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Top available offerings of credit cards for August 2021 in the United States

Credit cards’ fees and payments. How to choose an optimal card? Is it worth using multiple cards at the same time?

Citi® Diamond Preferred® Card
  • $0 Annual fee
  • 14.74% - 24.74% Variable APR
  • 0% intro APR on Purchases and Balance Transfers for 18 months

BankAmericard® credit card
  • $0 Annual fee
  • 12.99% - 22.99% Variable APR
  • 0% intro APR for 18 billing cycles on purchases and on any balance transfers made within 60 days of account opening

Wells Fargo Platinum card
  • Annual fee - $0
  • 16.49% - 24.49% Variable APR
  • 0% intro APR for 18 months from account opening on purchases and qualifying balance transfers

Other credit cards offers

Wiki - useful articles

Interesting facts in articles from the financial community.

Obtaining the best card is not an easy issue as every client has personal preferences and needs. In order to find the best option in a variety of available ones you should know exactly for what goal the card will be held. Some cards are designed for customers who want to increase their credit while others have a low or zero per annum rate on purchasing and balance transferring on offer. Credit cards providing cashback, bonus points, miles actually have all possible rewards to choose from.

Choosing the most appropriate credit card

Applicants should be careful not to get lost among numerous offers. The main thing is to clearly realize your needs and creditworthiness that is based on a credit rating and history.

Note! It should be kept in mind that each person has more than one credit rating.

In case the aim is to have a simple card that brings cashback percentage as credit on a statement of all credit card expenses then the Citi Double Cash Card with the 18-month BT offer or the Chase Freedom Unlimited can be the proper way to save money. Moreover, a cashback card can also come with an initial per annum rate of interest that sometimes allows to get rewards when paying for purchases over time at a temporary low rate of interest prior the regular rate comes into force.

Provided a travel reward card with the possibility to earn points is needed then the Amex Membership Rewards as well as the Chase Ultimate Rewards affording transfer to airline miles can be a suitable option. In addition, the Chase Sapphire Preferred Card may allow to pay for flights or redirect points to other programs of loyalty in order to receive more value rather than receiving cashback or redeeming points for gift certificates. Some cards for traveling like the Capital One Venture Rewards enable you to exchange purchases for trips with no blackout dates.

A lot of cards providing rewards like the Capital One Savor Cash Rewards, the American Express Blue Cash Preferred card grant the possibility to get more on definite bonus categories like paying at gas stations, groceries or wholesale clubs. Others have higher rates on rewards across rotational categories that are changed throughout the year. These options include Chase Freedom Flex along with the Discover It Cash Back. The advice for customers is to select wisely in accordance with their habits and expenses.

Another issue is welcome bonuses provided by numerous credit cards. The issuers frequently award cardholders with points or a cash bonus if a certain amount is spent over the period of the first couple months following the card account opening. Such bonuses may be extremely valuable if a client is able to have the minimum expenses during several months after the account is open or during a specified number of billing cycles. Sometimes extra bonuses are granted at the first year end.

It should be remembered that some cards require high annual charges but they can be offset by the benefits and rewards applied. To keep things simple applicants can only consider variants without an annual charge. And a special attention should be paid to the issue that some cards do not require this charge during the first year. Thus, the card can be obtained in order to check if it is appropriate before the annual charge goes into effect.

Cards that are annually charged like Chase Sapphire Reserve generally provide better benefits and may issue a credit for registration fees for programs such as Global Entry and TSA PreCheck. It is possible to get a credit to cover expenses for checked-in baggage.

It is possible to apply for educational credit card being a student or even just a person having no credit history records at credit bureaus.

Note! Typically, lower credit limits are applied and may be a starting point for obtaining a loan.

There are also cards allowing to track the FICO scores as well as the client's progress. Indeed credit cards can become a great tool for a credit receiving in case they are used responsibly, and cashback cards are even able to give a little discount.

Despite having a poor credit rating applicants still can take advantage of credit cards. In this case, an annual charge has to be paid or a secure card issued. Such a card claims a security deposit and results in a smaller credit line but may be a helpful tool to improve a credit rating if bills are timely paid and the card is used wisely. In some cases, to be a secure credit card holder does't require the existence of a bank account.

If the aim is to redeem debts faster with balance transferring then the suitable card will probably not charge commissions for balance transferring as well as have a long introductory offer of 0% for this procedure or an APR one.

Additional benefits that cards provide should be considered as well. A lot of credit cards for traveling have advantages like auto rentals and travel insurance, and some even go further and provide access to airport lounges and larger travel credits. In case an applicant frequently travels abroad it is worth considering whether the card applies overseas transaction fee. Such issuers as Capital One do not charge any these fees on any cards. The Visa or Mastercard produced by Bank of America, Capital One, Chase or Wells Fargo should be checked as well as Discover along with American Express may not be widely accepted abroad.

A broad range of credit cards are assigned specially for small businesses. When applying, it is necessary to provide a personal guarantee and the issuing company will probably verify the applicant's credit history. But these cards may bring great rewards for business purchases while personal and business expenses are separated.

Important! Whichever card is chosen, a customer should ensure that monthly payments are made on time and the card is utilized responsibly in order to avoid arrears and high percentage.

The majority of cards apply a variable per annum rate of interest and thus, are an expensive way to borrow funds. However, upon the full balance of the statement redemption, the per annum rate of interest on purchasing may not matter as most cards allow to avoid interest entirely.

Which card is the most appropriate?

If a customer wants to be holder of a credit card that provides cashback then it is better to start the check with the Citi Double Cash Card with the 18-month BT offer or the American Express Blue Cash Preferred card.

Provided the goal is to receive a card with an per annum rate of interest of 0% for purchasing or to make balance transferring it is worth getting the Citi Diamond Preferred card or else the US Bank Visa Platinum.

The list of top travel rewarding cards includes the American Express Platinum Card and also the Chase Sapphire Reserve.

If an applicant's credit score should be improved then a card designed for poor credit history or the one building it is needed. The Capital One Secured Mastercard together with the Discover It Reserve can help get back to normal.

The best cards providing awards

The Citi Double Cash Card with the 18-month BT offer affords to receive a flat rate cashback while the American Express Blue Cash Preferred card is the most appropriate card when paying for gasoline and groceries.

The American Express Platinum Card should be considered if the goal is to get the most travel awards and receive airline rewards and lounge access. One more worthy variant is the Chase Sapphire Reserve thanks to its wide range of points and transfer partners.

The best card with no annual charge

The Discover It Cash Back is among the best options having no annual charge and a great deal with 5% return categories that can be redeemed every 3 months (this rate is received up to $1,500 quarterly). In case a customer is not in the bonus category, the Citi Double Cash Card with the 18-month BT offer may be the right choice.

The Discover It Secured Card is designed to improve a bad credit rating.

The US Bank Visa Platinum Card is a convenient variant providing 20 cycles for purchases paying off or transferring balance prior the regular 13.99%-23.99% rate takes into force.

The best cars for traveling

Client's personal needs is the main criterion when choosing the best card for traveling. The Chase Sapphire Reserve along with the American Express Platinum Card are the appropriate options of luxury cards.

In case an applicant doesn't travel frequently the Chase Sapphire Preferred card together with the Capital One Venture Rewards are suitable.

The Bank of America Travel Rewards Credit Card, Capital One Venture Rewards Credit Card propose solid deals for those who are searching not expensive cards.

The appropriate credit card for customers having poor credit history

The Discover It Secured Card is a helpful option to amend a credit rating as it includes a refund reward together with the ability to upgrade to an unsecured card.

Simpler but still useful options to improve a rating are provided by several other issuers:

  • Capital One Mastercard Secured Card
  • Citi Secured Mastercard
  • BankAmericard Secured Credit Card

Proper credit cards for newbies

In case the client wants to obtain the first-ever card it is recommended to apply for a card with no annual charge as it can be kept open free of charge within the indefinite term. Interest and other fees may be avoided and cause a credit score improving.

Below is the list the best variants:

  • The Capital One QuicksilverOne Cash Rewards
  • Capital One Journey Student Rewards
  • Discover It Secured
  • Discover It Student Cash Back

Suitable credit score to be eligible for the top level card

Attention! The top cards providing cashback, bonuses and rewards for traveling may be more affordable than they seem.

Having a good or excellent level credit rating raises the chances to get approval for the appropriate credit card issuance. This means the FICO rating should be at least 740 or the VantageScore is at least 700 points.

High credit score allows to be eligible for a card but the approval depends on several other factors such as income, etc.

Important! An applicant can still get approval having relatively low score or rejected with fairly high one.

The kinds of credit cards

There are various credit cards types that are intended for different purposes and lifestyles. The most popular options include:

  • Credit cards providing rewards: bring points or cashback that can be redeemed and thus, help lower the cost of everyday expenses.
  • Credit cards for traveling: help travel by car, train or plane and stay at hotels as they provide additional benefits and awards in order to make trips cheaper and more convenient.
  • Credit cards for transferring balance: the average per annum percentage rate on such cards is about 19%. But holding a percentage bearing credit card debt enables to save funds by transferring them to the card with a per annum rate of interest of 0%.
  • Credit cards with APR of 0%: may be a proper solution provided a client needs extra time to pay for certain shopping.
  • Credit cards for students: students have access to special cards for clients having short or no credit history.
  • Options for fair credit history: are a safe bet in case a client's credit history is of the moderate level.
  • Secured cards for a bad level credit rating: an initial deposit is required for a secure card but such card can help amend a credit rating. There are also unsecured cards for clients with bad rating.