Best Visa credit cards for December 2022

Compare Bankrate’s top Visa credit cards of December 2022

A closer look at the best Visa credit cards

Chase Sapphire Preferred: Best for sign-up bonus

• What we love about the Chase Sapphire Preferred: Its rewards rates make it a great fit for travelers and foodies alike. Plus, your points are worth 25 percent more when redeemed for travel through the Chase Ultimate Rewards portal.
• Who is this card good for: People new to the world of travel credit cards. Cardholders will earn flexible travel points that are easy to earn if you dine out and travel and are simple to redeem.
• Alternatives: If you’re a traveler looking to earn rewards in more categories, the Citi Premier® Card is another mid-level travel card that is a decent choice for travelers. The Sapphire Preferred has a slightly lower APR and earns rewards at a higher rate than the Citi Premier. Still, Citi Premier cardholders will earn 3X points at gas stations and restaurants, as well as air travel purchases.

Read our full Chase Sapphire Preferred review.
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Chase Sapphire Reserve: Best for luxury travel perks

• What we love about the Chase Sapphire Reserve: Although this card has a high annual fee, it comes with perks like complimentary lounge access and annual travel credits that can easily offset its cost.
• Who is this card good for: Travelers who want best-in-class luxury travel perks. Traveling can be a much more pleasurable experience with this card. With statement credits for TSA PreCheck or Global Entry applications and access to luxury lounges all over the world
• Alternatives: The Capital One Venture X Rewards Credit Card is a good alternative if the Sapphire Reserve’s annual fee gives you pause. The Capital One Venture X Rewards card has an annual fee of just $395, whereas the Sapphire Reserve’s annual fee sits at $550. The cards carry many of the same luxury perks, but earning rewards with the Venture X Rewards card is a bit more difficult.

Read our full Chase Sapphire Reserve review.
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Chase Freedom Unlimited: Best for drugstore purchases

• What we love about the Chase Freedom Unlimited: This card not only earns cash back at a solid rate on travel, restaurant and drugstore purchases, but also offers a boosted flat rate on all other purchases — a rare combination. That makes it especially valuable and flexible as a standalone rewards card.
• Who this card is good for: Travelers who dine out often or shop frequently at drugstores and are looking for a flexible, low-cost rewards card that lets you redeem for both travel and cash back without sacrificing point value.
• Alternatives: The Blue Cash Preferred® Card from American Express is a great option if you need a card that earns rewards on groceries. The card earns 6 percent cash back at U.S. supermarkets (on up to $6,000 per year, then 1 percent after that) — easily the highest cash back rate available in that category. And while it charges a $95 annual fee ($0 intro annual fee for the first year), this cost should be easy to offset via everyday spending.

Read our full Chase Freedom Unlimited review.
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Upgrade Cash Rewards Visa®: Best for low-cost and low-interest spending

• What we love about the Upgrade Visa Card with Cash Rewards: This card is a helpful tool for people still learning to manage their credit effectively. Cardholders have a good chance at a lower APR, which makes carrying a balance less expensive.
• This card is good for: Credit builders. People with average credit working toward good or excellent credit can benefit from this unique blend of a credit card and personal loan. Your balance becomes an installment plan with fixed, monthly payments at the end of each billing cycle. With its potentially low minimum APR (14.99 percent to 29.99 percent), there’s a chance you’ll pay minimal interest on your balance.
• Alternatives: If you’re looking for a card with a potentially lower APR, consider the Petal® 2 “Cash Back, No Fees” Visa®. The lower end of the Petal 2’s APR (15.99 percent to 29.99 percent variable) is slightly higher than the Upgrade Visa’s (14.99 percent to 29.99 percent regular). However, you may secure a lower APR with the Petal 2 because of its more lenient credit score requirements.

Read our full Upgrade Visa Card with Cash Rewards review.
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Credit One Bank Platinum X5 Visa: Best for high rewards in select categories

• What we love about the Credit One Bank Platinum X5 Visa: This is one of the few cards for people with average credit that earns rewards at such a high rate.
• This card is good for: People who use their card for everyday purchases. Cardholders will get 5 percent cash back on everyday purchases like gas, groceries and cable on up to $5,000 in purchases each year (then 1 percent thereafter).
• Alternatives: If you want to earn rewards, but are hesitant to shell out $95 for an annual fee, the Capital One QuicksilverOne Cash Rewards Credit Card is a solid alternative. The rewards aren’t quite as lucrative, but cardholders will still earn a respectable 1.5 percent cash back on all their purchases.

Read our full Credit One Bank Platinum X5 Visa review.
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Capital One Venture Rewards Credit Card: Best for flat-rate travel rewards

• What we love about the Capital One Venture Rewards Credit Card: It earns a flat-rate, unlimited 2X miles on everyday purchases in addition to its 5X miles on hotels and rental cars booked through the issuer’s travel portal.
• This card is good for: Mid-level travelers who want higher rewards rates than basic travel cards but don’t want to shell out hundreds of dollars for an annual fee.
• Alternatives: If you want to stick with a Capital One card and earn similarly lucrative rewards—without shelling out the $95 annual fee—consider the Capital One VentureOne Rewards Credit Card.

Read our full Capital One Venture Rewards Credit Card review.
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U.S. Bank Cash+® Visa Signature® Card: Best for sign-up bonus

• What we love about the U.S. Bank Cash+ Visa Signature Card: The customizable rewards structure gives cardholders the opportunity to maximize their cash back earnings. Cardholders can earn 5 percent cash back in two categories of their choice every quarter (on up to $2,000 combined per quarter, then 1 percent) and 2 percent cash back in the third everyday category of their choosing.
• Who is this card good for: Serious budgeters who want to earn the maximum rewards for their spending. If you have the time to track your spending diligently, this card can be lucrative.
• Alternatives: The Citi® Double Cash Card provides a solid alternative if you prefer to earn rewards the simple way. Citi Double Cash cardholders get 2 percent cash back on every purchase (1 percent when you buy and 1 percent when you pay). The Double Cash Card’s sign-up bonus spending requirement is higher than you’ll find on many no-annual-fee cash back cards. That said, you’ll get a longer intro APR period on balance transfers with the Double Cash (get 0 percent interest APR on balance transfers for 18 months. After that, APR will be 17.74 percent to 27.74 percent variable) .

Read our full U.S. Bank Cash+ Visa Signature Card review.
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Bank of America® Travel Rewards credit card: Best for diverse travel reward categories

• What we love about the Bank of America® Travel Rewards Credit Card: The broad definition of travel purchases means that cardholders can earn travel rewards at amusement parks, zoos and campgrounds—among other places.
• This card is best for: Travelers who want to earn rewards for their adventures closer to home. This card is great for Bank of America customers who want to earn travel rewards with road trips and attractions, not just getaway trips overseas.
• Alternatives: The Discover it® Miles card is a solid alternative to the Bank of America Travel Rewards Credit Card. Especially for travelers who may carry a balance month to month as the APR is slightly lower (15.74 percent to 26.74 percent variable) than the Bank of America Travel Rewards Credit Card’s APR (17.74 percent – 27.74 percent variable APR)

Read our full Bank of America Travel Rewards credit card review.
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What is Visa?

Visa is a payment network utilized by many credit card issuers and banks. Payment networks are needed to facilitate an electronic transaction of funds between buyers and sellers, and they generally charge a small fee for each transaction.

While Visa technically acts as the facilitator for all payments made with a Visa credit card, it is not a credit card issuer or bank. It simply provides the payment network technology that credit card issuers and banks use for all cards.

Visa is at the top of the payment processing industry as the largest of the four major U.S. credit card networks. If you have a debit, credit or prepaid card in your wallet, there’s a good chance that the card is partnered with Visa.

With over 1 billion credit cards in circulation worldwide (an estimated 798 million outside the U.S.), Visa’s international presence is undeniable. Their cards are accepted in over 200 countries and can be used with over 10 million merchants in the United States. In 2020, Visa’s worldwide credit payments totaled nearly $2 trillion, according to Creditcards.com Market Share Statistics.

Pros and cons of Visa credit cards

Why choose a Visa card?

Visa is one of the most widely accepted payment networks in the world. If you have a Visa credit card in your wallet, you can rest easy knowing that your card could be accepted by retailers all over the globe. Other payment networks can operate a bit differently. For example, Discover and American Express both process transactions and issue their own cards.

Mastercard is Visa’s major competitor. In fact, Visa and Mastercard dominate the payment processing industry in the U.S. According to the Nilson Report, both companies have had continued high-volume success, with Visa accounting for $1.94 trillion in credit card purchases in 2020 and Mastercard reaching $837 billion.

How to choose the best Visa credit card for you

Choosing a Visa credit card is the same as choosing the best card for you from any credit card network. You should find the one that suits your overall financial situation best. Visa has partnered with several issuers to offer a vast selection of credit cards, so you’re sure to find one that meets your needs no matter what your spending habits are.

Who should get a Visa card?

The key to picking a credit card is finding one that aligns with your financial needs and spending habits. Visa is a large network and partners with credit card issuers on many different types of cards, including rewards cards, credit-building cards, balance transfer cards and more.

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  Business Owners

  There are plenty of credit card options for business owners in Visa’s network, many of which charge no annual fee and offer rewards on common business purchases. The Ink Business Unlimited® Credit Card is one option that offers a solid welcome bonus ($750 cash back if you spend $7,500 within the first three months of account opening) and rewards everyday spending (1.5 percent cash back on all purchases).

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  Travelers

  Frequent travelers will have no difficulty finding a Visa card that fits into their rewards strategy and rewards purchases in everyday categories like dining and grocery shopping. The Chase Sapphire Preferred card is a great choice if you can afford the $95 annual fee or feel confident you’ll offset it with the rewards you’ll earn in the card’s boosted categories. But if you want to avoid annual fees, a great alternative is the Bank of America® Travel Rewards credit card which earns an unlimited 1.5X points per dollar on all purchases with no annual fee.

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  Students and credit-builders

  Students and those who are new to credit or building credit are likely to benefit from at least one Visa credit card. A great option is the Petal 2 “Cash Back, No Fees” Visa Credit Card which earns 1 percent back on all purchases but incentivizes on-time payments by offering 1.5 percent back after you make 12 months of on-time payments. This can promote financial responsibility and ease cardholders into positive credit habits that can help them build credit.

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  Everyday shoppers

  Visa’s network includes several cards that are great for earning rewards on groceries, dining, gas, travel and other everyday spending categories. These categories make up the majority of the average person’s spending each year and high rewards rates in these categories can help you make the most of your Visa credit card.The Bank of America® Customized Cash Rewards Credit card is a great choice if you’re looking for an easy way to earn rewards in multiple everyday categories. Cardholders can choose an eligible category that will earn 3 percent back (includes dining and gas stations) while also earning 2 percent back on grocery and wholesale club purchases automatically without category enrollment. Although both the card’s 3 percent and 2 percent rewards rates are capped at a combined $2,500 in quarterly spending, it could be a great Visa card for moderate spenders

Choosing the best Visa credit card means deciding what you want from a card in general. Of the many cards in the Visa network, one should fit your needs.

Still unsure if a Visa credit card is right for you? Check out our Credit Card Spender Type Tool where you can get personalized credit card recommendations based on your credit score, spending habits and daily needs.

What are Visa’s benefit tiers?

All Visa cards fall under one of three benefit tiers: Traditional, Signature and Infinite. Each card tier differs in the level of protections and benefits offered, but the exact benefits that come with your card will be determined by your card issuer.

Visa Traditional

Visa Traditional is the base level benefits tier. If your Visa card simply says Visa then you likely have Visa Traditional benefits and are covered for:

• Emergency card replacement
• Emergency cash dispersal
• Lost or stolen card reporting
• Zero liability protection
• Auto rental collision damage waiver
• Roadside dispatch

Visa Signature

Visa Signature is the mid-level benefit tier. It includes cards like the Chase Sapphire Preferred Card and offers fewer benefits than the Visa Infinite tier, but more than the Traditional tier. Visa Signature includes everything covered in Traditional plus:

• Warranty Manager Service
• Year-end budget summary
• Travel and emergency assistance services

Visa Infinite

Visa Infinite cards, like the Chase Sapphire Reserve, provide cardholders with the highest level of protections and perks. Visa Infinite covers everything covered by Visa Signature plus:

• Trip cancellation coverage
• Return Protection
• Travel emergency and accident coverage
• Lost luggage reimbursement

It’s worth checking the terms and conditions of your Visa card to see what you’re covered for. While Visa designates benefit tiers and includes a list of perks available in each tier, not every card issuer offers those benefits. For instance, you may carry a Visa Signature card, but whether that card comes with all Visa Signature benefits will be at the discretion of your card issuer —not Visa.

Visa vs. Mastercard: what’s the difference?

Visa and Mastercard are two of the four major credit card processing transaction networks. Unlike the other two processing networks, Discover and American Express, Visa and Mastercard don’t issue credit cards. Instead they both partner with financial institutions like banks that do issue credit cards and debit cards.

However, there aren’t many overt differences between Visa and Mastercard. Most of the differences between any given Visa and Mastercard credit card will be based on which financial institution issues the card.

In the news: Visa rolls out a hike in merchant fees

According to a report released by the Wallstreet Journal , Visa plans to increase its merchant fees. The fee increase—initially set to take place in 2020 but stalled by the pandemic—comes soon after the Federal Reserve’s recent rate hike. The increases are expected to impact most online and in-person purchases made with Visa cards. The most significant increases will be seen in purchases made with premium travel cards and at grocery stores.

These fee hikes are technically directed at merchants—and they will likely push back on the fees. The Merchant Payment Coalition is currently lobbying Congress to put a stop to the fee increase. If merchants don’t see a reduction in fees, consumers are likely to see more surcharging while they shop.

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