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 compared the top credit cards to determine which one offers the best value for everyday and high-end purchases as well as business expenses. The Money team then ranked top credit cards based on their various features, to assist consumers in choosing the right card.
No-fee credit cards
No-fee credit cards are great for building or rebuilding your credit. You'll get more benefits and perks from these cards than those that charge an annual fee. It doesn't take a complicated strategy or plan to offset the annual cost. It's crucial to ensure that these cards are right for you before you begin applying.
Capital One VentureOne Credit Card offers flexible rewards and no fees. Transfer your points to 17 hotel and airline partners. VentureOne Rewards Credit Card, like its older sibling offers credit for TSA precheck or Global Entry.
Interest-free balance transfer cards
One of the best ways you can pay off large amounts of debt is with balance transfer cards. This type of credit card allows you to transfer your balance to a new card without incurring 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 decide how much you can pay each month and when you can pay off the balance. You can transfer your balance to several credit cards with interest-free balance transfers. However, you need to be aware of the conditions.
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.
Cash back cards with no fees
If you're in the market for a new credit card, no-annual-fee cards may be worth considering. These cards generally have no annual fees but you must consider other factors such the card's APR or credit limit. The rewards you receive might offset the annual fees.
A variety of cards offer cash back rewards. Capital One SavorOne, for example, offers a flexible rewards redemption and unlimited Cashback Match(tm) welcome offer. Both provide cash back rewards that can double earnings within the first one year.
Balance transfer cards with Airmiles
Balance transfer cards allow you to pay off balances and earn airmiles. These cards are particularly useful if you have high-interest debts. You can save money by getting these cards with no annual fees. Some of these cards also have 0% introductory interest rates.
Balance transfer cards typically offer 0% APR initial periods. These introductory offers aren't always good, and most of them also apply to purchases. It is important to find out what fees are charged. Credit card companies typically charge a flat rate between 3% and 5% of the balance transferred. Many cards also have an annual charge.