There are many types of credit cards on the market. Some credit cards have additional security features, others offer rewards to everyday spending. Money recently examined the top credit card brands to see which ones are the most value for business, everyday, and luxury purchases. It then ranked the best credit cards by feature to help consumers find the right card for them.
No-fee credit cards
Credit cards with no fees are great for improving or rebuilding credit. These cards will offer you more benefits than cards that charge an annual fees. You don't need to devise a complex strategy to offset the annual fees. However, before you apply for these cards it is important to verify that they are the right fit for you.
Another card with flexible rewards is the Capital One VentureOne Rewards Credit Card. Points can be transferred to 17 partner airlines and hotels. VentureOne Rewards Credit Card offers credit for TSA PreCheck and Global Entry, just like its older sibling.
Balance transfer cards that are interest-free
A balance transfer card is one of the most effective ways to repay large debts. This credit card allows you transfer your balance to a different card without accruing interest. However, you should avoid using your new card to make new purchases. Before you apply, you should make sure that you have a repayment plan. This will help you determine how much you can afford each month and when the balance can be paid off. There are several credit cards that offer interest-free balance transfers, but you must be aware of the requirements.
Keep in mind that you may not have the funds to pay off your entire balance by the end of the promotional period. That could lead to you paying hundreds of dollars. It is important to carefully read any promotional offer. Ask about the consequences if your balance is not paid within the promotional period.
Cashback cards that are free of charge
The no-annual fees cards might be worth your consideration if it's time to get a new credit card. These cards typically have no annual fee, but you have to consider other factors, such as the card's APR and credit limit. You might get rewards as well as the annual fee.
A variety of cards offer cash back rewards. Capital One SavorOne offers flexible rewards redemption and an unlimited Cashback Match(tm), as well as a welcome offer. Both provide cash back rewards that can double earnings within the first one 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 are often available with an annual fee-free option that can help you save money. Some cards have 0% initial interest rates.
Balance transfer cards usually offer 0% APRintroductory periods. These introductory rates aren't always very attractive and they often apply to purchases. Also, be sure to check out the fees. Credit card companies typically charge a flat-rate of 3% - 5% of the balance to be transferred. Many cards also have an annual charge.