Best Chase Credit Cards of 2020

Point of Interest: Chase Credit Cards

A Chase credit card used wisely can be a solid part of your overall financial plan and help you to experience advantages you might otherwise have to forego. Do your homework to determine first whether travel and dining perks or cash back is better suited to your lifestyle, preferences and typical expenditures. 

There are more than 25 types of Chase credit cards currently available. The breadth of choices Chase offers to customers is impressive and essentially guarantees that anyone can find a card that meets their needs. In addition to its remarkable abundance of options, Chase also stands out for its generous rewards programs, great bonus offers and low introductory APRs. 

Whether you need cash back on purchases, want to earn travel points or are looking for a means to reinvest in your business, Chase transforms everyday purchases into practical rewards.

Best Chase Credit Cards of 2020

  • Chase Sapphire Preferred® Card: Best overall travel rewards card
  • Chase Sapphire Reserve®: Best for premium travel rewards
  • Chase Freedom®: Best overall cash back card
  • Chase Freedom Unlimited®: Best for flexible cash back rewards
  • Ink Business Unlimited℠ Credit Card: Best for simple business rewards

Chase Sapphire Preferred® Card Best overall travel rewards card

  • APR: 17.49% to 24.49% variable
  • Annual Fee: $95
  • Primary Feature: Two points per dollar spent for worldwide travel and restaurant dining, plus 25% more when points are redeemed for travel through Chase Ultimate Rewards. One point per dollar on other purchases.
  • Introductory Bonus Offer: 60,000 bonus points after spending $4,000 in the initial three months, worth $750 toward travel when redeemed through Chase Ultimate Rewards.

Chase Sapphire Reserve®  Best for premium travel rewards

  • APR: 18.49% to 25.49% variable
  • Annual Fee: $550; additional authorized users are each $75 per year
  • Primary Feature: Three points per dollar spent on worldwide travel, restaurants, plus 50% more value when points are redeemed for travel through Chase Ultimate Rewards. One point per dollar on other purchases.
  • Introductory Bonus Offer: 50,000 bonus points after spending $4,000 in the initial three months, worth $750 toward travel when redeemed through Chase Ultimate Rewards. 

Chase Freedom® Best overall cash back card

  • APR: 0% intro APR for 15 months on both purchases and balance transfers, then a variable APR of 16.49% to 25.24%.
  • Annual Fee: $0
  • Primary Feature: 5% cash back in bonus categories that change each quarter, up to $1,500 in purchases with activation. 1% unlimited cash back on all other purchases.
  • Introductory Bonus Offer: $200 cash back after spending $500 on purchases in the initial three months. 

Chase Freedom Unlimited®  Best for flexible cash back rewards

  • APR: 0% Intro APR for 15 months on both purchases and balance transfers, then a variable APR of 16.49% to 25.24%.
  • Annual Fee: $0
  • Primary Feature: 1.5% cash back on all purchases.
  • Introductory Bonus Offer: $200 cash back after spending $500 on purchases in the initial three months.

Ink Business Unlimited℠ Credit Card Best for simple business rewards

  • APR: 0% Intro APR for 12 months on purchases, then a variable APR of 14.74% to 20.74%.
  • Annual Fee: $0; No additional cost for employee cards.
  • Primary Feature: 1.5% cash back on all purchases for your business.
  • Introductory Bonus Offer: $500 cash back after spending $3,000 on purchases in the initial three months.

Compare Best Chase Credit Cards of 2020

Card0% Intro Purchase APRRegular APRAnnual Fee
Chase Sapphire Preferred® Card N/A17.49-24.49% variable$95
Chase Sapphire Reserve® N/A18.49-25.49% variable$550; additional authorized users $75 each per year
Chase Freedom® 15 months16.49-25.24% variable$0
Chase Freedom Unlimited® 15 months16.49-25.24% variable$0
Ink Business Unlimited℠ Credit Card 12 months14.74-20.74% variable$0

More about Chase credit cards

The financial services of Chase play a role in nearly half of all American households, so it’s clear that many people place confidence in Chase’s reliability and reputation. Its credit cards fit attractively into a variety of needs and financial goals. Chase states that it has a goal of “helping you to make the most of your money.” Your budget or your business could benefit from a steady return of cash rewards or substantial savings on travel expenses.

What are the benefits of having a Chase credit card?

The main advantage of having a Chase credit card is the ability to choose a card that satisfies your needs and desires, not a one-size-fits-all. In most cases, the generous cash back rewards that Chase offers to card users are a perk anyone could use, no matter whether it’s to funnel money back into a personal budget or to bolster business funds. 

But if travel is your primary incentive, Chase rewards points add up quickly to obtain airline tickets, hotel stays and fine dining at generous discounts. Often, there are additional member-only perks will make travel even more enjoyable and secure, such as additional coverage on travel, extended coverage on purchases, travel insurance and trip interruption insurance, emergency assistance when out of the country, complimentary luxury airport lounges and no transaction fees on purchases made internationally.

Which Chase credit card is the best one for me?

Choosing the Chase credit card that’s best for you will depend on a variety of factors. First and foremost, you should determine which main option is more beneficial or appealing to you — earning back a percentage of cash for each purchase you make or the opportunity to redeem points you’ve earned in exchange for airfare, car rentals, cruises and hotels.

Carefully compare all the perks that benefit a new Chase card owner during the intro period, since benefits will vary. Choose a card that matches your resources and financial ability to attain the introductory bonus offer. That will earn you the greatest rewards.

But don’t rush into a decision based only on the introductory offer. Obviously, the best plan is to pay off the balance of your purchases in full each month no matter which card you use. You need to be realistic about how much credit you would typically use in the months during the intro period and plan ahead to be sure you can pay off the balance each month. In many cases, a large introductory cash offer or equivalent travel points could more than compensate for any annual fee that’s required.

There’s an additional factor that might play a significant role in deciding which Chase credit card to choose. That’s the scenario where you know that a largish, one-time expense is looming. A 0% APR introductory rate for 12 or more months on a credit card is a great financial tool in this situation. Chase cards with an extended introductory 0% APR conveniently spread out your payments and help you avoid the stress of racking up high interest. That additional breathing room in your budget might be just you need to give you peace of mind. 

Do you need a good credit score to get a Chase card?

If your credit is less than optimal, you are probably not going to qualify for some of the cards Chase offers, but you’ll likely still have some options. Chase does a good job of providing consumers with enough information to thoroughly understand how credit scores impact what you’ll pay and why it’s vital to build and maintain a solid credit history.  

Tim Ferriter, the managing director and head of card acquisitions at Chase, shares that “on many of our cards, we offer different tiers of interest rates, ranging by 7-8 percent from the lowest rate to the highest rate. A better credit score will qualify you for a lower rate.” The highest rates he refers to can be a percentage well up in the upper 20s, which will dramatically increase your interest expense.

High credit scores earn you much better APR rates on a credit card (as well as other transactions like mortgages.) There’s almost always a strong correlation between your creditworthiness and the interest rate you will qualify for.

Can you get a cash advance with a Chase credit card?

Many credit cards offer the option to obtain a cash advance when you need cash funds rather than credit. Chase is no exception, and most of its credit cards offer this feature. You need to understand that a cash advance is really a cash loan, so you’ll begin to pay for the privilege from the moment you withdraw the funds. Additional fees are frequently tacked onto a cash advance, too. The APR for cash advances is considerably steep, so this option shouldn’t be used frivolously.

Sometimes when traveling in another country, you have to have the ability to access some cash at the point of purchase. And there’s no need to fret about security, as the introduction of chip technology in Chase and other credit cards has helped greatly in reducing fraud worldwide. Most likely you will need to request a pin from Chase in advance in order to use your card to withdraw a cash advance.

Does Chase offer a grace period for payments?

Before deciding on a Chase credit card, you can educate yourself a bit more by going to Chase’s page of Frequently Asked Questions. The glossary you can access from that page has lots of helpful information, including what you need to know about the interest-free period, also known as a “grace period.” 

That’s the period of time during which you are able to pay off the balance in full without incurring any additional interest charges. The grace period is at least 25 days. and that time period always begins when the monthly statement is first generated. The grace period ends on the due date (which you can find on your monthly statement). Remember that balance transfers and cash advances often do not have an interest free period, even during the introductory period, and additional fees may be imposed on those transactions.

As mentioned in some of the Chase cards above, there are some Chase credit cards that offer a promotional or introductory balance transfer rate along with the interest-free period for purchases, but it will always be for a specific timeframe.

The final word

Spend enough time to look into all the Chase credit card perks closely before making a final decision. Besides the most obvious rewards and bonuses, these cards frequently provide a number of non-financial benefits that may not be apparent at first glance yet could make your life or travel adventures more comfortable. Since Chase is a well-respected institution with many satisfied customers, you can anticipate that your experience with Chase will probably be the same.

Stephen Altrogge

Personal Finance Contributor

Stephen Altrogge is a business and marketing writer from Ashland, Ohio. His writing has been published in Fast Company, Zapier, Entrepreneur, Forbes, and a host of other publications. He has a degree in Management Information Systems from Indiana University of Pennsylvania. Before launching his own business, he worked as an auditor at a bank.