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It’s natural to use the new year as the impetus to reconsider the credit cards you carry. After all, improving your finances is a popular resolution. Expenses change and budgets update. The benefits and fees that make sense for you naturally evolve. Because of this, it might be time to evaluate your options.
You might be one of the lucky ones who already has the perfect credit card. If not, these 10 options make our list of the best credit cards for 2023.
Bilt World Elite Mastercard®
One of the largest expenses in any budget is housing. Now, you can finally make rent payments on a credit card with no fee—and earn rewards to boot.
The no-annual-fee Bilt World Elite Mastercard® earns 1 point per dollar on rent payments with no fees (on up to 50,000 points each calendar year), 2 points per dollar on travel (when booked through the Bilt Travel Portal or directly with an airline, hotel, car rental or cruise company), 3 points per dollar on dining and 1 points per dollar on all other purchases. Once earned, points can be saved up to eventually make a down payment on a home. Or, transfer them at a 1:1 ratio to partnering travel programs, redeem them for select fitness classes or use them for rent credit.
While this card doesn’t come with a welcome bonus, it offers ongoing benefits including Doordash credits, cell phone insurance and double points days.
Blue Cash Preferred® Card from American Express
Everyday purchases including groceries and gas have reached extremely high prices with the potential to climb higher. Though we can’t make lower prices reappear, the Blue Cash Preferred® Card from American Express (Terms apply. See rates & fees) can reward you generously on these types of purchases.
The Blue Cash Preferred earns 6% cash back at US supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select US streaming subscriptions, 3% cash back at US gas stations and on transit (including taxis /rideshare, parking, tolls, trains, buses and more) and 1% cash back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. At those rates, rewards add up quickly. Cash-back redemptions are a piece of cake: simply request a statement credit with no complicated restrictions to learn.
There’s a modest $0 intro annual fee for the first year, then $95 annual fee on this card, though it also comes with up to $84 a year via monthly statement credits toward the Disney Bundle streaming subscription fees.
Capital One Venture X Rewards Credit Card
If you’re looking for a premium travel card, the Capital One Venture X Rewards Credit Card stands out. It’s packed full of benefits to make travel easier and more comfortable—two things anyone with a trip planned for 2023 will appreciate.
Unlike other rewards cards, it keeps earning simple with nearly all purchases earning at the same flat rate. You’ll earn 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 car rentals when booking via Capital One Travel. Rewards can be transferred to travel partners, redeemed for cash back or used for a number of other award options.
Its annual fee of $395 is lower than most of its competition and can easily be offset by up to $300 annually as statement credits for travel purchases made through Capital One Travel and a 10,000-mile bonus each year after card renewal.
Chase Freedom Flex℠
The Chase Freedom Flex℠ bundles several favorable card features together that keep it a popular choice year after year. With a welcome bonus, ongoing rewards, an introductory APR offer, and no annual fee, it’s hard to find fault.
The card earns 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. That means you’ll need to keep track of regularly changing bonus categories, but it’s worth it for the incredible earning potential.
The card earns Chase Ultimate Rewards® points which can be redeemed in a multitude of ways, including cash back at a rate of 1 point equals 1 cent.
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card is a perpetual favorite and remains one of Forbes Advisor’s best credit cards for 2023. The card offers a strong set of rewards and benefits for a mid-range $95 annual fee.
Among the benefits included are a relatively comprehensive range of travel insurance protections. An annual statement credit up to $50 toward hotel bookings made with Chase Ultimate Rewards also attracts travelers.
However, the card is probably best known for its extremely flexible points programme. It earns Ultimate Rewards points with the additional versatility of being transferable to partnering airlines and hotels. Or, to avoid blackout dates and other travel restrictions, book your trip through Chase’s proprietary booking engine and get 25% more value with every point.
Discover it® Secured Credit Card
Anyone looking to rebuild their credit at a 2023 resolution should look no further than the Discover it® Secured Credit Card. It builds in everything important to someone starting over, including no annual fee and no APR penalty.
There’s one other gigantic selling point to this card: it earns rewards on every purchase, something that’s rare on cards for bad credit. In fact, it even offers bonus cash back at the end of the first year, on top of earning 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases.
Like all secured credit cards, you’ll need to front a deposit on your account before you can use it. That will make your credit card feel more like a debit card—since you can’t charge more than you have secured on your card—but with all the benefits of reporting on-time payments and other responsible behaviors that build your credit.
Discover it® Student Cash Back
A lot of student credit cards offer subpar rewards, but not the Discover it® Student Cash Back. It stands out for earning 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum once activated. Plus, automatically earn unlimited 1% cash back on all other purchases with easy redemptions so you can enjoy your rewards.
Students will also appreciate that you can apply for the card without an existing credit score, making it an option for those who are just starting out. There’s no annual fee, either.
It’s worth noting that the card comes with a few other features that can be a boon for responsible cardholders. There’s a 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 15.99% – 24.99% applies. There’s also no penalty APR. Just be careful not to get too comfortable with those perks since they may encourage trouble if you’re not careful.
The World of Hyatt Credit Card
Choosing a co-branded hotel credit card often has more to do with your travel patterns than the card details itself. However, with the World of Hyatt Credit Card, you’ll find wins on both sides of the equation.
World of Hyatt, previously somewhat a niche program, has exploded in growth recently with the acquisition of and partnership with numerous additional properties. This expansion makes it more likely to find hotels where you need them in 2023 and a realistic option for your loyalty.
The credit card provides you with automatic Discoverist status and an annual free night certificate to use at your choice of Category 1 to 4 properties. Additionally, it earns 9 points total per dollar spent at Hyatt – 4 bonus points per dollar spent at Hyatt hotels and 5 base points per dollar from Hyatt as a World of Hyatt member. Earn 2 bonus points per dollar spent at restaurants, on airline tickets purchased directly from the airlines, on local transit and commuting and on fitness club and gym memberships and 1 point per dollar on all other eligible purchases.
US Bank Altitude® Go Visa Signature® Card
If restaurants, take-out or delivery make your list of regular expenses, it’s worth carrying one of the best credit cards for dining, of which there are many. However, few earn at high rates and carry no annual fee which is precisely what makes the US Bank Altitude® Go Visa Signature® Card a winning choice.
The Altitude Go earns 4 points per dollar on dining, takeout, and restaurant delivery, 2 points per dollar at grocery stores, grocery delivery, gas stations and on streaming services and 1 point per dollar on all other eligible purchases. Plus, rewards never expire so you’re welcome to save up your stash for big redemptions if you wish. Real-time rewards give you the opposite opportunity. Redeem your points instantly while on the go by simply texting from your phone, a handy feature for 2023.
The card also comes with an introductory APR offer and has no foreign transaction fees.
Wells Fargo Active Cash® Card
The Wells Fargo Active Cash® Card is one of the newer 2% cash-back credit cards and it’s turned heads ever since its launch. Customers looking for cards in this category tend to focus solely on dollars and cents rather than a range of benefits. They’ll be pleased to see it hits all the marks on rates, fees and rewards.
The unlimited flat 2% earning rate is impressive for a card with no annual fee, but it sets itself apart by also offering a welcome bonus: $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months. There’s also a 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 18.74%, 23.74%, or 28.74% 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.
Meaningfully, the cash-back rewards from this card are as accessible as need be. Unlike other cards that funnel you toward statement credits, you can also request your rewards as mortgage payments, deposits to your checking account, ATM withdrawals or toward PayPal purchases—provided you have qualifying Wells Fargo bank accounts, of course.
Wells Fargo Active Cash® Card
Unlimited 2% Rewards Rate
Earn unlimited 2% cash rewards on purchases
$200 Cash Rewards
18.74%, 23.74%, or 28.74% variable APR
Excellent, Good (700 – 749)
Why We Picked It
The Wells Fargo Active Cash offers an unlimited 2% cash rewards rate on purchases and charges no annual fee. This puts it in competition with the best flat-rate cash back cards on the market.
Pros & Cons
- Unlimited 2% cash rewards on purchases
- $0 annual fee
- Cell phone protection benefit
- There’s a balance transfer fee
- There’s a foreign transaction fee
- No travel transfer partners
- Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months
- Earn unlimited 2% cash rewards on purchases
- 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 18.74%, 23.74%, or 28.74% variable APR; balance transfers made within 120 days to qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5
- $0 annual fee
- No categories to track or remember and cash rewards don’t expire as long as your account remains open
- Enjoy a premium collection of benefits at a selection of the world’s most intriguing and prestigious hotel properties with Visa Signature Concierge.
- Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card. (subject to a $25 deductible).
- Select “Apply Now” to learn more about the product features, terms and conditions
There’s stiff competition in credit cards, forcing them to innovate and offer a great collection of benefits and rewards. These cards for 2023 have features that keep them on top, with options for just about anyone.
To view rates and fees for the Blue Cash Preferred® Card from American Express please visit this page.