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BMO Preferred Rate Mastercard®* review

Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee5 and BMO will waive the $29 annual fee for the first year.*

• Rates & Fees

0.99% 0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and a first year annual fee waiver

$29 Annual Fee Waived with balance transfer offer or BMO Performance chequing account

13.99% Purchase APR

15.99% Cash Advance APR

0.99% Balance Transfer Rate 0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and waive the first year annual fee

2.00% Balance Transfer Fee

Good Recommended Credit Score

$0 Required Annual Personal Income

$0 Required Annual Household Income

By Tyler Wade

Updated: March 25, 2024

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Quick overview

The BMO Preferred Rate Mastercard ® * is a low-interest credit card designed to help you build your credit score and pay off any credit card debt. It’s all thanks to its 0.99% introductory interest rate on balance transfers for nine months with a 2% transfer fee. While it does charge a $29 annual fee, it’s waived in the first year. 

Who is the BMO Preferred Rate Mastercard ® * best suited for?

You need a fair to good credit score (575+) to qualify for this card. Once you’re a card holder, you can build your credit score quickly with a balance transfer, low interest rates and quality credit card protections without a high annual fee. 

Pros and cons of the BMO Preferred Rate Mastercard ®*

Low-interest rate: Offers a competitive purchase interest rate

Introductory balance transfer offer for the first nine months

First-year annual fee waiver

BMO PaySmart™ Installment plans: Turn new credit card purchases into small, interest-free monthly payments with a small fee.

Additional cardholder: You can add an additional cardholder for free

No rewards: Your focus is paying down debt, not collecting miles.

Foreign transaction fee: Charges a 2.5% fee on foreign transactions.

Balance transfer fee: While normal, it’s a bit painful to have to fork over a 2% fee on balance transfers.

Welcome bonus

• Introductory offer : 0.99% interest rate on balance transfers for the first nine months with a 2% transfer fee.
• Annual fee waiver: The $29 annual fee is waived for the first year. (If you open a BMO performance chequing account, this annual fee is always waived). 

Key benefits

• Low-interest rate : Competitive purchase interest rate of 13.99%.
• Balance transfer: 0.99% interest rate for nine months helps you pay down debt faster. 
• Zero Dollar Liability : Protection against unauthorized use of the card.

Insurance coverage

• Purchase Protection : Provides coverage for eligible items in case of theft or damage.
• Extended Warranty : Extends the manufacturer's warranty on eligible purchases.
• For an extra fee, you can access services like Credit Card Balance Protection and BMO Roadside Assistance. 

How the BMO Preferred Rate Mastercard ® * compares

The BMO Preferred Rate Mastercard ® * falls into the low-interest credit card category. When comparing it to other cards in this category, it's essential to consider the interest rate, annual fee and any additional perks or benefits.

BMO Preferred Rate Mastercard ® * vs. MBNA True Line Mastercard

If you’re looking for a balance transfer credit card, it’s hard to beat the MBNA True Line Mastercard. This is because of its 0% promotional annual interest rate (with a 3% transfer fee) for the first 12 months, instead of 0.99% for only nine months with BMO. MBNA may require a few more credit score points (~650+), but it also charges no annual fee. This makes it a strong contender for those looking for the best balance transfer card with a lower APR. If you can afford a $39 annual fee, check out the MBNA True Line Gold Mastercard that charges a mere 8.99% on interest. 

BMO Preferred Rate Mastercard ® * vs. Scotiabank American Express Platinum Card

Charging only 9.99% interest on purchases, cash advances and balance transfers, the Scotia Amex Platinum card is a fantastic low interest rate credit card that also earns rewards (and until October 31, 2024, gives you a welcome bonus of 60,000 Scene+ points). It can’t all be great news—the card’s annual fee is $399. So if you’re looking at the Amex for travel and low interest rates, consider if you like the Scene+ program, as you’ll have to transfer points to another card if the annual fee becomes too much. 

BMO Preferred Rate Mastercard vs. BMO Prepaid Mastercard ® *

Why not avoid interest rates altogether? With a BMO Prepaid Mastercard ® *, there’s no interest rate on purchases or cash advances, and all for a small annual fee. However, it’s because you’re loading up the card with your money so you can use a credit card to spend, no one is loaning you any money. 

Prepaid credit cards don’t help build your credit score, but it certainly keeps your spending in check because you can only spend the money you load onto the card. 

Is the BMO Preferred Rate Mastercard ® * worth it?

Given its low-interest rate, balance transfer offer and the first-year annual fee waiver, the BMO Preferred Rate Mastercard ® * is a solid choice if you’re looking to save on interest. However, if you’re looking for extensive rewards or benefits, there are better options available.

How does the balance transfer offer work?

For the first nine months, cardholders can benefit from a 0.99% interest rate on balance transfers. There's a 2% transfer fee, but this can result in significant savings compared to high-interest credit cards.

What credit score is needed for the BMO Preferred Rate Mastercard ® *?

While the card is accessible to those with fair credit scores (ranging from 575-749), having a good credit score can increase the chances of approval.

Are there any foreign transaction fees?

Yes, the card charges a 2.5% foreign transaction fee on purchases made outside of Canada.

About our author

Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca. He was the host and producer of the Real Money Talk podcast. He's the father of two, husband to one, and loves all things tiny.

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BMO Preferred Rate Mastercard®*

Annual fee:

Perks & benefits:.

The BMO Preferred Rate Mastercard®*  is a basic credit card. It’s a fine entry-level choice if you already bank with BMO and are looking to open your first credit card, but otherwise there’s limited appeal.

BMO offers Balance Protector on this card, which is an opt-in feature that can help to protect you in unforeseen circumstances.

Bonuses & Fees

Currently, there is a welcome offer of 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and the $29 annual fee will be waived for the first year on the BMO Preferred Rate Mastercard®*.

Earning Rewards

Insurance coverage.

The BMO Preferred Rate Mastercard®* offers a doubling of the manufacturer’s warranty up to one additional year as well as provides 90 days of purchase protection.

Legal Disclaimers

†Terms and conditions apply. BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.

As a basic no-fee product, the BMO Preferred Rate Mastercard®* has no minimum income requirement. Follow the below link to the BMO website to learn more about this card and submit an application.

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BMO Preferred Rate Mastercard Review for 2022

By Heidi Unrau | Published on 10 Aug 2023

What’s so special about the BMO Preferred Rate Mastercard ? When it comes to a low-interest credit card, there’s a trade-off to be made. Usually, to save money on interest charges, you have to say goodbye to rewards and other benefits that come standard on most cards. The BMO Preferred Rate Mastercard is a unicorn that gives you a great rate and still lets you keep the features you love. You won’t earn cash back or other rewards, but you’ll save money in more ways than one. The BMO Preferred Rate Mastercard helps you pay off credit card debt faster and shop with confidence too!  No wonder it’s one of the best low-interest cards in Canada . 

Annual Fee: $20

Welcome Offer: 0.99% on balance transfers for 9 months, annual fee waived for the first year

Interest Rate: 12.99%

BMO Preferred Rate Mastercard Welcome Offer 

For new customers, the BMO Preferred Rate Mastercard offers an introductory interest rate on balance transfers . You’ll get 0.99% on balance transfers for 9 months, subject to a 2% transfer fee. However, the balance transfer promo rate does not apply to balances transferred from other BMO credit cards. BMO will also waive the $20 annual card fee for the first year if your application is received before December 6, 2022 and don’t have a past or current BMO credit card.  

Who is eligible for the BMO Preferred Rate Mastercard? 

The BMO Preferred Rate Mastercard eligibility requirements are pretty standard. While there is no specific credit score requirement disclosed, rule of thumb is at least an average credit score of about 660 and up. This card doesn’t take household income into consideration; you’ll need to have a personal income of at least $15,000 a year to qualify. And as always, you need to be a Canadian citizen or permanent resident, the age of majority in your province, and have no bankruptcies in the past 7 years. Approval is never guaranteed and you need to consent to a credit check upon application.   

Rates and Fees

The BMO Preferred Rate Mastercard offers a competitive rate almost half that of most other cards on the market. Purchases are subject to the standard card rate of 12.99%. Cash advances, Mastercard cheques, and other cash-like transactions are subject to 15.99%. New customers get a promotional interest rate of 0.99% on balance transfers for 9 months. After that, the rate will adjust back to the standard 12.99%. The BMO Preferred Rate Mastercard also comes with a $20 annual card fee. However, that fee is waived for the first year for new customers who apply before December 6, 2022.

Pro tip: You can ditch the annual card fee altogether if you also have a BMO Performance Chequing Account. 

What about the perks? 

Ok, so you won’t get cash back or other rewards with the BMO Preferred Rate Mastercard . That’s ok because the low interest rate, cheap annual fee, and the first year free make up for it. But that’s not all. You don’t have to sacrifice features like purchase protection or extended warranties, which are standard on most other credit cards. That’s great news for the shoppers who want to protect their purchases without paying an arm and a leg for insurance add-ons through a retailer. 

Purchases made with your BMO Preferred Rate Mastercard are insured against theft or damage up to 90 days from the date of purchase. Your card purchases also get extended warranty protection that doubles the manufacturer’s warranty up to 1 additional year. If you’re a tech enthusiast into the latest gadgets or need to make a big-ticket purchase, this card will save your bacon if something happens. Knock on wood. 

Optional add-ons

One of the great things about BMO credit cards is the ability to customize features to your needs. They offer à la carte protection add-ons for an extra cost. Here’s what you can add to your BMO Preferred Rate Mastercard : 

• Credit Alert costs $19.99 per month and includes a summary of changes to your credit file every 3 months, and an updated credit score once a month.
• InfoProtector 360 costs $9.99 per month and includes lost wallet protection, assistance if your identity is stolen, backs up and registers important documents and financial information, monitors that information for unauthorized use, and provides critical alerts about your destinations while travelling abroad.
• BMO Credit Card Balance Protection costs $1.00 per $100 of your credit card balance each month and helps you with payments to protect your credit in the event of a job loss, disability, or death. It can also protect your balance up to $20,000. You may even qualify for an additional benefit if you welcome a new addition to your family. Conditions and restrictions apply. 
• BMO Roadside Assistance ranges from $69 to $98 per year, depending on the package, and covers you anywhere in continental North America for things like tow trucks, flat tires, battery boosts, and more.

Who is the BMO Preferred Rate Mastercard for? 

If you pay your credit card balance off in full each month, then move along; nothing to see here. But if you’re stressed about credit card debt or sick of choosing between low-interest or handy card features, you’ve come to the right place. The BMO Preferred Rate Mastercard is a great card for anyone looking to pay off their balance faster, protect their purchases, or both. 

The balance transfer offer might not be the best in town, but the annual card fee is super low and the first year is free for new customers. There’s also the opportunity to ditch that fee altogether if you switch your banking to BMO with a Performance Chequing Account. The BMO Preferred Rate Mastercard gives you the flexibility to save money on interest charges without giving up the kind of credit card features you’ve come to love. 

Remember, you won’t earn rewards like cash back, points, or travel miles. But if you carry a balance month to month, those money-saving rewards are wiped out with pricy interest charges. In that case, you’re better off swapping your rewards card in favour of a low-interest card instead. You’ll save money and get out of debt faster; win-win. Once you pay off that balance for good , you can switch to a BMO card with better rewards and more benefits.  

Heidi Unrau

• $29 annual fee – first year free
• .99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee
• 13.99% interest rate for purchases
• 15.99% interest rate for cash advances

The BMO Preferred Rate Mastercard®* is one of the best low interest credit cards in Canada since the annual fee of $29 is waived for the first year and you get a 0.99% introductory interest rate on balance transfers for 9 months.

If you choose to do the balance transfer , there’s a 2% transfer fee that applies. For example, if you choose to balance transfer $1,000, the fee you would pay is $20. Some people may not like the idea of paying a fee for a lower interest rate, but you need to think big picture. The balance transfer interest rate is 0.99% which is significantly lower than the average credit card interest rate of 19.99%. Paying a little money upfront is well worth it since you likely pay much more in interest charges if you didn’t change cards.

Even if you can’t pay your entire balance during those 9 months, your interest rate goes up to 13.99% which is still lower than most credit cards. That can go a long way in helping you manage your debt.

Since this is a low interest credit card, you only get a few additional benefits, but they’re great. Purchase protection insures your goods for 90 days from theft, damage and loss. That’s right, as long as you pay for the entire purchase with your BMO Preferred Rate Mastercard®*, you’re covered for almost three months.

The extended warranty is also appealing since it doubles your manufacturer’s warranty up to one additional year. This is handy since purchasing extended warranty can sometimes be expensive. Similar to purchase protection, you must charge the entire amount of the purchase to your BMO Preferred Rate Mastercard®* to get the extended warranty. Be sure to save your receipt in case you need to make a claim!

How the BMO Preferred Rate Mastercard®* compares to others

There’s a lot of competition when it comes to low interest credit cards. The American Express Essential Card has no annual fee and 1.99% interest rate on balance transfers for the first 6 months. Once the promotional period ends, the interest rate goes up to 12.99%.

The American Express Essential Card is competitive, but the BMO Preferred Rate Mastercard®* has a lower balance transfer rate and it lasts longer. Also, it’s fair to say that the BMO card is accepted at more merchants so it might be the better choice if you plan to do additional spending. That said, the American Express Essential Card does give you access to American Express Experience which some people may find valuable.

There’s also the MBNA True Line Mastercard that has a 0% interest rate on balance transfers for the first 10 months. The card has no annual fee, but you need to pay a 3% fee for your balance transfer. You need to do your math to see if it’s worth it for you.

Final thoughts

My BMO Preferred Rate Mastercard®* review is positive. This card is perfect for those who are looking to eliminate their debt quicker or for those who normally carry a balance on their credit card. The annual fee is waived for the first year and the balance transfer option is great which is why it’s one of the best BMO credit cards .

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information

*Terms and conditions apply

About Barry Choi

Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. His blog Money We Have is one of Canada’s most trusted sources when it comes to money and travel. You can find him on Twitter: @barrychoi

The best approach is to never carry a balance

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Advertisement

By Keph Senett on April 15, 2020 Estimated reading time: 4 minutes

BMO Preferred Rate Mastercard review

With a low regular interest rate of 12.99% and the option to pay an even lower 0.99% on balance transfers for the first nine months, this card is a good option for those looking to whittle down credit card debt and minimize interest charges.

Low interest credit cards are more valuable than cash back or rewards cards for people who tend to run a balance. At the regular rate of around 19.99% that most credit cards charge on unpaid balances, interest can add up fast and cancel out any other rewards you might be generating. With a regular interest rate of 12.99%, the BMO Preferred Rate Mastercard can help keep more of your money in your pocket, and its balance transfer promotion can help you pay down debt from your other, higher-interest, cards. 

With BMO as the card issuer, the Preferred Rate Mastercard is also ideal for those who prefer keeping all their accounts with a single provider, or who like their card to be affiliated with one of the big banks.

BMO Preferred Rate Mastercard *

5 things to know about the BMO Preferred Rate Mastercard

1. i t has a low interest rate.

Why is this card popular? It’s simple math. Most cards charge around 19.99% in interest. With a regular rate of 12.99%, the BMO Preferred Rate is automatically saving you 7% annually in interest on unpaid balances  compared to the average credit card. Depending on how much debt you carry, this could add up to hundreds of dollars annually. Even better, this rate applies across the board to balance transfers and cash advances as well.

2. New cardholders don’t pay the annual fee for one year

The BMO Preferred Rate Mastercard couples a low interest rate with a low $[ms_credit_card name=”bmo-preferred-rate-mastercard” section=”fees” key=”subsequent_year_annual” annual fee to match. For new cardholders it’s a steal: the fee is waived for the first year.  

3. You can transfer balances from higher-interest cards

With the low interest rate as its marquee feature, this card is aimed towards people trying to reduce their credit card payments. That’s why the 0.99% introductory rate on balance transfers for a full 9 months is such a bonus. New cardholders can transfer debt from higher interest cards and be charged 0.99% for 9 months (a 2% transfer fee applies so, for example, if you transfer $5,000 from another card, you’ll have a $50 transfer fee added to your balance). When the balance transfer offer period is over, any remaining debt will incur interest at 12.99%, a rate that’s still far lower than most cards.  

4. It offers few frills 

It’s not unusual for low interest cards to be a little lean when it comes to perks. That said, the BMO Preferred Rate Mastercard does come with purchase protection and extended warranty, both of which can help add some peace of mind when you’re making day-to-day purchases.

5. The big bank advantage

As a BMO card, the Preferred Rate Mastercard is a good choice if you’re looking to keep things simple by maintaining all your accounts and credit card with a single provider.

Are there any drawbacks to the BMO Preferred Rate Mastercard?

While the BMO Preferred Rate offers a very competitive low interest rate, stronger alternatives can be found outside of the Big Five banks. When looking at the competition in this category, it’s wise to compare the regular interest rates, annual fees and balance transfer offers. Some cards, like the MBNA True Line Mastercard , may be a better option for you. 

Bottom line

If you’re looking for a low interest card from an established bank, the BMO Preferred Rate Mastercard is a good option. If you’re searching for the absolute lowest rates, balance transfer offers and annual fees, however, you might find something that suits you better. Check out our review of Canada’s best low interest credit cards to aid in your decision.

MORE ABOUT  CREDIT CARDS :

• Canada’s best credit cards
• Best no fee credit cards in Canada
• The best BMO credit cards  

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Affiliate (monetized) links can sometimes result in a payment to MoneySense (owned by Ratehub Inc.), which helps our website stay free to our users. If a link has an asterisk (*) or is labelled as “Featured,” it is an affiliate link. If a link is labelled as “Sponsored,” it is a paid placement, which may or may not have an affiliate link. Our editorial content will never be influenced by these links. We are committed to looking at all available products in the market. Where a product ranks in our article, and whether or not it’s included in the first place, is never driven by compensation. For more details, read our MoneySense Monetization policy .

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BMO Preferred Rate Mastercard®*

Card description.

Welcome offer: Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and we’ll waive the $29 annual fee for the first year.

• Enjoy our lowest interest rate of 13.99% on purchases and 15.99% on cash advances*
• Free extended warranty and purchase protection*
• Zero Dollar Liability: protects you from unauthorized use of your credit card*
• Worldwide Acceptance at over 30 million locations*

BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.

*Terms and conditions apply

Card Features

• Extended Warranty
• Purchase Protection

About This Card

The BMO Preferred Rate Mastercard®* is an excellent credit card to consider if you’ve bruised your credit score and are looking to repair it.

With this card, you get BMO’s preferred interest rate of 13.99%. Credit card lenders typically only allow clients who are in good standing credit-wise to access their preferred rate. 

The card's Zero Dollar Liability features protects you from unauthorized use of your credit card — another useful feature if you're trying to improve your credit rating. 

There is an annual fee of $29, but it is waived for the first year.

Plus, you only need a fair credit score to qualify (in the 575-649 range). However, if you’ve declared bankruptcy within the last seven years, your application will be denied.

New cardholders can transfer an existing balance onto the  BMO Preferred Rate Mastercard®* and only pay 0.99% on the balance for the first nine months. There's a one-time fee of 2% for transfers. 

By now, you might have the impression that the BMO Preferred Rate Mastercard®* is for practical types. That's not entirely true.

Get this: cardholders get 15% off of Cirque du Soleil tickets (applicable to Canadian stops only) and 20% off any of its Las Vegas residency shows. Balancing frugality with the occasional adventure? We think that's a balanced approach to personal finance. 

There are a number of extras you can add on to your account for an annual fee, like travel insurance, protection against identity theft, and special services that provide round-the-clock monitoring of your (ever-improving, we hope) credit score.

Fees to be aware of include the $29 over-limit fee and a $48 fee for dishonoured payments returned by your financial institution.

Why get the BMO Preferred Rate Mastercard®* ?

Viva Las Vegas  - Cardholders get 15% off Cirque du Soleil tickets and 20% off on tickets to its Las Vegas residency shows. 

Worry-free travel -  For an additional $129 a year, holders of the BMO Preferred Rate Mastercard®* who are also under 65 can apply for comprehensive travel insurance. Included in the package is BMO’s 31 Day Medical Protection, which provides up to $2-million in coverage for eligible expenses for trips up to 31 days in length. Also provided is BMO’s Travel Protection with Trip Cancellation insurance, which delivers coverage if you encounter an emergency, flight delay or baggage problem on your trip.

Additional insurance -   With BMO Travel Protection, for $35 a year, BMO Preferred Rate Mastercard®* holders can access collision damage waiver insurance for car rentals and unexpected return home and trip assistance. Also included in the program is a benefit that delivers up to $500,000 in common carrier accidental death and dismemberment insurance.

Products to help you rebuild your credit score - One of the unique add-ons offered to holders of the BMO Preferred Rate Mastercard®* is BMO’s CreditDefence product. For $18.99 a month, BMO and D+H, a global financial technology firm, will deliver a full report of your credit history, as well as your updated credit score. You’ll also receive activity alerts courtesy of CreditDefence, which will alert you any time your credit bureau file is impacted in a significant way. This service monitors your credit file 24/7.

Protect your balance - If you’re ever in a position where you can’t pay your bills, you may be able to draw on BMO’s Credit Card Balance Protection service. By signing up, you can get up to $15,000 in coverage for just 94 cents for every $100 of your total average daily balance. The example used by BMO breaks it down this way: if your total average daily balance was $1,000, you would pay just $9.40 for the month.

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BMO Preferred Rate Mastercard ® *   🇨🇦

• Low-interest
• Balance Transfer
• Accepted at Costco

• Welcome offer : Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee* and we’ll waive the $29 annual fee for the first year.*
• Enjoy our lowest interest rate of 13.99% on purchases*
• Purchase Protection and Extended Warranty*

Fees & Conditions

Travel insurance.

There may be a daily maximum amount depending on the type of fees paid

Other Insurance

The BMO Preferred Rate Mastercard is a Bank of Montreal credit card that offers:

• 0.99% introductory interest rate on Balance Transfers for 9 months
• First-year annual fee waiver

There is no minimum income requirement for this BMO credit card.

You can use this low-interest credit card at Costco because it is a Mastercard credit card.

Finally, you’ll receive insurance on purchases charged to your BMO Preferred Rate Mastercard.

• Best BMO Credit Cards - Bank of Montreal - April 2024
• Best Balance Transfer Credit Cards - April 2024
• Canada's Best Credit Card Offers - April 2024

Frequently Asked Questions

What is the best bmo low-interest credit card.

The best BMO low-interest credit card is the BMO Preferred Rate Mastercard®*. This credit card is one of the best low-interest credit cards in Canada.

Alternative Cards

• Digital Exclusive Offer
• Balance Transfer Offer
• Card Details

Transfer your credit card balance – Get 0% interest for up to 10 months with a 1% transfer fee † and a first year annual fee rebate †

Check full offer details below †

• Transfer up to 50% of your assigned credit limit †
• If you choose to carry a balance and you make your minimum payments on time, a balance transfer could save you money on interest
• Take advantage of this 0% introductory interest rate on balance transfers for your first 10 months. You’ll only have to pay a 1% fee † when you transfer your balance from another card to the CIBC Select Visa Card
• This balance transfer offer is only available at the time of your online application. † Simply tick the checkbox to select the balance transfer option when you’re filling out your application

Once you take advantage of this offer, you will have a promotional rate balance on your account. As a result, you will lose your interest-free grace period on new purchases unless you pay your amount due, including any promotional rate balances, in full each month. While you will enjoy the promotional rate on the balances you transfer by using this offer, new purchases will be subject to the purchase interest rate.

Save on gas with CIBC and Journie Rewards

Link and use your CIBC Select Visa Card with Journie Rewards to save up to 10 cents per litre † at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations. †

This is a digital-exclusive offer. † To be eligible for this offer, you must apply for a new eligible card using the “Apply Now” link available on this webpage. †

† Terms and Conditions apply

• Primary card $29
• Additional card $0
• Individual $0
• Household $15,000
• Purchase Rates 13.99 %
• Cash Advance Rates 13.99 %
• Balance Transfer Rates 13.99 %
• Best CIBC Credit Cards - April 2024
• How does credit card balance transfer work?
• Year 2+ $-29
• Annual Credit
• VIP Lounges
• Travel credit
• Low-interest on cash advances
• 0% introductory interest rate on Balance Transfers for the first 10 months (12.99% after that; annual fee $29). Plus no annual fee in the first year. Offer ends 31 Oct 2024.
• Save up to hundreds of dollars a year on interest
• Low interest rate of 12.99%
• Pay down higher interest rate balances faster
• Transfer higher rate balances and save even more

*Conditions apply.

• Individual $12,000
• Household $12,000
• Purchase Rates 12.99 %
• Cash Advance Rates 12.99 %
• Balance Transfer Rates 12.99 %
• Best Scotiabank Credit Cards - April 2024
• Best Low-Interest Credit Cards in Canada - April 2024

*Terms and conditions apply

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information

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Find the best credit card for you

Here are the 3 best chase balance transfer credit cards of 2024, save money with these chase credit cards that offer 0% introductory aprs on balance transfers..

Credit card interest rates are often higher than other financial products like personal loans or mortgages so it's best to pay off your credit card balance in full every month . However, that isn't always possible so many people may wind up with high-interest credit card debt. In these situations, taking advantage of a 0% balance transfer offer can reduce the interest you pay and help you pay off your credit card debt more quickly.

Chase is known for issuing some top travel credit cards , but it also has several cards that offer an intro 0% APR for balance transfers. Consider these Chase balance transfer credit cards if you're hunting for a balance transfer offer. (See our methodology for information on how we chose the best Chase balance transfer credit cards).

Best Chase balance transfer credit cards

• Best for long intro APR: Chase Slate Edge℠
• Best for cash back: Chase Freedom Unlimited®
• Best for rotating bonus categories: Chase Freedom Flex℠

Best for long intro APR

Chase slate edge℠, welcome offer.

Get an automatic review for a credit limit increase when you pay on time and spend $500 in your first six months.

0% for 18 months from account opening on purchases and balance transfers

Regular APR

20.49% - 29.24% variable

Balance transfer fee

Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.

Foreign transaction fee

Credit needed.

Excellent/Good

Member FDIC. Terms apply. Information about the Chase Slate Edge℠ has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

• No annual fee
• Lower your interest rate by 2% each year: Automatically be considered for an APR reduction when you pay on time, and spend at least $1,000 on your card by your next account anniversary
• 3% foreign transaction fee
• No rewards program

Who's this for? The Chase Slate Edge℠ does one thing, and it does it well — reduce the interest you pay. Its longer-than-usual introductory APR offer makes it ideal for those seeking more time to pay off their balance.

Balance transfer offer : New cardholders are eligible for an intro 0% APR on eligible balance transfers and purchases for 18 months from account opening, then a 20.49% to 29.24% variable APR applies. This is one of the longest intro APR offers available and is especially useful since it applies to purchases, too.

An intro balance transfer fee of either $5 or 3% of the amount of each transfer (whichever is higher) applies to transfers completed in the first 60 days of account opening. After that, the balance transfer fee is $5 or 5% of the amount of each transfer (whichever is higher).

[ Jump to more details ]

Best for cash back

Chase freedom unlimited®.

Enjoy 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 3% cash back on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

Welcome bonus

INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

0% for the first 15 months from account opening on purchases and balance transfers

3% of each transaction in U.S. dollars

Member FDIC. Terms apply.

Read our Chase Freedom Unlimited® review.

• Rewards can be transferred to a Chase Ultimate Rewards card
• Generous welcome bonus
• 3% fee charged on foreign transactions

Who's this for? The Chase Freedom Unlimited® is geared toward those who want to earn cash back on their everyday spending and still want access to a helpful intro APR offer.

Balance transfer offer : New card members receive an intro 0% APR for purchases and balance transfer for the first 15 months, after that a variable 20.49% to 29.24% APR applies. For the first 60 days of account opening, there's an intro balance transfer fee of 3% of the amount of each transfer ($5 minimum). After that, a standard balance transfer fee of $5 or 5% of the amount of each transfer applies, whichever is greater.

Best for rotating bonus categories

Chase freedom flex℠.

5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases

Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.

Member FDIC. Terms apply. Information about the Chase Freedom Flex℠ has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

Read our Chase Freedom Flex℠ review.

• Opportunity to earn up to 5% cash back in select categories upon activation
• Bonus categories must be activated each quarter

Who's this for? The Chase Freedom Flex℠ is a great card for anyone who enjoys squeezing the most value out of their credit card thanks to its generous rotating quarterly bonus categories.

Balance transfer offer : New cardholders can take advantage of a 0% intro APR for the first 15 months on purchases and balances transfer, then a 20.49% to 29.24% variable APR applies. An intro balance transfer fee of either $5 or 3% of the amount of each transfer applies to transfers completed in the first 60 days. After that, the standard balance transfer fee is 5% of the amount of each transfer or $5, whichever is greater.

More on our top Chase balance transfer credit cards

The Chase Slate Edge℠ is a no annual fee card with several features that can help you pay less interest, but doesn't earn rewards.

Get an automatic review for a higher credit limit when you pay on time and spend $500 in the first six months.

Notable perks

With the Chase Slate Edge , you are automatically considered for a 2% APR reduction if you pay your monthly bill on time and spend at least $1,000 on the card before your next account anniversary (terms apply). While you'll want a plan to pay off your balance transfer before the interest kicks in, this feature can help you lower your APR compared to what you might pay with other credit cards.

This card's insurance benefits include purchase protection, extended warranty protection, roadside dispatch and rental car collision and theft coverage (secondary in the U.S.).

[ Return to card summary ]

The Chase Freedom Unlimited® is one of CNBC Select's top no-annual-fee cash-back credit cards with a unique intro bonus and a handful of useful benefits to complement its cash-back earnings.

• 6.5% cash back on travel booked through Chase Travel
• 5% back on Lyft rides (through Mar. 31, 2025)
• 4.5% cash back on dining
• 4.5% cash back at drug stores
• 3% cash back on all other purchases (on up to $20,000 spent in the first year)

Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year).

Cardholders can earn 5% cash back on Lyft rides through March 2025 and enroll for three complimentary months of DashPass (activate by Dec. 31, 2024). Purchases are also covered by a range of built-in protections like rental car collision damage insurance (secondary in the U.S.), extended warranty coverage, purchase protection and trip cancellation and interruption insurance.

While this is a cash-back credit card , you can boost the value of the rewards you earn by pairing this card with a Chase card that allows points transfers (such as the Chase Sapphire Preferred® Card ). By transferring the rewards you earn to travel partners like World Hyatt, United MileagePlus and Air Canada Aeroplan, you can potentially book luxury hotels and flights for fewer points.

The Chase Freedom Flex℠ packs a punch with generous rewards in bonus categories that change every quarter and an easy-to-earn welcome bonus.

• 5% cash back on the first $1,500 spent in categories that change each quarter, then 1% cash back (activation required)
• 5% cash back on travel booked through Chase Ultimate Rewards®
• 3% cash back on dining
• 3% cash back at drug stores
• 1% cash back on all other purchases

Earn a $200 bonus after spending $500 on purchases in the first three months from account opening. 

Cardholders receive discounts and special perks with partners like Lyft and DoorDash. There are also many valuable built-in protections for a no-annual-fee card, including:

• Cell phone insurance
• Rental car insurance (secondary in the U.S.)
• Extended warranty coverage
• Purchase protection
• Trip cancellation and interruption insurance

When you have a Chase card that unlocks the ability to transfer Chase points to hotel and airline partners (like the Chase Sapphire Preferred® Card) , it increases the value of the Freedom Flex. So this isn't only a strong standalone rewards credit card , but it has synergies with other cards.

How to complete a Chase balance transfer

Chase typically charges a balance transfer fee from 3% to 5% with a $5 minimum. Before you complete a balance transfer , be sure the interest you save will outweigh the fee.

There are several ways to do a balance transfer with Chase. One of the best and easiest options is to complete a balance transfer when you apply for a card. When you do this, you'll be able to make the most out of your intro APR because any 0% interest timeframe you qualify for begins when you open the card.

If you want to perform a balance transfer with a Chase card you already have, you'll need to log in to your account and follow these steps:

• Click "Pay & Transfer"
• Then click on the "Transfer" dropdown menu
• Select "Card balance transfers"

You can then select any of your Chase cards from a dropdown menu and see what balance transfer offers are available.

Are Chase balance transfers worth it?

When you make a balance transfer, you'll generally pay a fee of 3% to 5% of the balance. To determine whether a balance transfer is worth it, calculate how much you would save in interest compared to how much you'd pay in transfer fees.

What is one disadvantage of a 0% interest balance transfer card?

Aside from the balance transfer fees, the biggest downside to a balance transfer is you'll have the same amount of credit card debt as before. If you don't have a plan, or the resources, to pay off your debt before the intro APR expires, you'll be stuck paying interest once again.

Do balance transfers hurt your credit?

A balance transfer doesn't directly hurt your credit score and could help improve your credit if you're able to pay down your debt. However, you'll want to keep in mind that your credit score will temporarily dip when you apply for new credit (including a balance transfer card).

Bottom line

The top balance transfer cards Chase issues offer intro APR periods of 15 to 18 months, and these intro APR offers also apply to purchases, making them even more useful. If you're interested in paying less interest , these are some of the best offers available. When you're in credit card debt, your primary focus should be repayment, not earning rewards, but the fact that some of the cards on this list earn rewards is a nice bonus.

Why trust CNBC Select?

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card   article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card   products .  While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See  our methodology  for more information on how we choose the best Chase balance transfer credit cards.

Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox.  Sign up here .

Our methodology

To determine which Chase cards are best for balance transfers, CNBC Select analyzed the Chase credit cards with intro APR balance transfer offers. We compared each card on a range of features, including the annual fee, rewards, welcome bonus and balance transfer fee. We also considered additional perks, consumer protections, the application process when available and how easy it is to redeem rewards. However, when you're in credit card debt, your priority should be repayment, so we focused more on the cards that provide consumers with the cheapest ways to pay off their debt rather than the number of rewards they could potentially earn.

Catch up on CNBC Select's in-depth coverage of  credit cards ,  banking  and  money , and follow us on  TikTok ,  Facebook ,  Instagram  and  Twitter  to stay up to date.

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13 Best Credit Cards for Everyday Use of April 2024

Best credit cards for everyday spending of 2024, best 2% cash rewards card: wells fargo active cash® card, wells fargo active cash® card.

After spending $500 in purchases in the first 3 months

Why we chose it: The Wells Fargo Active Cash offers an unlimited 2% cash rewards back on purchases with no hoops to jump through, plus a few nice-to-have perks like cellphone insurance with a $25 deductible. Read our Wells Fargo Active Cash review .

• Offers one of the highest flat rates available for purchases
• Cell phone protection benefit (subject to a $25 deductible)
• Benefits include an intro APR offer on purchases and balance transfers
• No extended warranty or purchase protection benefit
• Reward redemption minimums

Alliant Cashback Visa® Signature Credit Card

Why we chose it: The Alliant Cashback Visa® Signature Credit Card doesn’t come with a lot of perks, but it offers the chance to earn one of the highest flat rates around. Read our Alliant Cashback Visa Signature Credit Card review .   

• Earns 2.5% cash bank on the first $10,000 spent each billing cycle
• No foreign transaction fee
• No annual fee
• Must meet various requirements to qualify for 2.5% cash back
• Limited cash back redemption options
• No welcome bonus

Best for Everyday Purchases: Blue Cash Preferred® Card from American Express

Why we chose it: The Blue Cash Preferred Card earns rewards in several everyday categories, including 6% cash back on U.S. supermarket purchases on up to $6,000 spent per year (then 1%) and 3% cash back at U.S. gas stations. The card also offers the trifecta of consumer benefits—return protection*, purchase protection* and extended warranty*—making it a great choice for your occasional high-ticket purchases as well. Read our Blue Cash Preferred Card from American Express review .

• Offers one of the highest cash back rates available for U.S. supermarket purchases
• $0 intro annual fee for the first year, then $95
• Extended warranty*, purchase protection* and return protection*
• $95 annual fee after the first year ($0 intro fee)
• U.S. supermarket rewards capped at $6,000 annually
• Only 1% cash back on other purchases

Best ThankYou Points Card: Citi Double Cash® Card

Citi double cash® card.

$200 cash back when you spend $1,500 on purchases within the first six months of opening your Citi Double Cash® card account

Why we chose it: The Citi Double Cash earns 1% cash back when you spend and 1% back when you pay. Your cash back is technically earned as Citi ThankYou points and can be combined across accounts. If you hold the Citi Premier® Card , you can transfer your ThankYou points to airline and hotel transfer partners. Read our Citi Double Cash review .

• Up to 2% cash back on every purchase (1% when you buy and 1% when you pay)
• Long intro APR offer on balance transfers
• Flexible redemption options
• Intro APR applies to balance transfers only
• No substantive benefits beyond rewards

Best for Flat-Rate Rewards and Flexible Travel Redemptions: Capital One Venture Rewards Credit Card

Capital one venture rewards credit card.

After spending $4,000 in first 3 months from account opening

Why we chose it: For busy travelers who value simple, straightforward rewards, the Capital One Venture Rewards Credit Card is a solid flat-rate travel rewards credit card . Miles can be redeemed in several ways, including transferring to select airline and hotel partners for travel purchases. The card also comes with some travel and purchase protection benefits. Read our Capital One Venture Rewards Credit Card review .

• Above-average flat rate on all purchases 
• Bonus miles for hotels and rental cars booked through Capital One Travel 
• No foreign transaction fees
• $95 annual fee
• No introductory APR offer

Best for Relationship Banking: Bank of America® Unlimited Cash Rewards credit card

Bank of america® unlimited cash rewards credit card.

After making at least $1,000 in purchases in the first 90 days of your account opening

Why we chose it: The Bank of America Unlimited Cash Rewards card offers a modest 1.5% cash back on every purchase with no annual fee. And when you hold assets with Bank of America or Merrill, you can qualify for up to a 75% bonus on your credit card rewards through the Preferred Rewards program.

• 1.5% cash back on all purchases
• $200 online cash bonus after spending $1,000 in first 90 days
• Boosted rewards rates require at least $20,000 in assets
• No bonus categories
• Minimal additional benefits

Best Ultimate Rewards Card: Chase Freedom Unlimited®

Chase freedom unlimited®.

On Bankrate Credit Cards's secure site

Earn an extra 1.5% on everything you buy with your card (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.

Why we chose it: With the Chase Freedom Unlimited, you’ll earn a minimum of 1.5% cash back on your everyday spending, technically rewarded as Ultimate Rewards points. These points can be transferred to your Chase Sapphire Preferred® Card or Chase Sapphire Reserve® and redeemed for increased value toward travel. Learn more with our Chase Freedom Unlimited review .

• Extended warranty and purchase protection
• Earn 3% cash back on dining at restaurants (including takeout and eligible delivery service) and on drugstore purchases
• Available for those with good to excellent credit
• Can’t directly transfer rewards to Chase airline and hotel partners

Best for Small-Business Owners: Capital One Spark Cash Plus

Capital one spark cash plus.

Why we chose it: Most other small-business cards offering 2% cash rewards cap the amount of cash back you can earn. But the Capital One Spark Cash Plus card is a charge card with no preset spending limited that earns unlimited 2% cash back on all of your everyday business spending. Read our Capital One Spark Cash Plus review .

• Unlimited 2% cash back rewards
• No preset credit limit
• Annual fee refunded when you spend at least $150,000
• $150 annual fee
• Limited additional benefits
• No financing options

Best for Food and Entertainment: Capital One SavorOne Cash Rewards Credit Card

Capital one savorone cash rewards credit card.

Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening

Why we chose it: The Capital One SavorOne Cash Rewards Credit Card earns an unlimited 3% cash back in four popular everyday spending categories: dining, entertainment, select streaming services and at grocery stores, excluding superstores like Target and Walmart. And travelers will appreciate the opportunity to earn 5% cash back on hotel and rental cars booked through Capital One Travel—all for no annual fee. Read our Capital One SavorOne Cash Rewards Credit Card review .

• Generous rewards in popular everyday and entertainment categories
• 5% cash back on hotels and rental cars booked through Capital One Travel 
• Only 1% cash back on purchases outside the bonus categories 
• Bonus grocery category excludes Walmart and Target purchases 
• Minimal card benefits

Best for Bonus Rewards Categories: Wells Fargo Autograph℠ Card

Wells fargo autograph℠ card.

After spending $1,000 in purchases in the first 3 months

Why we chose it: The Wells Fargo Autograph℠ Card has no annual fee and earns an unlimited 3X points in six popular spending categories: dining, travel, gas, transit, select streaming services, and phone plans. Other purchases outside of these categories earn an unlimited 1X points. As a bonus, this card includes valuable perks like cell phone protection insurance. Read our Wells Fargo Autograph℠ Card review .

• Bonus rewards for travel and everyday spending 
• Intro APR offer on purchases 
• No intro APR offer for balance transfers 
• Limited travel perks compared to top travel cards

Best Membership Rewards Card for Business Owners: The Blue Business® Plus Credit Card from American Express

Why we chose it: If you’re a small-business owner collecting Membership Rewards points, the card you want to use for your everyday spending is the Amex Blue Business Plus. Most Membership Rewards-earning credit cards only earn 1 point per dollar on everyday purchases, but the Blue Business Plus earns 2X points on up to $50,000 in purchases per year (then 1X points). Read our Blue Business Plus Credit Card from American Express review .

• 2X Membership Rewards points on purchases (up to $50,000 in purchases per calendar year, then 1X points)
• $0 annual fee
• Intro APR on purchases
• 2X rewards capped at $50,000 per year (then 1X points)
• Limited additional travel benefits
• Amex Membership Rewards can be complicated to use

Best for Utilities and Cell Phone Spending: U.S. Bank Cash+® Visa Signature® Card

U.s. bank cash+® visa signature® card.

After you apply online and spend $1,000 in eligible purchases within the first 120 days of account opening

Why we chose it: The U.S. Bank Cash+® Visa Signature® Card has no annual fee and offers personalized rewards. Cardholders can earn 5% cash back on purchases (on up to $2,000 in combined eligible purchases each quarter, then 1%) across two categories of their choosing. There are plenty of options to choose from, including home utilities, cell phone and fast food. This everyday spending card also offers 2% cash back in one everyday spending category of your choice, like grocery stores or restaurants, and 1% on all other purchases. Read our U.S. Bank Cash+® Visa Signature® Card review .

• Customizable rewards with unique categories like utilities and cell phone spending 
• 2% on everyday spending in one top category choice 
• 5% cash back earnings are capped at $2,000 in combined spending per quarter
• $25 minimum redemption for cash back rewards

Best for Amazon and Whole Foods: Amazon Prime Visa Card

Instantly upon approval exclusively for Prime members

Why we chose it: The Amazon Prime Visa Card is ideal for Prime members who frequently buy groceries and essentials at Amazon and Whole Foods. Prime members earn an unlimited 5% cash back on Amazon.com, Amazon Fresh, and Whole Foods Market spending, and travel purchases booked through the Chase Travel portal. Cardholders also earn an unlimited 2% cash back on the following everyday spending categories: restaurants, gas stations, and local transit and commuting purchases, while earning an unlimited 1% on other purchases. Rewards can be redeemed as soon as the next day. Read our Amazon Prime Visa Card review .

• High rewards on Amazon, Amazon Fresh, and Whole Foods purchases 
• No annual fee 
• Non-Prime members earn 3% rewards on Amazon, Amazon Fresh, and Whole Foods purchases
• Meager welcome bonus

A Closer Look at the Best Credit Cards for Everyday Use

Best 2% cash back card: wells fargo active cash card.

Why we love this card: The Wells Fargo Active Cash offers 2% cash rewards back on purchases, plus cell phone protection (subject to a $25 deductible) and secondary auto rental collision damage waiver insurance for no annual fee. This is more generous than other 2% cards available. You can also enjoy a 0% intro APR on purchases and balance transfers for 15 months (after that, it’s a variable APR of 20.24%, 25.24% or 29.99%).

Who should have this in their wallet: The busy spender who values simplicity will appreciate the Wells Fargo Active Cash. The card’s no-nonsense 2% cash rewards make it great to use everywhere you can’t earn more rewards in a specific spending category. If your preference is to carry a single card, the Wells Fargo Active Cash should be on your credit card shortlist.

Other cards to consider: If you want 2% cash back with no hoops, the Citi Double Cash is an alternative, but it doesn’t offer cell phone protection or an auto rental collision damage waiver. For even more flat-rate rewards, consider the Alliant Cashback Visa® Signature Credit Card , which offers the chance to earn up to 2.5% cash back on all purchases (up to $10,000 in qualifying purchases each billing cycle, then 1.5% back).

Best for 2.5% Flat-Rate Rewards: Alliant Cashback Visa Signature Credit Card

Why we love this card: Cardholders can earn an impressive 2.5% cash back on purchases. And the $10,000 spending cap per billing cycle is generous enough that many people will likely have no problem staying under the limit. Anyone who does go over the limit can still earn an above-average 1.5% cash back on purchases for the remainder of the billing cycle.

Who should have this in their wallet: People who prefer a generous flat-rate cash back credit card over bonus rewards cards can benefit from the Alliant Cashback card. But you’ll need to meet a few requirements like opting in for eStatements, making at least one electronic deposit into your account each month and keeping at least a $1,000 average daily balance.

Other cards to consider: If you want fewer hoops to jump through for a higher rewards rate, look into the Citi Double Cash Card which lets you earn 1% cash back for each transaction, and another 1% when you pay for those purchases. The Chase Freedom Unlimited card earns a steady unlimited 1.5% cash back on your purchases along with bonus rewards for dining, drugstore purchases and travel purchased through Chase Travel.

Best for Everyday Purchases: Blue Cash Preferred Card from American Express

Why we love this card: If gas at U.S. gas stations, transit and purchases at U.S. supermarket are your biggest everyday expenses, the Blue Cash Preferred from American Express delivers. It also comes with excellent consumer benefits.

Who should have this in their wallet: The family grocery shopper who spends around $6,000 at U.S. supermarkets each year should have the Blue Cash Preferred in their wallet. Put your first $6,000 at U.S. supermarkets on the card, plus all of your gas at U.S. gas stations and transit spending and you’ll earn the most rewards. If your annual bill at U.S. supermarkets is much more than $6,000, you might want to pick up another card for your additional spending, since purchases at U.S. supermarkets beyond $6,000 a year will earn only 1% cash back.

Other cards to consider: For rewards at U.S. gas stations and at U.S. supermarkets with no annual fee, look toward the Blue Cash Everyday® Card from American Express ( see rates and fees ). If your everyday spending includes more entertainment purchases and dining, look at the Capital One SavorOne Cash Rewards Credit Card .

Best ThankYou Points Card: Citi Double Cash Card

Why we love this card: With the Citi Double Cash, you can combine ThankYou points across all of your ThankYou points-earning cards. If you hold the Citi Premier Card, you can transfer the points you earn to airline and hotel transfer partners and redeem them for luxury travel, often getting more than 1 cent per point in value. Add the Citi Rewards+® Card to the mix, and you’ll get a 10% rebate on the points you redeem (up to 100,000 points) each year.

Who should have this in their wallet: If you’re invested in the Citi ThankYou points ecosystem, the Citi Double Cash is the everyday spending card you want. Alone, the card is bested by other 2% cards, but when paired with other Citi ThankYou points cards, the Double Cash gets much more valuable.

Other cards to consider: If you’re just looking for 2% cash rewards back on purchases, the Wells Fargo Active Cash is a better choice. The Active Cash has a few additional benefits too, like cell phone protection (subject to a $25 deductible) and a secondary auto rental collision damage waiver that give it an edge.

Why we love this card: The Capital One Venture Rewards Credit Card earns a flat rate of 2X unlimited miles on all purchases and 5X miles on rental cars and hotels booked through Capital One Travel. It offers perks and flexible redemptions for an affordable $95 annual fee. 

Who should have this in their wallet: Travelers who want to earn straightforward rewards can benefit from using this everyday spending card. Cardholders can also benefit from the flexible redemption options, including the ability to redeem their rewards as reimbursement for past travel purchases made with their card through statement credits and book travel directly through the Capital One Travel portal.

Other cards to consider: The Chase Sapphire Preferred Card is one of the most well-rounded travel credit cards. Cardholders earn bonus rewards in travel and select everyday categories and have plenty of flexible redemption options to choose from. This includes transferring rewards to select airline and hotel partners.

Best for Relationship Banking: Bank of America Unlimited Cash Rewards credit card

Why we love this card: Getting heightened cash back everywhere as a member of the Preferred Rewards program makes the Bank of America Unlimited Cash Rewards card the best everyday spending card for people who can bring at least $20,000 in assets to eligible Bank of America or Merrill accounts. The upshot is that, if you have transferable assets, you can bring them to Merrill without changing your investment strategy.

Who should have this in their wallet: The savvy investor who is willing to bring assets to Merrill should get the Bank of America Unlimited Cash Rewards card. That way, you’ll get a 25% to 75% bonus on your credit card rewards.

Other cards to consider: If you’re going to bring assets to Bank of America to qualify for a tier of its Preferred Rewards program, consider the other Bank of America credit cards . The Bank of America® Premium Rewards® credit card has an annual fee of $95 but earns 2X points on travel and dining in addition to 1.5X points everywhere else. Plus, the Bank of America® Customized Cash Rewards Credit Card can augment your wallet with 3% cash back in a category of your choice ($2,500 quarterly spending cap on 3% and 2% category purchases, then 1% back).

Best Ultimate Rewards Card: Chase Freedom Unlimited

Why we love this card: The Chase Freedom Unlimited not only offers unlimited 1.5% cash back on everyday spending outside of bonus categories, but also 3% back on dining at restaurants and on drugstore purchases, 5% back on travel purchased through Chase Travel and 5% back on qualifying Lyft rides through March 31, 2025. Perhaps the best feature of this card is that you can transfer your rewards to a premium card like the Chase Sapphire Preferred or Chase Sapphire Reserve and get increased value when you redeem them for travel through Chase Ultimate Rewards.

Who should have this in their wallet: The frequent traveler who already carries the Chase Sapphire Preferred or Chase Sapphire Reserve should strongly consider making the Chase Freedom Unlimited their everyday spending card. Picking up this card will increase the rewards you earn on your everyday purchases by 50%, allowing you to more quickly accumulate the points you need for your dream trip.

Other cards to consider: Other cards to consider: Chase also offers the Chase Freedom Flex℠ , which is a better fit for cardholders who prefer a combination of fixed and rotating bonus categories.

Why we love this card: Small-business owners have very few options if they want to earn 2% cash back on everyday spending using a business card. But that’s exactly what the Capital One Spark Cash Plus offers. The card comes with a high $150 annual fee, but we appreciate that spending $150,000 on the card gets the annual fee refunded.

Who should have this in their wallet: For small-business owners who use a credit card to pay for a sizable amount of everyday business expenses, the Capital One Spark Cash Plus is the right tool. The card is a particularly good choice for small-business owners who spend over $150,000 each year on their card.

Other cards to consider: If you spend less than $50,000 each year on purchases for your small business, American Express has two cards with no annual fee that you should consider: The American Express Blue Business Cash Card ( see rates and fees ) offers 2% cash back on up to $50,000 in purchases per calendar year (then 1% back), and The Blue Business® Plus Credit Card from American Express earns 2X points on eligible business purchases on up to $50,000 in purchases per calendar year (then 1X points).

Why we love this card: The Capital One SavorOne Cash Rewards Credit Card earns an unlimited 3% cash back on dining, entertainment, popular streaming services, and at grocery stores. It also offers 5% cash back on hotels and rental cars booked through Capital One Travel—all for no annual fee. 

Who should have this in their wallet: If you want a no-annual-fee credit card, value cash back rewards, and are a big entertainment, dining, and grocery store spender, this card may meet your needs. Eligible purchases beyond the bonus rewards categories highlighted above (and some others, like 8% cash back on Capital One Entertainment purchases) only earn 1% cash back. But this card could pair nicely with a rewards credit card offering a flat-rate 2% reward on all purchases. 

Other cards to consider: If you’re a big grocery spender and don’t mind paying a $95 annual fee ($0 introductory fee for the first year), the Blue Cash Preferred® Card from American Express offers 6% cash back on up to $6,000 per year at U.S. supermarkets, then 1%. It also offers generous rewards in several other spending categories.

Why we love this card: The Wells Fargo Autograph℠ Card gives everyday spenders flexibility by offering unlimited 3X points in six top spending categories. The average consumer likely spends in several of these purchase categories. This no-annual-fee card has a sizable welcome bonus and provides extra perks like cell phone protection (subject to a $25 deductible). 

Who should have this in their wallet: The spender who wants a no-annual-fee credit card that offers rewards for restaurant, travel, gas, transit, streaming service, and phone service spending. This card is a solid choice for anyone who regularly spends in these common purchase categories. 

Other cards to consider: If you don’t spend much money in the six top spending categories highlighted above and prefer to earn flat-rate cash back rewards, the Wells Fargo Active Cash may be a better fit. You’ll earn an unlimited 2% cash back on all spending, regardless of purchase categories. This credit card also has no annual fee and includes cell phone protection insurance (subject to a $25 deductible).

Best Membership Rewards Card for Business Owners: The Blue Business Plus Credit Card from American Express

Why we love this card: The Blue Business Plus Credit Card from American Express serves an important purpose in your wallet—earning you 2X Membership Rewards points on everyday spending (up to $50,000 in purchases per calendar year, then 1X points). But the card is also one of the few cards that earns transferable points with no annual fee. Membership Rewards points accumulate in a single pool across all of your cards, so if you decide to cancel one of your other Membership Rewards-earning cards with an annual fee, you can keep your points alive with the Blue Business Plus.

Who should have this in their wallet: The Amex-carrying business traveler will want to add the Amex Blue Business Plus card to their wallet to increase the rewards they earn on everyday spending. If you’re in the Membership Rewards ecosystem, you’re likely a frequent traveler who’s looking for airport lounge access or charging a lot of travel expenses. Having the Blue Blue Plus card in your wallet can double the rewards you earn compared to other Amex cards.

Other cards to consider: If your everyday spending happens mostly at the grocery store, Amex has another card you should consider. The Amex EveryDay® Preferred Credit Card earns 3X points at U.S. supermarkets on up to $6,000 in spending per year (then 1X points) for a $95 annual fee.

All information about the Amex EveryDay® Preferred Credit Card has been collected independently by Newsweek.com. The Amex EveryDay® Preferred Credit Card is no longer available through Newsweek.com.

Why we love this card: The U.S. Bank Cash+® Visa Signature® Card gives cardholders flexibility by providing heightened rewards in multiple spending categories, including fast food, home utilities, cell phones and electronic stores. You can earn 5% cash back in two eligible spending categories of your choosing, 2% cash back in one chosen spending category and 1% cash back on other purchases made with your card.  

Who should have this in their wallet: This everyday spend credit card has no annual fee and is worth a closer look if you spend a significant amount of money in some of the available spending categories typically not found with other cash back credit cards —like home utilities and cell phones. Plus, there are no spending caps, so it offers unlimited rewards. Keep in mind that this credit card lacks additional benefits beyond rewards. 

Other cards to consider: If you don’t want to bother with purchase categories and prefer a flat-rate rewards structure , the Wells Fargo Active Cash credit card also has no annual fee and earns 2% cash back rewards on all spending. It also has additional card perks like cell phone protection insurance, subject to a $25 deductible.

Why we love this card: Earning 5% cash back on Amazon.com, Amazon Fresh, and Whole Foods Market purchases is a win for Amazon Prime members. With the Amazon Prime Visa, you can earn unlimited rewards. It has the added benefit of earning 5% cash back on Chase Travel bookings and 2% cash back at gas stations, restaurants, and local transit.

Who should have this in their wallet: Prime members who frequently shop at Amazon.com, Amazon Fresh, and Whole Foods Market will get the most value from this everyday credit card. While the Amazon Prime Visa has a low-value welcome offer, that’s not unexpected for a credit card with no annual fee. 

Other cards to consider: If you don’t like the prices at Whole Foods or don’t want to pay for a Prime membership, there are other options. Budget shoppers will enjoy the Capital One Walmart Rewards® Mastercard® which offers high bonus rewards for purchases made at Walmart.com. That can cover a range of categories, including groceries that you can pick up or have delivered. You may also want to consider the versatile Citi Custom Cash® Card which offers high rewards in an eligible spending category each billing cycle. Spending categories include grocery stores, travel, transit and restaurants.

Are Everyday Credit Cards Worth It?

Building your wallet around a few credit cards that offer increased rewards where you spend the most is a great idea, but don’t overlook having an everyday credit card for your other purchases. Having an everyday credit card can increase the rewards you earn outside of bonus categories. If you do a lot of spending in places where your other cards only offer 1 point per dollar or you want the simplicity of carrying only one card, you should add an everyday credit card to your wallet.

Maximizing Credit Cards for Everyday Spending

Want to get more value and earn more rewards every time you swipe your credit card? 

The following tips can help you maximize the rewards you earn when making everyday purchases with your cards.

Choose the Best Card for Your Typical Spending 

As you research the best credit card for everyday use options, consider which card will provide the most rewards based on your typical spending patterns. You’ll want to choose a credit card that aligns with your usual everyday spending habits. 

For example, if your top spending categories are gas, restaurants, and dining, it wouldn’t make sense to get a rewards credit card that offers rewards for travel and entertainment purchases. An ideal rewards card will make it easy to earn rewards without changing your spending habits. 

Prioritize the Rewards You Want to Earn 

Before selecting an everyday spending credit card, consider what rewards you want to earn with your card. Some card users prefer to keep things simple, so they look for a card that offers cash back or a statement credit.

But if you value flexibility when redeeming your rewards, choosing a rewards card with flexible redemption options may be the best move. Some cards allow you to redeem your rewards for cash back, gift cards, or travel. Having more flexibility means you have options. 

Paying Off Your Balance 

When using credit cards, the best strategy is to pay the entire statement balance off every month. Otherwise, you’ll pay credit card interest fees, which can be costly and add up fast. 

When using everyday credit cards, make it a priority to only charge what you can afford so you don’t rack up costly credit card debt . Carrying a balance on your card will cost you money and can cancel out the rewards you earn. Avoid paying credit card interest to maximize the value you get from the best everyday credit cards.

How Do I Choose the Best Everyday Credit Card for Me?

If you prefer simplicity and are looking for a single card to use everywhere, here’s how to choose the best credit card that will match your everyday spending.

Your Everyday Spending Habits 

When comparing everyday spending credit cards, focus on ones with rewards that align with your typical spending habits. If you’re unsure of your top spending categories, review your recent bank and credit card statements to see your most frequent purchases. Choosing an everyday spending credit card that fits your spending patterns can help you maximize your rewards.

Type of Everyday Rewards 

Not every everyday rewards credit card is the same. Some cards offer flat-rate rewards, meaning you’ll earn a set rewards rate for every purchase you make with your credit card. 

Other credit cards offer higher-tier rewards for purchases made in select bonus categories and a flat-rate reward for purchases outside those categories. For example, a card may offer 3% cash back on travel, dining, and grocery purchases and 1% cash back on other purchases. 

For credit cards with bonus categories, if your typical spending habits match those categories, it could be an excellent way to boost your rewards. Otherwise, flat-rate rewards can offer more simplicity if your day-to-day spending varies or you spend in several categories every month. 

Additional Card Features and Benefits 

Many everyday spending credit cards include helpful features and benefits that appeal to cardholders. You’ll want to choose a card with features that will add value to your life. For example, some everyday spending cards for travelers may include travel protections. 

Some other best everyday credit cards may provide extended warranty or purchase protection perks. Review the benefits offered and consider whether you will use them to select a suitable card. If the benefits offered aren’t of value to you, look elsewhere to find the best credit card for everyday spending that fits your needs.

Annual Fees 

Annual fees are another consideration when choosing an everyday spending credit card. Some credit cards charge annual fees, but there are also no-annual-fee credit cards if you want to avoid extra fees. You should only get a credit card with an annual fee if it’s within budget. 

It would also be best to consider whether the card’s benefits and rewards opportunities match the yearly fee being charged. If there’s an annual fee, but you won’t use the perks or features provided, you should explore another best credit card for everyday spending. 

Interest Rates 

Of course, you should do what you can to avoid carrying a balance on your credit card to avoid paying additional interest fees. But even if you usually pay off your statement balance, it’s wise to compare the annual percentage rate ( APR ) of the everyday credit card you’re considering.

Why? You’ll want to know how much interest you’ll pay if you carry a balance on your credit card account. While credit card interest rates are typically high, choosing an everyday spending credit card with a lower interest rate can save you money in fees.

*Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.

Frequently Asked Questions

What is an everyday credit card.

An everyday credit card is a credit card that earns better-than-average rewards across popular top spending categories. You should look for an everyday credit card that provides rewards for purchases you make on an ordinary day. If your day-to-day spending is exclusively in certain categories like gas or groceries, you might look for an everyday card that offers higher rewards for these purchase categories.

Should I Pay Off My Credit Card After Every Purchase?

There’s no need to pay off your credit card after every purchase, but you should pay your credit card in full by your statement due date each month. As long as you’re not carrying a balance month to month, you won’t pay interest on charges.

Is It Worth Keeping a Credit Card You Don’t Use?

Keeping a credit card you don’t use can help your credit score. Your credit score takes into account the length of your credit history, the amount of available credit and the proportion of credit you’re using. As long as you’re not paying an annual fee, there is little downside to keeping a credit card that you don’t use.

Is It Okay to Use Your Credit Card Every Day?

There are several benefits to using your credit card for your typical, everyday spending. It can help you build credit, and you can earn rewards if you use an everyday spending credit card that provides rewards opportunities. But make sure you only spend what you can afford to pay off and always make on-time payments to your credit card accounts. Doing this can allow you to avoid expensive debt, credit card interest fees and late payment fees. 

Newsweek writer Natasha Etzel contributed to this post.

The post 13 Best Credit Cards for Everyday Use of April 2024 first appeared on Newsweek Vault .

Better Together: How to combine Chase Freedom Flex℠ and Chase Sapphire Preferred® Card for maximum travel rewards

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If credit cards were food, the Chase Freedom Flex℠ and Chase Sapphire Preferred ® Card cards would definitely be peanut butter and jelly, respectively.

That’s because both cards start out perfectly solid on their own. Even if you never knew how to combine their powers, you’d be very happy using both on a daily basis. But once you discover how to make a PB & J sandwich, there’s no going back. You’ve discovered a treat that’s sweet, protein-rich and gives you an excellent excuse to eat Wonder Bread. 

It’s the same thing with the Sapphire and the Freedom Flex–combine them, and you’re in for a tasty treat that you wish you’d discovered sooner.

But what exactly is the “PB & J” of Chase rewards? Well, get your favorite white bread ready and let’s find out.

First, a little explanation of benefits…

Before I share the “recipe” to Chase’s PB & J, here’s a quick overview of both cards to provide some context.

Chase Freedom Flex℠

Intro bonus.

Rewards Rates

• 5% 5% cash back on activated bonus category purchases each quarter (up to $1,500 in purchases, then 1%)
• 5% 5% cash back on travel purchased through Chase Ultimate Rewards
• 3% 3% cash back on dining (including restaurants, takeout and eligible delivery services)
• 3% 3% cash back on drugstore purchases
• 1% 1% cash back on all other purchases
• 5% 5% cash back on Lyft rides (through March 2025)
• No annual fee
• Easy-to-earn welcome bonus
• Earns up to 5% cash back
• Foreign transaction fee
• Must active bonus categories every quarter
• 5% categories are capped
• Additional perks: Purchase protection, extended warranty protection, trip cancelation/interruption insurance, auto rental collision damage waiver, cell phone protection, complimentary Doordash and Instacart+ membership
• Foreign transaction fee: 3% of the amount of each transaction in U.S. dollars

Chase Freedom Flex – 5X rotating rewards

Here are the key highlights of Chase’s peanut butter, the Freedom Flex card. 

• 5% cash back on activated bonus category purchases each quarter (up to $1,500 in purchases, then 1%) , with the categories for Q2 2024 including Amazon.com, hotels and restaurants. 
• 0% intro balance transfer APR for 15 months (intro balance transfer fee: $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days) on both purchases and balance transfers. 
• $200 cash bonus after spending $500 on purchases within your first three months . 
• $0 annual fee

For more detail, check out our full review of the Chase Freedom Flex .

Chase Sapphire Preferred ® Card

• 5x 5x points on travel purchased through Chase Travel℠ (excluding hotel purchases that qualify for the $50 Annual Chase Travel Hotel Credit)
• 3x 3x points on dining at restaurants, including takeout and eligible delivery services
• 2x 2x points on travel purchases not booked through Chase
• 1x 1x points on other purchases
• 5x 5x points on Lyft rides through March 31, 2025 (that's 3x points in addition to the 2x points you already earn on travel)
• Valuable welcome bonus
• Extensive list of transfer partners
• Extra value on travel redemptions
• No premium travel perks
• Has an annual fee
• Additional perks: $50 annual hotel credit, trip cancelation/interruption insurance, auto rental collision damage waiver, complimentary Doordash and Instacart+ membership along with quarterly Instacart+ credits
• Foreign transaction fee: None

Chase Sapphire Preferred – a grab bag of travel perks 

In a similar vein, here’s a quick breakdown of Chase’s homemade grape jam, the ever-popular Sapphire Preferred card: 

• 2x points on travel purchases , plus 3x points on dining, 3x points on select streaming services and online grocery purchases (excluding Walmart, Target and wholesale clubs), 5x points on travel purchased through Chase Travel℠ and 1x points on other purchases. 
• 25% travel redemption bonus when you redeem your Chase Ultimate Rewards points through Chase Travel (e.g. redeem 10,000 points, get $125 in value). 
• 60,000-point welcome bonus after spending $4,000 within three months. 
• $50 annual statement credit good towards a hotel booked through Chase Travel. 
• $95 annual fee

To learn more, check out our full review of the Chase Sapphire Preferred . 

Circling back to our “recipe,” notice how Chase is quick to point out that your 60,000-point welcome bonus is worth $750 in travel redemption–all thanks to that handy 25% redemption bonus. And if you think about it, that means the points you earn with the card are worth 1.25X towards travel, too. 

So in reality, as long as you’re redeeming points through Chase Travel, your rewards chart really looks like this: 

• 5X > 6.25X on travel booked through Chase Travel
• 3X > 3.75X on dining/online groceries/streaming
• 2X > 2.5X on general travel
• 1X > 1.25X on everything else

Those are some mighty impressive earnings rates, lending even more value to the CSP as a travel companion. 

But here’s the crazy thing: that 25% bonus multiplier applies to every Chase Ultimate Rewards point you earn, regardless of which card you earn it with . 

Here’s how it all works. 

Here’s how your Chase Sapphire Preferred account lets you earn 6.25X with your Freedom Flex card

In our Chase Ultimate Rewards guide we outline all of the dozen-ish ways you can redeem your hard-earned Chase points. From trips to back massages to cash back, there’s hardly a bad option. 

But perhaps the most underrated option is the Combine points feature. 

Combine points allows you to move Chase Ultimate Rewards points from one Chase card to another–meaning you can earn points with one card–and spend them with another. Another that has, say a 25% points multiplier on points redeemed for travel…

As you can see, the option only applies to Chase rewards cards that generate Chase Ultimate Rewards points. So the Prime Visa and the IHG One Rewards Premier Credit Card cards, for example, won’t appear here–but your Freedom and Sapphire cards will. 

Unlike a bank transfer, combining Chase Ultimate Rewards points is free and instantaneous. Plus, you can always move the points back if you wish (although I’ve never found a reason to move points from a Sapphire card back to a Freedom card).

Then, as soon as you’ve combined all of your Chase Ultimate Rewards points into your Sapphire account, you can go spend them at Chase Travel where you’ll get an extra 25% in value: 

This trick also works with the Chase Sapphire Reserve card where you’ll get 50% extra value (provided you’re cool with the card’s $550 annual fee). 

Now, while I heartily recommend this trick to most travelers I meet–especially if they already have both cards–you should know that it still comes with three big caveats. 

PB & Js aren’t perfect, and neither is this trick

Though delicious, peanut butter and jelly sandwiches aren’t perfect. They’re high in fat, sugar and carbohydrates, and unlike the Chase Sapphire Preferred card, they don’t travel especially well. 

In a similar vein, here are the caveats to the “PB & J of Chase cards”: 

• The Chase Sapphire Preferred card charges a $95 annual fee and requires a 670+ FICO score to apply. 
• With the Chase Freedom Flex, you can only earn 5% cash back on activated bonus category purchases each quarter (up to $1,500 in purchases, then 1%) (generating 7,500 Chase Ultimate Rewards points worth $93.75). 
• Hotel rooms booked using points typically don’t generate any additional rewards or allow you to utilize your status benefits. 

But if you’re OK with these caveats, I hope you enjoy this simple recipe for tastier travel rewards.  And for more tips to help you get off the ground–quite literally–check out our Beginner’s guide to travel rewards .

Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.

EDITORIAL DISCLOSURE : The advice, opinions, or rankings contained in this article are solely those of the Fortune Recommends ™ editorial team. This content has not been reviewed or endorsed by any of our affiliate partners or other third parties.