Photo Illustration by The Daily Beast/Reuters/GoFundMe

An arrest warrant revealed Tuesday that Maine mass shooter Robert Card began unraveling in February after he was dumped by his ex-girlfriend—a woman he met at the same bar he opened fire in last week.

Card met the unnamed woman at Schemengees Bar & Grille during a cornhole tournament there, a warrant revealed, giving new insight into why Card may have targeted the bar.

A witness told police that Card would take his ex to eat at the bar along with her two daughters, the warrant said. During those meals, the witness said Card thought people were looking at him and that the bar’s manager, Joey Walker, had “called him gay.”

Read more at The Daily Beast.

Joe Raedle/Getty Images

Donald Trump can smell defeet.. Ron DeSantis’, to be precise.

The question of whether the Florida governor stands less than 5 feet 10 inches tall has been the subject of online speculation for months, based largely on the observable fact that his chosen footwear along the campaign trail—black cowboy boots—look very, very odd. Almost like he could be wearing height-boosting insoles to make himself appear taller (and thereby more presidential).

The deeply reported-upon conspiracy theory reached a fever pitch this week, when podcast host Patrick Bet-David raised the issue directly to DeSantis’ face. The governor declared, too quickly, perhaps, that he was 5-foot-11 and that his boots were “just standard, off-the-rack Lucchese.” Then Politico went and asked three experts about it. The shoemakers agreed that yes, DeSantis was fudging his stature to give himself about 1.5 inches of extra height.

Read more at The Daily Beast.

Our experts answer readers’ credit card questions and write unbiased product reviews (here’s how we assess credit cards). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

The information for the following product(s) has been collected independently by Business Insider: Bank of America® Travel Rewards Credit Card for Students, Chase Freedom Flex℠, U.S. Bank Altitude® Connect Visa Signature® Card. The details for these products have not been reviewed or provided by the issuer.

Whether you’re just dipping your toe into the world of rewards credit cards or you’ve already flown thousands of miles on points alone, we can tell you: There’s a travel credit card for everyone. There’s a card if you’re looking for free flights, if you’re hoping for free hotel stays, or if you’re just doing whatever it takes to realize your dream of an overwater bungalow. There are even no-annual-fee travel credit cards that won’t cost you anything to keep.

Best Travel Credit Cards

Chase Sapphire Preferred® Card: Best overall travel credit cardCapital One VentureOne Rewards Credit Card: Best no-annual-fee card for earning travel milesCapital One Venture Rewards Credit Card: Best travel credit card for beginnersCiti Premier® Card: Best for travel rewards on everyday spendingBank of America® Travel Rewards Credit Card for Students : Best travel card for studentsCapital One Venture X Rewards Credit Card: Best premium travel credit cardAmerican Express® Gold Card: Best for earning travel credit on dining and groceriesChase Sapphire Reserve®: Best premium card for travel bonus categoriesThe Platinum Card® from American Express: Best for luxury travel benefits and airport lounge access

Airline cards and hotel co-branded credit cards can make sense if you travel frequently and are loyal to a particular brand. However, if your main goal is to maximize your rewards earning and have lots of flexibility in using your points, the best credit cards are usually ones that earn transferable points.

Best Travel Credit Cards Comparison

Travel Credit Card Frequently Asked Questions

What is the best travel credit card?

The best travel credit card overall is the Chase Sapphire Preferred® Card, but the best card for your particular situation will depend on what benefits you care about the most, as well as how you feel about paying a high annual fee. 

We’d recommend opening a travel card that earns Amex or Chase points, because these are among the easiest rewards to redeem and you have various travel partners to utilize. But if you’ve investigated your options and are confident that you can get value out of their rewards, credit cards that earn Capital One miles or Citi ThankYou points can make sense as well.

What are the different types of travel credit cards?

There are two main types of travel credit cards: Cards that earn transferable points, and airline/hotel co-branded credit cards. Transferable points currencies include Amex Membership Rewards points, Capital One miles, and Chase Ultimate Rewards points. Airline credit cards and hotel credit cards earn points or miles within a respective hotel or airline program; you don’t have the option to redeem your rewards with a wide variety of travel partners (or if you do, the transfer ratio usually isn’t great).

How do I pick a travel credit card?

To pick the right travel credit card for you, you’ll want to evaluate its welcome bonus offer, ease of use, benefits, and annual fee. The best one for you will ideally have a combination of an attractive sign-up bonus, lots of options for earning and redeeming rewards, benefits that save you money, and a low or no annual fee.

Are credit card annual fees worth it?

Travel credit cards with annual fees are worth it if you’re able to get significant value out of their benefits and rewards. Before you apply for a card, make sure you’ll actually use all the features that contribute to the card’s annual fee. For example, if a card offers an annual statement credit of up to $200 toward travel but you can’t use it, you’re probably not getting what you pay for.

How do travel credit cards work?

Travel credit cards work by earning you points (or miles) on every purchase you make, with the goal of helping you earn enough rewards to book free travel. The best travel cards earn points that you can transfer to various airline and hotel partners — like Amex, Chase, or Citi points. 

How do I get a free flight?

A great way to work toward getting a free flight is by applying for a travel credit card and earning its welcome bonus offer. Domestic award flights in economy class typically require about 25,000 points, so depending on the welcome bonus offer, you could have enough rewards for a flight right out of the gate. 

Travel Credit Card Reviews

The best credit cards offer valuable rewards, easy-to-use benefits, and helpful features like travel coverage. Make sure you can redeem rewards for the travel you want to book before you decide on a travel credit card.

Chase Sapphire Preferred

The Chase Sapphire Reserve® card was previously our pick for the best travel card overall, but it’s since increased its annual fee from $450 to Chase Sapphire Reserve®. While it did add some new perks, it’s become harder to recommend the Reserve to more casual travelers. We now recommend the Chase Sapphire Preferred® Card as the best travel credit card for most people. 

Chase Ultimate Rewards® points are some of the easiest rewards to use — and not just for travel. You can redeem them for travel directly through the Chase Ultimate Rewards Travel Portal and get more than 1 cent per point (you get 1.25 cents with the Preferred and 1.5 cents with the Reserve), and Chase’s selection of transfer partners, including United, Hyatt, Marriott, and more, is great for US-based travelers. Cardholders can also use points for statement credits, gift cards, merchandise, and more. 

The Chase Sapphire Preferred® Card has a $95 annual fee, and it earns 5 points on travel purchased through Chase Ultimate Rewards, 2 points on all other travel purchases, and 3 points on dining, online grocery purchases (excluding Target, Walmart, and wholesale clubs), and select streaming services. It earns 1 point per dollar on everything else.

The Sapphire Preferred is currently offering Chase Sapphire Preferred® Card – Intro Bonus. Insider pegs Chase points value at 1.8 cents each, on average, making this bonus worth around Chase Sapphire Preferred® Card – Featured Reward Value in travel.

The card stands out for its travel protections. You’ll enjoy insurance if your flight is delayed, if your baggage is delayed or lost, primary rental car insurance, and more if you book eligible travel and meet the benefit requirements. 

In addition, the card offers a 10% anniversary points bonus and up to $50 in annual statement credits for hotel purchases made through the Chase Travel Portal. 

What the experts love: High welcome bonus offer, earns bonus points on travel, dining, and online grocery purchases, you can redeem points for 1.25 cents apiece for travel or through Chase (a 25% bonus)

What the experts don’t love: Doesn’t offer some of the travel perks you’ll get with competing cards, such as airport lounge access and a statement credit for Global Entry

Read our review: Chase Sapphire Preferred card review

Capital One VentureOne

The Capital One VentureOne Rewards Credit Card is our top choice for a no-annual-fee travel card, and it’s got many of the same perks as its bigger sibling, the Capital One Venture Rewards Credit Card.

New cardholders can earn a respectable Capital One VentureOne Rewards Credit Card (worth at least Capital One VentureOne Rewards Credit Card in travel according to Insider’s valuations). While the card only earns 1.25 miles per dollar on most purchases (plus 5x on hotels and car rentals booked through Capital One Travel), it’s still a compelling choice if an annual fee isn’t for you.

You’ll get the same access to Capital One’s airline and hotel partners as you would with annual-fee cards, and a handful of benefits including car rental insurance***, travel accident insurance***, and extended warranty***. This is also a solid pick if you’re looking for a zero-interest credit card with a 0% introductory APR offer, because new cardholders receive a Capital One VentureOne Rewards Credit Card, then a Capital One VentureOne Rewards Credit Card APR (Capital One VentureOne Rewards Credit Card – Rates and Fees – Editorial Name Only).

What the experts love: No annual fee, access to transfer partners, generous intro 0% APR offer

What the experts don’t love: Few travel benefits, lower earning rate

Read our review: Capital One VentureOne Rewards card review

Capital One Venture Card

The Capital One Venture Rewards Credit Card is a great “set it and forget it” card, in the sense that you don’t have to worry about various bonus categories for earning rewards. You’ll earn 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 2x miles on all other purchases.

Capital One will launch the new Lifestyle Collection hotel booking program later this year. Venture and Spark Miles cardholders will have access to a curated list of hotels worldwide and receive benefits that include a $50 hotel experience credit, room upgrades when available, and early check-in/late checkout when available.

This card also offers one of the most straightforward ways to redeem rewards for travel: you’re able to use your miles to cover recent travel purchases from your card statement, at a rate of 1 cent per mile. 

You also have the option to transfer Capital One miles*** to more than a dozen frequent flyer and hotel loyalty programs, including Air Canada Aeroplan, Etihad Guest, and Singapore Airlines KrisFlyer. Capital One also added new partners including British Airways and Turkish Airlines, and improved the transfer ratio to 1:1 for most partners. 

The selection of transfer partners is best suited to someone who wants to travel internationally and who doesn’t mind spending some time researching the best ways to redeem miles with the different frequent flyer program options. But the upside is that you can always use your miles to cover your travel purchases. You also get up to a $100 Global Entry/TSA PreCheck application fee credit.

What the experts love: The ability to use your miles to cover your recent travel expenses; it earns at least 2 miles per dollar on every purchase.

What the experts don’t love: “If you redeem miles for cash back, their value drops in half,” points out Rathner. Benét Wilson, senior editor at The Points Guy, also notes that other cards offer higher rewards on purchases such as travel and dining.  

Read our review: Capital One Venture card review

Citi Premier Card

The Citi Premier® Card isn’t as flashy or well-known as some other travel cards, but that doesn’t mean you should overlook it — especially if you spend a lot on its bonus categories. Cardholders earn an impressive 3x points on air travel, gas stations, restaurants, supermarkets, and hotels, and 1 point per dollar on everything else.

Along with a solid welcome bonus offer of Citi Premier® Card (worth Citi Premier® Card based on Insider’s valuations), you’ll receive $100 off a single hotel stay of $500 or more (excluding taxes and fees) booked through thankyou.com once per calendar year.

While it isn’t the best for travel protections, the Citi Premier® Card is the only card currently available to new applicants that unlocks the ability to transfer your ThankYou points to Citi’s full list of airline and hotel partners, including JetBlue, Singapore Airlines, and Wyndham.

What the experts love: Strong rewards earning in useful everyday categories, access to Citi’s transfer partners

What the experts don’t love: Lack of travel protections like car rental insurance, few travel perks compared to similar rewards cards

Read our review: Citi Premier card review

Bank of America Travel Rewards Credit Card for Students

The Bank of America® Travel Rewards Credit Card for Students is a fairly unique offering, as there aren’t many student credit cards specifically geared toward travel. New cardholders can earn Bank of America® Travel Rewards Credit Card for Students. That’s a decent offer for a no-annual-fee card, and the earning structure is simple, too — 1.5x points per dollar on every purchase, with no bonus categories to keep track of.

There’s also a Bank of America® Travel Rewards Credit Card for Students (then a Bank of America® Travel Rewards Credit Card for Students APR) which can be handy if you have big purchases (like textbooks or supplies) you want to pay for over time. 

The Bank of America® Travel Rewards Credit Card for Students is a good choice if you prefer a straightforward card without having to worry about award charts or transfer partners. It’s also a safe bet if you want to use it while traveling internationally — it doesn’t charge pesky foreign transaction fees, so you won’t be on the hook for extra charges if you use it overseas.

However, you won’t find many extras — like travel benefits or purchase protections — with this card. If you’re looking for better benefits, be sure to check out our guide to the best student credit cards for all the top options.

What the experts love: Impressive welcome bonus offer for a student credit card, good flat-rate rewards earning

What the experts don’t love: No flashy extra perks or shopping benefits

Read our review: Bank of America Travel Rewards Credit Card for Students review

Capital One Venture X

The Capital One Venture X Rewards Credit Card was unveiled over a year ago. It offers a massive welcome bonus of Capital One Venture X Rewards Credit Card — worth at least Capital One Venture X Rewards Credit Card in travel, based on Insider’s valuation of Capital One miles.

The Capital One Venture X Rewards Credit Card is loaded with premium benefits that can more than offset the Capital One Venture X Rewards Credit Card annual fee — which is lower than other premium travel cards (see rates and fees).

Cardholders receive $300 per year in credits toward travel booked through Capital One, Priority Pass, Plaza Premium, and Capital One airport lounge access (even for authorized users), a 10,000-mile bonus on each account anniversary (worth $100 in travel), and Visa Infinite travel and purchase benefits.

Capital One recently launched its luxury hotel booking program, the Capital One Premier Collection. Capital One Venture X Rewards Credit Card cardholders can access hundreds of premium hotels and resorts worldwide and receive elite-like benefits such as free breakfast, room upgrades, and on-property credits.

As with other cards that earn Capital One miles, you can transfer rewards to over a dozen airline and hotel partners to book award travel, or use miles to book through the Capital One Travel Portal.

What the experts love: Between $300 a year in travel credit and a 10,000-mile bonus on each account anniversary, you can offset the annual fee entirely — and that’s not even considering other benefits like lounge access.

What the experts don’t love: The $300 travel credit is more restrictive than other cards’ — it only applies to travel booked through Capital One.

Read our review: Capital One Venture X Rewards credit card review

Amex Gold

The American Express® Gold Card – Product Name Only is an ideal travel card for anyone who frequently eats out and/or shops at U.S. supermarkets. You’ll earn 4x Amex Membership Rewards points on these purchases (though note the $25,000 calendar year annual cap for U.S. supermarkets; after that, you’ll earn just 1 point per dollar, but that’s a pretty high cap). The card also earns 3x points on flights booked directly with the airlines or through AmexTravel.com, and 1 point per dollar on everything else.

While the $250 annual fee is on the high side, you can offset it thanks to an annual statement credit. You can get up to $120 in annual dining credits**, but it’s divided into up to $10 in credits each month, and the credit only applies at select restaurants and delivery services, including Grubhub, Seamless, Milk Bar, Wine.com, and Goldbelly, and participating Shake Shack locations.

You’ll also get up to $120 Uber Cash ($10 per month) credit each calendar year (this is only applicable to U.S. Eats orders and rides, and the Gold Card needs to be added to the Uber app to receive the Uber Cash benefit).

What the experts love: “4x points on restaurants and at U.S. supermarkets (on up to $25,000 per year, then 1x) is great — usually, a card favors one or the other,” says Rathner. Plus, the card offers monthly dining credits.

What the experts don’t love: Wilson notes that other cards offer similar benefits for a lower annual fee, and Rathner notes that the card’s travel and dining credits come with some important limitations — so read the fine print. 

Read our review: Amex Gold card review

Chase Sapphire Reserve

The Chase Sapphire Reserve® has a $550 annual fee, which means it’s not for everybody, but if you’re serious about maximizing your rewards and you travel frequently, it could be worth it. It offers a bonus of Chase Sapphire Reserve®. 

Not only do you get up to $300 in statement credits toward travel each year (and Chase has a very generous definition of travel — including everything from airfare to highway tolls), but you also earn 5x total points on air travel and 10x total points on hotels and car rentals purchased through Chase Ultimate Rewards (excluding the $300 travel credit) and 3x points on all other travel and dining. You also get airport lounge access through the Priority Pass network, which has more than 1,300 locations worldwide.

New benefits also include access to Chase Sapphire lounges (including the recently opened Boston Chase Sapphire Lounge and Hong Kong’s Sapphire Lounge, which opened in October 2022) and to the Chase Sapphire Terrace at Austin Airport. You’ll also receive benefits with DoorDash, Gopuff, and Instacart that can save you money on delivery (activation required).

The Chase Sapphire Reserve® is currently offering cardholders two years of complimentary Lyft Pink All Access membership (valued at $199 per year) for member-exclusive pricing, priority pickup, and more (activation required). 

When it comes to redeeming points, you can book travel through Chase and get 1.5 cents per point (a 50% bonus over the standard 1-cent-per-point rate), or you can transfer your Chase Ultimate Rewards to travel partners like Hyatt, British Airways, and United.

Plus, like the less-expensive Chase Sapphire Preferred® Card, the Chase Sapphire Reserve® offers some of the best credit card travel insurance around. This includes primary car rental insurance, trip delay insurance, trip cancellation protection, and lost baggage insurance.

What the experts love: Earns 3x points on travel and dining purchases made outside of Chase Ultimate Rewards portal, annual $300 travel credit, points are worth 1.5 cents apiece for travel booked through Chase

What the experts don’t love: “You have to really squeeze every drop of value out of this card to make that jaw-dropping $550 annual fee worth it,” says Sara Rathner, credit card expert at NerdWallet.

Read our review: Chase Sapphire Reserve credit card review

Amex Platinum

The Platinum Card® from American Express has one of the highest rewards card annual fees —  The Platinum Card® from American Express — but it can still be well worth it if you can put all of its statement credits and generous welcome bonus offer to use.

You’ll earn 5x points on flights when you book directly through the airline or through American Express Travel (starting January 1, 2021, earn 5x points on up to $500,000 on these purchases per calendar year), which makes the card a great choice for purchasing airfare. The card offers trip cancellation and interruption insurance, plus some of the best purchase protection, so it’s a good option for buying expensive items (and don’t forget to see if you can take advantage of an Amex Offer** for bonus points or cash back).

The The Platinum Card® from American Express offers more airport lounge access than any other personal travel card — in addition to Priority Pass membership**, you get access to Amex Centurion Lounges, Delta Sky Clubs (when you’re flying Delta), and more. 

The card’s annual statement credits can go a long way toward offsetting the high annual fee. You get up to $200 in statement credits toward airline incidental fees** like checked bags and inflight purchases; up to $100 each year in credit toward Saks Fifth Avenue purchases**; and up to $200 in annual Uber credits (including Uber Eats)**. 

The The Platinum Card® from American Express added a range of valuable benefits, including up to $300 annually in Equinox credits**, $189 per year in credits for CLEAR® Plus membership**, up to $200 per year in credits toward eligible prepaid hotel bookings, up to $240 in annual credits toward eligible digital subscriptions**, a monthly credit for Walmart+ membership**, and up to $300 back for purchasing a SoulCycle At-Home Bike through Equinox+.

Just keep in mind that you’re limited to one designated airline you choose each year in your Amex account for the airline incidental fee credit, and both the Saks and Uber credits are divided into portions. You’ll get up to $50 in statement credits toward Saks purchases from January to June, and another credit of up to $50 for Saks purchases from July to December.

With the Uber credit, you get up to $15 each month, and a $20 bonus in December for a total of $35 that month.

What the experts love: Lots of luxury benefits, including airport lounge access and statement credits with Uber and Saks

What the experts don’t love: $550 annual fee, plus this card doesn’t offer bonus points on very many types of purchases

Read our review: American Express Platinum card review

Other Top Travel Credit Cards We Considered

Our list of the best travel credit cards contains our very top picks, but there are dozens of other travel credit cards out there. Here are some cards that almost made the cut, along with why we opted to leave them off our final list.

Chase Freedom Flex℠ — This no-annual-fee card offers up to 5x points on everyday purchases and comes with a welcome bonus offer of Chase Freedom Flex℠. Although it earns Chase Ultimate Rewards, your points are only worth 1 cent each toward travel unless you also have an annual-fee card (Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card). Read our Chase Freedom Flex credit card review for all the details.Chase Freedom Unlimited® — Similar to the Flex, this card offers anywhere from 1.5x to 5x points on purchases, but you’ll need one of the three annual-fee Chase cards mentioned above to make the most of your rewards for travel. It’s got a solid welcome offer as well: Chase Freedom Unlimited®. Here’s our Chase Freedom Unlimited review to learn more.Wells Fargo Autograph℠ Card — This Wells Fargo card earns an unlimited 3x points on travel (along with restaurants, gas stations, transit, popular streaming services, and phone plans), and 1x on everything else. That’s a solid rate of return for a Wells Fargo Autograph℠ Card-annual-fee card, and you’ll get a handful of compelling benefits as well. But there are no transfer partners, so you’ll only get 1 cent per point whether you redeem for travel, statement credits, or gift cards. Read our Wells Fargo Autograph credit card review for all the details.Discover it® Miles — Discover’s travel miles-earning card earns 1.5x miles on all purchases (worth 1 cent apiece toward travel or cash back), but it doesn’t offer a traditional welcome bonus. Instead, Discover’s Cashback Match™ program will match all the miles you earn in the first 12 months of account opening — which is compelling for big spenders, but not as helpful if you won’t use the card that often. On the upside, you won’t pay an annual fee or foreign transaction fees. You can find out more in our Discover it Miles review.Bilt Mastercard® — This no-annual-fee card’s unique feature is the ability to earn rewards for paying rent with no added fees — which can translate to lots of points if you’re a renter. The Bilt Rewards program also offers a useful range of airline and hotel transfer partners, including American Airlines and Hyatt. But if you don’t rent, you can do much better with other travel cards. Here’s our Bilt Mastercard card review for the full rundown. U.S. Bank Altitude® Connect Visa Signature® Card — This is a terrific card for travel spending (including gas), offering 4x points on travel and at gas stations, 2x points at grocery stores, grocery delivery, dining, and streaming services, and 1 point per dollar everywhere else. It’s got a generous welcome bonus offer and decent benefits, too, including a Priority Pass membership with four free visits per year, Global Entry/TSA PreCheck application fee credit, travel insurance, and cell phone protection. However, after the first year, an annual fee applies — and there aren’t any opportunities to get outsized value from your points with transfer partners. You can learn more in our US Bank Altitude Connect card review.Bank of America® Travel Rewards credit card— If you want to earn travel rewards without an annual fee, this card is worth considering, although it doesn’t come with much in the way of travel benefits or extra perks. The card becomes a lot more valuable if you’re a Bank of America Preferred Rewards customer, because the points you earn from the card can be worth 25% to 75% more. Read our Bank of America Travel Rewards credit card review to find see if it’s worth it for your situation.

Choose the Best Travel Credit Card for You

While it takes more effort to redeem points or miles compared to cash back, the upside is that you can get much more value for your points compared to simply cashing in your rewards for a statement credit or check at a rate of 1 cent per point.

In fact, it’s possible to receive double, triple, or even more than that amount when you’re strategic about how you redeem your rewards, particularly if you book expensive luxury hotels or first-class flights. 

In this guide, we’ve focused mostly on the best travel credit cards that earn transferable points. Transferable points include popular currencies such as:

Amex Membership RewardsChase Ultimate RewardsCiti ThankYou RewardsCapital One miles

You can transfer these points to both airline and hotel partner loyalty programs. You can even redeem your points to offset the cash price of your travel at a flat rate.

Read Insider’s guide to points and miles valuations to find out what your airline miles, hotel points, and credit card rewards are worth. Here’s our methodology for assigning a cash value to your points and miles.

Why You Should Trust Us: Our Expert Panel for the Best Travel Credit Cards

We consulted top credit card experts as well as a certified financial planner for advice on the top travel credit cards. Their input informed our picks for the best cards, and you can find a full transcript of our interviews with each of them at the bottom of this page.

Sara Rathner, travel and credit cards expert at NerdWalletLuis Rosa, certified financial plannerSarah Silbert, deputy editor at Personal Finance InsiderBenét Wilson, former senior editor at The Points Guy

Methodology

Personal Finance Insider evaluated dozens of travel credit cards currently available to new applicants and narrowed down the list to the best options based on the following factors:

Welcome bonus offer— Do new cardholders get a valuable incentive to sign up and meet a minimum spending requirement?Ongoing rewards — How many points or miles do you earn on your purchases?Benefits — Beyond rewards, does the card offer valuable perks such as statement credits for travel, primary car rental insurance, and airport lounge access?Annual fee — Is there an annual fee, and if so, is it affordable or easy to offset with card perks?Overall value — Does the card justify its annual fee by offering useful benefits and valuable rewards, and is it worth it?

Read Insider’s guide to how we rate credit cards for a closer look at our methodology. 

The Experts’ Advice on Choosing the Best Travel Card for You

We interviewed a certified financial planner and three credit card and travel experts about what makes a good travel credit card. Their feedback informed our list of cards, and you can find the full text of our interviews below.

What features make a travel credit card good?

Sara Rathner, NerdWallet:

Generous ongoing rewards on common spending categories are something I look for, because a welcome bonus offer, while lucrative, can only get you so far. NerdWallet’s 2019 Travel Credit Card Study found that a 50,000-point bonus can cover about 1.6 flights, depending on where and when you travel. If you want to offset a trip in a more major way, you need opportunities to earn more.

Easy redemptions are also really important. No one wants to navigate a maze of rules and restrictions. Those points are yours, so you should be able to spend them without sweating the details.

Luis Rosa, CFP:

Airport lounge access, a statement credit toward Global Entry or TSA PreCheck, and a significant bonus point incentive during the first couple of months.

Sarah Silbert, Personal Finance Insider:

It needs to offer benefits that are useful for you, so it ultimately depends on how you travel and what perks you value. But a few key things to look for are a high welcome bonus offer, strong bonus rewards in your top spending categories, trip protection such as trip cancellation insurance, and no foreign transaction fees. The best premium credit cards should offer higher-end benefits such as airport lounge access and annual travel credits as well.

Benét Wilson:

They’re a great way to earn rewards that allow you to travel the world for less money — or practically for free. All you have to do is use a travel credit card to buy the same items you’d otherwise buy with cash or a debit card, but make sure you pay it off every month. With some travel credit cards, you can also get great travel perks, from airport lounge access and hotel elite status to free airline companion certificates and discounts or credits on travel purchases. You often get more value from points than from cash back.

How can someone decide whether a travel credit card is a good fit for them?

Rathner: You always want to make sure that the value you get out of a card each year exceeds the cost of holding onto it. From there, make sure the card’s other benefits are relevant to you — for example, a credit toward a CLEAR® Plus membership isn’t useful if your local airport doesn’t participate in the CLEAR® Plus program.

Rosa: I recommend looking at the welcome bonuses and also the rewards on non-travel-related purchases. Right now you might not be traveling much, but you want a card that’ll provide you with enough rewards on non-travel purchases so that you can take advantage once you resume traveling as usual. 

Silbert: It’s all about how the card’s benefits and rewards align with your lifestyle. For example, if you spend a lot on dining, you should look for a card that offers bonus points on those purchases. For cards with annual fees, it’ll only be worth it if you actually take advantage of the premium benefits.

Additionally, make sure the points you’re earning are the best type of rewards for you. Chase Ultimate Rewards points are my personal favorite since I can redeem them for travel through Chase or with my favorite travel partners including Hyatt and United, and I can also redeem them for everyday purchases through Chase Pay Yourself Back.

Wilson: You need to ask some questions. Do you plan on using the points and miles you earn on your cards for travel? Are you hoping to use your welcome bonus for a specific redemption? Are you looking for a card that gives you luxury travel perks? Are you hoping to hit elite status with a certain hotel brand or airline? Are you a casual traveler or a frequent flyer? What spending categories will be most beneficial to you? 

For example, if you want a card to help you hit elite status with United Airlines while giving you elite-like perks, then consider applying for a United credit card. Chase’s United co-branded cards give you perks such as lounge access, free checked bags, and priority boarding.

However, if you only fly occasionally or you’re not loyal to one airline, a flexible travel credit card that doesn’t offer perks on any one airline but earns points or miles that can be redeemed on a variety of airlines — like the Chase Sapphire Preferred — might be a better choice. 

If you’re a road warrior who flies every week, you’ll want to think about a premium travel card that offers lots of perks to make your travels smoother, such as the Amex Platinum, which comes with airport lounge access and hotel elite status.

Is there anything else that you think is important to note when it comes to picking a travel credit card?

Rathner: Depending on how often you travel, you may get more value out of a cash-back credit card. A NerdWallet study found that travelers who spend more than $8,600 in travel per year, or take at least one international trip per year, get the most out of travel cards. If that doesn’t sound like you, there are other rewarding cards available.

Rosa: Don’t necessarily be afraid of the annual fee. Cards with annual fees can have enough perks to make them worth it.

Silbert: There are so many great travel credit cards available that it can be tempting to sign up for several and earn their welcome bonuses, but don’t bite off more than you can chew. Start slow with one rewards card, get a feel for its perks and rewards, and adjust your credit card strategy as needed if you want additional benefits or aren’t finding the annual fee to be worth it.

Our experts answer readers’ credit card questions and write unbiased product reviews (here’s how we assess credit cards). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

The information for the following product(s) has been collected independently by Business Insider: U.S. Bank Cash+® Visa® Secured Card, Bank of America® Customized Cash Rewards Secured Credit Card, U.S. Bank Altitude® Go Visa® Secured Card. The details for these products have not been reviewed or provided by the issuer.

Secured credit cards tend to be devoid of flashy ongoing benefits and high earning rates. They instead serve one main purpose: to get someone with poor (or no) credit on their feet.

Whether you’re applying for your first credit card, are new to the US and looking to improve your credit score, or are trying to rebuild your credit after previous financial blunders, a secured credit card is one of the best plans of attack.

Best Secured Credit Cards

U.S. Bank Cash+® Visa® Secured Card – Product Name Only: Best overallBank of America® Customized Cash Rewards Secured Credit Card – Product Name Only: Best for choosing your own bonus categoriesU.S. Bank Altitude® Go Visa® Secured Card – Product Name Only — Best for diningCapital One Quicksilver Secured Cash Rewards Credit Card – Product Name Only — Best for collecting travel rewardsDiscover it® Secured Credit Card – Product Name Only — Best welcome offer

Once you’ve nurtured a credit score of 700 or above, you can begin applying for the best credit cards that come with travel benefits, hundreds of dollars in statement credits, enormous welcome bonuses, and more.

If you’re in the market for a secured credit card, it needs to be one on this list. Other secured cards simply cannot stack up against the earning rates of those detailed below.

Let’s take a look at the best secured credit cards available to help you decide which is best for your lifestyle — and your future credit card goals.

Compare Secured Credit Cards

 

Secured Credit Card Frequently Asked Questions

What is a secured credit card?

A secured credit card is a card that banks will extend to customers who have little to no credit history — or to those who have made mistakes with credit in the past and are trying to repair their credit. If you’re just beginning your credit journey, or if you’re trying to rebuild, a secured credit card may be the only card you qualify for.

How does a secured credit card work?

Secured credit cards work by minimizing the risk involved with a bank extending to you a credit line. Because you’ve got either a negative or nonexistent credit history, the bank will require you to give them a cash deposit (usually between $200 and $5,000). The size of your deposit will dictate how large your credit line is. For example, if you want a credit line of $1,000, you’ll have to deposit $1,000 to the bank.

The bank will hold this money as collateral. This ensures that if you are unable to pay your loan, the bank can pay your bill with your money. If you close your secured credit card, or if you are upgraded to a non-secured card, you’ll get your money back.

Do secured credit cards build credit?

Secured credit cards can help you build your credit history, as long as you use them responsibly. That means paying your bill on time and not spending more than you can afford. Secured cards report your account and activity to the major credit bureaus, meaning they will show up on your credit report and factor into your credit score calculation.

What is a good secured credit card?

A good secured credit card is one that successfully helps you improve your credit score. You’ll need to “secure” your line of credit by putting down a deposit, but as long as you pay off your balance, you’ll be showing the credit card issuer that you can be responsible with a line of credit. A good secured credit card may also offer other perks, like rewards on your spending.

U.S. Bank Cash+® Visa® Secured Card – Product Name Only

The U.S. Bank Cash+® Visa® Secured Card – Product Name Only might not look exciting at first glance, but it’s a surprisingly valuable product available to those new to the world of credit.

First, you’ll earn 5% cash back on prepaid air, hotel, and car reservations booked through the US Bank Rewards Travel Center. The bonus cash you can earn is uncapped.

You’ll also get 5% cash back on your first $2,000 in combined spending each quarter in two categories you choose. Eligible categories are fast food, home utilities, TV/internet/streaming, department stores, cell phone providers, electronic stores, sporting goods stores, gyms/fitness centers, ground transportation, movie theaters, furniture stores, and select clothing stores. That’s a healthy number of categories to choose from — though seemingly well selected to eliminate much possibility of spending too much per quarter.

Additionally, you can receive 2% cash back on eligible purchases in your choice of one of the following categories: Grocery stores and grocery delivery, restaurants, and gas stations/EV charging stations. You’ll earn 1% cash back on all other eligible purchases.

U.S. Bank Cash Plus Secured Credit Card review

Bank of America® Customized Cash Rewards Secured Credit Card – Product Name Only

The Bank of America® Customized Cash Rewards Secured Credit Card – Product Name Only, similar to the U.S. Bank Cash+® Visa® Secured Card – Product Name Only, allows you to choose your own bonus categories. You’ll earn 3% cash back from one of the following categories: Gas, online shopping, dining, travel, drug stores, and home improvement/furnishings.

These are extremely practical bonus categories that powerfully complement the spending habits of most of us. You can change your bonus category once per calendar month, so if you anticipate spending a lot on home furnishings in the coming month, you can prepare for it. You’ll also get 2% back at grocery stores and wholesale clubs and 1% back on everything else.

You can further boost your rewards if you’re also a member of Bank of America Preferred Rewards. For those with a certain amount of assets in a Bank of America or Merrill account, you could earn between 25% and 75% more cash back — bringing your potential rewards up to a whopping 5.25%.

This card’s 3% and 2% bonus categories are only valid on up to $2,500 in total spending each quarter. Once you reach $2,500 in spending, you’ll earn 1% cash back.

Bank of America Customized Cash Rewards Secured Credit Card review

U.S. Bank Altitude® Go Visa® Secured Card – Product Name Only

The U.S. Bank Altitude® Go Visa® Secured Card – Product Name Only is likely your best bet for a meaningful return on spending if you eat out regularly. You’ll get 4 points per dollar on dining, takeout, and restaurant delivery. You’ll also get 2 points per dollar at grocery stores, gas stations/EV charging, and for eligible streaming services, which include popular platforms such as Amazon Prime Video, Apple TV+, Hulu, Netflix, YouTube TV, and many more.

You’ll receive 1 point per dollar for everything else. The points you earn with this card can be redeemed for a flat 1 cent each — meaning this card effectively earns 4% back on dining.

One other benefit of this card (which is excellent for a no-annual-fee credit card) is its annual streaming credit. For each 12-month period that you make a qualifying streaming purchase, you’ll automatically receive a $15 credit on your account.

U.S. Bank Altitude Go Secured Credit Card review

Capital One Quicksilver Secured Cash Rewards Credit Card – Product Name Only

The Capital One Quicksilver Secured Cash Rewards Credit Card – Product Name Only might appear to underdeliver when it comes to earning rewards for everyday spending, especially compared to the other cards on this list. You’ll get 5% cash back on hotels and car rentals booked through the Capital One Travel Portal and a flat 1.5% cash back on all other eligible purchases.

However, this card has a secret ability that others do not: You can turn the cash back you earn into valuable Capital One miles at a rate of 1 mile per cent. The key is to also hold a Capital One miles-earning card such as the Capital One VentureOne Rewards Credit Card – Product Name Only or the Capital One Venture Rewards Credit Card – Product Name Only. Per Insider’s points and miles valuations, Capital One miles are worth 1.7 cents each when you transfer them to airline and hotel loyalty programs such as British Airways, Air Canada Aeroplan, Wyndham, and more.

If your future goals include travel, refrain from cashing out the rewards you earn with this card. Once your credit score is around 700, open a Capital One miles-earning card and combine your rewards. You may instantly have enough for a free trip to just about anywhere.

Capital One Quicksilver Secured Card review

Discover it® Secured Credit Card – Product Name Only

The Discover it® Secured Credit Card – Product Name Only is a pretty straightforward cash-back card with few bonus categories that are easy to keep track of. It earns a simple 2% back at gas stations and restaurants on up to $1,000 in combined purchases each quarter (then 1% back). You’ll earn 1% cash back on everything else.

This card is exceptionally valuable during the first year of cardmembership, however. Discover will match all the cash back you earn during your first 12 months. That means you’ll earn up to 4% cash back at gas stations and restaurants and 2% cash back on all other purchases.

If much of your everyday spending doesn’t fall into the bonus categories of the other credit cards on this list, the Discover it® Secured Credit Card – Product Name Only is the clear winner for you, as you’ll earn no less than 2% back during your first 12 months.

Discover it Secured Credit Card review

Why Trust Us: How We Chose the Best Secured Credit Cards

With little exception, secured credit cards do not provide ongoing benefits that are worth mentioning. The approval requirements are also extremely similar across the board. Therefore, we chose the best credit cards based on each card’s earning rate and rewards currency.

Many secured credit cards come with no return whatsoever for spending. The cards on our list not only earn rewards, but they also rival (and even outperform) some of the best no-annual-fee cash back credit cards on the market.

Here’s a full breakdown of how we rate credit cards at Insider.

Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

If you frequently have your phone within arm’s reach, then you may want to consider banking with an institution that has a strong app. 

The best banking apps have easy-to-use interfaces that make it easy to manage your account. With just a few taps, you should be able to view your account balances, deposit checks, and contact customer support. With some apps, you can also do things like see your balance without logging in or track your credit score. 

Best Mobile Banking Apps

Ally Spending Account – Brand NameBank of America Advantage Plus Checking Account – Brand NameCapital One 360 Checking® – Brand NameSchwab Bank High Yield Investor Checking® Account – Brand NameChase Total Checking® – Brand NameHuntington Asterisk-Free Checking® Account – Brand NameSynchrony High-Yield Savings Account – Brand Name

These are our top picks for mobile banking apps. If you’re also interested in another useful apps, consider going through our best budgeting apps guide.

With a banking app, you should be able to do basic things you’d normally at a bank — deposit checks, speak with a representative, and see your account balances.

Best Mobile Banking App Reviews

Ally 

Through the Ally mobile app you can set up savings or spending buckets that let you save for separate goals, like an “Emergency fund” and “Travel Account.” You can also use the Surprise Savings feature to evaluate how much you can afford to save in your checking account, then automatically transfers extra money into savings up to three times per week.

Ally offers 24/7 live customer support, both over the phone and via chat. You can also find nearby ATM locations while using the app.

Some of our other top picks also have better average scores in the Google Play store.

Ally Bank Review

Bank of America

Bank of America is an excellent national banking option for avid mobile users. The brick-and-mortar bank ranks highest in banking mobile app satisfaction, according to a 2023 J.D. Power Online Banking Satisfaction Study.

The mobile app has numerous security features. For example, the app has a security meter that visually represents how to increase the level of protection in your account. You can also receive mobile app alerts for your account balance, or order to replace your debit card if it is lost.

Keep in mind Bank of America checking and savings accounts have monthly service fees unless you meet certain requirements. If you want bank accounts that do not charge any monthly service fees the best online banks may be more appealing for you.

Bank of America Review

Capital One

The Capital One mobile app is rated the second highest in mobile app customer satisfaction among national banks, according to a 2023 JD Power Online Banking Satisfaction Study. You can use the bank’s app to deposit checks, track your credit score,  or monitor your bank account.

 If you’re also set on earning a high interest rate on a bank account, bear in mind that other online banks may have more competitive savings or CD rates right now. 

Capital One 360 Review

Charles Schwab

Charles Schwab lets you invest, save, and spend in the same app. You can use the app to deposit checks or make lists to help monitor market trends.

Some of our other top picks have better Google Play ratings. You must also invest with Charles Schwab to open a checking account.

Charles Schwab Review

Chase

 Through the Chase mobile app, you can manage your bank accounts, investments, and credit card/card points. You may track your credit score or deposit checks.

The Chase mobile app allows you to set up automatic savings transfers and create folders for separate savings goals, like “Vacation Fund” or “College Savings.” The mobile app is rated highly in customer satisfaction among national banks, according to a 2023 JD Power Online Banking Satisfaction Study.

While Chase offers strong mobile banking, you’ll need to be mindful of monthly service fees. Most of the accounts have ways to waive fees, but if you would prefer a fee-free bank account you might prefer another bank.

Chase Bank Review

Huntington Bank 

Huntington ranks No. 1 in customer satisfaction for a regional bank in the J.D. Power 2023 US Banking Mobile App Satisfaction Study. You can view your account balances without logging in and use the Huntington Heads Up feature to alert you if there is suspicious activity on your account or if you’re close to overdrawing. The app also has mobile check deposit and helps you find nearby ATM and branch locations.

As this is a regional bank, there are only branches in seven US states.

Huntington Bank Review

Synchrony 

You can your credit cards and bank accounts in the same app. Synchrony also has mobile check deposit and offers tips to help you learn about personal finance and managing your money. 

Synchrony doesn’t have a checking account.

Synchrony Bank Review

Mobile Banking Apps FAQs

What is a banking app?

Most big banking institutions have apps you can download in the Apple or Google Play store. You’ll create a username or password. If you’ve already used online banking on your web browser, the login information is probably the same. The app layout should be similar to the browser layout.

Are banking apps free?

Most banking apps are free when you have an account with the bank. But keep in mind that the accounts themselves could come with some fees.

Some banks charge monthly service fees, unless you qualify to waive them. You could also pay fees for overdraft fees, ATM fees, or foreign transaction fees.

What can I do on a banking app?

At the very least, you should be able to use your banking app to check you account balances, transfer money between your own bank accounts, deposit paper checks with the app’s camera, and find customer service contact information. The top banking apps have even more robust features, such as showing all of your financial information in one place, 24/7 live chat, or automatic savings tools.

Why You Should Trust Us: Experts’ Advice on the Best Mobile Banking Apps

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best mobile banking app for your needs.

Insider

Here’s what they had to say about mobile banking apps. (Some text may be lightly edited for clarity.)

What should I look for in a mobile banking app? 

Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:

“What kind of push notifications do they offer? Do they offer push notifications for when you swipe your card or if money is deposited into your account? Also, what’s the customer support like? Do they have a 24/7 phone number available? Emails? Do they have a chat box?”

Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:

“I think it’s important for a mobile banking app to have mobile check deposit and features that help you understand your spending. Maybe there’s a feature that can help you save for specific goals or track your cash flow.” 

What makes a strong mobile banking app? 

Sophia Acevedo, CEPF:

“I think strong mobile app should be as straightforward as possible. You should be able to easily navigate the app and utilize the features without running into any technical difficulties.”

Mykail James, MBA, CFEI:

“One thing that I love for banks to do is when they offer a virtual debit card or credit card. Sometimes I don’t always have a physical card with me. ” 

Methodology: How We Chose the Best Mobile Banking Apps

To choose our favorite banking apps, we only looked at apps with at least 5,000 reviews in both the Apple and Google Play stores. Then we narrowed it down to apps with strong average ratings in both stores.

We selected apps for banks that are available in a large chunk of the US. This could mean that a bank has branches in multiple US states, or that it operates online.

Our top picks have competitive products that set them apart from other institutions. For example, a bank may pay high interest rates, have tools to help you save money, or offer early direct deposit.

Where applicable, we also looked at customer satisfaction ratings on J.D. Power surveys.

Our experts answer readers’ credit card questions and write unbiased product reviews (here’s how we assess credit cards). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

The information for the following product(s) has been collected independently by Business Insider: U.S. Bank Business Triple Cash Rewards World Elite Mastercard®, Capital One Spark Cash Plus†, Capital One Spark Miles for Business†, Capital One 1% Classic†, United Club℠ Business Card, AAdvantage® Aviator® World Elite Business Mastercard®, Alaska Airlines Business Credit Card, Wyndham Rewards® Earner Business Card. The details for these products have not been reviewed or provided by the issuer.

Opening a rewards credit card for your business spending is a smart move, whether you want to earn cash back to put back into your small business, or rack up points and miles to redeem for travel down the road. You don’t even need to own a full-time business or have an LLC to qualify for a small-business credit card; even side gigs like Lyft driving, delivering for Instacart, operating an Airbnb, running a blog, or freelancing can make you eligible.

The best small business rewards credit cards can earn you cash back, flexible rewards, airline miles, or hotel points, and many have no annual fee.

The list of best business credit cards is long, with an option for every type of venture, and the best of these earn valuable rewards and come with compelling benefits that can make running your business easier. 

Here are the best business rewards credit cards on the market.

Best Rewards Business Cards of 2023

American Express Blue Business Cash™ Card – Product Name Only: Best flat-rate cash back with no annual feeInk Business Unlimited® Credit Card – Product Name Only: Best uncapped cash backInk Business Cash® Credit Card – Product Name Only: Best no annual fee card with up to 5% cash backU.S. Bank Business Triple Cash Rewards World Elite Mastercard® – Product Name Only: Best no annual fee cash back card with an intro 0% APRCapital One Spark Cash Plus – Product Name Only: Best cash-back card for big spendersThe Blue Business® Plus Credit Card from American Express – Product Name Only: Best for earning travel points with no annual feeInk Business Preferred® Credit Card – Product Name Only: Best overall travel rewards cardCapital One Spark Miles for Business – Product Name Only: Best beginner travel rewards cardThe Business Platinum Card® from American Express – Product Name Only: Best travel rewards card with luxury perksAmerican Express® Business Gold Card – Product Name Only: Best for automatically maximizing rewardsUnited℠ Business Card – Product Name Only: Best airline business card

Compare the Best Business Rewards Credit Cards

Business Rewards Credit Cards Frequently Asked Questions

How can I qualify for a business credit card?

You can qualify for a business credit card without a multi-million-dollar corporation or even a full-time venture. Freelance or part-time businesses where you’re the sole proprietor are eligible, too, like driving for Lyft, reselling merchandise online, or providing paid childcare. Small-business owners who aren’t sole proprietors (like those with LLCs or even larger businesses) are eligible for small-business cards as well, but you be asked to include your Employer Identification Number (EIN) on your credit card application as well as your Social Security Number.

What is the best business rewards card?

The best business rewards card depends on things like your goals and spending habits. If you’re new to rewards business credit cards, you can’t go wrong with a no-annual-fee cash-back card like the Ink Business Unlimited® Credit Card – Product Name Only or American Express Blue Business Cash™ Card if you’re looking for the best combination of simplicity and value.

I already have a personal credit card. Why should I get a business credit card?

You should get a business credit card to keep your business and personal expenses separate. Opening and using a small-business card for your business expenses can help keep you organized, and taking advantage of specific small-business tools these cards offer can make your life easier as well — particularly during tax time.

If my personal credit score is low, am I still eligible to get a business credit card? 

If your credit is low, you may not qualify for the best small-business credit cards. Even if your business has an employee identification number (EIN), the card issuer will still need to use your social security number (SSN) to check your personal credit history. However, you might still be eligible for business credit cards geared toward those with limited or fair credit (such as the Capital One®️ Spark®️ Classic for Business). If you have bad credit, you can apply for a secured credit card so you can boost your credit score through responsible use. 

Business Rewards Credit Card Reviews

The American Express Blue Business Cash™ Card – Product Name Only

American Express Blue Business Cash™ Card is one of the best 2% cash back credit cards. It’s an excellent choice for business owners who want high reward rates, but don’t want to keep track of bonus categories for different types of purchases.

American Express Blue Business Cash™ Card offers an excellent cash-back rate — 2% cash back on all purchases on the first $50,000 spent each calendar year (then 1% back). Your cash back is received in the form of Reward Dollars. The card is currently offering The American Express Blue Business Cash™ Card – Intro Bonus.

There’s also a American Express Blue Business Cash™ Card (then a American Express Blue Business Cash™ Card APR) that can help you save some money on interest if you have large purchases on the horizon.

Cardholders get access to a suite of small-business tools and features, including access to the American Express business app, which can help you scan and organize receipts and export expense reports. Employee cards are free to add, and you can easily set up spending limits. You’ll also receive a decent range of benefits, like purchase protection, extended warranty, car rental insurance, and access to discounts through Amex Offers**.

Amex Blue Business Cash card review

Ink Business Unlimited® Credit Card – Product Name Only

The Ink Business Unlimited℠ Credit Card is a great pick if you want a no-annual-fee card that earns unlimited 1.5% cash back on all purchases, with no spending caps or fussy bonus categories. Plus, it comes with an excellent welcome bonus offer.

The Ink Business Unlimited℠ Credit Card starts new cardholders off with one of the highest welcome bonuses of any no-annual-fee small-business card: Ink Business Unlimited® Credit Card. Even though it’s marketed as a cash-back card, you’ll actually earn rewards in the form of Chase Ultimate Rewards® points, which are worth 1 cent each toward statement credits, gift cards, or travel booked through Chase.

Your rewards become more valuable if you also have an annual-fee Chase card, like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card. That’s because you can combine your points into one of these accounts, then transfer them to Chase’s airline and hotel partners to book award travel at potentially a much higher value.

New cardholders receive a Ink Business Unlimited® Credit Card (then a Ink Business Unlimited® Credit Card APR). In addition, you’ll get access to excellent benefits, including roadside dispatch, account management tools, and travel emergency assistance.

The Chase 5/24 rule applies to this and other Chase cards. That means that if you’ve opened five or more cards in the past 24 months (from any bank, except certain small-business cards) you won’t be approved.

Chase Ink Business Unlimited credit card review

Ink Business Cash® Credit Card – Product Name Only

The Ink Business Cash® Credit Card could help you earn maximum cash back on your expenses if your business spends a lot in eligible categories. With a big welcome bonus offer and up to 5% cash back on spending, this is an excellent no-annual-fee option.

Like the Ink Business Unlimited℠ Credit Card, the no-annual-fee Ink Business Cash® Credit Card earns rewards in the form of Chase Ultimate Rewards points and comes with a strong welcome bonus offer: Ink Business Cash® Credit Card. However, instead of flat-rate cash back on all purchases, the card earns bonus rewards in certain categories:

5% cash back (5 points per dollar) on the first $25,000 spent (then 1x) in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year2% cash back (2 points per dollar) on the first $25,000 spent (then 1x) in combined purchases at gas stations and restaurants each account anniversary year1% cash back (1 point per dollar) on all other purchases with no cap

This card won’t make sense if your business doesn’t spend much at office supply stores, gas stations, restaurants, or on cable, internet, and phone services. But if you do, the Ink Business Cash® Credit Card has the potential to be very rewarding. That’s why it’s on our list of the best 5% cash back credit cards.

There’s also a Ink Business Cash® Credit Card (then a Ink Business Cash® Credit Card APR) which can help you save money if your business has large purchases to make that can’t be paid off all at once. You’ll also get access to business management tools and benefits like purchase protection, extended warranty, and roadside dispatch.

Chase Ink Business Cash credit card review

U.S. Bank Business Triple Cash Rewards World Elite Mastercard® – Product Name Only

The U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® checks all the boxes for anyone who wants to earn rewards and get a generous intro APR on purchases and balance transfers. It comes with a substantial welcome bonus, too.

The U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® is a rare combination of solid earning, a generous bonus, and a long intro APR on purchases and balance transfers — all with no annual fee. The welcome bonus offer is an excellent deal, but just be aware authorized user purchases won’t count toward the minimum spending requirement, which isn’t the case on most other cards.

This card earns 5% cash back on prepaid hotels and car rentals booked through the U.S. Bank Rewards Center, 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers, and restaurants, and 1% cash back on all other eligible purchases. Again, if these bonus categories match your typical business expenses, you could do very well with the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard®.

U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® also has a U.S. Bank Business Triple Cash Rewards World Elite Mastercard® (then a U.S. Bank Business Triple Cash Rewards World Elite Mastercard® APR). This is a terrific option for folks looking to pay down credit card debt without incurring higher interest or pay off larger purchases (such as computers and other tech. equipment) over multiple billing cycles. 

Cardholders can also receive an annual $100 statement credit for recurring software subscription expenses like FreshBooks or QuickBooks, which is a nice deal for a no-annual-fee card. Other benefits include World Elite Mastercard benefits and access to Rewards Center Earn Mall. 

U.S. Bank Triple Cash Rewards card review

Capital One Spark Cash Plus† – Product Name Only

The Spark 2% Cash Plus could be a great fit if your business needs the flexibility of no preset spending limit and spends enough to justify paying an annual fee in exchange for 2% cash back with no limits. Plus, cardholders can now earn unlimited 5% cash back on hotel and rental car bookings through Capital One Travel. 

The Spark 2% Cash Plus earns 5% back on travel bookings and 2% back on all other purchases (no caps or limitations). Although the card has a Spark 2% Cash Plus annual fee, there’s no limit to earning 2% back on everything. 

The welcome bonus is particularly compelling for high-spending businesses: Spark 2% Cash Plus. And, because it’s a charge card, there’s no preset spending limit, giving you some flexibility if you have a particularly large expense to charge. There’s no APR because you need to pay your balance off in full each month (otherwise, a 2.99% monthly late fee applies).

Big spenders can also be rewarded with an annual spending bonus: Each year when you spend $150,000 or more on your card, you’ll earn a $150 cash bonus. That’s in addition to built-in perks like extended warranty***, car rental insurance***, roadside assistance***, and travel emergency assistance services***.

Capital One Spark Cash Plus card review

The Blue Business® Plus Credit Card from American Express – Product Name Only

The Blue Business® Plus Credit Card from American Express is one of the few no-annual-fee cards that earn flexible travel points, and it’s a particularly good option right now with a strong welcome bonus offer of The Blue Business® Plus Credit Card from American Express – Intro Bonus. It also offers up to 2 points per dollar earning across the board.

If earning valuable Amex Membership Rewards points is part of your travel strategy, The Blue Business® Plus Credit Card from American Express should be on your radar. It earns a generous 2 points per dollar on all purchases, on up to $50,000 in spending per year (then 1x). This makes the card ideal for businesses that don’t spend much past that threshold.

Beyond the welcome bonus of The Blue Business® Plus Credit Card from American Express – Intro Bonus, cardholders can expect a few solid benefits from the card, like purchase protection, extended warranty, car rental insurance, and small-business management tools. This card is also part of the Amex Trifecta — a trio of cards that can help you earn 2x to 5x Amex points on every single purchase you make. 

Amex Blue Business Plus credit card review

Ink Business Preferred® Credit Card – Product Name Only

The Ink Business Preferred® Credit Card should be on your shortlist if you like earning flexible travel points and don’t mind paying a modest annual fee. With a massive welcome bonus offer, great earning categories, and top-notch benefits, this card is hard to beat.

The Ink Business Preferred® Credit Card is ideal for small-business owners who spend a lot in popular business categories, especially for those who like to maximize their rewards by redeeming them for travel. The card starts you off with a huge welcome bonus of Ink Business Preferred® Credit Card. That’s potentially worth Ink Business Preferred® Credit Card in travel (based on Insider’s valuation of Chase points) when you transfer points to Chase’s airline and hotel partners and book award travel.

Cardholders earn 3 points per dollar on up to $150,000 in combined spending each year (then 1 point per dollar) on:

Shipping purchasesAdvertising purchases on social media sites and search enginesInternet, cable, and phone servicesTravel (including airfare, hotels, rental cars, and more)

All other purchases earn 1 point per dollar. If these categories are typical expenses for your business, you could take home a huge haul of rewards from this card each year.

One downside: The Ink Business Preferred® Credit Card doesn’t offer an introductory 0% APR. That said, it comes with plenty of other benefits that can potentially save you money, including cell phone protection, trip cancellation/interruption insurance, extended warranty, and purchase protection.

Chase Ink Business Preferred card review

Capital One Spark Miles for Business† – Product Name Only

The Capital One Spark Miles for Business earns unlimited 2x miles on all purchases and offers a welcome bonus worth at least $500 in travel. Its rewards are simple to use toward travel purchases, but you can unlock even more value by transferring miles to airline and hotel partners.

If you’re looking for a straightforward travel credit card with a rewards program that’s as simple as they come, the Capital One Spark Miles for Business is an excellent option. Along with a strong welcome bonus offer, the card earns 2x miles on all purchases (except hotels and rental cars booked through Capital One, which earn unlimited 5x miles).

You can redeem Capital One miles at a rate of 1 cent each to “erase” travel purchases made with your card or to book travel through the Capital One Travel Portal, which is great if you don’t want to fuss with award charts or complicated loyalty programs. But if you want to squeeze the most value from your miles, transferring them to Capital One’s airline and hotel partners is an option too, and you could potentially get a much higher return that way.

Cardholders get some sweet benefits with this card as well, including up to a $100 credit toward the Global Entry or TSA PreCheck application fee, two free Capital One Lounge visits each year, and small-business management tools.

Capital One Spark Miles for Business card review

The Business Platinum Card® from American Express – Product Name Only

The Business Platinum Card® from American Express has a high annual fee, but it’s more than worth it if you take advantage of the card’s premium perks, including airport lounge access, up to $200 in annual airline incidental fee credits**, and up to $400 in Dell statement credits** each year.

With a The Business Platinum Card® from American Express annual fee, The Business Platinum Card® from American Express certainly isn’t for everyone. However, it can put much more than that in value back into your pocket if you make the most of its wide array of upscale benefits and earning opportunities.

Cardholders earn:

5 points per dollar on flights and prepaid hotels booked through Amex Travel1.5 points per dollar on eligible purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year1 point per dollar on everything else

Along with the aforementioned benefits, cardholders can take advantage of up to $120 in credits for U.S. wireless providers each calendar year**, up to $360 in Indeed credits each calendar year**, up to $150 in Adobe credits each calendar year**, and up to $189 back per year in credits for CLEAR® membership**.

Amex Business Platinum card review

American Express® Business Gold Card – Product Name Only

The American Express® Business Gold Card is only a good fit for certain types of businesses, but if you spend a lot in its bonus categories, it can supercharge your Amex Membership Rewards points earning.

The American Express® Business Gold Card is an excellent customizable rewards business credit card for folks capable of paying the pricey annual fee. For a American Express® Business Gold Card annual fee, you’ll earn 4 American Express Membership Rewards points per dollar on two spending categories (from a list) of your choosing up to $150,000 per calendar year (1 point per dollar thereafter). Eligible 4x categories are: 

U.S. gas stationsU.S. restaurants (including takeout and delivery)U.S. wireless telephone service provider U.S. purchases made from electronic goods retailers and software & cloud system providers U.S. purchases for advertising in select media (online, TV, radio)Transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways 

So if your business spends big in these categories, the American Express® Business Gold Card is worth the extra expense. You’ll also earn 3 points per dollar on flights and prepaid hotels booked on AmexTravel.com

Cardholders can also take advantage of excellent travel and purchase benefits, including a 25% points rebate on first- and business-class flights (up to 250,000 points back per calendar year) booked through American Express Travel, baggage insurance, trip delay insurance, and extended warranty.

Amex Business Gold card review

Airline and Hotel Business Rewards Credit Cards

Most major hotel chains and U.S. airlines offer co-branded small-business credit cards. If you’re a frequent traveler and you’re loyal to any of these programs, you should look at these options.

Airline credit cards earn frequent flyer miles on every purchase, and usually come with benefits like free checked bags and priority boarding. 

Delta

Delta SkyMiles® Gold Business American Express Card (read our American Express Delta Gold Business card review)Delta SkyMiles® Platinum Business American Express Card (read our Delta American Express Platinum Business card review)Delta SkyMiles® Reserve Business American Express Card (read our Amex Business Delta Reserve card review)

United Airlines

United℠ Business Card (read our United Business card review)United ClubSM Business Card 

American Airlines

CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® (read our CitiBusiness AAdvantage Platinum Select American Airlines credit card review)AAdvantage® Aviator® World Elite Business Mastercard® (read our Barclays AAdvantage Aviator Business Mastercard review)

Southwest Airlines

Southwest Rapid Rewards® Premier Business Credit Card (read our Southwest Premier Business card review)Southwest Rapid Rewards® Performance Business Credit Card (read our Southwest Performance Business credit card review)

Alaska Airlines

Alaska Airlines Business Credit Card (read our Alaska Airlines Business credit card review)

Hotel business credit cards allow you to earn hotel points on your business spending, and many of these cards offer complimentary elite status and annual free reward nights.

Hilton

The Hilton Honors American Express Business Card (read our Amex Hilton Honors Business card review)

Marriott 

Marriott Bonvoy Business™ American Express® Card (read our Marriott Bonvoy Business Amex card review)

Hyatt

World of Hyatt Business Credit Card (read our World of Hyatt Business credit card review)

IHG

IHG® Rewards Premier Business Credit Card (read our IHG Premier Business credit card review)

Wyndham

Wyndham Rewards® Earner Business Card (read our Wyndham Rewards Earner Business card review)

Why You Should Trust Us: How We Chose the Best Rewards Business Cards

Trying to examine each of the dozens of rewards business credit cards yourself is a tall order. We’ve done the legwork for you by pitting each against the other to determine the cards with:

The biggest welcome bonusesThe highest earning ratesThe most valuable ongoing benefits

Read about how we rate and review credit cards at Insider. And check out our credit card reviews hub to see which credit cards are at the top of their respective category.

Soaring mortgage rates have priced buyers out of the market, but some experts are saying to buy now and refinance later. Is it really that easy? Here’s what to know.

Knoxville, Tennessee

Bruce Yuanyue Bi/Getty Images

Tennessee is becoming a popular state-to-state moving route.Floridians, Texans, and Californians in particular are relocating there for a slower pace of life. Knoxville, Nashville, and Memphis continuously rank among the top places to live in the US. 

Lindsey Moore, a mom of three and a dental technician who posts about her life on TikTok @lindseyswagmom, recently extolled the virtues of her new home state: Tennessee.

Moore, who said on the platform that she had moved from Florida, listed “neighborhood block parties,” “good soil and gardens,” “seasons,” “community,” “snow,” “waterfalls,” and “mountains” as some of the reasons she and her family love the Volunteer State, according to an April 10 video.

Moore, who didn’t immediately respond to a request to elaborate on her move, is one of a growing cohort of people moving from bigger states — Florida, but also California and Texas — to Tennessee. (Tennessee has 7 million people to Florida’s 22 million, Texas’ 30 million, and California’s 39 million.)

It may be small, but it’s mighty appealing: Between July 2021 and July 2022, more than 225,000 people moved into Tennessee, according to census data that tracks state-to-state migration. While more populous states like New York and Pennsylvania technically attracted larger numbers of movers, 225,000 is considered a significant influx in light of Tennessee’s relatively small total population.

Movers and their real-estate agents describe the state as quieter and friendlier. They also say their money goes farther in Tennessee than in the more expensive communities they left behind. Its three largest cities — Knoxville, Nashville, and Memphis — continuously rank among the top places to live in the US. Software giant Oracle, Meta’s Facebook, and Amazon have all opened offices in the state, hoping to cash in on the tax-friendly environment and a growing pool of talented workers. The number of high-paying jobs— such as positions at tech companies — is growing, and home prices remain below the national average. In short, movers can get more for less.

“We don’t have a state income tax. We have four seasons,” said real-estate agent Rachael Wedekind, who is based in Knoxville, the gateway to the Great Smoky Mountains. Relocators, she added, “want something that feels like a little bit more of a small town.”

Floridians who move to Tennessee are looking for a simpler lifestyle

Most of the 225,000 people who moved to Tennessee between 2021 and 2022 came from Florida: over 25,000 people traded Sunshine State beaches for Tennessee mountains during that period, according to census data.

Knoxville realtor Jamie Foreman chalked it up to “our lower cost of living, lower cost to purchase a home, and the economics here.”

Movers from the Miami, Orlando, and Tampa areas, in particular, were among the top out-of-state home shoppers in Memphis and Knoxville between July and October of 2023, Realtor.com data shows.

The allure of some Tennessee cities is not only rooted in the cheaper cost of homes but also a down-to-earth way of life that is becoming less attainable in Florida as wealthier people move south, Florida real-estate agent Holly Meyer Lucas told Insider earlier this month. She said many Floridians are packing up for places like Knoxville, Tennessee; Greenville, South Carolina; and Huntsville, Alabama, which she collectively calls “the Villes.”

Floridians are eyeing places where, for example, there isn’t a months-long waiting list for daycare spots for their children, Meyer Lucas said.

“The people that are leaving Florida are those that hold these infrastructure jobs — where they can copy and paste their job and move it someplace else — like nurses, teachers, cops … Those jobs are in high demand in growing areas,” Meyer Lucas said. “People are moving to simpler places because the places that they’re leaving are becoming very, very complicated.”

Texans and Californians make up a considerable chunk of newcomers

Californians make up the next-biggest batch of the new Tennesseans: 22,000 people made that move between July 2021 and July 2022. Real-estate agents said they’re motivated to leave behind crowds and a high cost of living, too.

Michael Tyler, a 69 year old who recently chose Tennessee over a famous retirement community in Florida when moving from Sacramento, told Insider in February that the Golden State was too crowded and too expensive. He and his wife sold their 1,200-square-foot condo for $415,000 and spent less — $400,000 on a 2,700-square-foot house with four bedrooms — in the eastern Tennessee town of Jonesborough.

Wedekind, the Knoxville real-estate agent, said about 25% to 30% of her out-of-state customers right now are from California and Texas, the latter being a similarly sized state that has grown in popularity and price in recent years.

In the third quarter, people from the Dallas-Fort Worth metro area in Texas were among the top out-of-state shoppers browsing homes in Knoxville and Memphis, Realtor.com data shows.

Our experts answer readers’ investing questions and write unbiased product reviews (here’s how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.

Bottom line: Facet Wealth – Product Name Only is best for people seeking frequent, ongoing personal financial advice and investment management. The firm offers a wide range of financial planning services like tax planning, retirement planning, financial wellness, and real estate guidance. But its high flat annual fee may not be worth it to folks seeking one-time consultation or infrequent guidance. 

About Facet Wealth

Facet Wealth – Product Name Only is an online financial planning firm that gets you access to certified financial planners (CFPs) for professional investment advice, retirement planning, tax planning, and much more. With a membership, you’ll get access to objective investment advice and planning resources for a broad range of topics. 

Facet Wealth takes great care in matching each prospective client with one of its fiduciary financial advisors. The CFPs are required to follow the fiduciary duty and do not earn commissions or kickbacks.

Facet’s fiduciaries offer a wide range of financial planning and wealth-building services customized for your individual needs. It utilizes a holistic approach to personal finance subjects while offering a range of helpful tools like live portfolio monitoring, proactive portfolio rebalancing features, and tax loss harvesting. .

You can also access ESG investing portfolios, real estate investment management, estate planning services, education planning, and various other features. One downside is that you won’t be able to meet with a Facet advisor in person. 

Facet Wealth charges a flat, fixed fee for comprehensive financial planning services and ongoing access to advisors. Unlike other financial advisor firms, Facet doesn’t charge an hourly fee or an asset under management (AUM) fee based on account balances. Rather, you must be a member to open a Facet account. The flat membership fee can cost anywhere from Facet Wealth – Fees Display based on the complexity of your finances.

Financial advisor platforms offer low-cost, diversified investing options, and retirement savings strategies for all kinds of investors. The best online financial advisors implement a holistic, passive investing strategy that focuses on long-term wealth building.

Is Facet Wealth Right for You? 

Facet Wealth – Product Name Only is best for someone who needs comprehensive financial planning and has a medium or high level of assets. Someone with one-off questions or few financial assets may not get the maximum value out of the annual fee and might consider using one of the best robo-advisors that includes free financial planner access.

All comprehensive financial planning is completed virtually — through email, phone calls, video calls, and Facet Wealth’s online portal. If you’d rather meet in person with your financial planner, Facet Wealth isn’t right for you.

Facet Wealth: Overall Rating

FeatureInsider rating (out of 5)Fees3.25Investment selection4.00Access4.00Ethics5.00Customer service4.50Overall score4.18

Facet Wealth Pros and Cons

ProsConsAll advisors are fiduciariesFlat annual feeEasy-to-use online portalPortfolio management and rebalancing featuresShort-term strategy (STS) optionNo additional fee for managing investment assetsFlat fee may be relatively high for someone with few financial assetsNo in-person meetingsOnly manages ETFs

The flat-annual membership fee is based on the complexity of the financial help needed and will not change, even if your financial situation becomes more complicated.

With Facet’s online portal, you’ll be able to share documents with your assigned CFP, book appointments, and keep track of your goals and cash flow.

Facet is now offering a new short-term strategy (STS) option for investments to maintain stability. You can save for short-term goals (one to three years) by investing in select ETFs. Facet’s short-term strategy has an average portfolio yield of 4.7% with an average maturity of 1.6 years.

Is Facet Wealth Trustworthy?

Facet Wealth – Product Name Only currently has an A+ rating with the Better Business Bureau. The BBB primarily evaluates companies based on how well they interact with customers, and it uses a grade scale range of A+ to F when determining its ratings. 

While this suggests that Facet Wealth interacts exceptionally well with its clients, the BBB also states on its website that its ratings don’t guarantee a company’s performance or reliability.

Facet Wealth’s record is clear of any major scandals or lawsuits. 

How to use Facet Wealth

With a Facet Wealth – Product Name Only membership, you’ll get direct access to a CFP for unbiased investing advice and management. Although Facet doesn’t offer brokerage accounts or market access directly, you can still use the firm’s investment management services, ETF portfolios, and investing strategies. 

Facet only manages exchange-traded funds (ETFs). The average expense ratio for its ETF portfolios is 0.08%. The website lists that the average expense ratio of actively managed mutual funds generally falls between 0.05% and 1.0%.

Asset management through Facet also gets you consistent portfolio monitoring and regular reviews, automatic portfolio rebalancing, and tax-loss harvesting.

Financial Planning

Financial planning services from Facet Wealth include:

Retirement planningEstate planningReal estate planningEducation planningInsurance planningFamily planningTax planning

All Facet services provide clients with access to personalized one-on-one advice from a CFP and a team of Facet financial experts for expert insight and ongoing guidance. There are no additional fees to access any of the platform’s services.

Facet Wealth Fees

Facet Wealth’s annual fee ranges from Facet Wealth – Fees Display and is determined after discussing your financial goals and needs during a free initial call with an onboarding specialist. Clients on the low end of the price range are usually young professionals or couples with a growing net worth.

Clients on the high end of the price range typically have complex business assets or estate issues, and multiple high-balance investment accounts.

The fee is fixed and should not change, even if your financial situation becomes more complicated. It can be paid annually, quarterly, or monthly. Because the fee is flat and fixed, it will represent a much higher percentage of assets for someone with a low net worth. 

Facet Wealth — Frequently Asked Questions (FAQs)

Is Facet Wealth a legit company?

Facet Wealth is a legitimate financial planning form. It was founded in 2016 and is headquartered in Baltimore, Maryland, although its advisors are scattered throughout the United States.

Is Facet Wealth too expensive?

Facet Wealth’s pricing model is based on the complexity of your financial situation. People with even the simplest financial situation will pay at least $2,400 per year to use Facet. Therefore, only those needing consistent, ongoing financial guidance over a range of financial topics will get the most out of an account with Facet.

What is Facet Wealth?

Facet Wealth is an online financial planning firm that offers unlimited access to fiduciary advice and guidance across a range of investment and other personal finance topics. You can open an account with a Facet membership, which charges a flat annual fee. 

What is the flat fee for Facet Wealth?

Facet Wealth’s flat fee ranges from Facet Wealth – Fees Display depending on the complexity of your financial situation. 

Is Facet Wealth secure?

Facet Wealth is a secure financial planning firm with an A+ rating from the Better Business Bureau. There are no major lawsuits filed against Facet Wealth.

How Facet Wealth Compares

Facet Wealth vs. SoFi

Facet Wealth – Product Name Only is solely a financial planning firm, whereas SoFi Invest – Product Name Only offers loans and banking products, investment accounts, and career coaching and financial planning. 

If you use any of SoFi’s products, such as its $0 minimum balance automated investing account, you’re able to set up meetings with a financial planner at no cost to help you navigate a specific issue or talk about your overall strategy. SoFi is good for people who don’t have the cash to pay for comprehensive financial planning right now, but still want to make prudent, forward-thinking decisions with their money.

If you’re looking solely for financial guidance and management across a broad range of personal finance topics (such as tax planning, education saving, and retirement planning), you’ll want to consider Facet despite the high annual fee. 

SoFi Invest Review

Facet Wealth vs. Vanguard Personal Advisor Services

The biggest difference between Facet Wealth and Vanguard Personal Advisor Services – Product Name Only is the minimum balance requirement.

You need to have at least Vanguard Personal Advisor Services – Account Minimum in a Vanguard IRA, trust, or other non-retirement investment account to use Vanguard’s Personal Advisor Services. Comprehensive financial planning services and account management are included in the 0.30% annual AUM fee.

Facet Wealth charges at least $2,400 a year for financial planning and investment account management. The benefit of a fixed, flat fee is that you won’t pay more as your balances grow like you do with Vanguard. If you don’t have a Vanguard investment account that counts toward the balance requirement, you won’t be eligible to use its financial planning services.

Facet Wealth is open to anyone who can pay its fee.

Vanguard Personal Advisor Services Review

Related Terms

 

CFPs: Certified Financial Planners are professional financial experts who are regulated by fiduciary duty, which ethically and legally requires advisors to put the best interest of the beneficiary first. ETFs: Exchange-traded funds (ETFs) are a mix of stocks, bonds, commodities, and other securities that can be easily exchanged on the stock market during regular trading hours. ETFs are generally less risky compared to stocks since they represent a collection of multiple securities.Mutual funds: Mutual funds are actively managed investment vehicles with a mix  of various securities like stocks, bonds, and other investments. Mutual funds are typically managers by a professional fund manager. 

Why You Should Trust Us: How We Reviewed Facet Wealth

We examined Facet Wealth – Product Name Only using Personal Finance Insider’s rating methodology for investing platforms to compare and examine account types, pricing, investment options, and overall customer experience when reviewing investing platforms. Platforms are given a rating between 0 to 5. 

Financial planning firms generally offer account flex ability, goal-building strategies, human advisor access, and other resources. Some firms are better for advanced investors with higher net-worth, while others may better suited for beginners. Facet was evaluated with a focus on how it performed in each category.

John Kelly at the White House on June 21, 2018.

AP Photo/Evan Vucci

Kinzinger in his new book wrote of how he witnessed the work that John Kelly was putting in as chief of staff.
The former GOP lawmaker said Kelly spent a lot of time trying to restrain many of Trump’s personal instincts.
“I was surprised by the level of Kelly’s distress,” he wrote. “He clearly suffered from political shell shock.”

Former Rep. Adam Kinzinger said former Trump White House chief of staff John Kelly was once so “exhausted” from his role that he “could barely stay awake” during a private breakfast at 1600 Pennsylvania Avenue.

Kinzinger made the revelation in his newly-released book, “Renegade,” where he spoke of the internal pressures that the retired Marine Corps general and former Homeland Security secretary faced as he sought to bring a sense of stability to a White House that was often guided more by Trump’s personal whims than the counsel of top advisors.

The former Republican lawmaker in his book detailed how Kelly arrived to the breakfast “looking gaunt and exhausted” as he intended to update five GOP lawmakers on developments in Afghanistan.

“It was 8:00 a.m. and he could barely stay awake,” Kinzinger wrote. “He told us he was trying as hard as he could but was ‘barely holding it together.'”

“I was surprised by the level of Kelly’s distress,” he continued. “He clearly suffered from political shell shock.”

Kelly served as chief of staff from July 2017 through January 2019, and Kinzinger in the book stated that the breakfast occurred sometime during the middle of the retired general’s tenure at the White House.

Kinzinger said that Kelly was intended to be a moderating force in the administration, but had to exert energy to combat Trump’s preference to trust his own judgment or the views of those fully aligned with him, which the former congressman said was a goal that Kelly pursued “in vain.”

“The problem with Trump, from a chief of staff’s perspective, was that he preferred to do everything informally and on his own with minimum staff engagement,” Kinzinger wrote. “Consequently, Kelly and others regularly discovered that Trump had considered advice from this crony or that social contact at his Mar-a-Lago resort and was serious about acting on it.”

“The work of diverting Trump’s attention away from terrible ideas and directing him to fulfill his duties obviously took all of Kelly’s energy,” he added.

In October, Kelly in a CNN statement confirmed several claims from a damning 2020 piece published by The Atlantic which alleged that Trump had called fallen US veterans “suckers” and “losers” for having died while at war.

“What can I add that has not already been said?” Kelly said in the statement. “A person that thinks those who defend their country in uniform, or are shot down or seriously wounded in combat, or spend years being tortured as POWs are all ‘suckers’ because ‘there is nothing in it for them.'”

“A person that did not want to be seen in the presence of military amputees because ‘it doesn’t look good for me,'” he continued. “A person who demonstrated open contempt for a Gold Star family — for all Gold Star families — on TV during the 2016 campaign, and rants that our most precious heroes who gave their lives in America’s defense are ‘losers’ and wouldn’t visit their graves in France.”

Kelly was unrelenting in his criticism of Trump as he concluded his statement.

“A person who admires autocrats and murderous dictators,” he said. “A person that has nothing but contempt for our democratic institutions, our Constitution, and the rule of law.”

“There is nothing more that can be said. God help us,” he added.

Trump campaign spokesman Steven Cheung in a statement provided by NBC News at the time said that Kelly “totally clowned himself with these debunked stories he’s made up because he didn’t serve his President well while working as Chief of Staff.”

Our experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

Overall American household debt totals to $17.06 trillion.

Carlina Teteris/Getty Images

The average debt in America is $59,580 across mortgages, auto loans, student loans, and credit cards.
Debt peaks between ages 40 and 49, and the average amount varies widely across the country.
If you’re holding too much debt, consider a debt consolidation loan or seeing a credit counselor.

The average debt in America is $59,580 across mortgage loans, home equity lines of credit, auto loans, credit card debt, student loan debt, and other debts like personal loans. 

Data from the Federal Reserve Bank of New York’s Household Debt and Credit breaks down the average amount of debt Americans have by type, ages, and location. The data was gathered through a random sample of about 5% of Americans with credit report information. Student loan debt was calculated by sampling 1% of the population.

Here’s the average debt in America. 

Average American debt by type of debt

Here’s a breakdown of the total debt amounts as of the second quarter of 2023 and average balances per person from the fourth quarter of 2022, the most up-to-date data available.

Debt typeAverage balance (2022, Q4)Total Balance (2023, Q2)Mortgage debt (Excluding HELOCs)$41,830$12.01 trillionAuto loan$5,470$1.58 trillionCredit card debt$3,480$1.03 trillionStudent loan debt$5,640$1.57 trillionTotal debt$59,580$17.06 trillion

Mortgage debt is most Americans’ largest debt, exceeding other types by a wide margin. Student loans are the next largest type of debt among those listed in the data, followed closely by auto loans. 

It’s also worth noting that overall, the average debt per person has increased steadily over the past few years. In the fourth quarter of 2018, the average total debt per person was $50,090 compared to $55,480 in 2021 and $59,580 in 2022.

Note: Total household debt in the US is $17.06 trillion as of the second quarter of 2023. 

Average American debt by state

Where someone lives tends to have a big influence on the amount of debt they accumulate. 

While some parts of the country have higher housing prices and costs of living, it can be lower in other states. California residents, for example, tend to have higher average mortgage balances than many other states with more affordable housing, like Texas and Ohio. 

Here is the average debt by type for residents of each US state, according to Federal Reserve Board of New York data from the third quarter of 2022. Scroll right to see the total amount of debt.

 

Auto loan debt

Credit card debt

Mortgage debt

Student loan debt

Total debt

Alabama$5,660$4,430$50,310$3,910$67,670Alaska$5,900$2,690$26,840$5,480$44,440Arizona$5,980$2,670$22,810$4,920$39,150Arkansas$6,040$3,530$47,820$5,420$65,600California$5,260$3,870$67,980$4,700$84,730Colorado$5,410$3,940$69,750$6,280$89,170Connecticut$4,170$4,040$47,000$6,410$64,670Delaware$5,600$3,590$43,030$6,440$61,490Florida$6,370$3,940$37,710$5,300$56,600Georgia$6,360$3,630$36,680$7,690$57,570Hawaii$4,130$4,260$64,110$3,910$82,650Idaho$5,520$3,060$46,260$4,840$64,140Illinois$4,740$3,490$35,850$6,050$52,580Indiana$5,150$2,780$29,510$5,180$45,860Iowa$5,030$2,760$30,000$5,210$45,720Kansas$4,580$3,020$27,990$5,600$43,440Kentucky$4,700$2,590$24,500$5,190$40,290Louisiana$6,710$2,880$27,030$5,940$45,830Maine$5,410$2,950$32,310$5,530$49,740Maryland$5,880$4,190$59,400$7,050$80,130Massachusetts$4,150$3,770$56,370$6,360$74,260Michigan$4,780$2,980$28,920$6,070$45,620Minnesota$4,570$3,410$45,080$6,310$62,240Mississippi$5,990$2,450$19,650$6,160$38,130Missouri$4,870$2,890$29,750$5,610$45,910Montana$4,760$3,210$39,020$4,810$55,440North Carolina$5,810$3,250$37,100$5,690$55,370North Dakota$5,930$3,410$33,250$5,470$51,360Nebraska$4,820$3,050$31,830$5,200$47,580New Hampshire$5,980$3,640$43,580$5,940$63,230New Jersey$4,820$4,220$48,120$6,440$66,800New Mexico$6,310$2,870$30,610$4,100$46,710Nevada$6,030$3,860$48,750$4,670$66,020New York$4,230$3,970$39,280$6,090$56,590Ohio$5,180$2,970$26,760$6,320$44,210Oklahoma$6,000$2,830$23,730$4,690$39,830Oregon$4,530$3,240$50,320$5,770$66,950Pennsylvania$4,780$3,330$30,170$6,540$48,300Rhode Island$4,530$3,540$41,260$5,550$58,580South Carolina$5,650$3,160$34,830$6,150$53,410South Dakota$5,150$2,960$32,740$5,330$50,150Tennessee$5,490$2,860$33,830$5,350$51,160Texas$7,610$3,650$34,800$5,330$54,290Utah$6,040$3,340$61,120$4,220$79,240Virginia$5,380$3,960$55,310$6,210$74,110Vermont$5,830$3,140$33,120$6,220$51,170Washington$4,850$3,750$65,490$4,350$82,300Wisconsin$4,410$2,820$31,820$4,950$46,790West Virginia$5,840$2,540$18,640$4,590$34,210Wyoming$5,420$3,260$37,330$3,640$52,900

This analysis excludes medical debt, which tends to fall more heavily on residents in Southern states, many of which did not expand Medicaid. As a result, the average credit score in these states is significantly lower than average credit scores of states outside this region.

Average American debt by age

Debt tends to peak somewhere around middle age. As a whole, this suggests that Americans tend to pay off debt going into retirement and tend to keep debt balances low in retirement, especially people over age 70. For those under age 30, the largest source of debt is mortgages.

The Federal Reserve stopped tracking average debt by age bracket in 2017, though it still tracks total debt by age. To find our averages, we divided the total debt by age with the number of people in each age group using the most recent population data from Marketing Charts, which reflects the U.S. population as of July of 2021.

It’s worth noting that this calculation spreads the debt load over the entire age group, not just the members of that group with that type of debt. The average debt per person will be higher if you only count debt holders.

For example, the data shows that the average person between 18-29 years old holds $70 of HELOC debt, which is likely due to low homeownership rates within that demographic. According to Statista, only 39.3% of Americans under age 35 owned homes, while 62.5% of Americans aged 35 to 44 years old owned homes in the third quarter of 2022. 

Here’s how the average debt balance breaks down per person by age group. Scroll right to see more data. 

 

Age 18-29

Age 30-39

Age 40-49

Age 50-59

Age 60-69

Age 70 and up

Auto loan debt$4,051$7,984$8,971$7,468$4,921$2,600Credit card debt$1,462$4,110$5,373$5,085$4,189$3,236Mortgage debt$11,111$58,456$77,630$63,945$44,865$27,100HELOC debt$70$592$1,625$2,095$2,087$1,791Student loan debt$6,757$11,085$8,663$5,563$2,743$790Other debt$699$1,996$2,959$2,837$2,191$1,344Total$24,142$84,225$105,219$86,994$61,014$36,846

How to start paying off debt

Holding large amounts of debt, especially high-interest debt, can quickly get expensive.

Large amounts of debt can also lower your credit score by raising your credit utilization ratio or simply by causing you to miss a payment here and there, resulting in a delinquency on your credit report. As of the second quarter of 2023, the delinquency rate on credit card loans is at 2.77%, which is the highest they’ve been since 2012.

Choose a repayment method and set a goal

Whichever method you choose, the first step is going to be to take stock of everything you owe, how much you owe in total, and the interest rate. Then, you can start to prioritize what you owe. 

Two popular strategies are the debt avalanche and the debt snowball. The debt snowball tackles the smallest debt first to build momentum, working through bigger debts next, while the debt avalanche focuses on paying down higher-interest debt first to decrease the amount you pay overall. Depending on how your debt looks, these repayment methods can help you pay off debt fast.

Consider consolidating or refinancing while interest rates are low

For borrowers with credit card debt and other relatively small debts with high interest rates, consolidating your debts could make them more manageable. Debt consolidation is a process where you take out one large loan to pay off all your smaller loans, effectively condensing them into one larger total. You can also consolidate credit card debt with a balance transfer card. The best debt consolidation loans will have a lower interest rate.

You can also consolidate credit card debt with a balance transfer card. Like consolidation loans, the best balance transfer credit cards will have a lower interest rate, but will also come with an introductory 0% APR period that usually lasts 12-18 months. 

Debt relief plans

If you need outside help with your debts, it may be worth your time to look into debt relief options. There are several options available to you, each of which differs in how it helps you pay off your debt and the urgency of your debt problem.

You can enlist the help of a nonprofit credit counseling organization, which will help you sort out your finances and pay off your debts. In extenuating circumstances, they may even recommend a debt management plan in which your credit counselor negotiates the terms of your loans with your creditors on your behalf. They can secure lower interest rates or lower monthly payments, though they usually won’t be able to lower the actual amount of money you owe. 

For more dire debt problems, a debt settlement plan will reduce your overall debt amount. While this will hurt your credit score, you may be able to reduce your debt by upt to 60%. While you can negotiate a debt settlement on your own, most people hire debt settlement companies to negotiate on their behalf. You can find our guide to the best debt settlement companies here.

Average debt frequently asked questions (FAQ)

How much total debt do Americans owe?

The total household debt in the second quarter of 2023 is $17.06 trillion.

What is considered high-interest debt?

There is no official threshold where debt becomes high-interest debt. Unofficially, any debts that have a higher interest than mortgages or student loans is considered high-interest. The federal student loan interest rate is 4.99% while the average mortgage interest rate in 2023 is 6%. 

How much debt does the average 30-year-old have?

The average 30-year-old has approximately $84,000 of debt, concentrated between student loans and mortgages. Consumers betwee 30-39 years old hold $3.75 trillion in debt.

Photo Illustration by Luis G. Rendon/The Daily Beast/Handout

A woman in Ohio who worked at AT&T for more than 30 years has filed a lawsuit against the telecommunications company, accusing it of discriminatory retaliation after she says she was fired for reporting a “racist, misogynistic” threat she received that called her the N-word.

Stacey Fowler, 53, launched a legal battle on Sept. 28 with AT&T, its Midwest division, and AT&T subsidiary Ohio Bell Telephone Company for their “abhorrent and shocking conduct,” the complaint says.

“AT&T did not treat the vicious and vile, racist and misogynistic Death Threat that Fowler reported with any urgency or gravity,” the lawsuit alleges.

Read more at The Daily Beast.

Roy Rochlin/Getty Images for Tribeca Festival

Actor Robert De Niro erupted on the witness stand on Tuesday, forcefully chastising his former personal assistant who’s suing him for allegedly being an abusive boss.

“Shame on you, Chase Robinson!” the Oscar-winning actor shouted across the packed Manhattan federal courtroom to his former employee, Graham Chase Robinson. The outburst came after Robinson’s lawyer asked De Niro whether he’d ever audibly urinated while on the phone with his executive assistant.

“Give me a break with this stuff. You got us all here for this?” he added, according to Deadline. “I don’t take liberties with people who work for me.”

Read more at The Daily Beast.

Glassdoor

The Education Department fined for-profit Grand Canyon University $37 million over accusations of misleading behavior.It said Grand Canyon mispresented the costs of its doctoral programs, leading to high student debt.Grand Canyon denied all of the department’s allegations.

A major for-profit school just got hit with a fine over accusations of misleading thousands of its students.

On Tuesday, President Joe Biden’s Education Department announced it has fined Grand Canyon University $37.7 million following a Federal Student Aid investigation that accused the school of lying to over 7,500 former and current students over the costs of its doctoral programs.

A senior department official told reporters on a Tuesday press call that this is the largest penalty the Education Department has ever enforced on a school.

“GCU lied about the cost of its doctoral programs to attract students to enroll,” FSA Chief Operating Officer Richard Cordray said in a statement. “FSA takes its oversight responsibilities seriously. GCU’s lies harmed students, broke their trust, and led to unexpectedly high levels of student debt.”

According to Federal Student Aid, GCU stated that its doctoral programs cost between $40,000 and $49,000, when in reality, students ended up paying roughly 25% more than the school advertised. The Education Department said that in response, GCU pointed to the fine print in its enrollment agreements to justify the discrepancies, but the department said those disclosures are “insufficient to cure the substantial misrepresentations regarding cost.”

GCU said in a statement provided to Insider that it “categorically denies every accusation in the Department of Education’s statement and will take all measures necessary to defend itself from these false accusations.”

“The Department’s claims of wanting to protect students from ‘unexpectedly high levels of debt’ at GCU are false given that our graduates incur less debt than the national average, and far less than other private universities,” the statement continued. “Rather than the Department protecting students, we are being forced to protect our students from this targeted and unwarranted government overreach.”

GCU has 20 days to request a hearing on the fine or submit written material indicating why the fine should not be imposed. Along with the fine, the department is also enforcing specific conditions on the school to allow it to continue participating in federal student aid programs, including a requirement to inform students of the average total tuition and fees paid by graduates.

A department official also noted to reporters on the press call that while this fine is an enforcement action against the school, borrowers who believe they were defrauded can also submit borrower defense claims for student-debt relief. The department has taken action numerous times over the past year to provide relief to borrowers it says were defrauded, including $37 million to former University of Phoenix students.

“Deceptive for-profit graduate programs are a large and growing part of America’s higher education crisis,” Aaron Ament, president of borrower protection group Student Defense said in a statement.

“When colleges lie to students, it costs them time and money they’ll never get back,” he said. “We’re glad to see the Department of Education take action to prevent graduate schools from misleading students about the costs of their programs, and we hope they will continue to crack down on these types of predatory schemes.”

Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

The bottom line: You might like one of TD Bank‘s three primary checking accounts if you prefer banking face-to-face and live near a branch along the East Coast. But if your main priorities are low monthly fees and good interest rates, you might prefer one of the best checking accounts with an online bank.

TD Bank Checking Accounts Overview

 TD SimpleTD ConvenienceTD BeyondMinimum opening depositTD Bank Simple Checking Account – Minimum DepositTD Bank Convenience Checking Account – Minimum DepositTD Bank Beyond Checking Account – Minimum DepositInterest earnedTD Bank Simple Checking Account – APYNone0.01% – 0.03% APY Annual Percentage Yield (APY)Monthly service feeTD Bank Simple Checking Account – Fees Display; cannot be waivedTD Bank Convenience Checking Account – Fees Display; can be waivedTD Bank Beyond Checking Account – Fees Display; can be waivedOut-of-network ATM fee$3$3$0; refunds provider fees if your balance is $2,500Cash bonus for new customersTD Bank Simple Checking Account – Intro BonusTD Bank Convenience Checking Account – Ongoing BonusTD Bank Beyond Checking Account – Ongoing Bonus TD Bank Simple Checking Account – CTA TextTD Bank Convenience Checking Account – CTA TextTD Bank Beyond Checking Account – CTA Text

TD Bank Simple Checking Account – Product Name Only Review

The TD Bank Simple Checking Account – Product Name Only might be a decent choice if you don’t want to worry about minimum balance requirements. However, the biggest downside to this account is that the monthly service fee can’t be waived. You’ll prefer one of TD Bank’s other checking accounts if you want the option to waive monthly service fees.

TD Bank Convenience Checking Account – Product Name Only Review

The TD Bank Convenience Checking Account – Product Name Only is the bank’s most popular option. It’s a good choice if you meet with of the requirements to waive the TD Bank Convenience Checking Account – Fees Display — you’ll have to maintain a daily balance of at least $100 or the fee is automatically waived if you’re between the ages of 17 and 23.

You also might like this account if you’re looking to open a new checking account with a cash bonus. The TD Bank Convenience Checking Account offers a TD Bank Convenience Checking Account – Intro Bonus. This cash bonus is being offered until November 30, 2023.

TD Bank Beyond Checking Account – Product Name Only Review

The TD Bank Beyond Checking Account – Product Name Only might be worth exploring if you regularly maintain a minimum daily balance of at least $2,500 or receive monthly direct deposits of $5,000 or more. That way, you’ll waive the TD Bank Beyond Checking Account – Fees Display. You can also waive the fee by maintaining $25,000 or more across all your TD Bank accounts, home equity loans, and home equity line of credit accounts, or mortgage.

This account offers several perks like no ATM fees and two free overdraft fee reimbursements per year. TD Bank also offers a cash bonus of TD Bank Beyond Checking Account – Intro Bonus. This cash bonus is also featured in our best bank account bonuses guide and is being offered until November 30, 2023.

About TD Bank

TD Bank has over 1,100 branches and 2,600 ATMs along the East Coast. It also ranks as one of Insider’s best national banks.

TD Bank charges a $35 overdraft fee, up to three times per day. However, the bank also has several overdraft protection services to help you avoid overdraft fees. With Grace Period, TD will refund overdraft fees when you restore your account balance to at least $0 by 11 p.m. ET the next business day. You can also link your checking account to your savings account to cover overdrafts. In 2022, TD Bank eliminated the fee for overdraft account transfers.

You can speak with a live customer support representative 24/7. Many branch locations are also open seven days per week if you want to speak to someone in person.

The mobile app has received positive reviews, with 4.8 out of 5 stars in the Apple store and 4.3 out of 5 stars in the Google Play store.

Your deposits are FDIC insured for up to $250,000, or $500,000 for joint accounts.

Is TD Bank trustworthy?

The Better Business Bureau grades companies based on how they deal with customer issues. The BBB has given TD Bank an A+ rating.

TD Bank has been involved in recent public controversies. In 2020, the US Bureau of Consumer Financial Protection required TD Bank to pay $122 million in a settlement that accused the bank of charging customers a Debit Card Advance service without their permission. In 2023, the bank also had to pay $1.2 billion in a settlement that claimed the bank was involved in a Ponzi scheme started by Robert Allen Stanford, the former chairman of Stanford International Bank. TD Bank provided correspondent banking services to Stanford International Bank.

TD Bank Checking FAQs

Does TD Bank have a free checking account?

TD Bank doesn’t have a fee-free checking account. However, you may be able to waive the monthly service fee on the TD Bank Convenience Checking Account or TD Bank Beyond Checking Account if you meet certain requirements.

How much money do I need to open a TD Bank checking account?

You can open a TD Bank checking account with TD Bank Simple Checking Account – Minimum Deposit.

What do I need to get a TD Bank account?

To open a bank account, you’ll need to provide a US ID and Social Security number to verify your identity. You can open an account online or at a branch.

Methodology: How We Reviewed TD Bank Checking Accounts

For our TD Bank Checking Accounts review, we used our checking account methodology. At Personal Finance Insider, we rate products on a scale from zero to five stars.  We also compare and contrast the features and fine print of various products to help determine if the account may be right for you. Our checking methodology, specifically, takes into account the minimum opening deposit, monthly service fees, overdraft protection options, ATM network/fees, customer support availability, mobile app ratings, and ethics of a company.

How TD Bank Checking Accounts Compare

We’ve compared TD Bank checking accounts with accounts at two other big-name banks along the East Coast: Bank of America and Citizens Bank.

TD Bank vs. Bank of America

If you don’t have money to open a checking account, you’ll probably prefer TD Bank. At Bank of America, you’ll have to deposit anywhere from $25 to Bank of America Advantage Plus Checking Account – Minimum Deposit. TD Bank lets you open a checking account with TD Bank Simple Checking Account – Minimum Deposit minimum opening deposit. 

You’ll also prefer TD Bank to other institutions if you’d like to get 24/7 customer service. Bank of America customer support is available over the phone during select hours on weekdays and weekends.

TD Bank vs. Citizens Bank 

If you’d like to open a checking account with a low initial deposit, TD Bank and Citizens Bank have good options. Both banks let you open a checking account with no minimum opening deposit. 

The best choice for you may ultimately depend on where you live. TD Bank has branches in North Carolina and South Carolina Citizens Bank doesn’t have locations in these states, but it does have locations in Michigan and Ohio where there aren’t any TD branches.  

Citizens Bank also might be more appealing if you frequently use ATMs. Citizens Bank has over 3,100 ATMs while TD Bank has around 2,600 ATMs.

You might prefer another financial institution if you’re priority is the avoid overdraft fees, though. While TD Bank and Citizens Bank have free overdraft services to help minimize overdraft fees, there are several banks that have completely eliminated overdraft fees on accounts. You can find options in our best banks for avoiding overdraft fees guide.

Our experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

Average credit scores are at record highs.

Johner Images/Getty Images

The average credit score in the US is a 714 FICO score and 701 VantageScore, considered a “good” credit score.
Gen Z (18-25) has the lowest average credit score at 679, while the Silent Generation (77+) has the highest at 760.
Minnesota had the highest average credit score at 742, while Mississippi had the lowest average at 680.

The average credit score in the US is a 714, based on FICO credit score data provided by credit reporting company Experian. The average VantageScore is 701. Credit scores, which are like a grade for your borrowing history, fall in the range of 300 to 850. The higher your score, the better.

People with higher credit scores tend to qualify for better interest rates on borrowed money, have access to the best credit cards, and can even pay less for insurance. You’ll also have an easier time applying for an apartment rental. You can subscribe to a credit monitoring service to help you keep track of your credit score and your credit reports. The best credit monitoring services are even free.

The FICO model of credit scoring puts credit scores into six categories:

Very poor: 300-579Poor: 580-669Fair: 601-660Good: 670-739Very good: 740-799Exceptional: 800-850

Based on this scoring system, the average American has a good credit score. But, average credit scores varies by location and age.

Average credit score by age

The average credit score looks very different between age groups. As credit scores are calculated on credit and borrowing history, older people have higher credit scores on average due to a more extensive borrowing history. Meanwhile Gen Z lags behind because they’ve had less time to build credit, and many members of Gen Z simply aren’t old enough to have a credit score. Here’s how it breaks down by age group, according to data from Experian:

GenerationAverage credit score (FICO) in 2022Generation Z (18-25)680Millennials (26-41)690Generation X (42-57)709Baby boomers (58-76)745Silent generation (77+)761

Average credit score by state

Finances look very different across all 50 states, and the average credit score looks pretty different, too. While Mississippi has the lowest average credit score at 680, Minnesota has the highest credit score at 742. Here’s the average credit score in each US state and the District of Columbia as of 2022, according to data from Experian.

StateAverage credit score (FICO) in 2022Alabama691Alaska723Arizona712Arkansas694California721Colorado730Connecticut725Delaware714District Of Columbia716Florida707Georgia694Hawaii732Idaho727Illinois719Indiana712Iowa729Kansas721Kentucky702Louisiana689Maine728Maryland716Massachusetts732Michigan718Minnesota742Mississippi680Missouri712Montana731Nebraska731Nevada702New Hampshire734New Jersey724New Mexico699New York721North Carolina707North Dakota733Ohio715Oklahoma693Oregon732Pennsylvania723Rhode Island723South Carolina696South Dakota734Tennessee702Texas693Utah730Vermont736Virginia721Washington735West Virginia700Wisconsin735Wyoming723

Note: Of all the state credit score averages, Southern states tend to do worse than other regions of the country.

Average credit score by year

Americans have more consumer debt than ever before, holding an average debt of $59,580 and a total of $17.06 trillion in 2023. Despite historic levels of debt, the average credit score continues to rise. Americans actually have better credit than ever.

The average score has increased by about 10 points in the past seven years. Here’s how it’s risen, according to FICO data from October of each year:

YearAverage credit score (FICO) by year20126892013690201469420156962016699201770120187052019702202071020217142022714

The period spanning from June 2009 until early 2020 became America’s longest-running period of economic expansion, which ended due to the brief, pandemic-induced recession. This extended period of growth yielded low unemployment rates. This could have contributed to America’s rising credit scores, with more people possessing the means to pay back debt on time. 

Credit scores have also risen, in part, due to the amount of information available on the credit industry and how to raise your credit score. There is also an abundance of credit-builder products available that widen accessibility, boosting the average credit score over time. The best credit builder accounts don’t require a credit check or a credit score. Some credit builder products come straight from the credit bureaus themselves, such as Experian Boost, which reports regular payments like utility bills and streaming service subscription fees.

How are credit scores used?

Credit scores are calculated using information about your borrowing, like your credit utilization ratio, the number and types of accounts you have open, and your repayment history. All of that information is drawn from your credit report, which has a detailed borrowing history.

Everyone has credit scores based on data gathered by the three major credit bureaus: Experian, Equifax, and TransUnion. There are two main credit scoring algorithms, known as FICO and VantageScore. While each one uses a slightly different calculation, your scores should generally be within a similar range.

Keeping track of these scores is crucial if you want to build credit. You should never be paying to view your credit score. You can usually access your scores for free through your lender or financial institution. You can also access your credit score free online from sites like Credit Karma. 

It’s a good idea to check your credit report regularly, too. You can get three free credit reports per week, one from each credit bureau, which you can access through AnnualCreditReport.com. You can check them all at once or ration your credit reports throughout the year. It’s not uncommon for a report to contain an error affecting your score, but it’s up to you to find any such error. If you do find one, you can dispute your credit report with the agency.

How to improve your credit score

Your credit scores play a big role in your financial freedom. It figures into everything from qualifying for a mortgage or credit card to the rate you pay on your auto insurance. Bad credit can make your life difficult. But there are always things you can do to improve your credit score, including:

Making all your loan, credit card, and other monthly payments on time is essentialPay off debts and bring past due accounts currentPay your credit card balances in full each monthAvoid applying for new credit unless you really need itKeep unused credit accounts open

If you don’t have any credit history, it becomes challenging to borrow, making it hard to build a credit history. That’s why some credit card issuers provide specific secured credit cards for people to use temporarily to build credit from scratch. You can also see our picks for the best starter credit cards here.

You can also use a credit-builder product, like a debit card that reports payments to the credit bureaus or a credit-builder loan, to build a credit history. The best credit builder accounts don’t require a credit history, so you can qualify even if you’ve never borrowed money before. 

Average credit score frequently asked questions

What percent of the population has a good credit score?

75.8% of consumers have a FICO credit score above a 650.

Why are average credit scores increasing over time?

Average credit scores are increasing partially due to the amount of educational resources available. Credit-building products have also been created to increase credit accessibility. 

What generation has the lowest credit score?

On average, Gen Z has the lowest credit score, though Gen Z also has the least amount of time to build their credit history.

Our experts answer readers’ insurance questions and write unbiased product reviews (here’s how we assess insurance products). In some cases, we receive a commission from our partners; however, our opinions are our own.

Life insurance is a great way to care for your family’s short-term needs once you’re gone. In the right circumstances, it can also be a retirement tool and build generational wealth for your descendants. Compare cheap life insurance options that fit your budget below. 

Cheapest Life Insurance Companies

Ethos Life: Best for Guaranteed CoverageHaven Life: Best for Term LifeState Farm Life Insurance: Best for Customer SatisfactionGuardian Life Insurance: Best for Preexisting ConditionsNew York Life Insurance: Best for Whole LifeNorthwestern Mutual Life: Best for Customized CoverageUSAA Life Insurance: Best for Military and VeteransTransamerica Life Insurance: Best for Foreign Nationals

Estimate Your Life Insurance Rate

Estimate your life insurance cost and request a quote from Policygenius.

Cheap Life Insurance Policies

Whatever your goals, applying for a life insurance policy in your 20s gives you a greater chance of being accepted and more affordable premiums. But we’ve identified the best cheap coverage for buyers of all ages from the best life insurance companies.

State Farm Life Insurance

State Farm Life Insurance – Product Name Only took the top spot in the most recent JD Power US Life Insurance Study – Product Name Only. Its agents are well versed in its auto, home, life, and other insurance products, quoting with all applicable discounts, claims management, and more. State Farm sells several types of whole life policies ranging from a single premium option (for immediate protection) to a whole life policy with fixed payments. Adults between 50 and 80 may also qualify for a final expense policy with a $10,000 death benefit.

State Farm Life Insurance operates in all states except Massachusetts, New York, and Wisconsin. State Farm Life and Accident Assurance Company offers similar life insurance policies in New York and Wisconsin. Wherever you are within the US, quoting is easy, especially if you’re already a customer.

State Farm Life Insurance Review

Guardian Life Insurance

Guardian Life Insurance – Product Name Only offers easy online quotes in minutes with no insurance agent required. In addition, the company offers term policies as short as 10 years and as long as 30 years. It also provides whole, universal, and other life insurance products.

What sets Guardian Life apart from other life insurance companies is its unique HIV life insurance. Of course, conditions apply, such as a two-year history of antiretroviral therapy, no AIDS-defining illnesses, and an undetectable HIV viral load. Recently, the company has expanded this program to allow buyers up to age 65. Buyers with a history of IV drug use also have more flexibility as the company can offer coverage after seven years instead of the previous 10 years. The HIV plan is just one of the innovative life insurance products offered by a select few life insurance providers, including Guardian Life.

Guardian Life Insurance Review

Ethos Life Insurance

Ethos Life – Product Name Only is known for its efforts to work with difficult-to-insure populations. The company offers easy online quotes and term and permanent life insurance options. It also has guaranteed issue policies, meaning guaranteed acceptance if you fall between predefined age limits. At this time, all guaranteed issue policies with Ethos are whole life policies. While some companies may offer no medical exam term life insurance, issuance requires underwriter review.

Ethos’ guaranteed coverage plans can offer death benefits up to $25,000 for applicants between 65 and 85. Guaranteed plans primarily cover funerals and other final expenses. If you’re seeking a higher death benefit, Ethos offers whole, term, and no medical exam policies. Its monthly premiums start at just $7 per month, but interested customers should get a quote on their preferred life insurance plan to nail down exact premiums.

Ethos Life Insurance Review

Haven Life Insurance

Haven Life – Product Name Only offers coverage ranging from $25,000 to $3 million for qualified applicants. Many plans don’t require a medical exam, and term policies are available with terms of 5 to 30 years. Haven Term and Haven Simple can both be purchased online, the difference being Haven Simple requires no medical exam.

One thing sets Haven Life apart from other insurance companies selling term policies. Haven Life customers can add an accelerated death benefit rider to term policies. While the policy would eventually expire, policyholders can withdraw 75% of the total death benefit or $250,000 when they need it most.

The term life insurance market is full of stories of buyers unable to convert term policies before death. Policies expire before they die, leaving loved ones with six-figure medical debts and no death benefit. Haven Life offers a happy medium to protect you in the worst-case scenario.

Haven Life Insurance Review

New York Life Insurance

New York Life Insurance – Product Name Only specializes in multi-million dollar investment policies great for retirement planning with term, whole, and universal life insurance options. However, it does not provide online quotes. In addition, New York Life insurance agents complete extensive training to answer all questions about its policies and help buyers identify the right policy. New York Life agents can add riders to customize plans to meet your needs. Even with some of its smaller policies, policyholders may earn dividends.

New York Life Insurance Review

Northwestern Mutual Life Insurance

Northwestern Mutual Life – Product Name Only temporarily unseated State Farm as the top life insurance company in customer satisfaction. While it may not top JD Power’s rankings currently, the company continues to offer easy quoting, strong customer service, and a streamlined process overall. Northwestern Mutual also allows buyers to utilize diverse riders to customize plans to meet their needs.

Adding a rider to protect your life insurance benefits if you’re sick and can’t make payments is just one of the affordable life insurance riders offered by Northwestern Mutual. Working with a qualified life insurance agent is the best way to ensure you can customize your plan to meet your needs.

Northwestern Mutual Life Insurance Review

USAA Life Insurance

USAA Life Insurance – Product Name Only is available to buyers with no connection to the military, though USAA as a whole has become synonymous with financial services for veterans. What makes it unique is its life insurance policies are open to active-duty military members. Outside of SGLI (servicemember’s group life insurance), many life insurance companies restrict coverage for military members in specific ways. SGLI may be generous while you’re involved with the military. But once you separate, the coverage would no longer be available.

USAA offers whole life insurance policies with expedited coverage for deployed soldiers. It also provides severe injury benefits and coverage for wartime. One key selling point for veterans is USAA guarantees SGLI replacement when separating from the military.

USAA Life Insurance Review

Transamerica Life Insurance

Transamerica Life Insurance – Product Name Only (AEGON) offers life insurance limits of up to $10 million with many universal life insurance policies and other permanent options. Visa holders can also buy plans with Transamerica. When evaluating your risk class, some restrictions may apply depending on the country of origin.

Transamerica has decades of history in the life insurance market. It also reports faster underwriting and processing times than its competitors. If you’re interested in life insurance with Transamerica, we recommend contacting an agent. It offers limited quotes online, but many of the best policies are only sold through licensed insurance agents.

Transamerica Life Insurance Review

Cheap Life Insurance Frequently Asked Questions

What is the cheapest form of life insurance?

Term life insurance is generally the cheapest type of life insurance, but it’s the cheapest for a reason: It expires after a set term. You can buy a 30-year term life insurance policy, but if you outlive the policy, your relatives won’t receive any payout when you die.

How much is life insurance a month?

The average cost of life insurance is $40-$55 a month. Keep in mind that your monthly premium will vary depending on the type of policy you purchase and how much coverage you select.

What is the cheapest life insurance that has no cash value?

The cheapest life insurance with no cash value is term life insurance. Term life insurance policies only last for a set amount of time (usually 10 to 30 years) and they don’t accrue any cash value like whole life policies do.

How can I get cheap life insurance?

To get cheap life insurance, consider working with an insurance agent who can help you balance your need for affordable premiums with adequate coverage. While term policies are the cheapest, that might not be the best option for your situation.

Is life insurance affordable?

Life insurance is affordable, with monthly premiums averaging about $50. You’ll save money the earlier you buy a life insurance policy as well, so it may be worth buying a policy for yourself or a loved one while they’re still young.

How to Pick a Life Insurance Policy that Fits Your Budget

We recommend starting with online research if you want a life insurance plan. You can get quotes online if you want a plan to cover funerals and other limited costs. But first, decide what you want your life insurance plan to do, how much you can afford to spend each month, etc.

Next, we recommend talking to at least one licensed insurance agent. Some of the best life insurance products can only be quoted or sold through a licensed insurance agent. Ask questions about the things you don’t understand. Let an agent help you calculate the ideal benefit for your needs. Ask which riders customers add to the policies you’re looking at, and compare three life insurance quotes.

Why You Should Trust Us: How We Chose the Cheapest Life Insurance

We look beyond the obvious factors like online quote calculators and affordable pricing to see what life insurance companies offer. Our life insurance ratings methodology reflects aspects including:

Customer satisfaction (as rated by JD Power)Financial stability (as rated by AM Best)Policy types offeredAverage monthly premiums/affordabilityWaiting periods required for complete life insurance benefitsExclusions that would prevent you from getting life insurance with the company being reviewedWhat you can expect from life insurance agents who quote a company’s policiesHow available are a company’s life insurance products? (is it licensed to sell life insurance in all 50 states and Washington, DC?)How ethical company practices are measured by recent controversies, charitable activities or donations, etc.

Compare Cheap Life Insurance Policy Options

Lucas Jackson/Reuters

US stocks edged higher on Tuesday as investors prepare for the Federal Reserve’s next interest rate decision.Fed Chairman Jerome Powell is expected to make no changes during Wednesday’s FOMC meeting.Stocks ended October lower, representing the first three-month losing streak since early 2020.

US stocks edged higher on Tuesday but ended the month of October lower, representing the third consecutive monthly loss.

The last time the S&P 500 and Dow Jones Industrial Average suffered a three-month slump was in March 2020, during the onset of the COVID-19 pandemic.

Investors were also awaiting the Federal Reserve’s rate decision Wednesday afternoon and Chairman Jerome Powell’s press conference.

The market expects the Fed to keep rates unchanged and sees no more hikes this cycle with at least two rate cuts by the end of next year.

Investors continue to digest a wave of third-quarter earnings. More than half of the S&P 500 has reported, and about 78% of those companies beat profit estimates by a median of 6%, while 62% beat revenue estimates by a median of 2%, according to data from Fundstrat.

Here’s where US indexes stood at the 4:00 p.m. closing bell on Tuesday: 

S&P 500: 4,193.80, up 0.65%Dow Jones Industrial Average: 33,052.87, up 0.38% (123.91 points)Nasdaq Composite: 12,851.24, up 0.48%

Here’s what else is going on today: 

Stanley Druckenmiller said Treasury Secretary Janet Yellen made the worst mistake in the US Treasury’s history by not issuing long-term debt when interest rates were so low. Housing affordability has plunged to the lowest level since 1985 as prospective homebuyers grapple with high mortgage rates and low housing inventory.Bitcoin is set to rocket to $150,000 by the middle of 2025 as the world’s largest cryptocurrency begins a new cycle, Bernstein said.

In commodities, bonds, and crypto: 

West Texas Intermediate crude oil fell 1.32% to $81.22 a barrel. Brent crude, the international benchmark, dropped 1.23% to $85.29 a barrel. Gold declined 0.58% to $1,994.00 per ounce. The 10-year Treasury yield was flat at 4.89%.Bitcoin rose 0.01% to $34,496. 

A recent report found a growing disconnect between the two C-suite positions.