BEST CREDIT CARDS OF AUGUST 2024

Best Credit Cards of August 2024

Updated: Jul 24, 2024
Paul Soucy
Written by
Lead Assigning Editor
Sara Rathner
Reviewed by
Senior Writer
Kenley Young
Edited by
Fact Checked
Assigning Editor
Fact Checked
Paul Soucy
Written by
Lead Assigning Editor
Sara Rathner
Reviewed by
Senior Writer
Kenley Young
Edited by
Fact Checked
Assigning Editor
Fact Checked
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.

The best credit card is one that's best aligned with your specific needs. NerdWallet's credit card experts have reviewed and rated hundreds of options for the best credit cards of 2024 – from generous rewards and giant sign-up bonuses to long 0% APR periods and credit-building help, so you can find the best fit for your needs.

  • 250+ credit cards reviewed and rated by our team of experts

  • 80+ years of combined experience covering credit cards and personal finance

  • 100+ categories of best credit card selections (See our top picks)

  • Objective comprehensive ratings rubrics (Methodology)

NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.

  • 250+ credit cards reviewed and rated by our team of experts

  • 80+ years of combined experience covering credit cards and personal finance

  • 100+ categories of best credit card selections (See our top picks)

  • Objective comprehensive ratings rubrics (Methodology)

NerdWallet's credit cards content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in credit cards. Their work has appeared in The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC's "Today," ABC's "Good Morning America" and many other national, regional and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity.

Best Credit Cards of 2024: Building Credit

Best Building Credit Cards of August 2024

Credit card
NerdWallet rating
Annual feeIntro APRRegular APRApply now
Chime Secured Credit Builder Visa® Credit Card ImageChime Secured Credit Builder Visa® Credit Card
Apply Now
on Chime's website
on Chime's website

$0

N/A

N/A

Apply Now
on Chime's website
on Chime's website
Chase Freedom Rise® ImageChase Freedom Rise®
Apply Now
on Chase's website
on Chase's website

$0

N/A

26.99% Variable APR

Apply Now
on Chase's website
on Chase's website
Mission Lane Visa® Credit Card ImageMission Lane Visa® Credit Card
Apply Now
on Mission Lane's website
on Mission Lane's website

$0

N/A

29.99%-33.99% Variable APR

Apply Now
on Mission Lane's website
on Mission Lane's website
Capital One Quicksilver Secured Cash Rewards Credit Card ImageCapital One Quicksilver Secured Cash Rewards Credit Card

$0

N/A

29.99% Variable APR

Discover it® Secured Credit Card ImageDiscover it® Secured Credit Card

$0

10.99% intro APR on Balance Transfers for 6 months

28.24% Variable APR

save money

Find the right credit card for you.

Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.

Best Credit Cards of 2024 For

Building Credit

Best Building Credit Cards of 2024

Best for: Credit building with no interest

Chime Secured Credit Builder Visa® Credit Card card image
Apply Now
on Chime's website
on Chime's website
NerdWallet rating
4.6/5

Annual fee

$0

Regular APR

N/A

Intro APR

N/A

Minimum deposit

N/A

Recommended Credit Score

Chime Secured Credit Builder Visa® Credit Card card image
NerdWallet rating
4.6/5
Apply Now
on Chime's website
on Chime's website

Annual fee

$0

Regular APR

N/A

Intro APR

N/A

Minimum deposit

N/A

Recommended Credit Score

  • The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
  • No credit check to apply, no annual fees or interest⁴, and no minimum security deposit required.³ No stress! Additional terms apply.
  • Use your secured Credit Builder card everywhere Visa credit cards are accepted, including on everyday purchases, such as gas and groceries.
  • Help build your credit history with your own money. The money you move into the Credit Builder secured account is the amount you can spend on your card (no minimum deposit required!).³ Turn on Safer Credit Building² and have your monthly balance automatically paid on time. Chime will report your activities to Transunion®, Experian®, and Equifax®.
  • Increase your credit scores by an average of 30 points, with regular, on-time payments.¹
  • Turn on transaction notifications to receive real-time transaction alerts. Then, use Chime’s instant in-app disable card feature to help prevent unauthorized activities.
  • Live support 24/7 to assist you around the clock.
  • Now you can use your Credit Builder card fee-free at over 60K+ in-network ATMs at retailers like Walgreens®, CVS®, and more! Out-of-network ATM withdrawal fees may apply except at Moneypass ATMs in 7-Eleven® locations, or any Allpoint® or Visa Plus Alliance ATMs.
  • Apply for a secured Chime Credit Builder Visa® Credit Card once you sign up for a Chime Checking Account and receive a qualifying direct deposit of $200 or more. See www.chime.com to learn more.
Pros
  • No annual fee

  • No credit check to apply

  • No APR

  • Adjustable credit limit

Cons
  • Must open a Chime Checking Account

  • No rewards

  • No upgrade path

Best for: No-annual-fee card with rewards

Chase Freedom Rise® card image
Apply Now
on Chase's website
on Chase's website
NerdWallet rating
4.8/5

Annual fee

$0

Regular APR

26.99% Variable APR

Intro APR

N/A

Minimum deposit

N/A

Recommended Credit Score

Chase Freedom Rise® card image
NerdWallet rating
4.8/5
Apply Now
on Chase's website
on Chase's website

Annual fee

$0

Regular APR

26.99% Variable APR

Intro APR

N/A

Minimum deposit

N/A

Recommended Credit Score

  • Increase your approval chances - Having a Chase checking or savings account with a balance of at least $250 will increase your chances of getting approved for Chase Freedom Rise®
  • Earn Cash Back - With Chase Freedom Rise®, you can start building credit while earning 1.5% cash back on all purchases. Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
  • Earn a $25 statement credit after signing up for automatic payments within the first three months of opening your account. With automatic payments, just pick a date and dollar amount to make sure your Credit Card gets paid on time.
  • Credit Limit Increase - As a Freedom Rise cardmember, you'll be evaluated for a credit line increase in as soon as 6 months. Your credit line is the maximum amount of money you can spend on your Freedom Rise® Card
  • Free Credit Score - Track your credit score and learn how to build it with Chase Credit Journey.
  • No Annual Fee - You won't have to pay an annual fee for all the great features that come with your Freedom Rise® card.
  • Member FDIC
Pros
  • No annual fee

  • Earns rewards

  • Reports to the three major credit bureaus

Cons
  • High APR

  • No bonus categories

Best for: No-deposit alternative

Mission Lane Visa® Credit Card card image
Apply Now
on Mission Lane's website
on Mission Lane's website
NerdWallet rating
3.5/5

Annual fee

$0

Regular APR

29.99%-33.99% Variable APR

Intro APR

N/A

Minimum deposit

N/A

Recommended Credit Score

Mission Lane Visa® Credit Card card image
NerdWallet rating
3.5/5
Apply Now
on Mission Lane's website
on Mission Lane's website

Annual fee

$0

Regular APR

29.99%-33.99% Variable APR

Intro APR

N/A

Minimum deposit

N/A

Recommended Credit Score

  • $0 Annual Fee. Clear terms and transparent pricing.
  • See if you qualify instantly without harming your credit score.
  • Be automatically considered for a higher credit line in as few as 7 months.
  • Free, online credit score access for cardholders.
  • No interest on purchases when you pay in full and on time each month.
  • No security deposit required – get started today!
  • Enjoy coverage from Visa®.
  • Access your account anytime, anywhere with our mobile app.
  • If you are charged interest, the charge will be no less than $0.50.
Pros
  • Qualify with limited credit

  • No security deposit

  • Automatic credit-limit reviews

Cons
  • No upgrade path

  • No rewards

Capital One Quicksilver Secured Cash Rewards Credit Card card image
Apply Now
on Capital One's website
on Capital One's website
NerdWallet rating
4.9/5

Annual fee

$0

Regular APR

29.99% Variable APR

Intro APR

N/A

Minimum deposit

$200

Recommended Credit Score

Capital One Quicksilver Secured Cash Rewards Credit Card card image
NerdWallet rating
4.9/5
Apply Now
on Capital One's website
on Capital One's website

Annual fee

$0

Regular APR

29.99% Variable APR

Intro APR

N/A

Minimum deposit

$200

Recommended Credit Score

  • No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
  • Put down a refundable $200 security deposit to get a $200 initial credit line
  • Building your credit? Using a card like this responsibly could help
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
  • View Rates & Fees
Pros
  • Qualify with limited/bad credit

  • Reports to the three major credit bureaus

  • Earns rewards

  • No minimum redemption amount

  • Rewards don't expire

  • No annual fee

Cons
  • High APR

  • No new cardholder bonus offer

  • No bonus categories

Best for: Rewards, bonus offer & upgrading

Discover it® Secured Credit Card card image
Apply Now
on Discover's website,
on Discover's website, or call 800-347-0264
NerdWallet rating
5.0/5

Annual fee

$0

Regular APR

28.24% Variable APR

Intro APR

10.99% intro APR on Balance Transfers for 6 months

Minimum deposit

$200

Recommended Credit Score

Discover it® Secured Credit Card card image
NerdWallet rating
5.0/5
Apply Now
on Discover's website,
on Discover's website, or call 800-347-0264

Annual fee

$0

Regular APR

28.24% Variable APR

Intro APR

10.99% intro APR on Balance Transfers for 6 months

Minimum deposit

$200

Recommended Credit Score

  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit history.
  • Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
  • Terms and conditions apply.
  • View Rates & Fees
Pros
  • No annual fee

  • Reports to the three major credit bureaus

  • Qualify with limited/bad credit

  • Earns rewards

  • New cardholder bonus offer

Cons
  • Requires minimum deposit

  • High APR

[back to top]

• • • • •

A BEGINNER'S GUIDE TO CREDIT CARDS

The idea behind credit cards is simple: When you use a credit card, you are borrowing money to pay for something. Later on, you must repay what your borrowed. If you take time to pay it back (rather than pay it in full when your credit card statement comes), you'll be charged interest. The whole credit cards industry rests on this basic premise.

How credit cards work

A basic credit card transaction works like this:

  1. You use your card. When it comes time to pay for something, you use your card at the cash register by running it through a card reader (or, if you're online, you enter your card information on the checkout page).

  2. The purchase is authorized. The card reader contacts your credit card company to make sure the card is valid for the purchase amount. Assuming everything is OK, the transaction is authorized.

  3. The merchant gets paid. The bank that issued your credit card sends money for the purchase to the merchant where the transaction took place.

  4. You pay. The transaction shows up on your credit card statement, and you repay the bank for the purchase.

How credit card rewards work

Many of the best credit cards of 2024 give you rewards for your spending. Rewards come in two basic flavors:

  • Cash back. You can use cash back to directly reduce your balance. In some cases, you can have your cash back deposited in a bank account or sent to you as a check.

  • Points or miles. Points and miles can be redeemed for travel, gift cards, merchandise or other things. You may also have the option of redeeming points for credit on your statement, just like cash back.

The card issuer sets the rewards rate that applies on your card. There are two basic kinds of rewards structures:

  • Flat rate. You get the same rewards rate on all spending done with the card, regardless of what you spend money on. You might get 2 points per dollar on all purchases, or 1.5% cash back on everything.

  • Bonus rewards. You earn a base rate on all spending (typically 1 point per dollar or 1% cash back) and then higher rates in certain categories — 5% cash back at gas stations, for example, or 3 points per dollar spent on travel.

How credit card interest works

When you borrow money from a bank, you usually have to pay interest, which is the cost of using the bank's money. Credit cards are unusual in that there is a way to avoid interest entirely. Most cards offer a "grace period": If you pay your balance in full on each statement — meaning you don't roll over any debt from one month to the next — you won't be charged interest. If you carry debt, though, you'll be charged interest.

DIFFERENT TYPES OF CREDIT CARDS

Credit card companies in 2024 offer different kinds of cards to meet different consumer needs. Some people put a lot of money on their cards every month and then pay them off immediately; those people benefit from a card that returns a portion of their spending in the form of rewards. Others tend to carry a balance from month to month; they're better served with a card that offers a low ongoing interest rate. Still others are working to improve their credit; issuers have cards designed for those people, too.

Here are the major types of credit cards.

Rewards credit cards

These cards "pay you back" for a portion of your spending by giving you cash, points or miles. See our roundup of the best rewards credit cards of 2024 for a range of options for different types of users. Or look into specific types of rewards cards:

Interest-saving credit cards

Credit cards for building credit

The credit cards with the richest rewards, plushest perks, lowest interest rates and longest 0% periods are available only to those with good to excellent credit. If you're still building your credit (or rebuilding it after a misstep), you'll want to hold off on applying for these cards until your score improves. However, banks have designed cards specifically for people working to improve their credit.

CHOOSING THE BEST CREDIT CARD FOR YOU IN 2024

If you're a beginner to credit cards, see our step-by-step guide to choosing a credit card. It starts by helping you figure out what cards you can qualify for, then walks you through deciding what kind of card best fits your needs. The process in short:

  1. Check your credit.

  2. Decide on a broad card type.

  3. Narrow your choices.

  4. Apply for a card that gives you the best overall value.

Comparing credit card features

Every credit card delivers value in its own way, through its own unique combination of features. And there are trade-offs involved. If you want rewards, for example, you'll probably have to accept a higher interest rate. If you want high-value perks, you'll likely pay an annual fee. If you want a low interest rate and no fees, you shouldn't expect much else from the card. In other words, you're unlikely to find a single card that offers a high rewards rate, a long 0% period, a rock-bottom ongoing interest rate, generous perks and no annual fee.

Here are the main points of comparison when looking at credit cards.

Annual fee

Some people are dead-set against paying a fee just for the privilege of carrying a credit card. But paying an annual fee is worth it in certain circumstances. With any annual fee, the math comes down to whether the value you get from the card exceeds the dollar amount you pay. Still determined not to pay? See our best credit cards with no annual fee of 2024.

Other fees

Depending on what you plan to do with the card, you'll want to take these other fees into account:

Introductory interest rate

Credit card companies drum up business by offering people with good credit a low introductory interest rate.

Ongoing interest rate

The ongoing rate is what you pay after any introductory rate expires. Some cards charge a single rate for all cardholders; others allow for a range of rates depending on your creditworthiness. In general, the better your credit, the more likely you are to qualify for a low rate. That said, if you pay your balance in full every month, your interest rate doesn't actually matter because you're never charged interest.

Rewards

Cash-back cards refund a certain percentage of the purchase price. Other cards give you a certain number of points or miles per dollar spent. Every card sets its own rewards structure, so apples-to-apples comparisons can be difficult. But when comparing rewards programs, think in terms of:

  • Earn rate. What do you get for every dollar spent?

  • Redemption value. How much do you get for your rewards when it comes time to use them?

  • Redemption options. How much flexibility do you have in using your rewards?

Sign-up bonus

The sign-up bonus or welcome offer is a sum of cash (say, $150 or $200) or a batch of points or miles (say, 40,000 points or 50,000 miles) that you can earn by spending a certain amount of money in your first few months with a card. The purpose is to get you in the habit of using the card. The bonuses on many travel cards are often big enough to cover the card's annual fee for the first few years. See our best credit card sign-up bonuses of 2024.

Perks

Unlike rewards, which are what you receive for using a credit card, perks are benefits you get just for carrying a card. With some cards, particularly travel credit cards, it may be the perks that provide the bulk of the value. Premium credit cards, which have annual fees of $450 and up, tend to offer the cushiest perks. Airline credit cards and hotel credit cards can easily pay for their annual fee with their perks. A full list of potential perks would be too long to include here, but common examples include:

  • Airline/airport benefits. Lounge access. Free checked bags. Priority boarding. Elite status.

  • Hotel benefits. Free nights. Automatic room upgrades. Early check-in/late check-out. Free amenities. Elite status.

  • Statement credits. Automatic credit for such things as travel expenses, purchases from selected merchants or the application fee for trusted traveler programs such as TSA PreCheck and Global Entry.

  • Purchase protections. Extended warranties. Protection in case of theft or damage. Price protection (which refunds the difference if you find the same item cheaper elsewhere). Return guarantees.

  • Rental car coverage. Supplemental coverage on top of your own auto insurance policy, or even primary coverage in place of your own policy. Learn about credit card rental coverage and see our best cards for rental car coverage.

  • Cell phone insurance. Coverage in case of loss or damage. You usually have to pay for your service with your card to qualify. See our best cards for cell phone insurance.

  • Credit tracking and security. Free credit score. Credit monitoring services. Ability to "lock" your card.

Credit-building help

When you're looking to build or restore credit, several features are more important for you than for people who already have good credit.

  • Reporting to credit bureaus. If you're using your card responsibly, you want your credit score to reflect that. Make sure that your card reports payment activity to all three credit bureaus, the companies that assemble credit reports.

  • Deposit requirements. If you're getting a secured credit card, you'll need money for a security deposit. Minimum deposits are usually in the $200 to $300 range.

  • Upgrade opportunities. As your credit improves, it's nice to be able to upgrade your account to a better card.

  • Incentives for responsible behavior. Some cards might boost your rewards rate if you pay on time, or give you access to a higher credit line.

How many credit cards should you have?

Just as there is no single best credit card for everyone, there is no perfect number of credit cards to have. It depends on your needs and how much effort you want to put into managing your credit cards.

  • There's no limit to how many cards you can have. Each lender evaluates your credit on its own term, but there's no hard limit where you have "too many cards."

  • You don't need to have multiple cards to maintain good credit score. Credit scoring formulas tend to reward you for having different types of accounts — credit cards, mortgages, loans, etc. — but it's not necessary to have multiple accounts of each type. One credit card, responsibly managed, is enough.

Advantages of carrying multiple cards

  • Maximizing rewards: One card may pay you a higher rewards rate on groceries. Another may reward you handsomely at restaurants, or on gas purchases, or for spending on travel. Having multiple cards allows you to maximize your total rewards.

  • Flexibility: Some cards are more widely accepted than others. It’s good to have a backup in situations where one card isn’t accepted. Additionally, if a card is lost, stolen or compromised, you'll have another option while you wait for a replacement.

  • More available credit: A key factor in your credit score is your credit utilization, or how much of your available credit you're using.

Risks of carrying multiple cards

  • Losing track of spending: The more cards you have, the harder it is to remember how much you’ve spent on which card.

  • Missing a payment: Multiple due dates increase the risk of missing a payment, which can trigger a late fee or (if it's late enough) even damage your credit.

• • •

METHODOLOGY

NerdWallet's Credit Cards content team selected the best credit cards of 2024 in each category based on overall consumer value, as evidenced by star ratings, as well as their suitability for specific kinds of consumers. This page includes selections across multiple categories, and a single card is eligible to be chosen as among the "best" in more than one category. Learn how NerdWallet rates credit cards. Factors in our evaluations include:

  • For cash back cards: Cash-back earning rates, rewards structures (such as flat-rate or tiered categories), annual fees, redemption options (including minimum redemption amounts), promotional APR periods for purchases, bonus offers for new cardholders, and noteworthy features such as loyalty bonuses or the ability to choose one's own rewards categories.

  • For travel rewards cards: Annual fees, foreign transaction fees, rewards earnings rates, ease of use, redemption options, domestic and international acceptance, promotional APR periods, bonus offers, and cardholder perks such as automatic statement credits and airport lounge access.

  • For balance transfer and 0% APR cards: Annual fees, balance transfer fees, the length of each card's 0% introductory APR period, ongoing APRs, credit-profile requirements, cardholders' access to credit scores, and other noteworthy features such as rewards or perks that give the card ongoing value beyond the promotional APR period.

  • For college student cards: Annual fees, rewards programs (both earning rates and redemption options), promotional and ongoing APRs, bonus offers for new cardholders, incentives for responsible behavior, free credit scores and other credit education, availability to applicants with thin or no credit history, and other noteworthy features such as a path to upgrade to a different product later on.

  • For credit-building cards (including bad credit or fair credit): Annual and other fees, deposit requirements for secured cards (both the minimum and maximum allowed), interest rates, upgrade options, the availability of free credit scores and other credit education and tools, reporting to credit bureaus, and other noteworthy features such as a rewards program or the ability to qualify without a credit check

  • For business cards: Annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as special financing arrangements, free cards for employees or tools for managing business expenses.

• • •

Frequently asked questions

No single credit card is the best for everyone. It all depends on how you use credit and how strong your credit is.

A rewards credit card gives you a little something back with each purchase you make — usually cash back or travel points or airline miles. These cards are best for people who can pay their credit card bill in full each month. If you carry a balance from one month to the next, the interest you pay will eat up the value of your rewards.

A zero percent credit card is ideal if you're looking to finance a big purchase or pay down high-interest debt by way of a balance transfer. If you tend to carry a balance month to month, look for a card with low ongoing interest rate.

A credit-building card is designed for people who are just starting out with credit or are trying to bounce back from damaged credit. Rewards cards and zero-percent cards are available mostly to people with good to excellent credit; for those who aren't there yet, there are credit-building cards. There are options for bad credit, for fair or average credit and for people with no credit history.

Secured credit cards require you to provide a cash security deposit to open an account. Because that deposit protects the card company from risk, secured cards are much easier to qualify for than other cards. You're not guaranteed approval for a secured card, but the bar is much lower than for regular cards. Store credit cards are also generally easier to qualify for than bank cards.

Just as there is no single best card for everyone, consumers have widely different opinions about the best (and worst) credit card issuers. One person could get the runaround from customer service rep and rate a bank zero stars as a result, while another has nothing but positive experiences and gives it five stars across the board. Still, some trends emerge in customer satisfaction surveys.

J.D. Power conducts an annual study of satisfaction among major national and regional credit card issuers. It regularly rates Discover and American Express at the top among mass-market issuers. In the most recent study, USAA and Navy Federal Credit Union had the highest ratings of all, but keep in mind that only people affiliated with the military are eligible for USAA or Navy Federal products.

About the author

Portrait of author

Paul Soucy

Paul has been the lead editor for NerdWallet's credit cards team since 2015 and for the travel rewards team since 2023. Previously, he worked at USA Today and the Des Moines Register, then built a freelance writing and editing business focused on personal finance topics. He has a bachelor's degree in journalism and an MBA. Read more
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