Best Mastercard Credit Cards Of May 2024

With the Capital One VentureOne Rewards Credit Card, cardholders earn flat-rate rewards on every purchase. The card has no annual fee or foreign transaction fees (rates & fees).

Rewards: Earn 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every other purchase.

Welcome offer: Earn 20,000 miles after spending $500 on purchases within 3 months from account opening, equal to $200 in travel.

Annual fee: $0

Other benefits and drawbacks: This card is a great way to dip your toe into travel rewards. Capital One makes it easy to use miles to book travel without blackout dates (or to pay yourself back for travel you purchased with the card) or you can optionally transfer your miles to one of its airline or hotel partners. In addition to its welcome offer, the VentureOne also provides an introductory APR rate: 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you.

The Citi Rewards+® Card comes with a unique earning structure that rewards small purchases in particular. But don’t hold back on larger transactions, either: a low introductory APR helps you pay over time.

Rewards: Earn 2 ThankYou Points per dollar at supermarkets and gas stations for the first $6,000 in spending per year and 1 ThankYou Point per dollar on other eligible purchases, plus 5 ThankYou® Points per dollar on hotel, car rentals and attractions booked on CitiTravel.com through December 31, 2025.

Welcome offer: Earn 20,000 bonus points after spending $1,500 in purchases within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com.

Annual fee: $0

Other benefits and drawbacks: With most purchases only earning a single point per dollar, the major draw to this card is how it rounds up your earnings to the nearest 10 points per transaction. That’s a strategic way to earn on small transactions. The card also provides a 10% rebate on ThankYou Points redeemed, up to the first 100,000 points in redemptions annually. Finally, don’t miss its introductory APR: 0% intro APR on balance transfers for 15 months from date of first transfer and on purchases from date of account opening. After that, the variable APR will be 18.74% - 28.74%, based on your creditworthiness. An intro balance transfer fee of either 3% of each transfer or a minimum amount of $5 within the first 4 months of account opening applies. After that, the amount of each balance transfer will be 5% of each transfer (minimum $5) applies.

When a balance transfer is your top priority, the Citi Simplicity® Card* is one of the best Mastercards for the job. It offers one of the longest promotional periods on the market.

Rewards: This card does not earn rewards.

Welcome offer: This card does not offer a welcome bonus.thank

Annual fee: $0

Other benefits and drawbacks: The Simplicity lives up to its name. There’s no annual fee, no late fees and no penalty rate, making it a fine choice if you think you may need forgiveness down the line. But there are also no rewards and there are cards with longer 0% APR periods on new purchases. Where this card shines is in its balance transfer offer: 0% intro APR for 21 months on balance transfers from date of first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 19.24% - 29.99%. There is an intro balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater, for transfers made within 4 months of opening the account. After that, a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies.

The Aeroplan® Credit Card isn’t an obvious choice as an airline card but can be a great way to earn valuable frequent flyer miles and enjoy perks when flying on Air Canada.

Rewards: Earn 3 points per dollar spent on dining, takeout and eligible delivery services, grocery stores and each dollar spent directly with Air Canada including vacations and cruises and 1 point per dollar for all other eligible purchases.

Welcome offer: Earn 60,000 bonus points after spending $3,000 on purchases in the first 3 months of account opening.

Annual fee: $95

Other benefits and drawbacks: Aeroplan has a long list of airline partners, making the points you earn on this card extremely useful even if you have no intention of traveling on its namesake, Air Canada. Cardholders get preferred pricing on select redemptions, too. And if you do fly on Air Canada, you’ll enjoy automatic elite status for your first year of card membership and free checked bags throughout your years as a cardholder.

The IHG One Rewards Premier Credit Card has tremendous perks that make its annual fee an absolute steal, even if you only stay with IHG a few times per year.

Rewards: Earn up to 26 points per dollar spent when you stay at IHG Hotels & Resorts, 5 points on travel, gas stations, and restaurants and 3 points on all other purchases.

Welcome offer: Earn 140,000 bonus points after spending $3,000 on purchases in the first 3 months from account opening.

Annual fee: $99

Other benefits and drawbacks: The anniversary free night award provided each year with card renewal alone can be worth hundreds of dollars but that’s only where the benefits start. Cardholders also get the fourth night free when using points to cover the full cost of the first three nights. Platinum Elite status is also granted automatically and cardholders can earn up to a $100 statement credit once every four years when using their card to pay for TSA PreCheck, Global Entry or NEXUS.

The best way to earn flexible, transferable credit card points on a Mastercard is with the Citi Premier® Card. This midrange card earns elevated rewards on everyday categories with no earning caps.

Rewards: Earn 3 ThankYou points per dollar at restaurants, supermarkets, gas stations, air travel and hotels, 1 point per dollar on all other eligible purchases and a total of 10 points per dollar on hotels, car rentals, and attractions (excluding air travel) booked on the Citi Travel℠ portal through June 30, 2024.

Welcome offer: Earn 60,000 points after spending $4,000 in purchases within the first 3 months of account opening.

Annual fee: $95

Other benefits and drawbacks: The Citi Premier comes with a once-annual discount of $100 off hotel bookings of $500 or more made through Citi ThankYou, which is an easy way to get value after paying the annual fee. The other major advantage to this card is having the ability to earn and redeem Citi ThankYou Points. In addition to cash back or travel booked via Thank You, you can also transfer points to a variety of airline and hotel partners for potential outsized value.

Earn rewards at high rates on rotating categories with the Chase Freedom Flex℠*, a Mastercard with no annual fee and a handful of other perks that please.

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

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

Annual fee: $0

Other benefits and drawbacks: Although you’ll need to keep track of bonus categories and spending limits, the Freedom Flex can be a highly rewarding card. The card’s welcome offer is a good way to get you started and its introductory APR may also be an initial advantage: 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24% applies. Balance transfer fee of up to 5% (min. $5) of the amount of each transfer applies. But this card is a keeper overall thanks to its earning structure and the possibility of combining your points with premium Chase Ultimate Rewards®.

Only consistent grocery delivery customers will be interested in the Instacart Mastercard®, but for them, this card is gold.

Rewards: Earn 5% cash back on Instacart app and Instacart.com purchases, and on travel purchased through the Chase Travel Center, 2% cash back at restaurants, gas stations and on select streaming services and 1% cash back on all other purchases.

Welcome offer: Earn $100 Instacart credit plus 1 free year of Instacart+ automatically upon approval.

Annual fee: $0

Other benefits and drawbacks: The chance to earn 5% back on groceries—albeit only on Instacart orders—with no card annual fee is an outlier that turns heads. Note that the card provides a free year of Instacart+ which will auto-renew at full price unless you manually opt out. Outside of that, though, the rewards are somewhat mediocre and for other purchases, you’ll likely be better off with another credit card.

Without needing to enroll or activate, you can earn up to 5% cash back in a single purchase category each month with the Citi Custom Cash® Card—even if you only have fair credit.

Rewards: Earn 5% cash back on purchases in a top eligible spend category up to the first $500 spent each billing cycle, 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025 and 1% cash back on all other purchases.

Welcome offer: Earn $200 in cash back after spending $1,500 on purchases in the first 6 months of account opening. The bonus points come in the form of 20,000 ThankYou® Points that can be redeemed for $200 cash back.

Annual fee: $0

Other benefits and drawbacks: Unlike rotating category credit cards, this Mastercard automatically rewards you at 5% in your top spending category every month. There’s one catch, though. It’s capped at $500 in spending monthly (for charges above and beyond that, earnings drop to 1%). There’s also an introductory APR, making it a well-rounded option for anyone and a rarity for applicants with fair credit.

Get rewarded—twice—with the Citi Double Cash® Card. Essentially, you’ll earn a flat 2% cash back on all purchases once they’re paid off, which is remarkable compared to the earnings on most cards that consider fair credit applicants.

Rewards: Earn 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off.

Welcome offer: Earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening, fulfilled as 20,000 ThankYou® Points.

Annual fee: $0

Other benefits and drawbacks: This card also stands out for its introductory APR offer: 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% - 29.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). Though that doesn’t apply to new purchases, it’s noteworthy to see on a card that doesn’t require strong credit. The rewards, though usually considered as cash back, can optionally be combined with Citi ThankYou Points from other Citi Mastercards for additional redemption options including transfers to travel programs.

Earn cash-back rewards at a respectable rate even if your credit is limited or fair, thanks to the Capital One QuicksilverOne Cash Rewards Credit Card (rates & fees).

Rewards: Earn 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply).

Welcome offer: This card does not offer a welcome bonus.

Annual fee: $39

Other benefits and drawbacks: There’s a small annual fee on this card, though the rewards could easily outweigh it if you use your card regularly. At 1.5% cash back, you’d need to spend $2,600 annually—that’s less than $220 per month—to break even. Additionally, there’s no foreign transaction fee, making this card a potential winner for someone traveling abroad.

Students getting their feet wet with a new credit card might want to consider the Capital One Quicksilver Student Cash Rewards Credit Card (rates & fees) which balances cash-back rewards and a welcome offer with no annual fee.

Rewards: Earn 10% cash back on purchases made with Uber & Uber Eats through 11/14/2024, unlimited 5% cash back on hotels and rental cars booked through Capital One Travel and 1.5% unlimited cash back on every purchase.

Welcome offer: Earn $50 after spending $100 in the first three months.

Annual fee: $0

Other benefits and drawbacks: This card covers all the basics with a few little extras thrown in. In addition to the card’s rewards structure and standard consumer protections, it adds in complimentary Uber perks including a 10% cash-back rebate on qualifying charges and a free Uber One membership through November 2024. Students may also appreciate its lack of foreign transaction fees, which will save you money if studying abroad or traveling for summer break.

Exclusively for students, the Capital One SavorOne Student Cash Rewards Credit Card (rates & fees) offers better-than-average rewards in select categories, as long as you’re willing to keep track of where you’re spending your money.

Rewards: Earn 10% cash back on purchases made through Uber & Uber Eats through 11/14/2024, 3% cash back on dining, entertainment, popular streaming services and grocery stores (which excludes superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases.

Welcome offer: Earn $50 after spending $100 in the first three months.

Annual fee: $0

Other benefits and drawbacks: The bonus categories on this card are aligned with a lot of student spending habits, providing extra rewards in dining, entertainment, select streaming services and at grocery stores. The drawback to that is other spending only earns at 1%, which other cards may beat. Still, if your spending is clustered in those types of purchases, it could be a better pick for your particular needs.

The chance to earn cash rewards with a secured credit card makes the First Progress Platinum Prestige Mastercard® Secured Credit Card worth a look if you need a Mastercard but don’t have great credit.

Rewards: 1% cash back on payments.

Welcome offer: This card does not offer a welcome bonus.

Annual fee: $49

Other benefits and drawbacks: Unfortunately, in addition to requiring a security deposit, this card charges an annual fee. That means you’ll need some cash upfront to get started. Luckily, that’s somewhat counteracted by the opportunity to earn cash-back rewards with every purchase. You’ll want to use this card to help rebuild your credit by spending and paying responsibly: It reports to all three credit bureaus.

The Capital One Spark Cash Plus* comes with easy-to-earn rewards without limiting you to a preset spending limit, which can keep your business’ financing as agile as you are.

Rewards: Earn 2% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel.

Welcome offer: Earn $1,200 cash bonus after spending $30,000 in the first three months.

Annual fee: $150

Other benefits and drawbacks: Though there’s no preset spending limit, this is a pay-in-full charge card which could be limiting for businesses that don’t have reliable cash flow. Companies with high spending will be extra rewarded, though. If you spend $150,000 or more in a calendar year, your annual fee will be rewarded. Plus, there’s a sizable welcome offer for new cardmembers—if you can hit the minimum spending required.

If you’re looking for airline rewards and benefits for your small business spending, the JetBlue Business Card* tops our pick as an airline Mastercard.

Rewards: Earn 6 points per dollar on JetBlue purchases, 2 points per dollar at restaurants and office supply stores and 1 point per dollar on all other purchases.

Welcome offer: Earn 50,000 bonus points after spending $4,000 on purchases and an additional 10,000 bonus points when a purchase is made on an employee card, both in the first 90 days.

Annual fee: $99

Other benefits and drawbacks: The chance to earn JetBlue TrueBlue points on every purchase can make this card a strong contender, especially if your spending aligns with the bonus categories of restaurants or eligible office supply stores. Perks while flying are notable, too. You can get free checked bags, priority boarding and a 50% discount on eligible in-flight purchases. Additionally, receive 5,000 bonus points after renewing your card annually and get a 10% rebate on points redeemed toward award flights.

Watch your rewards add up to meaningful amounts when spending on the IHG One Rewards Premier Business Credit Card. With a minimum of 3 points per dollar spent (and sometimes much more), it’s a powerful card to keep in your wallet.

Rewards: Earn up to 26 total points per dollar at IHG® Hotels and Resorts, 5 points per dollar on travel, dining, select business, and at gas stations and 3 points per dollar on all other purchases.

Welcome offer: Earn 140,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening, plus 35,000 bonus points after spending a total of $7,000 in the first 6 months from account opening.

Annual fee: $99

Other benefits and drawbacks: This card is best known for its benefits when traveling with IHG, like automatic Platinum Elite status. The anniversary free night certificate can be extremely valuable and is easy to use. Another great perk is the ability to get the fourth night free when using points to pay for the first three nights of an award stay. The chance to earn 10,000 bonus points and a $100 statement credit if you spend $20,000 or more annually is another point to consider.

Take charge of your own earnings with the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card. It offers elevated cash back on dining plus another select category of your choice.

Rewards: Earn 3% cash back in the category of choice, 2% cash back on dining purchases and unlimited 1% cash back on all other purchases. Earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year and 1% thereafter.

Welcome offer: Earn $300 online statement credit after spending $3,000 in the first 90 days of account opening.

Annual fee: $0

Other benefits and drawbacks: Businesses can opt in to earn 3% cash back on their choice of gas and EV charging stations, office supply stores, travel, TV/telecom and wireless services, computer services or business consulting services. But beware: The enhanced earning rates only apply to the first $50,000 in spending annually. You can also earn more by participating in Bank of America Preferred Rewards, which provides bonus rewards based on your membership tier.