When it comes to credit cards, there is no shortage of options out there. With so many different types and features, it can be overwhelming to try and choose the best one for you. That's why we've put together this guide to help you compare some of the best credit cards on the market.
Low APR Cards
One of the most important things to consider when choosing a credit card is the APR or annual percentage rate. This is the interest rate that you will be charged on any balances that you carry over from month to month. If you tend to carry a balance on your credit card, it's important to choose a card with a low APR to avoid paying more interest charges.
One of the top low-APR credit cards on the market is the Citi Simplicity card. With an APR range of 14.74% - 24.74% variable, this card offers a low introductory APR of 0% for the first 18 months on balance transfers. It also comes with no late fees, no penalty rates, and no annual fee. This makes it a great option for those looking for a simple, low-APR credit card.
Cash Back Cards
If you're someone who pays off your credit card balance in full each month, then you may want to consider a cash-back credit card. These cards allow you to earn a percentage of your spending back in the form of cash or statement credits. The amount you can earn varies by card, but it's a great way to earn some extra money just by using your credit card for everyday purchases.
One of the top cash-back credit cards is the Chase Freedom Unlimited card. With this card, you can earn 1.5% cash back on all purchases, with no limits or categories to keep track of. The card also offers a sign-up bonus of $200 cash back after spending $500 within the first three months. Plus, there is no annual fee to use this card.
Travel Rewards Cards
If you love to travel and want to earn points or miles to use towards your next adventure, then a travel rewards credit card may be the best choice for you. These cards typically offer points or miles for every dollar spent, and some even have additional perks like free checked bags or airport lounge access.
One of the top travel rewards credit cards is the Capital One Venture card. With this card, you can earn 2X miles on every purchase, which can be redeemed for any travel expense. Plus, you can earn a one-time bonus of 50,000 miles (equal to $500 in travel) after spending $3,000 in the first three months. There is also no foreign transaction fee, making it a great option for frequent travellers.
Secured Cards
Secured credit cards are a good option for those with no credit or bad credit. These cards require a security deposit, which serves as your credit limit and can help you build or rebuild your credit score. The amount of your deposit will vary by card, but it's typically between $200 and $500.
One of the top secured credit cards is the Discover it Secured card. It has no annual fee and offers 2% cash back at gas stations and restaurants, up to $1,000 in combined purchases each quarter. It also allows you to graduate with an unsecured card after eight months of responsible use. Plus, it offers free FICO credit score monitoring so you can track your progress.
When choosing a credit card, it's important to consider your spending habits and needs to determine which card is the best fit for you. Whether you're looking for a low APR, cash back, travel rewards, or a way to build your credit, there is a credit card out there that can help you achieve your financial goals. Take the time to compare your options and choose the card that is right for you.