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Credit Cards of May 2023 in the U.S.

Apply for a credit card. On 31.05.2023 you have access to 8 credit cards. Increase your chances of getting money — fill out a multi-application with a free credit rating check.

Offers: 8

Updated:
20.02.2023
06:28
BEST CREDIT CARD FOR E-SHOPPING
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

18.49 – 26.49 %
BEST 0% APR CREDIT CARD FOR PURCHASES
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

18.24 – 28.24 %
BEST CREDIT CARD FOR BONUS CASH BACK
Chase
Chase Freedom Flex℠ Credit Card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

19.24 – 27.99 %
Submit your credit card application online
Submit your credit card application online

Take advantage of our credit card selection system with a free credit check!

BEST CREDIT CARD FOR GROCERIES
American Express
Blue Cash Preferred®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

18.49 – 29.49 %
BEST CREDIT CARD FOR COLLEGE STUDENTS
Capital One
SavorOne Rewards for Students®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

19.24 – 29.24 %
BEST SMALL-BUSINESS CREDIT CARD
American Express
Amazon Business Prime Card®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

18.74 – 26.74 %
BEST CREDIT CARD FOR DINING
U.S. Bank
U.S. Bank Altitude® Go Visa Signature® Card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

19.24 – 28.24 %
BEST BALANCE TRANSFER CREDIT CARD
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

16.24 – 26.24 %

Credit Card Online Application of May 2023

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Card limit
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500 $
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Other Credit Cards offers on 31.05.2023

How to Apply for a Credit Card Online

1. Fill out your application
1. Fill out your application

On our website you can fill out a short application form for a credit card.

2. Pass a credit check
2. Pass a credit check

We will offer you to check your credit score online for free.

3. Send your application online to the suggested companies
3. Send your application online to the suggested companies

After checking your credit rate, you will be able to send your loan application to the appropriate companies.

4. Wait for a response from the lender
4. Wait for a response from the lender

If necessary, the lender will contact you to clarify the details.

5. Get your credit card!
5. Get your credit card!

Sign the agreement and get the card

Apply for a credit card Your data is securely protected

Reviews

Uprova
4
Liam J
Liam J
31.05.2023 at 17:25
During a difficult emergency, Uprova provided me with excellent assistance. They delivered the funds to my account in just 30 minutes, just as advertised...
Review
Fifth Third Bank
2
Santiago J
Santiago J
30.05.2023 at 21:30
I had a terrible experience with this company as they scammed me with my auto loan...
Review
CareCredit
2.6
Olivia J
Olivia J
30.05.2023 at 14:35
We took our pets to a veterinary clinic and were shocked by the high bill...
Review
Xact
1.8
Victoria J
Victoria J
29.05.2023 at 16:40
Please avoid using Xact as they are attempting to scam me for over $1,000 more than what I am supposed to pay for my loan. This is unacceptable and a clear attempt at fraud. Beware of this company.
Review
Freedom Debt Relief
4.2
Liam J
Liam J
28.05.2023 at 22:55
I have been really impressed with Freedom Debt Relief so far...
Review
Uprova
2
Sophia S
Sophia S
27.05.2023 at 09:10
I experienced identity theft, and Uprova's loose lending practices facilitated the fraud...
Review
Credit Cards of May 2023

What is a Credit Card?

A credit card is a payment card that allows you to make purchases and withdraw cash advances on credit. The card is issued by a financial institution, such as a bank, and provides a line of credit that can be used to make purchases or withdraw cash.

When you make a purchase or withdraw cash, you are borrowing money from the issuer, and you must repay the amount borrowed, along with any interest or fees, according to the terms of the credit card agreement. The amount of credit available and the interest rate charged can vary depending on your credit history and the type of credit card you have.

With credit cards, besides a line of credit, customers may also get money in the form of cash advances available through ATMs, bank tellers, or other financial options. Cash advances usually have higher interest rates and different loan terms than credit lines.  

How Credit Cards Work?

Credit cards are a common form of payment in the United States and are used to make purchases and withdraw cash advances. They work by providing a line of credit that can be used to make purchases or withdraw cash, and the amount of credit available and the interest rate charged can vary depending on your credit history and the type of credit card you have.

To get a credit card, you will need to apply for one. This typically involves filling out an application and providing information about your income, employment, and credit history. The issuer will then review your application and determine whether or not you are eligible for a credit card and what the terms and conditions of the card will be.

Once you have been approved for a credit card, you will be assigned a credit limit, which is the maximum amount of credit that you can use. Your credit limit will depend on a variety of factors, including your income, credit history, and the type of credit card you have.

To make a purchase with your credit card, simply present the card at the time of sale and sign for the purchase. The amount of the purchase will be added to your balance and you will be required to repay the amount borrowed, along with any interest or fees, according to the terms of the credit card agreement.

Each month, you will receive a bill from the issuer indicating the amount you owe and the due date. You can choose to pay the entire balance, or just a portion of it, and you will typically be charged interest on the amount that you do not pay. If you make your payments on time and in full each month, you can help maintain a positive credit history and improve your credit score.

If you do not pay your balance in full each month, you will be charged interest on the amount you owe. The interest rate charged can vary depending on the type of credit card you have and your credit history. Additionally, you may be charged fees for late payments, exceeding your credit limit, or for other reasons.

Your credit card activity is reported to the major credit bureaus, and this information is used to create your credit report. Your credit report is a record of your credit history, including your payment history, credit utilization, and other factors, and it is used by lenders and other financial institutions to determine your creditworthiness.

Pros and Cons of Credit Cards

Pros

  • Convenience. Credit cards are widely accepted, making it easy to make purchases both in-person and online.
  • Flexibility. Credit cards offer a line of credit, which can be helpful in emergency situations or when making large purchases.
  • Rewards. Many credit cards offer rewards such as cash back, points, or miles, which can be redeemed for merchandise, travel, or other perks.
  • Building credit. Using a credit card responsibly can help improve your credit score and build a positive credit history.
  • Protection. Credit cards often come with additional protections such as extended warranties, purchase protection, and fraud protection.

Cons 

  • Debt. Credit cards can be a source of debt if not used responsibly, as interest charges and fees can quickly add up.
  • High interest rates. Credit cards often have higher interest rates than other forms of credit, making it more expensive to carry a balance.
  • Fees. Some credit cards charge annual fees, balance transfer fees, or foreign transaction fees, which can be costly.
  • Temptation. Having a line of credit can make it easier to overspend, especially if you do not have a budget or a plan for repaying your credit card debt.
  • Impact on credit. Late payments, exceeding your credit limit, or other negative activity can have a negative impact on your credit score and history.

Types of Credit Cards

There is a wide variety of credit cards available to consumers, each offering its own unique features, benefits, and drawbacks. Understanding the different types of credit cards can help you choose one that best fits your financial needs and goals.

  • Rewards Credit Cards. These credit cards offer rewards such as cash back, points, or miles, for making purchases with the card. Rewards credit cards can be a great way to save money on everyday purchases or earn rewards for travel or other perks. However, rewards credit cards often come with annual fees, so it's important to consider if the rewards you earn will outweigh the cost of the annual fee.
  • Cash Back Credit Cards. A cash rewards credit card is a type of rewards credit card that offer a percentage of cash back on every purchase made with the card. This type of card is a good choice for consumers who want to earn rewards on their everyday spending, such as groceries or gas. Some cash back credit cards offer tiered rewards, meaning that you earn a higher percentage of cash back on certain categories of purchases.
  • Travel Credit Cards. These are a type of rewards credit card that are specifically designed for travelers. These credit cards often offer rewards such as miles, points, or travel credits, which can be redeemed for flights, hotel stays, or other travel-related expenses. Some travel credit cards also offer perks such as airport lounge access, priority boarding, and travel insurance.
  • Balance Transfer Credit Cards. The cards are designed for consumers who are looking to transfer a high-interest credit card balance to a card with a lower interest rate. These credit cards often offer a 0% introductory APR on balance transfers, allowing consumers to pay down their debt without accruing additional interest charges. However, balance transfer credit cards often have fees associated with the balance transfer and the promotional rate typically expires after a certain period of time.
  • Student Credit Cards. They are designed for college students who are looking to build their credit history. These credit cards often come with lower credit limits and less stringent approval requirements, making them a good option for students who have limited or no credit history. Some student credit cards also offer rewards or cash back on purchases, helping students save money while building their credit.
  • Secured Credit Cards. These are a type of credit card that is backed by a refundable security deposit. Consumers must make a deposit, typically equal to their credit limit, which serves as collateral for the credit card. Secured credit card is a good option for consumers who have limited or poor credit history, as they provide a way to build or rebuild credit.

How To Choose a Credit Card?

Choosing the right credit card can be a confusing and overwhelming process, especially with so many options available. However, taking the time to evaluate your financial needs, spending habits, and goals, can help you make the best choice. Here are some tips on how to choose a credit card in the United States.

  1. Determine your financial needs. Before applying for a credit card, consider your financial needs and goals. Do you want to earn rewards for your spending? Are you looking to transfer a high-interest balance to a lower interest card? Are you looking to build your credit history? Understanding your financial needs will help you choose the right type of credit card for your situation.
  2. Evaluate your spending habits. Consider your spending habits and determine which categories you spend the most money on. If you frequently dine out or make purchases at the grocery stores, a cash back credit card that rewards those purchases could be a good choice. If you travel frequently, a travel rewards credit card may be more suitable.
  3. Compare annual fees and interest rates. Credit cards often come with annual fees and interest rates, so it's important to compare these fees and rates before applying. Consider the cost of the annual fee against the rewards and benefits offered by the card. Additionally, consider the interest rate you will be charged if you carry a balance, as this can add up quickly if you don't pay your balance in full each month.
  4. Read the terms and conditions carefully. Be sure to read the terms and conditions of the credit card before applying, including the rewards program, the interest rate, and any fees. Pay close attention to the rewards program, as some programs may have restrictions or limitations on the rewards you can earn.
  5. Check your credit score. Before applying for a credit card, it's a good idea to check your credit score to determine your eligibility for different types of credit cards. You can obtain a free credit report once per year from each of the three major credit bureaus.
  6. Consider the additional benefits. Some credit cards offer additional benefits such as extended warranty coverage, travel insurance, or purchase protection. Consider these benefits when choosing a credit card, as they can provide valuable protection and peace of mind.
  7. Choose the right card issuer. There are many different card issuers, including banks, credit unions, and retailers. Consider the reputation of the card issuer and their customer service, as well as any additional benefits they may offer, such as fraud protection or account management tools.

Choose a Credit Card Issuer

Choosing a lender is a rather challenging task that includes many things that should be considered. 

  • Annual percentage rate (APR). It is the borrowing cost on the card accrued if customers fail to pay the whole balance off monthly. Be sure to compare the APR for different cards from various lenders before making the final decision. Also, the lender's fees, charges, and incentives.
  • Minimum repayment. Get to know how much you will need to repay to be able to repay a minimum amount if you don't do not have a chance to make a payment. It is typically around 3%.
  • The amount of the annual fee. Some lenders charge an annual fee, whereas others have a more frequent charge. Find out how much you will be charged and how often you need to pay.
  • Introductory interest rates for balance transfer credit cards. If comparing cards, look at how long the introductory rate lasts as well as the interest rate it changes to at the end of the introductory period.
  • Loyalty bonus points or rewards. Most credit cards offer points that depend on the spent amount. That is a paramount criterion, as customers can use rewards credit cards to buy various goods. Hence, check how and where you can use the rewards with a particular lender and decide for yourself if it is appropriate.

Be sure to find out the amount of cash back various lenders offer to get the money refunded to the card. In addition to that, check that you can qualify for the cash back with the particular lender. As a rule, customers can apply if they pay their balance in full every month.

How to Apply For a Credit Card?

You decide how many credit cards you need. Usually, copanies allow you to apply for multiple credit cards. To apply for a credit card and get approved, customers first have to get pre-qualified, compare all the available offers from various companies and financial institutions, and finally choose the best card for their needs. After that, they can apply online, by phone, in person, or by mail.

The credit approval process usually takes from one business day to a few weeks, and, in most cases, customers get to know whether they qualify for the loan in 10 to 14 days. 

As for required documents, customers usually have to attach their name, address, Social Security number, income, bank account information, and monthly housing payment on the application. Some additional information may also be required. 

If the customer's application is rejected, they must define the reason for that or ask the company's representatives for reconsideration. Otherwise, customers can also try to apply with the other lender. Moreover, clients can opt to become authorized users on the other account. After completing the approval process, getting a credit card generally takes 7 to 10 business days. Clients can get credit cards either by mail or expedited delivery. 

Ways to Use Credit Cards

Credit cards are a convenient and flexible financial tool that can be used in a variety of ways to help meet your financial goals and needs. Here are some of the most common ways to use credit cards:

  • Making purchases. One of the primary ways credit cards are used is to make purchases. Whether it's online or in-person, credit cards offer a quick and secure way to pay for goods and services. If you want to use the card abroad, make sure you do not have a foreign transaction fee.
  • Earning rewards. Many credit cards offer rewards programs that allow you to earn points, miles, or cash back on your purchases. The rewards can be redeemed for a variety of benefits, including statement credit, merchandise, and travel.
  • Building credit history. Using a credit card responsibly can help you build a positive credit history, which can lead to better loan and credit card offers in the future.
  • Transferring balances. If you have high-interest debt on other credit cards or loans, you can transfer that balance to a credit card with a lower interest rate. This can help you save money on interest charges and pay down your debt faster.
  • Making emergency purchases. Credit cards can be a helpful source of funds in case of an emergency, such as an unexpected car repair or medical expense.
  • Protecting purchases. Many credit cards offer extended warranty protection, price protection, and purchase protection, which can help you protect your purchases and ensure that you receive the best value for your money.
  • Travel benefits. Some credit cards offer travel benefits, such as lounge access, travel insurance, and travel rewards, which can make travel more enjoyable and affordable.
  • Cash advances. Credit cards also offer the option of taking out a cash advance, which is a loan that is secured by your credit card. However, cash advances typically come with high interest rates and fees, so they should be used only in emergency situations. There also can be a cash advance fee.
  • Paying bills. Credit cards can be used to pay bills, such as utility bills, mortgage payments, and rent. This can help you stay organized and ensure that you pay your bills on time.

FAQ

What are 3 types of credit cards?

The 3 main types of credit cards depend on the card's special features, functions, interest, terms of use, and other conditions. So, there are rewards, low-interest, balance transfer fee cards, and credit-building cards. Also, there may be small business credit cards and college student credit cards. When deciding which card to use, customers must first consider their major goals for the card's usage, the monthly payment they will need to make, the interest, and the terms it has. 

What is a credit card used for?

A credit card has a great number of functions. For instance, it can be used to set a budget and automatic payments, track purchases, pay off bills, regularly check statements, and get rewards. 

What is the meaning of a credit card?

Credit cards offer customers credit line they can use to make purchases online or in stores, balance transfers, cash advances, and pay bills. For that, clients must make the minimum payment every month by the due date on the balance. Different credit cards depend on the customer's personal purpose. For instance, there may be rewards for credit cards, low-interest, balance transfer cards, and credit-building cards.

What type of credit card is best?

A couple of credit cards are the main leaders of credit cards. One of them is Wells Fargo Active Cash Card, which provides such significant benefits as a $200 cash rewards bonus, zero interest rate for 15 months, 2% cash rewards, qualifying balance transfers, and high competitive variable APR. Other benefits of different credit cards include low balance transfers of approximately 3% and zero annual fees. This type of credit card also offers highly effective cell phone protection against either damage or theft.