The Best New Credit Card Rewards Available — and Which Ones to Focus On
Update: Some offers mentioned below are no longer available or the benefits and terms have changed. View the issuer’s site for current information.
If you held off on taking out a new credit during the economic uncertainty of the pandemic, chances are good you missed the arrival of an entire new lineup of options. The best new cards can help you rack up points, travel for less and earn rewards while you spend.
Here are the 10 best new credit cards on the market — with two that GOBankingRates wants you to pay extra close attention to.
Meet the New Cards on the Block
A handful of new cards hit the market every year, but they’re not all created equal. Here’s a look at some of the best across all categories and the dates they launched. All of them arrived within the last nine months and four are brand new as of 2021.
Sept. 11, 2020: Wayfair Credit Card
There are two versions of the Wayfair card, both of which give you the choice of 5% cash back on Wayfair purchases or 0% financing for up to 24 months. Neither one has an annual fee and the Mastercard option delivers up to 3% cash back on outside purchases, too.
Sept. 14, 2020: Hotels.com Credit Card
For frequent travelers, the Hotels.com card offers one reward night worth $125 when you spend $1,000 in the first three months. Every $500 spent on the card earns you a stamp, and every 10 stamps earn you a $110 reward night.
Sept. 15, 2020: Chase Freedom Flex
Chase Freedom Flex is a rewards card with no annual fee. It’s making a splash by delivering the best features from two of Chase’s most popular existing cards.
Oct. 1, 2020: Petal 1 Visa Credit Card
Petal 1 is a brand-new kind of card designed for building credit. There are two cards, but your creditworthiness for each is based on your banking history, including your income, spending and saving habits.
Oct. 5, 2020: Venmo Credit Card
Venmo’s debut card puts a new spin on rewards by distributing points according to what you spend money on the most. Your top spending category gets 3% cash back every month, 2% on the next and 1% on everything else.
Oct. 28, 2020: SoFi Credit Card
SoFi launched a brand new kind of card that incentivizes cardholders to eliminate debt, invest and save — with SoFi, of course. You get 2% unlimited cash back when you redeem points to pay down an eligible SoFi loan, or invest or save in a SoFi account. There’s no annual fee, and when you make 12 on-time payments, they knock 1% off your APR.
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Feb. 9, 2021: Jasper Cash Back Mastercard
Jasper is a card for building credit that provides handy extras like up to 6% cash back for referring friends. Unlike so many credit-building cards, it offers good cash back rates — up to 3% — for most purchases, not just specific categories.
March 22, 2021: TD Double Up Card
This card rewards everyday purchases with a generous flat rate of up to 2%. It follows the successful one-point-now-one-point-later rewards structure that is the hallmark of one of the most popular cards in America.
April 8, 2021: United Quest Card
If you’re primed to get out and see the world again after putting your COVID travel hibernation behind you, the United Quest Card from Chase can land you up to 100,000 bonus miles. All you have to do is spend $5,000 in the first three months, then make sure to spend $10,000 total within the first six months. You’ll also get extras like a $125 annual purchase credit, two flight credits, and 3X airline miles on United purchases.
May 10, 2021: U.S. Bank Altitude Connect Visa Signature Card
The next great travel rewards card also happens to be one of the newest cards on the market of any kind. Altitude Connect gives you 4X points on travel and gas, 2X points on grocery stores, dining and streaming, and 1% on all other eligible purchases. Spend $3,000 in the first 120 days and you’ll get 50,000 bonus points that are good for $500.
TD Double Up Borrows a Strategy From Credit Card Royalty
The Citi Double Cash card has been perched at or near the top of virtually every best-of list for several years running. It revolutionized the cash-back game when it began delivering one point when you make a purchase, then another when you make a payment.
TD is borrowing from that formula and adding a very smart twist that gets new customers to deposit money into the bank while borrowing from it at the same time. Just like Citi’s winningest card, TD Double Up pays two points on all purchases at all times. But in this case, you get one point when you make a purchase and then another when you redeem points into an eligible TD deposit account.
Just like Double Cash, there are no rotating categories, no caps, no annual fee and points never expire. Balance transfers are 0% for 15 months — Citi Double Cash is 18 months — and you need excellent credit for approval.
Chase Freedom Flex Combines the Best of Its Sister Cards
Chase hit home runs with both its Freedom and Freedom Unlimited cards, which remain two of the most popular cards on the market. Chase took the features that customers liked most about each and put them into Freedom Flex, which is making a pretty strong argument for being the best new cash-back card in its class.
There’s no annual fee, points never expire and there’s never a minimum to redeem. You get a $200 bonus for spending just $500 in the first three months. You’ll also get a generous 5% cash back on up to $1,500 in rotating bonus categories every quarter, plus 5% on travel, 3% on restaurants — even qualifying take-out and delivery — 3% on drug store purchases and 1% on everything else.
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Last updated: May 21, 2021