While some may joke that the best credit cards are the ones you never get, the truth of the matter is that some credit cards are far better than others. There are so many factors that can make the difference between a good credit card, and a bad credit card. So what are the best credit cards (or credit card offers) available? Let’s take a look at some of the factors you need to look for when you are ready to apply, and how you can find the very best credit cards offers available.
Best Credit Cards
When looking for the best credit card offers, here are some of the things you want to look for when searching:
- Regular interest rate–This is by far the most important factor. You want a card with a low interest rate. Don’t be confused by introductory offers (although you certainly want a great intro offer as well). Make sure you know up-front what kind of rate you will have. Less than 12% is fair, and the lower the rate–the better. If you can get 6-12%, this is often considered a fair rate for a credit card. If the regular credit card rate is going to be higher than about 15-19%, you may want to pass.
- Annual Fee–Try to avoid any credit card that offers any type of annual fee. Some cards can charge as much as $150 or higher for the “privilege” of carrying their card. This is just silly, as so many credit card companies offer no annual fee whatsoever. So strive to get a card with no annual fee.
- Rewards Programs–There are reward programs available for things like airline discounts, cash discounts, product rewards, and more. You want to research reward programs to find out which system will benefit your lifestyle the most. Some cards offer excellent rewards, and you can often get these rewards just by buying your regular groceries and supplies each month (even if you don’t pay interest).
- Sneaky Fees–Read the fine print on all credit card offers with a magnifying glass. Some will post some really sneaking hidden fees. Watch out for outrageous late fees, minimum monthly payment fees, over-credit-limit fees, minimum interest charge fees, and more. You should know exactly what fees the company has, and how much those fees will cost if you get in trouble.
- Introductory Interest Rate–Many credit card companies offer “teaser” interest rates to snatch up consumers and get new cardholders. You an benefit greatly by finding a card that offers a low introductory rate on balance transfers, or purchases (or both). These offers typically only last for a small period of time (often 6-12 months). You can sometimes get 0% interest rates on balance transfers and/or purchases if approved for these credit cards.
- Credit Card Perks–Many cards also offer interesting “perks” for their customers. Some of these include customizing the look of your card, being able to change the payment due date, an easy online account interface (so you can make payments and manage your account), and fraud protection. You definitely want to see which card is offering the best perks.
These are some of the main things you want to look for when looking for the very best credit card available.
What Are the Best Credit Cards Available Right Now?
The answer is, it depends! Just like a retail store is always offering new merchandise and “special sales and deals,” credit card companies are always coming out with new offers, specials, and benefits. The key to finding the best credit card, is to compare credit card offers regularly.
A great tool is our credit card comparison tool. On this tool, you can find the latest credit card offers and advertisements by some of the top credit card companies.