Best Credit Card Options

Several years have passed since the termination of the great recession and credit cards have regained their popularity. Currently an estimated 171 million American own at list one card. The credit balance in the cards is totaling to approximately 1 trillion US dollars. A growing economy and rise in demand signify intense competition among businesses. It is the best time to own a credit card. Credit card companies are developing new offers for customers including high cash back rewards, good sign-up bonuses, and other several benefits. The more features, the higher the confusion. To help solve the confusion Nerd Wallet together with MONEY suggest some options among the best cards. The cards are categorized so that everyone can identify which one suits their interest since needs vary.

The first category is best cash back card with Citi Double Cash emerging as the best. For a cash back card to outstand among the others, it has to let the customers earn points with minimal restrictions. That is precisely what Citi Double Cash offer. For every 100 dollars an individual spends, they gain back points worth 2 dollars without any limitation on the category. It has zero annual fees and an APR of between 14.49 percent and 24.29 percent.

The second category is the best rewards card. Chase Sapphire Reserve ranks best in the division. Though it charges exorbitantly in its annual fee, it still several some other benefits. For beginners, it offers customers excellent returns on basic expenditure and high rewards on most of the typical sectors including, hotel accommodation and airfare. It also provides better packages for individuals who frequently travel the world such as free insurance for rented cars, guaranteed access to over 900 airports lounges around the globe and zero charges on overseas transactions.

The last category is best cards for balance transfers. BANKAMERICARD wins in the class. Though the card has no rewards, it charges zero annual fees and also zero percent APR for the first 15% billing cycles for both purchases and transfers. The offer is essential for individuals who require more than one year to clear their debts.

The criteria for selecting best card is not similar to everyone. People have to first identify their needs and interests before proceeding to settle on any card. Some other categories exist, but the three mentioned categories are the common ones. Some suggestions may include best airline mileage cards and best hotel card.

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