There are many credit cards to choose from. Some cards offer additional security while others provide rewards for everyday spending. Money recently examined some of the top credit cards to find out which ones offer the best value for everyday purchases, luxury purchases, and business expenses. Money then ranked the top credit cards by their features to help consumers choose the right card.
No-fee credit cards
Credit cards with no fees are great for improving or rebuilding credit. These cards are more beneficial than those that require an annual fee. The annual fee is not a burden. However, before you apply for these cards it is important to verify that they are the right fit for you.
Capital One VentureOne Credit Card offers flexible rewards and no fees. Transfer your points to 17 hotel and airline partners. Like its older sibling, the VentureOne Rewards Credit Card also offers credit for TSA PreCheck or Global Entry.
Transfer cards with interest-free balances
You can use balance transfer cards to pay off large debts. This type of credit allows you to transfer your current balance to a brand new card without paying interest. But, it is best to avoid making new purchases with your new card. You should also make sure you have a repayment plan in place before you apply. This will allow to determine the amount you can afford monthly and the time frame for paying off the balance. There are many credit card companies that offer balance transfer without interest. But you should be aware of their requirements.
Be aware that you may be unable to pay the entire balance of your promotional offer, which could result in you being charged hundreds of dollars. It is vital to understand the terms of any promotional offer. You can also ask about penalties if you fail pay off your balance during the promotional period.
No-fee Cash Back Cards
These cards have no annual fees if you are looking for a credit card. Although these cards usually have no annual fees, you should also consider other factors such as the APR and credit limit. The rewards you earn might offset the annual cost.
There are many options for cards that offer cashback rewards. Capital One SavorOne offers flexible rewards redemption and an unlimited Cashback Match(tm), as well as a welcome offer. Both reward you with cash back that can double your earnings within the first year.
Airmiles balance transfer cards
The balance transfer card is a great way of paying off a balance, and earning airmiles. They can be especially helpful if you have large amounts of debt with high interest rates. These cards often offer annual fee-free options, which can help you save money. These cards often offer 0% introductory rates.
Balance transfer cards typically offer 0% APR initial periods. These introductory offers don't always work and many of them apply to purchases. You should also check the fees involved. Credit card companies typically charge a flat rate between 3% and 5% of the balance transferred. Many cards charge an annual fees.