Best Credit Cards For You & Things to Consider when Choosing One

Best Credit Cards For You & Things to Consider when Choosing One.

Credit Cards: Finding the best credit card isn’t always easy. Especially when there is a unique set of benefits for each credit card class. Our best credit card list includes options covering multiple categories, thus maximizing the rewards you can earn on each purchase.

Best Credit Cards of 2019

In the list below you can find the best credit card for each category, as well as further options down the page.

Best Credit Cards of 2020

Capital One® Quicksilver® Cash Rewards Credit Card

Best Overall

RECOMMENDED CREDIT SCORE: Good – Excellent
REGULAR APR (%) 15.74% – 25.74% variable
ANNUAL FEE $0
REWARDS EARNING RATE 1.5% cash back on every purchase, every day.
INTRO PURCHASE APR 0% for 15 Months
FOREIGN TRANSACTION FEE (%) 0%

WHY WE CHOSE THIS CARD

It’s a well-rounded, no-nonsense card that deserves this top honor and a spot in your pocket. It is also the best cash-back bonus card and no annual fee. It is easy to earn the sign-up bonus and cash back, as there are no thresholds or limits on earning to think about. If you have to make a big investment or mortgage to clear out with a change of cash, you will also have more than one year to fund such interest-free payments.

Amex EveryDay® Credit Card

Best for Financing Large Purchases

RECOMMENDED CREDIT SCORE: Good – Excellent

REGULAR APR (%) 14.49% – 25.49% variable
ANNUAL FEE $0
REWARDS EARNING RATE Earn 2 points per $1 at US supermarkets on up to $6,000 per year. Earn 1 point per $1 for other eligible purchases.
INTRO PURCHASE APR 0% for 15 Months
FOREIGN TRANSACTION FEE (%) 2.7%

WHY WE CHOSE THIS CARD

More than a year to pay off interest-free large transactions is a good deal that gets much better if you also find the benefits of the welcome package. It’s a simple double-whammy if your big purchase costs more than $1,000: you get 10,000 points you can use for travel or other redemption opportunities, and time to pay off that big interest-free purchase.

This no-annual fee card also provides continuing benefits, giving it a long-term value after the completion of the APR cycle of 0 percent.

Chase Sapphire Reserve®

Best for Travelers

RECOMMENDED CREDIT SCORE:  Excellent
REGULAR APR (%) 18.49% – 25.49% variable
ANNUAL FEE $450
REWARDS EARNING RATE Earn 3x points on travel immediately after earning your $300 travel credit, 3X points on dining at restaurants, and 1 point per $1 spent on all other purchases.
FOREIGN TRANSACTION FEE (%) 0%

WHY WE CHOSE THIS CARD

This may be the versatile travel card of your dreams if you’re a commuter, frequent flyer, or cruise lover. In addition to a generous $750 sign-up bonus once you redeem points through the Chase website, this offers exclusive travel redemption opportunities and great travel benefits such as unlimited access to the airport lounge, preferred rental car coverage, and reimbursement of Global Entry / TSA Precheck application fees. Sure, the annual fee is high, but it’s worth it if you travel frequently and enjoy the benefits.

Wells Fargo Cash Back College℠

Best for Students

RECOMMENDED CREDIT SCORE  : Poor – Excellent
REGULAR APR (%) 12.65% – 22.65% variable
ANNUAL FEE $0
INTRO PURCHASE APR 0% for 6 Months
REWARDS EARNING RATE 3% cash rewards earned for up to $2,500 spent on gas, grocery, and drugstore purchases for the first 6 months. 1% cash rewards for each $1 spent on virtually all other purchases with your card.
FOREIGN TRANSACTION FEE (%) 3%

WHY WE CHOSE THIS CARD

Busy students need a credit-worthy and educational card, and that’s why it shines. In addition to earning cash-back rewards on routine purchases such as gas and grocery stores, for six months you will also pay no interest on purchases.

Exposure to various resources, such as free FICO credit scores and the credit training center for Wells Fargo, also makes this a valuable tool for credit building. Please note that to apply you must be a current Wells Fargo customer.

AAdvantage® Aviator® Red World Elite Mastercard®

Best Sign-Up Bonus

RECOMMENDED CREDIT SCORE: Good – Excellent
REGULAR APR (%) 17.49% – 26.49% variable
ANNUAL FEE $99
REWARDS EARNING RATE Earn 2X miles for every one dollar spent on eligible American Airlines purchases. Earn 1X miles for every dollar spent on all other purchases.
FOREIGN TRANSACTION FEE (%) 0%

WHY WE CHOSE THIS CARD

Depending on our estimates, the reward is worth an impressive $1,770, making it one of the most desirable deals right now. And it’s getting better: it’s easy to earn too. To claim the reward, you just need to make one purchase and pay the annual fee. That’s a lot compared to the usual requirement of spending of $3,000 that many sign-up incentives have.

You will also receive a certificate of $99 (plus taxes and fees), which will make this card even better. For those who can fly American Airlines at least a few times a year, this card is perfect. Do not pass on this deal if you can.

Citi Simplicity®

Best for Balance Transfers

RECOMMENDED CREDIT SCORE: Good – Excellent
REGULAR APR (%) 16.24% – 26.24% variable
ANNUAL FEE $0
BALANCE TRANSFER FEE Either $5 or 5% of the amount of each transfer, whichever is greater.
INTRO BALANCE TRANSFER APR 0% for 21 Months
INTRO BALANCE TRANSFER FEE This card does not offer an introductory balance transfer fee.

WHY WE CHOSE THIS CARD

It is the longest available offer of 0 percent balance transfer APR right now. Long deals like this are so useful since the loans need to be paid off in full before the offer ends in order to really take advantage of the interest cost savings. Getting the time to do this will make the budget process less stressful and simpler. This card also generously enables you to make transfers that qualify for the interest rate deal for four months.

Credit One Bank American Express® Card

Best for Bad or Fair Credit

RECOMMENDED CREDIT SCORE – Fair – Excellent
REGULAR APR (%) 25.74% variable
ANNUAL FEE $39
REWARDS EARNING RATE 1.0% cash back on eligible purchases
FOREIGN TRANSACTION FEE (%) 3%

WHY WE CHOSE THIS CARD

The card provides you with a rare opportunity to rebuild less than perfect credit while earning cash back and enjoying some American Express perks that might otherwise be out of reach. All card purchases receive a generous 1% cash back that is given via automatic declaration credits.

The credit limit is comparable or better than what similar cards offer, and Credit One checks your account periodically automatically to see if you are eligible for an increase.

Read Also:

How Do Credit Cards Work?

How does a credit card work?

Credit cards allow you to make purchases from your checking account without having to pay for them immediately with cash or money. Of fact, you use the cash of the credit card company, and then you pay it back.

The credit card company (also known as a credit card issuer) will send you a bill about once a month telling you how much you owe and when to make the fee. If you are unable to cover the entire bill, your account will be charged interest by the lender. That’s the basics, but this explainer will help you understand everything you need to know about the cost of carrying a credit card balance.

6 Tips for Choosing the Best Credit Card for You

Choosing a credit card needs you to take an good look at your habits and needs, and see how those line up with the products out there. To get started, here are six tips for matching your needs to the right kind of credit card.

To help you further understand the credit card selection process, we put together this guide to picking a credit card and an overview specifically for first-time card applicants.

Can You Get a Credit Card With Bad Credit?

You can still get a credit card with bad credit. Secured credit cards are usually available for people with a poor credit record because you have to put down a deposit that’s typically equal to your credit limit. If you use the card responsibly, subsequently, you’ll build your credit and can apply for a better card.

How Credit Card Rewards Work

Most credit card reward programs follow the same basic structure: you earn a percentage of that purchase in cash back, points, or miles for every dollar you spend on your credit card. Then for a variety of things you can redeem cash, points, or miles.

Each credit card rewards program is different, so to understand their services, it is best to read individual credit card reviews. This review of the fundamentals of reward cards will help you learn about the various rewards programs out there and, most importantly, whether or not a reward card is worth signing up for.

Common Credit Card Benefits

This includes a lot of details about card benefits you might not realize you have access to. Here’s a quick list of common benefits.

Common Perks on Many Kinds of Credit Cards

  • Car rental insurance
  • Zero fraud liability
  • Roadside assistance hotline

Common Rewards Card Perks

  • Insurance for stolen or damaged purchases
  • Lowest advertised price match
  • Extended warranties on purchases
  • Refund when merchant won’t accept returned item

Common Travel Rewards Card Perks

  • Insurance coverage for lost or delayed luggage
  • Insurance coverage for trip cancellation, interruption, or delay
  • Travel accident insurance

Conclusion: Points to Consider

best credit cards

The most important components of a credit card’s overall score are the fees, rewards, and interest rates. While fees, rewards, and interest rates make up the vast majority of our scores, consider the overall experience of a card.

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