How to Pick the Best Credit Card?

1. How To Pick The Best Credit Card

2. • Credit cards have become a very popular way to meet immediate financial expenses. There are many companies that offer a number of benefits with their credit cards. And even exciting credit cards are available for bad credit. • As per a data released by the American Banking Association in April 2018, there were 364 million credit card accounts in the USA by the end of 2017. 185 million accounts belong to the super-prime consumers whereas 104 million accounts belong to prime consumers and 75 million credit cards are used by sub-prime users.

3. Key points to consider before applying for a credit card To know which credit card is best for you, you must keep the following into consideration before opting for one: • What are you expecting from your credit card- Well, credit card companies offer you cards for different purposes, for example, you have a credit card for travel, cards for entertainment, cards for dining, credit cards that have no charges on foreign transactions and much more. So, before you apply for your best credit cards, it is important that you must first check your requirement and based on it, prepare a list of credit cards that will be in your best interest.

4. • Do you really need a credit card- Many a time it happens that we get going with the flow and since everyone around us is buying credit cards, we also do the same. But this decision may often leave you with the burden of repayment. The credit card comes with repayment and interest rate, so you must first check whether or not you would be able to repay the same or else holding a credit card becomes a liability. This sometimes increases so much that the credit card holder has to take a loan to clear it off. • Credit Score- Before filling out the credit card application; make sure you check your credit score. Companies issuing credit cards often consider credit score before they decide to offer you credit card. Once you know your credit score, you can apply for the credit cards which are likely to get approved.

5. Benefits offered by the cards- Credit card offers are lucrative, some come with competitive interest rates, and some have no annual charges, while there are some which have an impressive reward points system. Make sure that while shortlisting the cards, you consider all these points and then come to a conclusion. The interest rate- APR or Annual Percentage Rate is the interest rate that a credit card has. It can be fixed or variable which is tied to another financial indicator, mostly prime rate. The fixed interest rate credit card is the same from month to month while with a variable interest rate, it fluctuates. Think for the one which will be helpful for you and apply for the same. Credit limit- If you are a person who actively uses a credit card, then the credit limit plays a key role in the same. Some cards offer a limited range while there are cards that have a higher credit limit. Remember, overspending will put you under the burden of repayment and if it is not done on time, then you may be charged penalty and it will also affect your credit score

6. Cashback- This is another lucrative deal that credit cards offer. You get the money refunded based on how much you spend. But, first, you need to check whether or not you qualify for the credit card offer or cash back. An important point to note here is that the card will have cash back only when you pay the balance in full each month. Fees and penalties- One of the most important factors that you must consider before choosing a credit card is to see the fees and penalties. Some of the common charges that you must look at include fees for transactions, cash advances, balance transfers, overseas transaction cost, fees for duplicate statement, card replacement fees, cash withdrawal on credit card, card replacement fee, etc. Most of the credit card companies lure you with their offerings and in a hurry to get the card, we tend to ignore these charges. So, don’t make haste while choosing the card, ask the company about the same.

7. Advanced Features- See if the credit card company you are choosing is ready to provide you with the advanced feature for card protection like electronic chip protection, bio-metric cards, no duplicate holograms, anti-phishing and online fraud system. Balance Transfer- While choosing credit, apart from the above-mentioned factors, you need to also consider the balance transfer feature offered by the card. Some of the key factors that you must consider include: • The current rate of payment • Ask the credit card company provider if they have an introductory APR offer • What would be the rate you need to pay after introductory APR offer expires. • Is there any fee that you need to pay when you transfer all or a part of your balance to the new card. This is also known as balance transfer fee.

8. Most Popular Credit Cards For 2019 S.No. Key Feature Name of the Card Annual Fee APR •This is an excellent card for those looking for reward points. •For every $1 spent on travel, you will earn 1 point. •You will also make 1 point per $1 spent on other purchases. •You also earn 25% more when redeem the points while through this card. There is no annual fee for the first year, and then the user has to pay $95 per year. 1 Chase Preferred® Card Sapphire 17.99%–24.99% (variable rate) you travelling

9. Name of the Card Annual Fee S.No. APR Key Feature •This is one of the best choices you are searching for the travelling card. •It allows transfer of miles to more than 10 associated making you earn the benefits. •The more you travel, the better are the rewards. •For every spent, you earn 1.25 miles. •You can these points by while paying for purchases on the card. when airlines There is no annual fee for the first year, and then the user has to pay $95 per year. Capital Venture® Credit Card One® 14.24%, 26.24%, the interest rate depends on the credit score of the user. 22.74% or Rewards 2 dollar redeem

10. S.No. Name of the Card Annual Fee APR Key Feature •This card entitles you to get complimentary airport lounge visits every year after you make one-time signup with Priority Select. •The user also gets to earn a weakened stay after he/she has spent $15,000 on the card in a year. 10 IHG® Premier Credit Card Rewards Club 17.99% (Variablerate) - 24.99% 3 $89 Pass™ •This card offers no foreign transaction fees. •The card also enables the user preferred boarding on American Flights. •You can also save 25% on the food and beverages purchased in the flight. Citi® Platinum World Mastercard® / Advantage® Select® Elite™ to enjoy 18.24% based creditworthiness to on 26.24% your The user needs to pay $99 for the first year. 4 Airline

11. S.No. Annual Fee APR Name of the Card Key Feature •The card lets the user earn 2 points per dollar spent with Southwest Airlines and with Rapid Rewards airline. •You get a 20% rebate on inflight done using this card. •You can earn 40,000 points on $1000 in the first three months of purchasing the card. •If you are looking for a card that offers good cash back offers, then Discover it Cash back cards are the best. •The card offers 5% cash back on categories. •These categories keep on changing quarter. •This 5% cash back rate is limited to the first $1500 purchases. Southwest Rewards® Priority Credit Card Rapid $149 17.99% (Variable rate) - 24.99% 5 purchase spending 13.99% (Variable rate) - 24.99% various 6 Discover it® Cash Back No Annual Fee every

12. S.No. Name of the Card Annual Fee APR Key Feature •This no annual fee credit card is the best for those who are interest payment relief. •It is one of the best choices that you can make for balance transfer. •While other cards may charge you with a fee for a balance transfer, the Chase Slate card balance transfer the first 60 opening of your account. looking for 16.74% - 25.49% (Variable rate) 7 Chase Slate® No Annual Fee offers free during days of •This card is the best for the students as it offers 5% cash back on various categories through year. Discover it® Student Cash Back 8 14.99% - 23.99% Variable No Annual Fee the •No you get to earn 30K bonus points when you spend $3,000 in purchases in the first 3 months. •This 3X point works for dining out, rideshares and transits. •The user also earns 1X points for other purchases Wells American Express® Card Fargo Propel 9 14.74% - 27.24% variable No Annual Fees gas station

13. S.No. Name of the Card Annual Fee APR Key Feature •If you are looking for a card that charges no late and penalty fees, then Citi Simplicity card excellent choice. •The user gets 1.5% cash back on every purchase. •You also get to make $150 bonus spending $500 on the purchases done in the first three account opening. •This is again an excellent choice for those who are looking for cash back and rewards. •The card lets you earn one-time $500 cash back on purchase of $3000 in the first three months. •Moreover, you can make 4% cash back on dining and entertainment, and the card offers 2% cash back on purchases and 1% on all other purchases. 10 Citi Simplicity® Card 16.24% - 26.24% variable No Annual Fees is an Chase Unlimited® Freedom after 11 16.99% - 25.74% variable No Annual Fee months of Capital One® Savor® Cash Rewards Credit Card 12 16.74% - 25.74% variable $95, waived first year grocery

14. Name of the Card Annual Fee APR Key Feature S.No. •Get credit after you spend $1,000 in the first three months of getting the card. •You also get 2% cash back at U.S. gas stations 1% back purchases. •For the travelling this is a good choice. •It lets you earn 1.5 points for every dollar spent on all the purchases. •The card doesn’t charges any foreign fees and also the points don’t expire. •Those who are looking for business credit card, getting Ink Unlimited credit card is a good choice. •You can earn a bonus of $500 after $3000 on the purchases done in the first three months of opening of account. •You also earn 1.5% cash back on every purchase done for your business. $150 statement Blue Cash Everyday® Card from American Express 13 15.24% - 26.24% variable No Annual Fee on other lovers of Bank of America® Travel Rewards credit card 16.99% - 24.99% (Variable rate) 14 No Annual Fee transaction Business Ink Business Unlimited℠ Credit Card 15.24% - 21.24% (Variable rate) spending 15 No Annual Fee