5 Most Popular Credit Cards In Circulation

Author: Geoffrey Ejiga

Credit cards have become more necessary in our daily life as every average American owns at least three different credit cards.

This makes it essential to know which credit cards are the best, and that’s why we curated the top 5 most popular credit cards for different purposes. So keep reading to find out.

Top 5 Most Popular Credit Cards

1. Chase Sapphire Preferred® Credit Card: Popular For Travel Rewards

Chase Sapphire Preferred® Credit Card is popular for its valuable travel reward bonuses. Cardholders can get up to 60,000 in bonus points if they spend up to $40,000 within three months after account opening. Also, Chase Sapphire Preferred® usually gives 1-5 points per $1 spent.

Credit Card Features

• Make purchases worth $4,000 in the first three months to collect 60,000 in bonus points worth $750 if you redeem with Chase Ultimate Rewards®.
• Receive benefits up to $50 annual Ultimate Rewards Hotel Credit, 3x on dining purchases, 2x on travel purchases, 5x on travel purchases, and more.
• Get up to 25% more in value by redeeming hotel, cruises, airfare, and car rentals with Chase Ultimate Rewards®.
• Get Lost Luggage Insurance, Auto Rental Collision Damage Waiver, Trip Cancellation/Interruption Insurance, and more.

Pros 

• Cardholders can receive up to 6.25% back on travel rewards
• No fees for international transactions 

Cons 

• A $95 annual fee is required.

2. Chase Freedom Unlimited®: Popular For Cash Rewards

Chase Freedom Unlimited® is one of the most popular credit cards recognized for offering generous rewards and a lengthy introductory APR period. 

Credit Card Details 

• Earn a 1.5% cash back on anything you buy. The limit is $20,000 spent within your first year, but you get up to $300 cashback.
• Get a 6.5% cash back when you purchase travel with Chase Ultimate Rewards®. Additionally, you can get a 4.5% cash back on dining at restaurants and drugstore purchases, with 3% on every other purchase limited to $20,000 spent within the first year.
• Enjoy 15 months of 0% APR on balance transfers and purchases from account opening. Afterward, a variable APR of 16.49% to 25.24% APR is applied.

Pros 

• You get 15 months of 0% APR on balance transfers and purchases.
• You can earn 1.5-5% on cash back 

Cons 

• Balance transfer fees 
• Fees for foreign transactions
• A higher regular APR

3. Discover it® Student Cash Back

Discover it® Student Cash Back is popular among students as it offers a 0% annual fee, 1-5% cash back when you make purchases, and double rewards as an anniversary bonus for first-year usage.

Credit Card Details 

• Discover Unlimited Cashback gives users an equivalent of all the cash back earned within the first year. If you spend $100, you can get a $100 cashback. There’s no minimum or maximum on spending and rewards.
• Each quarter, you can earn a 5% cash back on purchases from places like Amazon, restaurants, grocery stores, gas stations, and payments made through PayPal. 
• You can get an unlimited 1% cash back on purchases.

Pros 

• Double rewards after the first year.
• Offers credit to people with bad credit
• No annual fees
• No fees for international transactions
• 0% intro APR for six months

Cons 

• No initial bonuses 

4. Marriott Bonvoy Boundless® Credit Card

Marriott Bonvoy credit card is one of the popular cards with bonuses and rewards that appeal to many people.

Credit Card Features

• You can earn three free nights by making qualifying purchases 
• You earn 3x more Bonvoy points for every dollar spent on combined purchases at gas stations, grocery stores, and restaurants.
• A free night annually as an anniversary gift
• 2x Bonvoy points on every dollar spent on every other purchase.
• When you spend more than $7,000 on hotels using Marriott Bonvoy Boundless® Card, you will get 17x Bonvoy points on every dollar spent 

Pros 

• Thee night free as an initial bonus 
• One free night yearly
• You automatically get Silver Elite status
• Six points earning on every dollar you spend at Marriott
• No fees for foreign transactions

Cons 

• A $95 annual fee
• Higher minimum APR 

5. OpenSky® Secured Visa® Credit Card

OpenSky Card is a popular credit card with no credit check performed during application. The card charges a low annual fee of $35, making it an excellent credit card for rebuilding credit.

Credit card details 

• No credit check is needed to apply, and you can instantly find out if you’ve been approved.
• OpenSky has an average annual approval rate of 85% within the last five years, giving most people a chance to improve their credit.
• A credit increase after six months. 
• No additional deposit is required.

Pros 

• Relatively low annual fee of $35
• Low minimum deposit of $200

Cons 

• A 3% foreign transaction fee

Conclusion

Various credit cards offer different benefits that people can use to their advantage. Some credit cards are better for travel rewards, hotels, cash back, students, etc. It’s a smart to check out the card details first to see if it’s right for you. Also, visit the card issuer’s websites to learn more.