Why the Notion of a ‘Best’ Credit Card is a Myth

Editor's Note: This post is periodically refreshed with the latest information.

A frequent inquiry we receive at TPG is, "What’s the best credit card?"

If you’re here looking for an answer, we can clarify: there isn’t a single card that stands out as the "best." Allow us to explain.

The silver lining is that this alleviates the pressure of finding the ultimate credit card among countless choices. Additionally, it allows you to create a tailored experience by selecting a card that matches your unique needs and spending patterns.

On the downside, if you were looking for a simple solution to find the ultimate best credit card, we can’t give you a clear-cut answer because, frankly, a single 'best' card doesn’t truly exist.

When searching for the ideal credit card tailored to your needs, consider your financial goals, priorities, and budget. Therefore, we suggest exploring cards with different annual fees, earning structures, and benefits.

The cards featured here are excellent due to the various perks and opportunities to earn cash back, miles, and other rewards they provide, but there isn’t a one-size-fits-all card that serves as the perfect choice for everyone. Here’s how to determine which card suits you best.

Tailoring Cards to Fit Your Unique Habits

It's easy to fall into the trap of thinking that only a few cards—usually the high-annual-fee options like the The Platinum Card® from American Express (check rates and fees) or the Chase Sapphire Reserve®)—are superior to their lower-fee alternatives such as the Capital One Venture Rewards Credit Card (see rates and fees) or the Citi Double Cash® Card (refer to rates and fees). However, this isn't necessarily true.

In the end, the "best credit card" for you is determined by your individual habits, priorities, and needs.

For instance, a frequent flyer might appreciate their Amex Platinum for its exceptional lounge access and other travel perks, including elite status with Hilton and Marriott (enrollment is necessary).

However, that same traveler might often choose the Blue Cash Preferred® from American Express to save on grocery bills (at U.S. supermarkets) and earn cash back on certain streaming services. Cash back is offered in the form of Reward Dollars, which can be redeemed as a statement credit or at Amazon.com during checkout.

Even among those who share similar interests and habits, opinions can differ on which card reigns supreme. One frequent flyer might advocate for the Capital One Venture X Rewards Credit Card due to its lounge access and consistent earning rate, while another may argue in favor of the Chase Sapphire Preferred® Card because of its desirable transfer partners and significantly lower annual fee.

Seek the 'right' card, not the 'best' card

Rather than searching for the ultimate credit card, aim to find the right one for your needs. Begin by considering some straightforward questions:

What is your credit score?

This foundational question is essential as it will indicate which cards you're most likely to qualify for. If your goal is to improve your credit, you'll want to consider a card that is ideal for beginners.

However, if you have a solid credit history and an excellent credit score, you're more likely to qualify for some of the top rewards cards available.

What are your spending patterns?

Your spending patterns will guide you in identifying the bonus categories that matter most for your credit cards.

Do you frequently spend on groceries and dining out? If so, a card like the American Express® Gold Card might suit you well, as it offers 4 points per dollar on dining at restaurants for the first $50,000 spent each year (then 1 point per dollar thereafter) and 4 points on the first $25,000 spent annually at U.S. supermarkets (then 1 point per dollar thereafter).

If your spending primarily goes toward items that don't typically earn bonuses, consider a card with a strong flat earning rate, such as the Capital One Venture Rewards Card or Chase Freedom Unlimited®.

What do you want to achieve with your credit card?

Are you aiming to earn rewards like complimentary flights, seat upgrades, or hotel accommodations? If so, starting with a card that offers transferable points is a smart choice. Alternatively, if you prefer a particular hotel brand, a cobranded card can provide benefits like elite status and free nights that you'll truly value.

Or perhaps you're looking to save on everyday expenses. If that’s the case, there are numerous cash-back credit cards available to help you achieve that goal.

After addressing these foundational questions, you can explore which rewards program aligns best with your travel objectives, how much you’re willing to spend on annual fees, the sign-up bonuses you aim to earn, and more.

In conclusion

There isn’t a singular "best" credit card for everyone. To find the card that suits you best, take into account your credit score, financial priorities, goals, and the types of perks you value in a credit card.