The Best Credit Cards for Women: How To Choose the Right One for You

There are so many different credit cards on the market, and it can be difficult to determine which one is right for you.

However, as women we absolutely should not be afraid when it comes to getting a credit card and using it responsibly.

In fact, new research shows, we make better decisions with our credit cards than men.  A recent Lantern by Sofi study showed sixty-five percent of women named credit building as their top reason to apply for a new credit card, compared to 51% of men.

Experian data also shows men and women's credit scores, on average, are about the same.  This despite having a gender wage gap of 83 cents for full-time, year-round workers!

Which Card is Best For You?

So which credit card is best for you?

Whether you're looking for the best credit card for building credit, a card with low interest rates or one that offers cash back rewards, we've got you covered!

First Things First: Your Spending Habits and Financial Goals

When it comes to choosing a credit card, it's important to consider your spending habits and financial goals. If you're someone who carries a balance on your credit card from month to month, you'll want to find a card with low interest rates.

On the other hand, if you always pay off your balance in full, you may be more interested in a card that offers rewards like cash back or points.

Ask Yourself These Questions

Do you want a card that earns you points for purchases?

Go through your last six months of bank statements or receipts, and recognize what you would use a credit card to purchase most often.

Is it travel? Would you benefit from a card that offers rewards points or statement credit for tickets, car rentals, hotels, or other travel related purchases?

What about drugstore purchases and dining?

Are you a student? Could you use student cash back?

Do you have a big purchase you want to make immediately, like a wedding? Could you benefit from a sign-up bonus?

Are you looking to balance transfer from another card?

Are you shopping frequently on amazon.com, grocery stores, or restaurants?
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Are you frequently ordering takeout or eligible delivery?
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Important Factors to Consider When Choosing a Credit Card

Once you've considered your spending habits and financial goals, it's time to compare credit cards. When doing so, be sure to pay attention to the following:

Annual Fees

Some credit cards come with an annual fee, while others do not. You may be willing to pay an annual fee in exchange for rewards like cash back or points. Some annual fees pay for themselves by offering benefits that exceed the amount of the annual payment.

Before jumping the gun and choosing a card with an annual fee, ask yourself if you are already using the benefits. Benefits can be things like rideshare credits, phone bill credits, TSA PreCheck, Clear or Global Entry credits, or hotel and airline credits. 

Interest Rate

This is the rate you'll be charged if you don't pay off your balance in full each month. If you're someone who carries a balance on your credit card, you'll want to find a card with a low interest rate or, even better 0% introductory APR. 

Rewards

Some credit cards offer rewards like cash back or points. If you're someone who pays off their balance in full each month, you may be interested in a card that offers rewards.

Best Credit Cards For Women

Now that you know what to look for in a credit card, let's take a look at some of the best types of credit cards for women.

Are You Looking to Repair Credit?
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Do you need a card to help you build credit or repair credit? 

A secured credit card may be the way to go.

A secured credit card is a credit card that is backed by a deposit you make. For example, if you have a $500 credit limit, you may be required to make a $500 deposit. The payments are reported to the three major credit bureaus and can help you build your credit score. 

This deposit acts as collateral in case you default on your payments. 

Petal 2 Cash Back, No Fees Visa

The Petal 2 Cash Back, No Fees Visa is a good option for those who are just starting to build credit. There are no annual fees or foreign transaction fees, and you can earn up to 20% cash back on certain purchases.

This card runs on the Visa network, so you can use it anywhere Visa is accepted.

Eligible purchases earn a 1% cash back reward.

Make payments on time and you could start earning 1.5% cash back.
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Additionally, there is no minimum credit score required to qualify for this card.

Discover It Secured Credit Card

The Discover It Secured Credit is one of the best credit cards for building credit. If you are just starting to build credit or have bad credit, this card may be for you.

You can earn 2% cash back at gas stations and restaurants. There is unlimited 1% cash back on all other purchases, automatically.

There are no annual fees.

Additionally, there is no minimum credit score required to qualify for this card.

There is a 23.24% variable APR.

After you spend the first seven months building credit, there is an automatic review to see if you can transition to an unsecured line of credit and have your deposit returned.

Authentic reviews on discover.com mention challenges with service.

One user complained that the "payment due date was changed" after making payments early. Another mentioned customer service challenges and difficulty disputing charges.

Busy Mom?

"Citi Thankyou Premier Card

The Citi Thankyou Premier Card is great for moms who know that childcare expenses can quickly add up. The Citi Thankyou Premier Card lets you earn triple points on gas station, restaurant, and grocery store purchases (up to $6000 per year), as well as double points on airfare and hotels booked through the Citi ThankYou Travel Center. You also get a point for every dollar spent elsewhere.
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"Moms who are looking to earn great rewards on childcare expenses, gas, and groceries will greatly benefit from the Citi Thankyou Premier card, if they like to use points and miles for travel. The card earns 3x on gas, 3x on groceries, 3x on restaurants, and 3x on airfare and travel. It also only has an annual fee of $95," John Garner, CEO & Co-Founder of Card Curator tells FundsSavvy.com.

The Citi Thankyou Premier Card comes with a sign up bonus of 50,000 points after you spend $4000 in the first three months and it has no foreign transaction fees. The only downside is that it doesn't have any sort of 0% APR period.

Citi Double Cash Card

The Citi Double Cash Card is a credit card with cash back and points rewards.

If you're looking for a simple way to earn cash back, the Citi Double Cash Card is a great option. You'll earn two percent cash back on all purchases - one percent when you make the purchase, and another percent when you pay it off.

You can find cards with higher rewards, but the Citi Double Cash Card is fairly easy to use to get rewards.
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There is also a balance transfer option with 0% intro APR for the first 18 months. After the initial 18 months, the standard variable APR will be 14.74% to 24.74%. The APR is determined using creditworthiness.

Are You a Student?

​Bank of America Cash Rewards for Students

The Bank of America Cash Rewards for Students card is a great choice for students who want to earn cash back on their purchases.

You get 3% cash back rewards in a category of choice. There is an automatic 2% cash back at grocery stores and wholesale clubs.

Cash back is limited up to $2,500 quarterly in those 2 and 3% categories.

The card earns $100 after you spend $500 in the first three months and it has no annual fee. The only downside is that it doesn't have any sort of 0% APR period.

Focused on Travel Rewards?

Capital One Venture Rewards Credit Card

Capital One Venture lets you earn 20,000 miles after you spend $1000 in the first three months. You also get a point for every dollar spent elsewhere.

The card has no annual fee and it comes with a 0% APR period for 12 months on purchases and balance transfers.

The travel rewards include up to $100 for Global Entry or TSA PreCheck.

Earn unlimited 2x miles, every day on every purchase.

Earn 5x miles on hotels and rental cars booked through Capital One Travel.

You can use miles to book or get reimbursed for travel purchases.

This card is incredibly easy to use for getting reimbursed using points. You can simply select a charge when paying your bill and use points.

If you're looking to transfer a balance from another card, the credit card earns 20,000 points after you spend $1000 in the first three months and it has no annual fee. The only downside is that it doesn't have any sort of 0% APR period. There is, however, no balance transfer fee.
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This credit card is not one of those credit cards to build credit; you need a strong credit score to qualify.

​Chase Freedom Unlimited Card

The Chase Freedom Unlimited Card offers one point per dollar spent on all purchases.

There is 5% cash back on travel purchased through Chase Ultimate Rewards, 3% cash back on dining, 3% cash back on drugstore purchases and 1.5% cash back on all purchases.

The Chase Freedom Unlimited Card offers a 0% APR period for 15 months on purchases and balance transfers.

You also get a $200 sign up bonus after you spend $500 in the first three months. There is a foreign transaction fee of three percent.

The regular variable APR is 15.24% to 23.99%
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This credit card is not one of those credit cards to build credit; you need a strong credit score to qualify.

​The Discover it Cash Back Card

Do you make general everyday purchases at amazon.com, grocery stores and use Paypal?

The Discover it Cash Back Card offers five percent cash back on rotating categories each quarter, making it a great choice for anyone who wants to earn rewards on their everyday spending.

The Discover it Cash Back Card has no annual fees, 5% cash back on everyday purchases like amazon.com, grocery stores, restaurants, gas stations and when you use Paypal.

You automatically get 1% cash back on all other purchases.

The rewards never expire. Some users have complained that the rewards are complicated, because you have to keep track of the rotating categories every month.

The Discover it Cash Back Card is not accepted many places if you travel abroad.

This is not one of the starter credit cards to build credit. You need a strong credit score to qualify.

However, if you are looking to build credit, you could start out with the Discover it Secured Credit card, and after your seven month review, see if you qualify for the Discover it Cash Back Card.

American Express Blue Cash Everyday Card

The American Express Blue Cash Everyday Card is a great choice for anyone who wants to earn cash back on their everyday spending.

The card earns three percent cash back at U.S. supermarkets (on up to $6000 per year in purchases, then one percent), two percent cash back at U.S. gas stations, and 1% cash back on other purchases.

Cash back can be received in the form of reward dollars that can easily be redeemed for statement credits.

This is not a starter credit card or one of the credit cards to build credit. You need a good to excellent credit score to qualify for this card.
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There is a 0% intro APR for 15 months and a 14.74% to 24.74% variable APR after that. There are no balance transfers allowed.


Now that you know what to look for in a credit card and some of the best options for women, you're ready to choose the right one for you!