Not all credit cards are created equal. In fact, credit cards are about as varied as vehicles. Some come with high APRs and very little in the way of benefits. While others boast low interest rates and enticing perks, such as air miles, cashback and more spending power. As you probably guessed, the former types of cards are reserved for those with bad credit, while the latter are typically only available to individuals with scores of 700+.
However, like with vehicles, there is a credit card for everyone. Whether you’re rebuilding your credit after bankruptcy, are just beginning your credit journey or want to bolster an already impressive score in preparation for a home loan, there are cards that will help you accomplish your goals better than others. Use our credit card comparison guide, along with additional info. Find the best card for where you’re at in your life right now.
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The Top 5 Credit Cards To Have
If you strictly focus on credit card comparison, there are certain products that are better than others, hands down. Of over 1,500 credit cards, these are the top five as chosen by analysts as of February 2021:
- Chase Freedom Unlimited: A 0% introductory rate, a $200 sign-up bonus, up to 5% cashback and a low APR. This card is the card of cards. Best of all, you only need “Good” credit to receive approval.
- Citi® Double Cash Card: Any card with the term “double cash” in the name has to be a winner, and this one is no exception. With this card, you get 2% cashback on all purchases, a 0% introductory rate for 18 months, no annual fee and an APR as low as 13.99%.
- American Express Blue Cash Preferred® Card: Though this comes with a $95 annual fee after the first year, you can easily offset that with the initial $300 bonus and 1-6% ongoing cashback on everyday purchases. The APR after the first year is impressive too, at as low as 13.99%.
- Chase Sapphire Preferred® Card: If you like to travel, this card is well worth the $95 annual fee. After spending $4,000 in the first three months, get 60,000 reward points, redeemable for either up to $750 in travel or a $600 statement credit. Earn ongoing points on everyday spending.
- Capital One QuicksilverOne Cash Rewards Credit Card: Though it has an average APR of 26.99% and a $39 annual fee, the 1.5% cashback rewards rate more than makes up for both. Moreover, fair credit is all that’s required to be approved, which is nearly unheard of for rewards cards.
Of course, the best cards per credit card comparison guides require good to excellent credit scores. If your score doesn’t qualify you, don’t get discouraged. Rather, conduct your search in a more personalized manner.
Ask Your Bank About Its Credit Cards
Several factors influence your odds of approval for a credit card, including your relationship with the issuer. Banks are more inclined to extend lines of credit to persons they already know, especially if those persons are long-time customers with accounts in good standing. If you have recent credit troubles or don’t have credit at all but have been with the same bank for years, consider turning to your bank first.
See Which Cards You’re Preapproved For
If you’re not sure where your credit stands and worry about receiving a denial, look into preapproved credit card offers. Instead of having to use a credit card comparison guide to advise your search, lenders come to you. They extend offers based on the assumption that you meet their eligibility requirements and, while approval is not guaranteed, it almost is. This takes the stress out of wondering if you will get approved and whether applying is worth the hit to your credit score.
Shop for Credit Cards With a Particular Goal in Mind
The best credit cards for you really depend on your credit goals and lifestyle. To get the most value out of your cards, think about your spending habits. And, most importantly what you would like to accomplish. If you want to make the most of every dollar you spend, look into cards with everyday cashback rewards. Or, if you travel a lot, consider a card that rewards spending with air miles or hotel credits. If you have substantial debt you want to consolidate, look into a balance transfer card. There is a card for just about every purpose, so take your time to find the one that suits yours perfectly.
Take Advantage of Credit Card Comparison Guides
There are hundreds of credit card comparison guides available on the internet, and for good reason: They help. Whether you’re looking for the best cards for bad credit, cards for students or cards with 0% interest, you can likely find lists dedicated to your search. For your convenience, we’ve compiled guides for just about every credit score and interest level here.
