balance Transfers do not earn cash back.
- The standard variable APR for Citi Flex Plan is 15.49% – 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
Our pick for
Bonus category cash back
on Bank of America's website, or call (877) 754-6706
on Bank of America's website, or call (877) 754-6706
Annual Fee
$0
Rewards Rate
1%-3%
Intro offer
$200
Recommended Credit Score
The option to pick a 3% cash-back category among a list of six makes the Bank of America® Cash Rewards credit card a flexible pick, and it can become even more valuable if you qualify for the Preferred Rewards program.
The option to pick a 3% cash-back category among a list of six makes the Bank of America® Cash Rewards credit card a flexible pick, and it can become even more valuable if you qualify for the Preferred Rewards program.
Pros
This card offers useful options for your 3% cash back category: gas, travel, dining, drugstores, online shopping or furniture/home improvement stores. You also get 2% cash back at grocery stores and wholesale clubs. (The 3% and 2% rewards are capped at $2,500 in combined spending per quarter; all other spending earns 1% back.) Cardholders eligible for the Bank of America® Preferred Rewards program earn higher rewards rates. The annual fee is $0.Cons
It has a complicated rewards structure, and spending caps make it most appealing for low spenders. If you're a big spender with excellent credit and willing to pay an annual fee, there are cards with higher rewards. Even a flat-rate cash-back Mastercard might be better.- No annual fee
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
- Earn 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases
- 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 15.49% - 25.49% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers
- No expiration on rewards
- If you're a Preferred Rewards member, you can earn 25% - 75% more cash back on every purchase
Our pick for
Balance transfers
on Citibank's application
on Citibank's application
Annual Fee
$0
Rewards Rate
N/A
Intro offer
0
Recommended Credit Score
The long 0% intro APR period for balance transfers on the Citi Simplicity® Card - No Late Fees Ever makes this a solid card if you need breathing room to pay off debt.
The long 0% intro APR period for balance transfers on the Citi Simplicity® Card - No Late Fees Ever makes this a solid card if you need breathing room to pay off debt.
Pros
This card is for someone who needs extra time to pay down debt. It has an annual fee of $0, and it offers an introductory APR of 0% on Balance Transfers for 21 months and 0% on Purchases for 12 months, and then the ongoing APR of 16.24% - 26.24% Variable APR, not to mention no late fees.Cons
The card charges a balance transfer fee of 5% or $5, whichever is greater. You can’t transfer balances from other Citi accounts, and you won't earn rewards. The 0% intro APR period for purchases is significantly shorter than for transfers.- No Late Fees, No Penalty Rate, and No Annual Fee... Ever
- 0% Intro APR on balance transfers for 21 months from date of first transfer. All transfers must be completed in first 4 months. After that, the variable APR will be 16.24% - 26.24%, based on your creditworthiness.
- 0% Intro APR on purchases for 12 months from date of account opening. After that, the variable APR will be 16.24% - 26.24%, based on your creditworthiness.
- If you transfer a balance with this offer, after your 0% Intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balances, are paid in full
- The standard variable APR for Citi Flex Plan is 16.24% - 26.24%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
- Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges.
Our pick for
Fair/average credit
on Capital One's website
on Capital One's website
Annual Fee
$39
Rewards Rate
1.5%
Intro offer
$0
Recommended Credit Score
The Capital One® QuicksilverOne® Cash Rewards Credit Card offers those with average credit a chance to earn rewards and gain access to a higher credit line after making the first five monthly payments on time.
The Capital One® QuicksilverOne® Cash Rewards Credit Card offers those with average credit a chance to earn rewards and gain access to a higher credit line after making the first five monthly payments on time.
Pros
The card offers a solid ongoing rewards rate with no need to track bonus categories. You simply earn unlimited 1.5% cash back on all purchases.Cons
The card charges an annual fee of $39. You would need to spend $2,600 per year on the card to make that back. And unlike some other cash-back cards, it doesn’t allow you to boost your rewards earnings with bonus categories.- Earn unlimited 1.5% cash back on every purchase, every day
- Earn cash rewards without signing up for rotating categories
- Get access to a higher credit line after making your first 5 monthly payments on time
- Monitor your credit profile with the CreditWise® app, free for everyone
- $0 fraud liability if your card is ever lost or stolen
- No limit to how much cash back you can earn, and cash back doesn't expire for the life of the account
- Help strengthen your credit for the future with responsible card use
- Get customized alerts and manage your account with the Capital One mobile app
See if you qualify for a better offer with Capital One:
Our pick for
Small business
on Bank of America's website
on Bank of America's website
Annual Fee
$0
Rewards Rate
1.5x
Points
Intro offer
25,000
Points
Recommended Credit Score
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is just right for business owners who want a travel card with robust ongoing rewards but no fee.
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card is just right for business owners who want a travel card with robust ongoing rewards but no fee.
Pros
This card with an annual fee of $0 offers generous rewards of 1.5 points for every dollar spent, and 3 points per dollar spent on eligible travel purchases booked through Bank of America®. It also comes with a plum sign-up bonus for a no-fee card: Earn 25,000 bonus points when you make at least $1,000 in net purchases within 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases. It charges no foreign transaction fees.Cons
Higher reward rates are available on other no-fee small business cards. Other cards — especially cards with annual fees — also offer larger sign-up bonuses.- Earn 25,000 bonus points when you make at least $1,000 in net purchases within 60 days of your account opening which can be redeemed for a $250 statement credit towards travel purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
- Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center - powered by Expedia®.
- No annual fee and no international transaction fees.
- 0% Introductory APR on purchases for your first 9 billing cycles.
- Redeem points for travel with no blackout dates, cash back or gift cards.
- Get 75% more points on the base earn of every purchase you make when you're a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
Our pick for
College students
on Deserve's website
on Deserve's website
Annual Fee
$0
Rewards Rate
1%
Intro offer
$30
Recommended Credit Score
The Deserve® Edu Mastercard for Students is an excellent option for students who can’t qualify for a credit card because they lack a U.S. credit history, a Social Security number or both.
The Deserve® Edu Mastercard for Students is an excellent option for students who can’t qualify for a credit card because they lack a U.S. credit history, a Social Security number or both.
Pros
The card is ideal for students who can't get approved for other cards because they lack a credit history. International students who don't have a Social Security number may be able to qualify. That's because the issuer uses its own underwriting process to evaluate applications based on alternative criteria. Cardholders get unlimited 1% cash back on all purchases, a statement credit for a 12-month Amazon Prime Student subscription (up to $59) and a $30 statement credit every time you refer a friend who qualifies for the card.Cons
Rewards are redeemable only for statement credit, and you’ll have to wait until you have $25 in rewards (equal to $2,500 in spending) before you can redeem. Other cards offer higher rewards rates, if you can qualify for them.- New Deserve Card Members will receive $30 sign up bonus. Card members can also keep earning $30-$60 Cashback when they refer other cardholders.
- No SSN required for International students.
- Available to students (enrollment verification is required).
- Amazon Prime Student on us (get reimbursed for subscription fees up to a lifetime total of $59).
- 1% unlimited cash back on all purchases.
- Credit limits up to $5,000.
- $0 annual fee & no foreign transaction fees.
- No security deposit or co-signer required.
- Helps students build credit history and gain financial independence.
- Use anywhere in the world where Mastercard is accepted.
- Includes Mastercard Platinum Benefits like Travel Assistance Services, Extended Warranty, and ID Theft Protection
- Complimentary cellphone insurance up to $600.
Our pick for
Dining and entertainment
on Capital One's website
on Capital One's website
Annual Fee
$0
Rewards Rate
1%-3%
Intro offer
$150
Recommended Credit Score
If a night out is more than a once-in-a-while proposition, the Capital One® SavorOne® Cash Rewards Credit Card will fit neatly in your wallet.
If a night out is more than a once-in-a-while proposition, the Capital One® SavorOne® Cash Rewards Credit Card will fit neatly in your wallet.
Pros
The card pays 3% cash back on restaurant dining and entertainment, plus 2% cash back at grocery stores and 1% cash back on all other purchases. It has an annual fee of $0 with no foreign transaction fees or minimum requirements for redeeming.Cons
The card offers a good rate at grocery stores, but not extraordinary. If you buy most of your food at a supermarket, a card that pays 3% or more on grocery store purchases would be better.- Earn a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening
- Earn unlimited 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
- No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 15 months; 15.49% - 25.49% variable APR after that
- 0% intro APR on balance transfers for 15 months; 15.49% - 25.49% variable APR after that; 3% fee on the amounts transferred within the first 15 months
- No foreign transaction fee
- No annual fee
See if you qualify for a better offer with Capital One:
Last updated on January 6, 2020
Methodology
NerdWallet's credit cards team selects the best cards in each category based on overall consumer value. Factors in our evaluation include fees, promotional and ongoing APRs, and sign-up bonuses; for rewards cards, we consider earning and redemption rates, redemption options and redemption difficulty. A single card is eligible to be chosen in multiple categories.
