Best of

Best Free Credit Score Sites for Each Bureau

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The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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When’s the last time you checked your credit score? If you’re like most Americans, it’s probably been a while since you’ve last looked at it.

A part of the problem is getting your credit score for free hasn’t always been simple. Even if people want to know their score, they’re not sure where to go, or they don’t want to pay to get their report from myFICO.

Recently, there has been a push for banks and credit card companies to give consumers access to their credit score – for free. This was largely spurred by a speech the President gave regarding privacy and identity theft back in January. He mentioned the importance of giving consumers their credit score as a way for them to stay informed on their activity, and banks have been responding.

Why is your credit score important? Monitoring your credit score can arm you against the risk of fraud, because you’ll be alerted whenever a new account is opened using your information. Your credit score is also an important factor when applying for a loan, as your interest rate is largely determined by your credit score.

We’re going to take a look at the best websites you can use to get your credit score for free, and some of them do offer credit reports as well.

Keep in mind that these free websites measure credit differently – so if you check your credit score at one site, and it’s different from another, the discrepancy is due to the way lenders report your credit activity, and due to the fact there are 3 different credit bureaus, which are Experian, Equifax and TransUnion. They don’t all measure the same criteria.

Also, when you check your credit score using these sites, it’s considered a soft inquiry – not a hard inquiry – so it won’t affect your credit.

Ready to stay informed? Here are the best free credit check sites for the credit bureaus, and a list of banks and credit card companies that offer free credit scores to their customers.

CreditKarma – TransUnion

creditkarmaCreditKarma gives you your TransUnion credit score and report for free, and the report updates weekly so you can stay on top of it. You can also opt-in to their free credit and account monitoring services. If you do, you’ll receive an email alert whenever your credit score changes, and you’ll be notified whenever a new account is opened.

Additionally, CreditKarma is beginning to offer Equifax credit scores and reports. They’re the first company to offer dual reporting for free. They’re still rolling this feature out to users, so it’s not available to everyone yet, but it’s something worth considering if you want access to information from two credit bureaus instead of just one.

Quizzle – Equifax

QuizzleQuizzle’s tagline is “Don’t Guess, Know”, which epitomizes the movement to get consumers staying informed about their credit. Checking on your credit is just as important as checking on your bank accounts – it’s important to know (not guess) what’s going on, or you leave yourself at risk.

Quizzle offers a free VantageScore credit score and Equifax credit report, which is updated every 6 months. They update less frequently than the other two sites, but it’s still completely free, and their site is extremely user-friendly.

CreditSesame – TransUnion

creditsesameCreditSesame offers free monthly TransUnion credit score updates, a free $50,000 identity theft insurance and ID restoration help service, and a free credit monitoring service.

Their identity theft insurance is a new feature, and one that shouldn’t be overlooked. Again, a big part of why you should monitor your credit is to ensure that it’s not being tampered with. If you do experience fraud, CreditSesame has experts on hand that will help.

All three of these websites provide tools and information on bettering your credit score, and they’ll provide you with an analysis of your existing credit, giving you tips on how to either build or repair it.

They are also truly free services – you don’t have to enter your credit card information (there’s no free trials to keep track of). However, they do make money from advertising financial offers, and will try and sell you on those after they give you your credit report. Always do your due diligence – don’t sign up for services they recommend, as they’re not looking out for your best interests.

Credit.com – Experian/Vantage Score

Credit.com logoExperian used to offer access to your credit score via CreditSesame. Now, Experian is linked to Credit.com and the site offers free access to your Experian data as well as your VantageScore 3.0 (a scale ranging from 300-850). Credit.com offers free access to some of your credit report data and assigns you a credit report card letter grade.

Don’t Forget Banks and Credit Card Companies!

Some banks and credit card companies are providing their customers with their credit score on their statements. It’s a great perk to have, especially if you don’t want to sign up with one of the websites above.

If one of the banks or credit card companies you have aren’t listed here, don’t worry – more banks will be rolling out free credit score programs to their customers later this year.

Equifax

  • Citibank – You can get your free Equifax credit score if you have any Citibank branded credit card (it must have the logo on it). All you need to do is log into your account, click on your “Benefits” tab, and find the link to view your report. Your credit score is updated every month when you receive a new statement.
  • PenFed – Offers customers their Equifax score. You either need to have an active checking account, installment loan, or revolving line of credit with them to view your score. You can find it by logging on and clicking “Your FICO Score is Ready”.
  • DCU – You can get your Equifax score as long as you have a credit card or checking account with direct deposit. It’s updated monthly, and you’ll receive an invitation to view it online.

TransUnion

  • Barclaycard – Your TransUnion credit score is available with any credit card account. It’s updated monthly, and you can find it on your account summary page.
  • Discover – Offers customers with a FICO score based on their TransUnion credit report, which is available with any credit card account. You can find it on your account summary page, and it’s updated monthly.
  • Walmart – If you have a Walmart credit card or MasterCard, you’ll be able to receive your Transunion credit score for free. It’s updated monthly – just log into your account at walmart.com/creditlogin. You’ll have to opt-in to receive your monthly statements online.

Experian

  • ChaseChase Slate cardholders can get a monthly Experian FICO score.
  • USAA –  Customers can get the Experian vantage version of their FICO score. You just need to have a credit card account with them, and you’ll be able to view your score from your account online.
  • First National Bank of Omaha – Customers can get their Experian credit score as long as they have a credit card account with them. It’s available online and updated monthly.
  • American Heritage Federal Credit Union – Customers receive Experian credit scores monthly via the online portal.
  • American Express – American Express cardholders get access to their FICO 8 score from Experian via the online portal.

Now that you know exactly where you can go to get your credit score for free, what’s stopping you? Knowing your credit score is empowering – if you’re not happy with it, you can always take action to increase your credit.

Being in the dark isn’t going to help you when it comes to making financial decisions, especially if you’re looking to make any purchases in the near future. Having your credit score in good shape will help you secure better interest rates, which will save you money on any loans you take out in the future.

And don’t forget to keep an eye on your credit report from all three bureaus. You are entitled to one free credit report per year and can get it by going to annualcreditreport.com.

Need help rebuilding your credit report and score? Check out our Rebuilding Credit blog section.

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Best of, Earning Cashback

7 Best Cash Back Credit Cards for Dining Out in 2017

Advertiser Disclosure

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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Updated January 3, 2017

Getting a deal at your favorite restaurant doesn’t have to be restricted to happy hour or an early bird special. Thanks to certain credit cards rewarding restaurant spending, foodies can enjoy a good meal while cashing in on cash back anytime.

Even better, rewards earned can be redeemed for cash value so that you can enjoy your bonuses however you like- whether that’s with more restaurant spending, traveling the world, or simply paying off your every day expenses

After scouring our database of some 2,000 credit cards, here are Magnify Money’s top picks for best restaurant cash back rewards cards in 2017. 

WE RECOMMEND

Discover it® chrome

hromeWith this credit card, you can earn 2% cash back at restaurants (and gas stations), up to $1,000 in combined purchases every quarter, with no sign-up required. Discover will automatically match all the cash back you’ve earned at the end of your first year automatically. Imagine you spend $1,000 each quarter in restaurants over the next 12 months.

You would have spent $4,000. Your base cash back would be $80. At the end of your first year, you would get another $80 of cash back. That means you could earn up to $160 on $4,000 of restaurant spend during the first year (which is a strong 4% return on your spending). Matching only happens during the first year, and you have to pay on time and keep the account in good standing in order to get the match.

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UNLIMITED CASH BACK 

Chase AARP Visa – 3% Cash Back

1167_card.AARP_ChaseGet 3 percent cash back on all restaurant purchases with the Chase AARP Visa. While you must be 50 or over to enjoy most benefits of AARP membership, this cash back card is available to anyone who meets the credit score and qualification criteria (age not being one of them). The 3 percent cash back bonus applies to gas as well as restaurant spending, with all other purchases earning 1 percent cash back. There are no cash back limits and is no annual fee, so this card tops the list when it comes to restaurant rewards.

The information related to AARP Visa credit card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card.

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CASH BACK WITH LIMITS

Huntington Voice Credit Card – 3% Cash Back

175_card.175_card.Huntington_Voice_Credit_CardYou can earn 3 percent cash back, up to $2,000 every quarter, on a spending category of your choice with the Huntington Voice Credit Card. If you know you want indulge in dining out next quarter, just select “restaurants” to activate your bonus cash back. You’ll still earn 1 percent cash back on all other spending and not have to worry about an annual fee.

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SimplyCash Business Credit Card from American Express– 3% Cash Back

SimplyCash Business Credit Card from American ExpressLike the Huntington Voice card, the SimplyCash Business Credit Card allows users to choose their 3 percent cash back category. Additionally, card members get 5 percent cash back at office supply stores and wireless telephone service providers and 1 percent cash back on all other purchases. Bonus cash back is automatically credited to cardholder’s statements and capped at $25,000 annually. The card has no annual fee.

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Santander Bravo MasterCard– 3% Cash Back

697_card.697_card.SANTANDERBRAVOEarn 3 points (up to 15,000 points per quarter) for every dollar spent on gas, groceries and restaurants and 1 point per dollar on all other spending with the Santander Bravo MasterCard. Points can be redeemed for airline tickets or gift cards. 10,000 points= $100 gift card, which means cash back bonus categories are capped at $5,000 worth of spending per quarter. This card comes with an annual fee of $49.

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QUARTERLY CASH BACK

Discover it® Cashback Match(TM)  – up to 5% Cash Back
Discover it cash back credit cardIn addition to 1 percent cash back on every day spending, the Discover It card comes with quarterly 5 percent cash back bonus categories. From January until March 2017, the bonus categories are gas stations, ground transportation and wholesale clubs. However, restaurants have been a category in the past, and it is highly likely that it could be a category in the future. You must opt in to receive the quarterly cash back bonus boost. Earned cash back can then be redeemed as a statement credit, a deposit in your bank account, shopping on Amazon or even as a gift card to a large number of retailers. This card has no annual fee.

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Chase Freedom

Freedom154

Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases. 

Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening. There is a $0 annual fee. 

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New Mexico Educators Cash Rewards– 5 % Cash Back

new mexico cash rewardsThe New Mexico Educators Cash Rewards card is offered by Nusenda Credit Union (formerly the New Mexico Educators Credit Union) and provides 1 percent cash back on all purchases with no limit and 5 percent cash back on rotating categories each quarter, which includes restaurants from April to June and October to December of 2017. The bonus in rotating cash back categories is limited to $1,5000 in purchases per quarter. This card has no annual fee.

ARE THESE DEALS BEST FOR YOU?

Cash back rewards should only be pursued by responsible credit users who have no trouble paying off their balance on time and in full each and every month. If you’re a credit all-star who also has an affinity for dining out, these cash back cards will provide the best perks. If you carry a balance, check out our other picks for the best credit cards that can help you pay it down faster.

As always, check the fine print on each card before signing up, making special note of any fees. With those things in mind, decide which rewards structure best serves your typical spending activity and enjoy the benefit of cash back on all your restaurant spending.

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Balance Transfer, Best of, Pay Down My Debt

9 Best 0% APR Credit Card Offers – January 2017

Advertiser Disclosure

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

There are a lot of 0% APR credit card deals in your mailbox and online, but most of them slap you with a 3 to 4% fee just to make a transfer, and that can seriously eat into your savings.

At MagnifyMoney we like to find deals no one else is showing, and we’ve searched hundreds of balance transfer credit card offers to find the banks and credit unions that ANYONE CAN JOIN which offer great 0% interest credit card deals AND no balance transfer fees. We’ve hand-picked them here.

If one 0% APR credit card doesn’t give you a big enough credit line you can try another bank or credit union for the rest of your debt. With several no fee options it’s not hard to avoid transfer fees even if you have a large balance to deal with.

1. Chase Slate® – 0% Introductory APR for 15 months, $0 Introductory Balance Transfer FEE

ChaseSlateScreenThis deal is easy to find – Chase is one of the biggest banks and makes this credit card deal well known. Save with a $0 introductory balance transfer fee, 0% introductory APR for 15 months on purchases and balance transfers, and $0 annual fee. Plus, receive your Monthly FICO® Score for free.

You can get this offer if you complete the balance transfer within 60 days of opening the account. So it’s worth a shot to see how big of a credit line you get. If it’s not enough, move on to the other options below.

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2. Alliant Credit Union Credit Cards – 0% APR for 12 months, NO FEE

Alliant is an easy credit union to work with because you don’t have to be a Alliant Visa Platinum Credit Cardsmember to apply and find out if you qualify for the 0% APR deal.

Just choose ‘not a member’ when you apply and if you are approved you’ll then be able to become a member of the credit union to finish opening your account.

Alliant Credit Union

Anyone can become a member of Alliant by making a $10 donation to Foster Care to Success.

If your credit isn’t great, you might not get a 0% rate – rates for transfers are as high as 5.99%, so make sure you double check the rate you receive before opening the account, and they might ask for additional documents like your pay stubs to verify the information on your application.

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3. Edward Jones World MasterCard – 0% APR for 12 months, NO FEE

edwardjonesYou’ll need to go to an Edward Jones branch to open up an account first if you want this deal. Edward Jones is an investment advisory company, so they’ll want to have a conversation about your retirement needs.

But you don’t need to have money in stocks to be a customer of Edward Jones and try to get this card. Just beware that you only have 30 days to complete your transfer to lock in the 0% rate.

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4. First Tech Choice Rewards – 0% APR for 12 months, NO FEE

firsttechrewardsAnyone can join First Tech Federal Credit Union by becoming a member of the Financial Fitness Association for $8, or the Computer History Museum for $15. You can apply for the card without joining first. This introductory 0% for 12 months on balance transfers with no fee deal is for the First Tech Choice Rewards World MasterCard, and you also get 10,000 points for opening the card (no spending required). The points don’t expire as long as you have the card, and 6,000 points is enough for $50 cash back, while 11,000 points is enough for $100 cash back, which can help you pay down your card.

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5. La Capitol Federal Credit Union – 0% APR for 12 months, NO FEE

La Capitol Federal Credit UnionAnyone can join La Capitol Federal Credit Union by becoming a member of the Louisiana Association for Personal Financial Achievement, which costs $20. Just indicate that’s how you want to be eligible when you apply for the card – no need to join before you apply. And La Capitol accepts members from all across the country, so you don’t have to live in Louisiana to take advantage of this deal on the Prime Plus card.

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6. Quorum Federal Credit Union – 0% APR for 12 months, NO FEE

Quorum Federal Credit UnionQuorum is a New York based credit union anyone can join by joining the Select Savers Club during the application process – just choose ”I would like to join through an association” on the application page. All of Quorum’s credit cards offer the 0% for 12 months with no fee deal.

Just be aware the 12 months starts from when your account opens, not when you make the transfer, so if you wait a month to do the transfer, you’ll only get the zero deal for 11 months.

And the 0% deal isn’t prominent on the Quorum site, you’ll see it buried in the fine print. Look for the sentence “The introductory purchase and balance transfer APR is 0% for 12 months from account opening and applies to ALL Quorum MasterCard credit cards” at the very bottom of their page.

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7. Purdue Federal Credit Union – 0% APR for 12 months, NO FEE

purdue-credit-union-visaThe Purdue Federal Credit Union doesn’t have open membership, but one way to be eligible for credit union membership is to join the Purdue University Alumni Association as a Friend of the University. Anyone can join the association, but it costs $50. The minimum credit line on the Visa Signature card offering 0% is $5,000, so if approved the $50 would be like a transfer fee of 1% or less. The good news is you can apply and get a decision before you become a member of the Alumni Association.

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8. Logix Credit Union Credit Card – 0% APR for 12 months , NO FEE

If you live in AZ, CA, DC, MA, MD, ME, NH, NV, or VA you can join Logix Credit Union and apply for this deal. Some applicants have reported credit lines of $15,000 or more for balance transfers, so if you have excellent credit, good income, but a large amount to pay off (like a home equity line), this could be a good option.

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9. First Tennessee Bank Credit Card – 0% APR for 12 months, NO FEE

If you want to apply online for this deal, you’ll need to live in a state where First Tennessee Bank Credit CardFirst Tennessee has a branch though. Those states are: Tennessee, Florida, Georgia, Mississippi, North Carolina, and South Carolina.

You need to have an existing First Tennessee account to apply online, but if you don’t have one, you can print out an application and mail it into their office to get a decision. You’ll find a link to the paper application when the online form asks you whether you have an account or not.

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10. DCU Credit Union Visa Platinum – 0% APR until July 2017, NO FEE

This deal is valid for transfers between January 1 and January 31, 2017 for the DCU Platinum or Platinum Rewards Visa.

DCU lets you process transfer requests online once you’ve opened your account, even using its mobile app.

You’ll have a choice to apply for the DCU Visa Platinum or Visa Platinum Rewards. The Platinum without rewards has a lower ongoing APR, starting as low as 9.00%, compared to 11.75% for the Platinum Rewards card, so if you’re not sure you’ll pay it all off by July the Platinum without rewards is a better bet.

Anyone can join DCU by becoming a member or Reach Out for Schools for $10, and you can join the organization when you open your membership.

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11. Aspire Credit Union Credit Card – 0% APR for 6 months, NO FEE

You don’t have to be a member to apply and get a decision from Aspire. Once youAspire Credit Union Credit Card do, Aspire is easy to join – just check that you want to join the American Consumer Council (free) while filling out your membership application online.

Make sure you apply for the regular ‘Platinum’ card, and not the ‘Platinum Rewards’ card, which doesn’t offer the introductory deal.

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12. Elements Financial Credit Card – 0% APR for 6 months, NO FEE

Elements Financial Credit CardTo become a member and apply, you’ll just need to join TruDirection, a financial literacy organization. It costs just $5 and you can join as part of the application process.

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13. Justice Federal Credit Union – 0% APR for 6 months, NO FEE

Justice Federal Credit UnionIf you’re not a Department of Justice, Homeland Security, or U.S. court employee (or a few others), you need to join a law enforcement organization to be a member of Justice Federal. One of the eligible associations for membership is the National Native American Law Enforcement Association. It costs $15 to join.

You can apply as a non-member online to get a decision before joining. And Justice is unique in that its Student credit card is also eligible for the 0% no fee deal, so if your credit history is limited and you’re trying to deal with a balance on your very first card, this could be an option.

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14. Xcel Platinum Visa – 0% APR for 6 months, NO FEE

Xcel Platinum Visa credit cardAnyone can join Xcel by becoming a member of the American Consumer Council, and you can apply for the card as a non-member of the credit union, but not everyone who is approved for the card will get the low intro rate. Xcel advises you contact them to get as sense of whether your income, credit history, and employment history will qualify for the intro rate.

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Are these the best deals for you?

If you can pay off your debt within the 0% period, then yes, a no fee 0% balance transfer credit card is your absolute best bet. And if you can’t, you can hope that other 0% deals will be around to switch again.

But if you’re unsure, you might want to consider…

  • A deal that has a longer period before the rate goes up. In that case, a balance transfer fee could be worth it to lock in a 0% rate for longer.
  • Or, a card with a rate a little above 0% that could lock you into a low rate even longer.

The good news is we can figure it out for you.

Our handy, free balance transfer tool lets you input how much debt you have, and how much of a monthly payment you can afford. It will run the numbers to show you which offers will save you the most for the longest period of time.

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The savings from just one balance transfer can be substantial.

Let’s say you have $5,000 in credit card debt, you’re paying 18% in interest, and can afford to pay $200 a month on it. Here’s what you can save with a 0% deal:

  • 18%: It will take 32 months to pay off, with $1,312 in interest paid.
  • 0% for 12 months: You’ll pay it off in 28 months, with just $502 in interest, saving you $810 in cash. That even assumes your rate goes back up to 18% after 12 months!

But your rate doesn’t have to go up after 12 months. If you pay everything on time and maintain good credit, there’s a great chance you’ll be able to shop around and find another bank willing to offer you 0% interest again, letting you pay it off even faster.

Before you do any balance transfer though, make sure you follow these 6 golden rules of balance transfer success:

  • Never use the card for spending. You are only ready to do a balance transfer once you’ve gotten your budget in order and are no longer spending more than you earn. This card should never be used for new purchases, as it’s possible you’ll get charged a higher rate on those purchases.
  • Have a plan for the end of the promotional period. Make sure you set a reminder on your phone calendar about a month or so before your promotional period ends so you can shop around for a low rate from another bank.
  • Don’t try to transfer debt between two cards of the same bank. It won’t work. Balance transfer deals are meant to ‘steal’ your balance from a competing bank, not lower your rate from the same bank. So if you have a Chase Freedom with a high rate, don’t apply for another Chase card like a Chase Slate and expect you can transfer the balance. Apply for one from another bank.
  • Get that transfer done within 60 days. Otherwise your promotional deal may expire unused.
  • Never use a card at an ATM. You should never use the card for spending, and getting cash is incredibly expensive. Just don’t do it with this or any credit card.
  • Always pay on time. If you pay more than 30 days late your credit will be hurt, your rate may go up, and you may find it harder to find good deals in the future. Only do balance transfers if you’re ready to pay at least the minimum due on time, every time.

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Best of, Earning Cashback

The Best Cash Back Credit Cards for Every Category – 3% and More in 2017

Advertiser Disclosure

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

credit card and dollar close-up

MagnifyMoney keeps a database of over 2,000 credit cards and their features, including cash back cards you can compare with our tool. We used it to find the absolute highest cash back rewards you can earn in each category, more than the standard 1-2% you usually see.

If you’re ready for cash back there are over 25 categories where you can earn 3% or more in pure cash back on your credit card purchases.

Scroll down and you’ll find links to the best cash back credit cards we’ve found that earn more than 2% cash back in special categories. These are cards that let you get pure cash value, not complicated points that can be used only for travel.

Before you dig into categories, every cash rewards wallet should have one of these two no fee cards, with double cash back on everything you spend:

Fidelity Rewards Visa721_card.Citi_double

 

 

 

Once you have the Citi Double Cash or Fidelity Visa, you can add other cards that earn more than 2% in special categories to really boost your cash rewards.

The best cash back credit cards with no limit rewards

Maybe you don’t want to mess with rotating categories or remembering limits on cash back. If that’s you, there are only a handful of cards that you need to carry to get the most in totally unlimited cash back.

As you’ll learn below, you may be leaving about $500 a year or more on the table by not holding at least some of these cards.

They are all no annual fee cards, and they ensure you will earn more than 2% cash back on your total spending with absolutely no limits. Some cards have higher cash back rates with limits, and you can see those below this list in our review of cards for each category

378_card.378_card.PenFed_Premium_Travel_Rewards_American_Express_CardAirfare: PenFed Premium Travel Rewards – 4.25%

This card advertises 5x points on airfare, but there is a bit of a catch. When you redeem the points it earns for the closest thing to cash, a prepaid Visa card, your points are worth about 0.8 cents each, so that 5x points is really about 4.25% cash back on your airfare spending.

Travel: AAA Member Rewards Visa – 3%AAAmembervisaCard

While the PenFed Premium Travel Rewards wins for airfare spending, the AAA Member Rewards Visa offers 3% back on airfare, plus  all kinds of travel, including hotels, car rentals, and cruises. You don’t have to be a AAA member to get the card.

349_card.349_card.PenFed_Platinum_Rewards_Visa_Signature_CardSupermarkets: PenFed Platinum Rewards – 2.55%

The card earns 3x points on supermarkets, but the points are worth about 0.85 cents each when you redeem them for a prepaid Visa gift card, so the real unlimited cash back rate is about 2.55%.

If you spend less than $6,000 a year ($500 a month) on groceries, then the Amex Blue Cash Preferred offers 6% back on the first $6,000 each year. The $95 annual fee on this card is a better deal vs the PenFed Card if you spend about $3,000 a year in groceries (about $250 a month).

Note that if you live in California, you may earn 3% unlimited cash back on groceries with the Platinum Rewards card from Golden 1 Credit Union.

Gas: Fort Knox Credit Union Platinum Visa – 5%

You might not have heard of this credit union, but anyone can join. fortknoxcuYou just need to pay $5 to join the American Consumer Council / Kentucky and you’re    eligible.

The PenFed Platinum Cash Rewards Visa also offers 5% unlimited at the pump, but you have to have a qualifying account like a checking account with direct deposit or mortgage to get the 5% rate.

1167_card.AARP_ChaseDining: Chase AARP Visa – 3%

You don’t have to be 55+ to hold this card, it’s available to anyone who is interested and meets the credit standards. So you can enjoy your ‘senior discount’ on dining any time.

(The information related to the AARP Visa and Chase Ink Cash Business credit cards has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of these cards.)

Everything else: Citi Double Cash (up to  1% + 1%) or Fidelity Investment Rewards Visa (2%) 

If you have a military affiliation, USAA offers some members the USAA Limitless cash back card, with 2.5% unlimited cash back if you make $1,000 a month in direct deposits to USAA. This card is only targeted to select members, so you won’t see it advertised on their website and no guarantees you will be offered the card.

Or if you live in California, the JCB Marukai Premium card gives you 3% cash back on all purchases beyond $3,000 in yearly spending.

Just mark each of the cards you pick in your wallet with a sticker for each category so you remember which to use, and you’ll rack up lots of cash with minimal hassle. And afraid to have more than one card? Well if you’re responsible with credit, a few additional inquiries might have less of an impact than you think. See our experience with scores and getting several cards for the rewards.

For unlimited retailer-specific discounts, also consider:

If you want to maximize absolutely everything, read on…

We’ve organized cash back cards for each of the over 25 spending categories that are currently eligible for more than 2% in cash back rewards.

They include both year round and quarterly rotating categories like those on the Discover It. Pick the categories that matter most to you, and you’ll see the opportunities you have to earn 3-5% if you’re willing to keep track of some limits and quarterly changes.

Remember, these are all cards that let you earn cash value rewards, with no restriction on where you spend the rewards, unlike travel points.

You’ll find three flavors of cash back rewards, in the order of hassle factor:

  • Unlimited cash back – This is the simplest form. You usually won’t find the very highest 5%+ rewards this way, but we’ve found some great cards that get you 3% or more in some popular categories.
  • Cash back with limits – This is where a card limits the cash back you earn by putting a cap on the spending which earns the cash back in the specific category, on a combination of categories, or the card as a whole.
  • Quarterly rotating categories – These are the cards with the big headline 5% rates. Don’t be fooled. While you can earn the 5% rate, you may have to opt in to categories each quarter manually and be hit with caps on how much you can earn.

Advertising Services

With Limits

3%: SimplyCash Business Credit Card from American Express – up to $25,000 in purchases in bonus categories

Airfare

Unlimited

With limits

  • 3% – Huntington Voice – up to $2,000 in spending a quarter in one category of your choice

Quarterly category in 2017

  • 5%: Nusenda Cash Rewards – Oct – Dec – up to $1,500 – Anyone can join the Nusenda Credit Union (formerly the New Mexico Educators Credit Union) by becoming a member of the La Montanita Food Co-op.

Amazon.com

Unlimited

5% Quarterly Category in 2017

  • 5%: Discover it – up to $1,500 – dates to be determined

Book stores

With limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose

Car Rentals

Unlimited

With limits

Cell phone

With limits

Cable / Satellite / Landline Phone / Internet

Clothing Stores

With limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose
  • 3%: Huntington Voice – up to $2,000 in spending a quarter in one category of your choice

Commuting, Taxis

Unlimited

Quarterly category in 2017

Department Stores

Unlimited

With limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose
  • 3%: Huntington Voice – up to $2,000 in spending a quarter in one category of your choice

Quarterly category in 2017

  • 5%: Citi Dividend – October – December – up to $300 total cash back on card (no longer open to new applicants)

Discount stores

  • 3%: Huntington Voice – up to $2,000 in spending a quarter in one category of your choice

Drug stores

With limits

Education

Quarterly category in 2017

  • 5%: Nusenda Cash Rewards – July – Sept – up to $1,500 – Anyone can join the Nusenda Credit Union (formerly the New Mexico Educators Credit Union) by becoming a member of the La Montanita Food Co-op.

Electronics

With limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose
  • 3%: Huntington Voice – up to $2,000 in spending a quarter in one category of your choice

Quarterly category in 2017

  • 5%: (Best Buy only) Citi Dividend – October – December – up to $300 total cash back on card (no longer open to new applicants)

Furniture

With Limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose

Quarterly Category in 2017

  • 5%: Citi Dividend – January – March – up to $300 total cash back on card (no longer open to new applicants)

Gas

Unlimited

With limits

Quarterly category in 2017

Grocery Stores

Unlimited

With limits

Quarterly category in 2017

Gyms

With Limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose

Home improvement

No limits

With limits

  • 3%: Huntington Voice – up to $2,000 in spending a quarter in one category of your choice

Quarterly category in 2017

  • 5%: Nusenda Cash Rewards – April – June – up to $1,500
  • 5%: (Home Depot only) Citi Dividend – January – March – up to $300 total cash back on card (no longer open to new applicants)
  • 5%: Discover it – up to $1,500 – July – September

Hotels

Unlimited

With limits

Quarterly category in 2017

  • 5% – New Mexico Educators Cash Rewards – Oct – Dec – up to $1,500
  • 5%: (Hilton Hotels only) Citi Dividend – July – September – up to $300 total cash back on card (no longer open to new applicants)

Movie Theaters

With Limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose

Quarterly category in 2017

Office Supply Stores

With limits

Online Retail

Unlimited

Restaurants

Unlimited

With Limits

Quarterly category in 2017

Shipping

Sports

With limits

Target

Unlimited

Trains, Cruises, Other Vacation

Unlimited

With limits

Utilities

  • 3%: Huntington Voice – up to $2,000 in spending a quarter in one category of your choice

Walmart

  • 3%: Huntington Voice – up to $2,000 in spending a quarter in one category of your choice

Warehouse Clubs

 

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Best of, Earning Cashback

Best Cash Back Cards for Grocery Shopping in 2017

Advertiser Disclosure

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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Shopping for groceries typically does not rank highly on the to-do list. Unless the excitement stems from sampling the foods at the demo stations, grocery shopping just is not thrilling. Cash back on the other hand, that’s worth getting pumped up over. Now you can inject some enthusiasm into a rather mundane task by using one of the best cash back cards for grocery shopping.

Unlimited Cash Back

PenFed Platinum Rewards – 2.55%

349_card.349_card.PenFed_Platinum_Rewards_Visa_Signature_CardWith unlimited cash back on groceries, this card can certainly help reduce the overall grocery budget. If you spend about $700 a month on average for groceries, this reward equals about an $18 cash back reward. That does not seem like much, but it means an extra $216 in a year. Tuck that away in a top saving accounts with a 1.00% interest rate, and you can pad your earnings even more.

Caveat: PenFed is a credit union, so you must first become a member of the credit union in order to be eligible. Fortunately, anyone can join by making a one-time donation to National Military Family Association ($15) or Voices for America’s Troops ($14).

If you live in California. The Golden 1 Credit Union offers a no annual fee card with unlimited 3% cash back on groceries.

Cash Back with Limits

Amex Blue Cash Preferred – 6%

695_card.695_card.Blue-Cash-Preferred-Card-from-American-ExpressIf you spend $600 or less per month on groceries, then the American Express Blue Cash Preferred card may the best choice for you. The Amex Blue Cash Preferred offers 6% cash back on groceries and 1% on everything else. The annual cap is $6,000 for grocery spending. That’s an average of $500 a month in grocery spend. You would earn $30 a month just in the groceries category. That’s an extra $360 just from cash back. Plus, there is a $150 bonus when you open the card and spend $1,000 in the first three months. That’s $510 of cash back in year one, before the annual fee.

Caveat: There is a $95 annual fee. With the right spending, this fee is easily covered by the rewards. However, if you allow the card to collect dust in your wallet, the fee is an unnecessary expense.

NUSENDA Credit Union Visa Platinum Rewards – 5%

This Visa Platinum Rewards card offers 5% cash back in rotating categories each quarter.

From January – March, groceries are one of the 5% categories. You can earn 5% back on up to $1,500 in purchases a quarter, and there’s no annual fee for the card. Anyone can become a member of NUSENDA – just ask about it when you apply.

Consumers Credit Union Visa Signature Cash Rebate Card – 3%

Consumers Credit UnionThis Visa Signature cash back card from Consumers Credit Union offers credit union members 3% cash back for grocery and convenience store purchases. However, anyone can become a member of the credit union by paying a one-time, non-refundable $5 fee to CCU’s sponsor, the Consumers Cooperative Association, and then depositing and maintaining a minimum $5 in a Membership Share/Savings Account. The card also gives 2% for gas purchases and 1% for all other purchases. There is a $100 bonus for making $1,000 worth of purchases in the first 60 days.

Caveat: There is a cash back maximum of $6,000 per year, which, if you were spending in groceries only, would equate to $200,000 of spending. And the cash back is credited to the VISA each month, preventing you from depositing that cash and earning interest.

Huntington Voice – 3%

175_card.175_card.Huntington_Voice_Credit_CardThe Huntington voice card allows you to boost your earnings and choose your 3% cash back category. In this case, you could choose grocery spending and earn up to 6,000 points ($2,000 of spending) equaling $60 back per quarter. If you spend $2,000 a quarter (every 4 months) on groceries, you could earn up to $240 a year. Cash rewards work out to 1% for all other non-boosted categories.

Caveat: The ability to change categories and the point system can get a little confusing. Don’t hesitate to call Huntington if you need an explanation on your account.

Amex Blue Cash Everyday – 3%

381_card.205_card.blue_Cash_Everyday_Card_from_American_ExpressThis Amex card comes with no annual fee and a $125 bonus after the first $1,000 spent within 90 days. For grocery spending up to $6,000, you’ll earn 3% and if you go over $6,000 you will still earn 1% on all grocery spending. That’s a potential to earn $305 in year one. The card also offers an unlimited 2% on gas spending and select department stores.

Caveat: The bonus cash back in grocery stores and gas merchants depends on the merchant category code. If you buy groceries at Wal-Mart, Target, and Amazon be aware that these retailers do not count as supermarkets.

Santander Bravo – 3%

697_card.697_card.SANTANDERBRAVOThe Santander Bravo card offers a $100 bonus after the first $1,000 spent within 90 days. You will also earn up to 15,000 points ($5,000 of spending) per quarter for grocery, gas station, and restaurant spending. This works out to a 3% cash back rate and the potential to earn $600 a year. The points can be redeemed for gift cards and airline tickets.

Tip: The 3% only applies to the first $5,000 spent per quarter, around $1,700 per month. There is also an annual fee of $49.

BankAmericard Cash Rewards – 2%

161_card.161_card.U.S._Pride_BankAmericard_Cash_Rewards_Visa_cardThe BankAmericard cash rewards card from Bank of America offers 2% cash back on grocery spending up to $1,500 per quarter. There is no annual fee and you can redeem this cash directly into a Bank of America checking or saving account. The card also offers 3% on gas related spending. The rewards never expire and if you apply online and spend $500 in the first 90 days, you also receive a $100 cash rewards bonus.

Caveat: The $1,500 limit per quarter applies to both grocery and gas spending. After you hit that limit, all other purchases earn 1% cash back.

Last Piece of Advice

Make sure your grocery store is included as an appropriate merchant by a company before applying for one of these credit cards. You don’t want to think you’re earning 6% back and then realize it doesn’t report as a grocery store to your credit card company!

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Best of, Reviews

10 Best NO FEE Rewards Credit Cards of 2017

Advertiser Disclosure

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

There are an abundance of no fee rewards credit cards available, so how do you best determine which one to keep in your wallet? Most earn a measly 1% on your spending, while others have no rewards at all. To help, we’ve dug deep into our database of thousands of rewards cards to find the very best no annual fee rewards credit cards of 2016 for each category.

While you might find rewards credit cards with an annual fee can give you the best rewards, we’re sticking to no fee cards that are available even if you don’t have truly excellent credit (good credit should be fine for most of these).

The first cards we list here offer unlimited double rewards on everything you purchase, while the remaining offer 3% or better rewards on spending in popular categories so you can mix and match to maximize your rewards, or they offer the chance for better earning if you use your rewards for travel.

1. Double Rewards on Everything, NO FEE – Citi Double Cash

721_card.Citi_doubleCiti offers you rewards twice. First, you get 1% cash back when you make a purchase. Then, you get another 1% cash back as you pay it off. All with no annual fee and no spending cap. If you pay off in full each month, you’ll get both rewards at the same time. That lets you earn rewards twice as good as standard reward cards.

If you like to maximize things and want to earn more rewards in special spending categories, consider pairing this with one of the no fee cards we list below.

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2. Honorable Mention: 2% Fidelity Rewards Visa Signature, NO FEE

fidelityrewardsvisaFidelity provides no annual fee 2% cash rewards on purchases if you deposit the cash you earn into a Fidelity account. But you don’t need to have any stocks or investments to have an account. Fidelity has no fee cash accounts where you can deposit your rewards, then withdrawal when you’re ready to spend. Be aware this card is designed for people with Excellent credit, while the Citi Double Cash might be easier to get.

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Both cards offer you the flexibility to earn double rewards on anything you purchase; so either one of these is a nice addition to a rewards strategy. The advantage of the Fidelity card over the Citi Double Cash is that its foreign transaction fees are just 1% versus 3% for the Double Cash. But setting up the Fidelity card and rewards is more cumbersome than the dead simple Citi Double Cash.

If you want to earn more than 2% rewards here’s a rundown of the best no fee rewards credit cards that earn 3% or more in the most popular categories. You can click on each category for our take and details:

And if you’re interested in traveling, here are the best no fee rewards credit card deals:

If you like to dig, we also have a complete (and long) list of cards that earn more than 3% on purchases in many more special categories, including cards with an annual fee.

3. Restaurant Spending: Chase AARP Visa – 3% Rewards, NO FEE

1167_cardAARPBychaseAlthough AARP is known for serving Baby Boomers, foodies of any age can sign up for this card – AARP membership not required. You get 3% cash rewards at restaurants as well as gas stations. You also earn 1% rewards on all other purchases.

The information related to AARP Visa credit card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card.

Learn more at AARP.org

4. Travel Spending: AAA Member Rewards Visa – 3% Rewards, NO FEE

340_card.340_card.AAA_Member_Rewards_Visa_Signature_CardNo need to be an AAA member to take advantage of this rewards card. You earn cash back when you shop at travel merchants including airlines, car rental agencies, hotels, cruise lines and travel agencies. Along with the 3% cash rewards for travel, you earn 2% cash rewards on gas, grocery and drugstore purchases. On everything else you get 1% rewards.

 

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5. Gas Spending: Fort Knox Credit Union Visa Platinum – 5% Rewards

fort-knox-visa-platinumSpend a lot of cash at the pump? The Fort Knox Credit Union Visa Platinum offers 5% cash back for gas. On all other retail purchases, you get 1% cash back. Anyone can join the Fort Knox Credit Union by becoming a member of the American Consumer Council for $5.

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6. Grocery Spending: Blue Cash Everyday from American Express – 3% Rewards

381_card.205_card.blue_Cash_Everyday_Card_from_American_ExpressThe Blue Cash Everyday from American Express offers 3% cash rewards on grocery store purchases up to $6,000 per year. You also get 2% rewards at gas stations and select department stores. On everything else you earn 1% rewards.

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7. Honorable Mention: Golden 1 Credit Union Platinum Rewards – Unlimited 3% Grocery Rewards

If you live in California, the Golden 1 Credit Union Platinum Rewards card will give ygolden1ou 3% cash rewards for purchases on groceries without the caps on the Blue Cash Everyday, along with gas and restaurants and 1% rewards on all other purchases. Also in California, the JCB Marukai Premium card offers unlimited 3% cash rewards on all purchases after your first $3,000 in spending each year. The catch is there’s a $15 annual fee on the card.

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5% Cash Rewards in Rotating Categories: NO FEE

Cards with a rotating reward program can give you 5% cash rewards with no annual fee, but you’re limited to spending in special categories each quarter and there’s a cap on how much spending earns the 5%. You also have to opt into the 5% cash back rewards program each quarter.

8. Chase Freedom – 5% in rotating categories, $0 ANNUAL FEE

Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases.

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9. Discover it® – 18 Month Balance Transfer Offer – 5% in rotating categories, NO FEE

Discover itWith Discover, you earn 5% cash back in categories that change each quarter up to the quarterly maximum (up to $1,500 of combined purchases) when you sign up. You also earn 1% cash back on all other purchases. You can redeem your cash back for any amount at any time. And your cash back never expires. Discover will match all the cash back you’ve earned at the end of your first year on the credit card – only for new cardmembers.

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10. Platinum Cash Rewards Visa from the Nusenda Credit Union – 5% in rotating categories, NO FEE

nusenda_logo5% cash rewards on groceries, gas expenses, movies, restaurants, home improvement, education and travel. This quarter, cardholders will earn cash back on restaurants, hotels and airfare purchases. There’s a cash back cap of $1,500 per quarter. Anyone can join the Nusenda Credit Union by donating $10 to the New Mexico Wilderness Alliance; contact a customer representative for details. The advantage of this card is that its categories tend to be more broad, and not store-specific like those on the Chase Freedom and Discover It, so it’s a great way to get you closer to 5% rewards on everything you spend.

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If you’re going to go through the effort of enrolling in a rewards program, consider all three cards to see which categories will benefit you the most. But, if you’re looking for freedom to spend without restrictions, sticking with the Citi Double Cash card may be your best simple bet.

Honorable mentions for travelers

No foreign transaction fees with plain cash back: Quicksilver from Capital One – 1.5% Rewards

Capital One's QuicksilverCapital One’s Quicksilver gives you 1.5% cash back on all purchases. And like all Capital One credit cards, there are no foreign transaction fees. Even though you earn less rewards than the Citi Double Cash or Fidelity American Express, this card is a better option for your international spending, since you avoid fees of 1 to 3%.

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Real airline miles: Amex EveryDay Card

The Amex Everyday Card is a no annual fee rewards credit card that earns Amex Membership Rewards points, which you can turn into real amexeverydayairline miles with several airlines, including Delta SkyMiles, Virgin Atlantic Flying Club, JetBlue True Blue, and Virgin America Elevate. It’s the only no annual fee card you can apply for online that can net you real Delta SkyMiles. When you want to convert points to Delta miles, just go to the Amex site, and transfer your points to Delta or the other participating airline programs any time.

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Points for travel on any airline: Bank of America Travel Rewards

bankofamericatravelrewardsThe Bank of America Travel Rewards card earns a base 1.5x points per dollar you spend, and you can use the points to erase travel purchases from your statement. Every 10,000 points is worth $100 when you use them for travel, so each point is worth one cent. Where the card gets interesting is if you’re a Bank of America customer with a checking, savings, or IRA account. If you are, you’ll get a 10% bonus on what you earn each year, so the card effectively earns you 1.65x points per dollar. Even better, if you’re a Platinum level member of Bank of America Preferred Rewards (which you get by keeping a lot of your money with them), you can earn up to 2.625x points per dollar, which is an incredible deal. There are also no foreign transaction fees to worry about.

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How can you get the most value from a rewards credit card?

In order to best benefit from no annual fee rewards credit cards, follow these tips:

  • Narrow your focus: Before choosing a no annual fee rewards credit card (or cards), take a look at your budget and several months’ worth of bank statements. Then, pick cards that’ll offer you the most cash back for things you already buy. You shouldn’t change your spending habits to match a rewards program.
  • Give your rewards cards a job: Don’t spread out your spending onto too many cards without a purpose or you risk making less cash back overall. Choose a few cards and assign them a job so you know what purchases to make on each one to maximize your cash back.
  • Don’t get overzealous: Rewards shouldn’t justify overspending, especially if you’re struggling with debt. It’s a reward for making legitimate purchases. After all, you won’t make enough back to put a big dent in your monthly statement. For instance, $2,500 spent on the Fidelity American Express card equals a $50 deposit. It’s a great perk, but it shouldn’t be your sole reason for buying something.
  • Read the fine print: Understand the implications of each rewards program. For the rotating category cards, you get a huge amount of cash back, but you’ll have to strategize your spending each quarter to earn it. And you have to enroll into the program by the deadline to qualify. Set a reminder on your smartphone or calendar if necessary. You don’t want to miss out on a cash back category for an entire quarter.

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Best of, Earning Cashback

10 Best 5% Cash Back Credit Cards for 2017

Advertiser Disclosure

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

Cash Back Credit Cards for 2016

Credit card reward programs come in so many varieties that it can be difficult find the best cards for your spending habits. A basic, flat-rate card that earns you a certain percentage cash back on all purchases is probably the simplest bet out there. Typically, rates range from 1-2%. Not shabby, especially if you use that card exclusively. But it’s not exactly something to call home about either.

There are even better cash back rewards offerings out there, some as high as 5%. But with these high rewards cards, there’s almost always a catch. Most of the cards don’t offer 5% cash back across the board. Every few months, they pick a few select shopping categories that can earn 5% cash back. Once those few months are up, the categories change. For example, a card could offer 5% cash back on groceries, gas and airfare from January to March, then switch those categories to whole sale stores, restaurants and gyms from April to June.

Additionally, there are sometimes caps on how much of your spending can qualify for the 5% reward. So if the cap is $1,500, for example, everything past that amount won’t qualify.

The key to maximizing these great cash back card offers is to find the cards that offer cash back in categories you use the most. We can help there.

We dug around and found 10 cards that offer at least 5% cash back in the three most common spending categories: gas, groceries and entertainment.

Chase Freedom®: Access to a Special Option 5% Category

How it works: The Chase Freedom® card offers 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. This translates to a maximum return of $75 per quarter on the 5% bonus category. You earn an unlimited 1% cash back on all other purchases outside of the bonus categories. You can also earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening.

The 5% category changes every quarter.

Another area where the Chase Freedom shines is in how it allows customers to redeem their rewards. The cash you’ve earned converts into Ultimate Rewards points. Every $1 equals 100 points. You only need to have earned $20 (or 2,000 points) in order to redeem your reward. You can easily use the cash and apply it to your monthly statement. Or you can convert them into points and use them on travel, gift cards, merchandise, and other services through the Chase Freedom® rewards dashboard.

They make it super simple to redeem points on the go through the Chase Freedom® Mobile app. While you’re shopping, you can pick the merchant from the list on of eligible merchants on your app (popular ones include Nike, Regal Cinemas, Lowe’s, Starbucks and Best Buy). Then tell the app how much cash you want to use.  You’ll get a custom e-gift card that you can present at checkout to pay for your purchases.

chasefreedommobileapp

Plus, you can stack the points earned on your Chase Freedom card with your points on other Chase rewards cards, like the Chase Sapphire. That just increases the spending power of your points.

The Fine Print: You can’t beat 5% cash back for your spending, especially with no annual fee. The downside is you have to remember to activate the category each quarter by subscribing to the program. But, if you set a reminder to do so, you can earn money without too much effort.

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Discover it: 5% Cash Back for the Big Spender

How it works: The Discover it offers 5% cash back on two different spending categories each quarter.  You earn 1% cash back on all other purchases outside of those categories.

Earn 5% cash back in these categories through the end of 2017:

  • January to March: Gas stations, ground transportation, and wholesale clubs.
  • April to June: TBA.
  • July to September: TBA.
  • October to December: TBA.

Using your rewards: Cash back from the Discover it is tracked in dollars and cents. You can immediately apply your cash back earnings to your bank account or as a statement credit toward your bill (note: your minimum payment will still be due).There’s also no minimum rewards value if you want to redeem them for charitable donations. However, if you want to redeem cash back for gift cards or eCertificates, you’ll have to wait until your balance reaches $20.   You can also leverage up on your rewards by purchasing available gift cards or eCertificates. For example, you can use $80 of Discover rewards to get a $100 gift card to Banana Republic.

The fine print: You can only earn 5% cash back on up to $1,500 spent in total across the two activated categories. Once you’ve hit that cap, you’ll earn 1% on the rest of your purchases. This adds up to a $75 maximum return on your rotating bonus categories. You can set up email alerts to be notified when it’s time to activate quarterly categories and will also be prompted when you log into your account. There is no annual fee.

Extra perks:  You can double your cash back if you stick with the card for at least one year. On your one-year anniversary, Discover it will match your cash back earnings for that year.

 

Discover it 18month BT card art

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BONUS OFFER COMPARISON: Chase Freedom vs Discover it: Discover’s offer to double all cash back earned in the first year can easily beat Chase’s $150 bonus after $500 of spend. However, this only holds true if you spend enough to earn more than $75 in cash back on the Discover it card within the year.

Nusenda Visa Platinum Cash Rewards: Best for Gas and Restaurants in 2017

How it works: The Nusenda Visa Platinum Cash Rewards card gives 5% in revolving categories up to $1,500 and 1% on all other purchases. Notably, it offers both gas and restaurants in two quarters. As a bonus in the first 90 days, new cardholders will earn 2% instead of just 1% on purchases outside of the 5% category.

Earn 5% cash back in these categories through the end of 2017:

  • January to March: Groceries and gas expenses.
  • April to June: Movies, restaurants and home improvement.
  • July to September: Gas and education expenses.
  • October to December: Restaurants, hotels, and airfares.

Using your rewards: This offer stands out as a decent companion card for maximizing cash back. When coupled with the Chase Freedom or Discover it, you can maximize cash back in different areas during one quarter.

For an example, you can turn to the Nusenda Visa Platinum Cash Rewards card for 5% on gas and school expenses in Q3. Then pull out the Discover it for home improvement purchases for another 5% the same quarter.

The Fine Print: Once again, you’ll need to monitor your spending habits to get the most cash back from a revolving category card. If you choose to use this card along with another one, a good practice would be labeling the cards in your wallet to ensure you use the right one for the right purchases in a given quarter.

One final caveat: While there is no annual fee, Nusenda is a credit union, so you will have to go through the process of applying for membership.

platinumrewadscardbynusenda

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U.S. Bank Cash+ Visa Signature: Pick Your Own Cash Back Categories

How it works: The U.S Bank Cash+ card has a revolving cash back program that’s unique in comparison to the others above because you get options.

Earning cash back: You can earn 5% cash back in two categories of your choosing each quarter limited to the first $2,000 of spend. Then you can choose another category with no cap to earn 2% cash back. On all other purchases, you earn 1% cash back.

The categories for an unlimited 2% cash back (choose one each quarter) are:

  • Gas stations
  • Restaurants
  • Grocery stores

The categories for 5% cash back up to $2,000 (choose two each quarter) are:

  • Select clothing stores
  • Cell phones
  • Electronic stores
  • Gyms and fitness centers
  • Bookstores
  • Fast food restaurants
  • Charities
  • Sporting goods stores
  • Department stores
  • Furniture stores
  • Movie theaters

Using your rewards: You can redeem cash back for gift cards, statement credit or a deposit into a U.S. Bank Savings, Checking or Money Market account. The first time you redeem $100 in cash back in a single transaction, you get a $25 Cash+ Bonus.

The Fine Print: Same opt-in revolving category spiel applies here except you must also remember to choose your categories. There is no annual fee. The U.S. Bank Cash+ is another good example of a card you may want to couple with another that gives you higher cash back for necessities i.e. groceries. But, for diverse spenders who can benefit from the 5% category options, the U.S. Bank Cash+ is worth considering.

US Bank Cash +

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SimplyCash Plus Business Card from Amex: Ideal for Typical Business Expenses

How it works: The SimplyCash Plus Business Card gives 5% cash back on office supply and wireless telephone provider services. You also get 3% cash back from a list of categories you can choose from, including:

  • Airfare purchased directly from airlines
  • Hotel rooms purchased directly from hotels
  • Car rentals purchased from select car rental companies
  • U.S. gas stations
  • U.S. restaurants
  • U.S. purchases for advertising in select media
  • U.S. purchases for shipping
  • U.S. computer hardware, software, and cloud computing purchases made directly from select providers

Earning cash back: You have to choose your 3% category within two months of signing. If you don’t choose one, the default is gas stations. The combined annual cap for the 5% and 3% categories is $50,000. On all other purchases, you get 1% cash back.

Using your rewards: Cash back will appear as a credit automatically on your statement. This American Express card has no annual fee, so you’ll earn cash back with a generous cap at no cost.

The Fine Print: You must remember to choose your 3% cash back category every year. If you select one this year and forget to do so next year, you’ll be locked into the same 3% category for another 12 months until you make a switch. There is no annual fee.

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Amazon Prime Store Card: 5% Cash Back for the Amazon Prime Enthusiast

How it works: The Amazon Prime Store Card is open to Amazon Prime Members, so it’s somewhat exclusive. The perks of this card is 5% cash back on eligible purchases made on Amazon.com. Buying items on other merchant websites that have the Amazon Prime Card payment option enabled will not earn you 5% cash back.

Using your rewards: The cash back you rack up will apply as a credit to your statement.

Do the math: If you’re not already an Amazon Prime Member, it’s probably not worth signing up to become one just for the card unless you intend to spend big bucks on the site. You need to spend more than $2,000 per year at Amazon.com for the 5% cash back to cover the $99 annual membership fee.

The Fine Print: The fine print of what you can and can’t buy to earn 5% is the only gotcha here. But, if you shop on Amazon.com often and stick to the rules, you’ll see a nice return from this card. There’s not an annual fee for the card, but you must be an Amazon Prime member, which costs $99 a year.

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REDcard: Only a Good Fit for the Regular Target Shopper

How it works: For Target shoppers, there’s the REDcard. It gives you a 5% discount on your purchases at Target (minus any other discounts or promotions). Purchases that won’t earn 5% cash back include:

  • Target eye exams
  • Target gift cards and prepaid cards
  • Previous purchases
  • Target credit account payments, Target Debit Card cash back and cash advances on the Target MasterCard
  • Gift wrap and shipping and handling on Target.com purchases
  • Wireless protection program purchases and deposits required by mobile carrier

Earning and using rewards: The program is pretty simple as far as how Target gives you money back. Your 5% will apply to eligible purchases in your shopping cart at checkout. In addition to 5% cash back, this program includes free shipping from Target.com and 30 extra days for returns.

The Fine Print: No red flags with the REDcard other than watching out for the purchases excluded from cash back listed above. For faithful Target shoppers, this no annual fee card with the 5% discount may be a no brainer.

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Fort Knox Visa Platinum Card: Most Straightforward 5% Rewards Card Just for Gas

How it works: The Visa Platinum Card from the Fort Knox Credit Union makes our list with the most straightforward, no cap rewards program. You can earn an unlimited 5% cash back on gas and 1% cash back on all other purchases.

Using your rewards: Cash back will appear on your statement as a credit.

The Fine Print: This rewards program is offered by a credit union in Kentucky. You’ll have to take a few extra steps to qualify for membership. If you don’t live in Kentucky or have family in Kentucky, membership is open to anyone that joins the American Consumer Council. There is no annual fee for the card, but you will need to become a member of the credit union.

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Blue Cash Preferred from Amex: 6% Cash Back for the Heavy Grocery Shopper

How it works: The Blue Cash Preferred is our top pick for cardholders that want to maximize cash back on groceries. With this card, you get 6% cash back at supermarkets excluding superstores and warehouses up to $6,000 per year. You also earn 3% cash back at gas stations and select department stores and 1% cash back on everything else.

Bonus offer: In addition to the recurring cash back program, if you spend $1,000 within the first three months of signing up for the card you’ll get $150 cash back.

Using cash back: Cash back builds as Rewards Dollars you can redeem for statement credit in increments of $25.

The Fine Print: This card is the only one to make our list with an annual fee which is currently $75. In August, the fee will bump up to $95 per year. If you get your application approved before the fee increases, you need to spend a little more than $100 per month on groceries for the fee and cash back earnings to break even. Once the fee goes up to $95 per year, you need to spend about $132 per month on the card to break even.

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USAA Cashback Rewards Plus Amex: Only Advantageous for Military Service Members Living On-Base

How it works: The USAA Cashback Rewards Plus Amex gives 5% cash back on gas and military base purchases including commissaries, exchanges, and shopettes. The cap for the 5% category is $3,000 per year.

Earning cash back: In addition to the 5% back on gas and military base purchases, you’ll also earn 2% cash back on groceries up to $3,000 annually. On everything else, there’s 1% cash back. You can redeem cash back in increments of $1 through the USAA Rewards Service Center online or over the phone.

The Fine Print: The USAA Cashback Rewards Plus Amex card is light on the fine print. Just remember, the 5% category cap is $3,000 for combined gas and military base purchases per year and not per quarter. There is no annual fee.

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The Key to Earning from Any Cash Back Card

In closing, regardless of which cash back card you choose, be sure to pay off your bill in full each month. That’s one underlying trap of any card rewards program. If you carry a balance over time, adding interest into the equation means you may end up paying the credit card company more than what you’re making in cash back.

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Best of, Credit Cards

Credit Cards: Find the Best Credit Card Offers & Deals (0% for 24 mos, 6% cash back)

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The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

Credit Cards: Find the Best Credit Card Offers & Deals

Updated December 10, 2016

The best credit cards can help you earn $2 or more for every $100 you spend – an easy way to make $100s or even $1,000s a year. When done properly, low rate credit cards are also the cheapest way to borrow. You can get 0% interest for up to 2 years. And credit cards are the best way to build, rebuild or maintain an excellent credit score, without paying fees.

But if you get it wrong, you can easily end up buried under a pile of expensive debt. This is a step-by-step guide that will help you find the best credit cards (updated daily) while avoiding expensive traps.

Should You Get a Credit Card?

Credit cards are like knives. Used well, they are great (even essential) tools. But if you start playing with them, you can get into trouble quickly.

There are two big risks associated with swiping plastic:

  • You spend more than you should, because it is just too easy
  • You pay higher interest rates than you should, adding years to your debt repayment

Before using a credit card, you need to answer the following question honestly:

Do I trust myself with plastic? Can I exhibit the necessary self-control to spend only what I can afford to pay in full every month?

If you have the discipline and self-control, keep reading and we will help you find the best credit card for your needs. But, if you don’t, it is possible to live a long and fulfilling life without plastic cards in your pocket.

The CFPB has a good guide on what to be aware of with your first credit card, as does the Federal Reserve.

Which type of card is best for you?

Why do you want a credit card ? The answer to that question will determine which type of card is best for you.

Just remember this critical rule when selecting a credit card:

You should have a Rewards Card for your spending. You should have a Low Rate Card for your borrowing. But you should avoid mixing the two. The best Rewards Cards tend to have higher interest rates. And the best Low Rate Cards often have no (or bad) rewards.

How to Choose and Use a Rewards Card

It is now easy to earn great rewards when you use a credit card for your spending. You should earn at least 2% cash back, and can earn even earn more with a bit of work. The money can add up quickly. If you spend $1,000 a month, you can earn $240 a year. It is not very often you can get something for nothing. But if you make the right choice and follow the rules, it is possible to get something for nothing.

How to Choose

Best Cash Back Credit Cards

These are the top cards offering a flat cash back rate.

Citi Double Cash Card

1% When You Buy + 1% When You Pay

Citi Double Cash Card

The Citi Double Cash Card is the best overall cash back credit card. So long as you pay your statement balance in full and on time every month, you will earn 2% cash back. You earn 1% unlimited cash back on all of your purchases. You then earn an additional 1% on payments based on your purchases. The bonus cash back can take up to two billing cycles to post.

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  • No caps on how much cash back you can earn.
  • Cash back earning formula is easy to understand
  • There is a range of interest rates. You won’t know yours until after you apply

Key Information

Credit Score Required : Good or Excellent Credit

Purchase Interest Rate : 13.49% – 23.49%

Annual Fee : $0

Sign-on Bonus : None

Intro Purchase APR : None

Intro Balance Transfer : 0% for 18 months with a 3% fee

Tip: Make sure you pay your statement balance in full and on time to maximize your cash back

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Fidelity Rewards Visa Signature Card

Unlimited 2% Cash Back on Every Purchase

Fidelity Rewards Visa Signature Card

The Fidelity Rewards Visa Signature Card offers Fidelity customers a generous 2% cash back on all purchases, with no limits or category restrictions. The cash back you earn must be deposited into a Fidelity account, but you don’t need to have a Fidelity account to apply for the card.

If you do not have a Fidelity account, they will open a Fidelity Cash Management Account to deposit your cash back. It works like a checking account with no minimum balance requirement and no monthly fees. In addition, all domestic ATM fees are reimbursed (unlimited).

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  • Simple cash back earning formula
  • No caps on how much cash back you can earn
  • You need to have a Fidelity account in order to redeem your cash back

Key Information

Credit Score Required : Excellent Credit

Purchase Interest Rate : 14.49%

Annual Fee : $0

Sign-on Bonus : None

Tip: You don’t need to keep your retirement or stock accounts with Fidelity to qualify for this card. Anyone can apply.

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Barclaycard Cash Forward Credit Card

1.575% Cash Back for People with Fair Credit

Barclaycard CashForward Credit Card

You don’t need perfect credit to get a good cash back credit card. Barclaycard has just launched this card, which offers a generous 1.5% cash back rate on all purchases. You can earn a 5% bonus when you redeem, which creates an effective 1.575%.

There is a $100 bonus if you spend $500 in the first 90 days. The card has no annual fee, and there is a special 0% interest rate on purchases for the first 12 months.

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  • Cash back earning formula is easy to understand
  • There is a range of interest rates. You won’t know yours until after you apply

Key Information

Credit Score Required : Fair Credit

Purchase Interest Rate : 15.24%, 20.24% or 25.24%

Annual Fee : $0

Sign-on Bonus : $100 after spending $500 in the first 90 days

Intro Purchase APR : 0% on purchases for the first 12 months

Tip: This card may be available if you have less than perfect credit.

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Best Category Bonuses (Gas, Grocery, Travel, Dining)

Here are the top cash back cards that pay much higher rates in certain bonus categories, which can be a great way to boost your returns.

Fort Knox Credit Union Platinum Visa

Unlimited 5% Cash Back on Gas

Fort Knox Credit Union Platinum Visa

If you spend a lot of money on gas, there is no better card than this. You can earn unlimited 5% cash back on spending at gas stations. You will earn 1% on all other spend. You must be a member of the credit union, but anyone can join. Pay $5 to join the American Consumer Council of Kentucky (you can do that here) and you will be eligible to join.

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  • No limit to the cash back you can earn, even in the bonus category
  • You have to be a member of the credit union to get the card

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 9.50%

Annual Fee : $0

Tip: If you are not yet a member, you can use the non-member application process. Once approved, you can join with your $5 contribution to American Consumer Council.

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Blue Cash Preferred Card from American Express

6% Cash Back on Groceries (Up to $6,000 of Spend)

Blue Cash Preferred Card from American Express

The unparalleled 6% cash back rate on groceries makes this one of the best cards on the market for heavy grocery consumers. Even with the $75 annual fee, most grocery shoppers will come out ahead.

You will also earn 3% cash back on all gas station purchases, 3% at select department stores and 1% on all other purchases. You will earn a bonus offer of $150 after you spend $1,000 in the first three months. And, for a limited time, you can earn 10% back at Amazon.com, up to $200 within the first six months you have the card.

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  • Simple, easy to understand bonus offer
  • There is an Annual fee

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 13.49% – 22.49%

Annual Fee : $95 (no fee for additional cards)

Intro Purchase APR : 0% for 15 months

Tip: If you spend less than $200 a month on groceries, you will earn less than 2% cash back (after taking into account the fee) and would be better with Citi Double Cash or Fidelity American Express. But, if you spend more each year, this is a great option.

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PenFed Premium Travel Rewards American Express

4.25% Cash Back on Airfare Expenses

PenFed Premium Travel Rewards American Express

If you buy a lot of plane tickets every year, this card can be particularly lucrative. You will earn 5 points for every $1 spent on air travel. When you convert those points to a prepaid Visa card, those 5 points turn into a 4.25% earn rate. You earn 1 points per $1 on all other purchases.

There is no annual fee, no foreign transaction fees and 20,000 bonus points when you spend $2,500 within three months.

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  • No annual fee and no foreign transaction fees
  • The conversion from points to $ can be confusing
  • You must be a member of the credit union

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 9.24% – 17.99%

Annual Fee : $0

Intro Balance Transfer Offer : 0% for 12 months with a 3% fee

Tip: Keep an eye open on the redemption opportunities. You can sometimes find better deals than just prepaid Visa cards.

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AARP Credit Card from Chase

3% Unlimited Cash Back at Restaurants

AARP Credit Card from Chase

You do not have to be over 55, or a member of the AARP, to apply for this credit card. When applying, you just need to keep the “AARP Membership Number” field blank. You can earn unlimited 3% cash back on your dining expenses. So, if you are a foodie, this is a great card. You also get a healthy 3% cash back on gas and 1% on all other purchases.

If you are interested in joining the AARP, you also don’t need to be older than 55. Anyone can join.

You can learn more about the offer by visiting AARP.org.

The information related to AARP Visa credit card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card.

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  • No limit to the cash back you can earn
  • You do not need to be an AARP member to get the card

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 16.49%

Annual Fee : $0

Intro Purchase APR : 0% for 12 months

Intro Balance Transfer Offer : 0% for 12 months with a fee of 3% or $5 (whichever is greater)

Tip: Joining AARP at a younger age isn’t as crazy as it sounds. There are a lot of benefits and discounts available to members.

More Dining Credit Cards

Do you spend a lot of money in other categories? You can find the best cash back credit cards for every category here.

Best Travel Rewards Credit Cards

If you would like to earn free travel, there are a number of credit cards designed specifically to help you earn free flights quickly. Here are the best travel rewards credit cards.

BankAmericard Travel Rewards

Best No Annual Fee Travel Card – Miles Can Be Used Anywhere

BankAmericard Travel Rewards

You earn 1.5 points for every $1 you spend. There is no limit to the number of points you earn.

The points can be used on any purchase. There are no restrictions and no blackout dates. Every 100 points can buy $1 worth of travel. The rewards get even better if you have “Preferred Rewards” at Bank of America. You can earn a bonus of between 25% and 75% if you have significant balances at Bank of America or Merrill Lynch.

There is no annual fee and no foreign transaction fees. You can use your points for a wide range of travel options, including flights, hotels, vacation packages, cruises, rental cars and even pesky baggage fees.

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  • Simple introductory bonus
  • No limit to the points you can earn
  • There is a range of interest rates. You won’t know yours until after you apply

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 15.49% – 23.49%

Annual Fee : $0

Intro Purchase APR : 0% for 12 months

Tip: The Preferred Rewards program offers excellent rewards. If you rollover your old 401(k) or IRA to Merrill Edge, you can get up to a 75% credit card bonus and ATM fee reimbursement with a Bank of America checking account.

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Amex Everyday Credit Card

Best No Annual Fee Travel Card – Earn Airline Miles & Hotel Points

Amex Everyday Credit Card

You can earn 2 points for every $1 spent at supermarkets, up to $6,000 per year. You will earn 1 point on all other purchases, including supermarket spend above $6,000. And there is an added bonus. If you use your credit card for 20 purchases per month, you will get a 20% bonus. That means you would get 2.4 points on grocery store spend (up to $6,000) and 1.2 points on everything else.

You will be earning Membership Rewards Points, which have a wide variety of redemption options. You can convert these points into frequent flier miles of airlines. Participating airlines include Delta, Virgin America, British Airways, Virgin Atlantic and more. You also have the option to convert points into hotel programs, including Hilton and Starwood.

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  • Simple introductory bonus
  • The 2-point bonus on grocery store spending is capped
  • You need 20 transactions each month to get the the 20% bonus

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : Prime + 9.74% – Prime + 18.74%

Annual Fee : $0

Tip: Make sure you use this card for all of your everyday spend. The 20% bonus is based upon the number of transactions made, not the value of those transactions. Even buying a package of gum in the grocery store counts.

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Best Credit Cards for Foreign Travel

These are the best credit cards for use when traveling outside of the country. None of these cards have foreign transaction fees. And some of them even have chip and pin, helping to increase acceptance.

First Tech Credit Union Platinum Rewards MasterCard

No Annual or Foreign Transaction Fee + Chip and Pin Functionality

First Tech Credit Union Platinum Rewards MasterCard

This card is the perfect companion for overseas travel. There is no annual fee or costly foreign transaction fee. Even better, the card offers chip and pin functionality. Most major credit card issuers in America have rolled out chip and signature, which can be problematic overseas. If you try to use your card at a ticket machine or with a waiter’s portable payment device, you have a good chance of being rejected.

The card also offers low credit union interest rates, starting at just 9.99%. It is easy to join the credit union. Membership is free if you work for a sponsor technology company. If you work for the state of Oregon or live in Lane County, Oregon membership is also free. Otherwise, you just need to join the Financial Fitness Association. There is a one-time fee of $8, and you are member. That membership gives you the right to join the credit union and apply for this card.

You will earn 1 point for every $1 you spend. This is not the best rewards program on the market.

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  • No annual fee or foreign transaction fees
  • You have to be a member of the credit union

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : from 10.24%

Annual Fee : $0

Tip: First, join the Financial Fitness Association. Then join the credit union. Finally, apply for the credit card. This can all be done online, and it is an easy process.

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Barclaycard Arrival Plus World Elite MasterCard

No Foreign Transaction Fee + Chip and Pin Functionality

Barclaycard Arrival Plus World Elite MasterCard

With this card, you earn 2 miles for every $1 you spend. When you redeem, you receive a 5% bonus, which gives you a 2.1% earn rate. Your miles can be used on any travel purchase with any airline, hotel or other travel expense. There is an annual fee of $89, which is waived during the first year. If you spend $1,000 a month, you would earn $252 of rewards during the year. After deducting the annual fee, you will have earned 1.4%.

There is a sign-on bonus of 50,000 miles after you spend $3,000 in the first 90 days. But the real strength of this card is for foreign travel. There are no foreign transaction fees and full chip and pin functionality is available.

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  • No limit on the bonus points you can earn
  • There is an annual fee

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 16.49%, 20.49% or 23.49%

Annual Fee : $89 (waived during the first year)

Intro Purchase APR : None

Intro Balance Transfer : 0% for 12 months with a 3% fee

Tip: Given the high annual fee, this card is only worthwhile if you expect to spend a lot on the card.

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Capital One Quicksilver One Rewards MasterCard

Best Foreign Travel for Fair Credit

Capital One Quicksilver One Rewards MasterCard

This card is designed for people with Average/Fair credit. If you have defaulted on a loan in the past five years (but not more than one), or if you have had limited credit history (at least one account for less than three years), you would be considered “average/fair.”

With this card, you can earn 1.5% unlimited cash back. There is also no foreign transaction fee. That combination of no fee and rewards can make this card lucrative. There is an annual fee of $39.

This card can be useful to build your credit score. Just keep your utilization low (ideally below 20% of the available credit) and make your payments on time and in full every month. Capital One provides free access to your FICO score. So, you can track your score and see when you are eligible for an upgrade to a no-fee card.

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  • No limit to the cash back you can earn
  • No confusing categories or limits
  • No annual fee or foreign transaction fee

Key Information

Credit Score Required : Fair or Average

Purchase Interest Rate : 24.99%

Annual Fee : $39

Intro Purchase APR : 0% until September 2016

Tip: Use this credit card to build your score and avoid expensive foreign transaction fees.

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How to Use

In order to maximize your cash back, make sure you follow these suggestions:

  • Use your chosen cash back card for ALL of your spending. Your goal should be to replace cash, checks, automatic debits and debit cards completely. For example, you can automate bill payments (like your cell phone) to be debited from your credit card. This will make your life easier (only one payment to make each month) and it will make budgeting easier (you can set a target for spending and track it easily).
  • Set up automatic monthly payments for the statement balance, not the minimum due. If you set up automatic payments, you will ensure that your payment will be on time every month. And if you set up the automatic payment for the statement balance, you will ensure that you are never charged interest and only charge what you can afford to repay.
  • Avoid cash advances. If you use your credit card to take out cash, most companies will charge a cash advance fee that averages 3%. The interest rate on cash advances is usually above 20%. And there is no grace period, which means interest starts accruing right away.

Brian Karimzad, Co-Founder of MagnifyMoney, explains how to get the most out of cash back credit cards in this video:

How to Choose and Use a Low Rate Credit Card

When done properly, credit cards can be the cheapest way to borrow. Just make sure you choose the right credit card for your situation and automate a plan to pay off the debt as quickly as possible.

How to Choose

Best Balance Transfer Credit Cards

With a balance transfer credit card, you can transfer debt from a high interest rate credit card to a 0% introductory promotional rate. You can find no fee balance transfers for up to 15 months. If you are willing to pay a fee, you can find balance transfers for up to 24 months. The fee is usually worthwhile – if you want to do the calculation, you can use the calculator on our interactive tool.

Remember: you cannot transfer debt between two credit cards of the same bank.

Here are the best 0% balance transfer offers in the market today. All of these credit cards waive interest – which means there is no retroactive interest charge to worry about.

Chase Slate®

$0 introductory balance transfer fee, 0% introductory APR for 15 months on purchases and balance transfers, and $0 annual fee

Chase Slate®

With Chase Slate®, you can save with a $0 introductory balance transfer fee, 0% introductory APR for 15 months on purchases and balance transfers, and $0 annual fee. Plus, receive your Monthly FICO® Score for free. At MagnifyMoney, this is our favorite balance transfer offer.

You cannot transfer debt from other Chase credit cards, including their co-brand cards. Chase operates credit cards for companies like United Airlines, Southwest Airlines and Marriott.

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  • Interest is not deferred during the introductory promotional period. It is waived.
  • There is a range of interest rates. You won’t know yours until you apply.

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 15.49% to 24.24% variable

Annual Fee : $0

Intro Purchase APR : 0% for 15 months

Tip: Make sure you complete the balance transfer within 60 days of opening the account.

LEARN MORE Read Our Full Review

Alliant Platinum Visa

No Fee – 0% on transfers for 12 Months

Alliant Platinum Visa

With the Alliant Platinum Visa, there is no balance transfer fee and you pay no interest for 12 months. You can apply for the credit card even if you are not a member of the credit union. If you are approved for the credit card, you can then join

Anyone can join the credit union. You just have to make a contribution of $10 to Foster Care for Success and then you can become a member of the credit union. That is what we love about credit unions: joining requires a donation to a worthy charity.

There is one catch (that we don’t like). Even if you are approved for the credit card, you might not get the 0% offer. Depending upon your credit score, you might be given a much higher introductory interest rate.

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  • Interest is not deferred during the introductory promotional period. It is waived.
  • You might not get the 0% offer, depending upon your credit score
  • You have to join the credit union

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 9.49% – 21.49%

Annual Fee : $0

Intro Purchase APR : 0% for 12 months

Tip: If your credit score is not excellent, you might find it difficult to get the 0% offer. Pay close attention to the offer details once approved.

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Santander Sphere Visa

0% on transfers for 2 Years – 4% Balance Transfer Fee

Santander Sphere Visa

This is the longest 0% offer in the MagnifyMoney database. The only catch: it comes with a hefty 4% balance transfer fee. The fee could still be worthwhile, depending upon how long it takes for you to pay off the debt. You cannot transfer debt from other Santander credit cards.

The card also offers a rewards program, with 1 point for every $1 spent. And if you spend $1,000 in the first 90 days, you earn 10,000 bonus points.

You have 90 days from account opening to complete the balance transfer, otherwise you lose the promotional rate.

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  • Interest is not deferred during the introductory promotional period. It is waived.
  • There is a range of interest rates. You won’t know yours until you apply.

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 12.99% – 22.99%

Annual Fee : $0

Tip: This card is a good option if you think it will take a long time to pay off your debt in full.

GO TO SITE Read Our Full Review

Citi Simplicity

0% on transfers and purchases for 21 Months; 3% Fee

Citi Simplicity

Citibank has a strong balance transfer offer, with a long 21 months and a 3% fee. In addition, Simplicity has some added perks. There are no late fees, no penalty rate and no annual fee. Although you should always try to pay on time, it is nice that this card will not punish you for the occasional mistake.

In addition to the balance transfer offer, you pay no interest on purchases for 21 months.

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  • No late fee, no penalty APR and no annual fee
  • Interest is not deferred during the introductory promotional period. It is waived.
  • There is a range of interest rates. You won’t know yours until you apply.

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 13.49% – 23.49%

Annual Fee : $0

Tip: Make sure you transfer your balance within 4 months of opening the card, otherwise you lose the promotional offer.

GO TO SITE Read Our Full Review

Barclaycard Cash Forward Credit Card

0% Balance Transfer for Less Than Perfect Credit

Barclaycard Cash Forward

The Barclaycard Cash Forward might be an option if your credit isn’t yet excellent.

The balance transfer has a 3% fee, but you will have 0% interest for 15 months on transfer you make in the first 45 days and there is no annual fee.

You interest rate after the transfer can be as high as 24.99%, so this is definitely a card you only want to use for a balance you know you’ll pay off in under 15 months.

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  • No annual fee.
  • A high ongoing rate if your credit isn’t great.

Key Information

Credit Score Required : Fair or Average

Purchase Interest Rate: 15.24%, 20.24% or 25.24% based on your credit worthiness.

Annual Fee : $0


Tip: Watch your credit score closely. As you pay down your debt, your score will improve. Once your score is above 700, you can find a lot of choices for credit cards with better rewards or no annual fee.

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Paying off credit card debt sometimes requires more than one balance transfer credit card. If you want even more choices, check out our full guide to the best balance transfer cards, or use our balance transfer calculator to see which cards will save you most.

Best 0% Purchase Credit Cards

With a 0% introductory purchase offer, you will not be charged interest for purchases made on the credit card during the promotional period. This is a great way to finance a purchase. Even better, none of these top cards charge retroactive interest if you don’t pay off the balance during the promotional period. (A lot of store credit cards offer 0%, but then hit you with a big penalty. But don’t worry – these recommendations don’t do that).

Citi Simplicity

0% on Purchases for 21 Months

Citi Simplicity

If you are looking to finance a purchase, Citibank offers the longest 0% purchase promotion of any credit card in the MagnifyMoney database. The APR on purchases will be 0% for the first 21 months after opening the credit card.

Additionally, Citi Simplicity charges no annual fee, no late fee and has no penalty APR.

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  • No late fee, no penalty APR and no annual fee
  • Interest is not deferred during the introductory promotional period. It is waived.
  • There is a range of interest rates. You won’t know yours until you apply.

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 13.49% – 23.49%

Annual Fee : $0

Tip: The 21 months starts from when you open the credit card, not when you make the purchase. So make sure you time your application with your planned purchase.

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TruWest Visa Signature

0% on Purchases for 18 Months – Credit Union Membership Required

TruWest Visa Signature

TruWest is a credit union with restricted membership. Unfortunately, you need to live in certain regions of Texas or Arizona, or work for a few select employers (like Motorola) to join. You can learn about membership eligibility here.

If you are able to join, you will find a long 0% promotional period. Even better, the credit card has reasonable credit union interest rates after the promotional period ends. There is no annual fee on the card.

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  • Interest is not deferred during the introductory promotional period. It is waived.
  • There is a range of interest rates. You won’t know yours until you apply.

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 8.15% – 9.15%

Annual Fee : $0

Tip: Make sure you check your membership eligibility before you apply.

Best Low Interest (not 0%) Credit Cards

Having a credit card with a rate that stays low is a good idea. In case of an emergency, you will always have access to a low cost way to borrow. Here are some great low interest rate options:

Barclaycard Ring

8.5% Variable Interest Rate – With Profit-sharing (Maybe)

Barclaycard Ring

Barclaycard Ring was launched as a new type of credit card. Barclaycard has created a “community” that is supposed to provide feedback on product features and share in the profits. Unfortunately, there aren’t many profits to share with community members. According to a recent post, losses are higher than expected and only 2,599 new accounts were booked in a month.

Although you shouldn’t expect any profits to come, you can still enjoy a low interest rate. Barclaycard charges a flat 8% interest rate. That is a nice card to have in your back pocket in case of an emergency.

There are no rewards offered on this card.

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  • One flat interest rate
  • No annual fee

Key Information

Credit Score Required : Good or Excellent

Purchase Interest Rate : 8.5%

Annual Fee : $0

Tip: This is a good card to keep in your back pocket in case of an emergency

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Langley Select Visa Platinum Card

As Low as 7.50% from a Credit Union Anyone Can Join

Langley Select Visa Platinum Card

Anyone can join Langley Federal Credit Union by joining an association during the signup process for $5.

If you have excellent credit and just want a place for emergency spending with no rewards, consider keeping this card on hand. Although the rates start as low as 7.50%, not everyone will get a rate that low.

It’s more of a hassle than a regular bank card, but if you insist on the very lowest rate consider this.

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  • Interest is not deferred during the introductory promotional period. It is waived.
  • There is a range of interest rates. You won’t know yours until you apply.
  • You have to join the credit union

Key Information

Credit Score Required : Excellent

Purchase Interest Rate : from 7.50%

Annual Fee : $0

Tip: You need to have an excellent credit score in order to qualify for the lowest interest rate. And unfortunately the online banking is not as good as some of the bigger banks.

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You might get a lower rate from a credit union or bank near you that doesn’t accept nationwide applications, and you can check our full list of low interest credit cards to see if there is one that works for you.

How to Use

If you need to borrow money, credit cards can be an incredibly low cost way of borrowing. Just make sure you pay attention to the following tips:

  • Get that balance transfer done quickly! If you are transferring a balance, make sure you complete the transfer as soon as possible. The introductory offer starts from when you open the card, not when the transfer is completed. And you can lose the offer with most issuers if you wait more than 60 days to complete the transfer.
  • Automate your monthly payments. If you pay late, you can be charged a costly late fee. And, if your payment is 60 days late, you can lose the introductory offer entirely.
  • You cannot transfer debt between two cards of the same bank. For example, if you open a Citibank account you will only be able to transfer debt from credit cards other than Citibank.

Nick Clements is the Co-Founder of MagnifyMoney. He also used to run a large credit card company and explains how to use balance transfers in this video.

How to Choose and Use a Credit Card to Build or Rebuild Your Score

If you are looking to build or rebuild your credit score, a credit card can be the perfect tool.

How to Choose

If you have no credit, or your credit score is below 620, you should consider a secured credit card.

If you have limited credit history (less than three years) or you have only defaulted once on a credit card or loan (not multiple times), you should consider a credit card for fair credit.

Best Secured Credit Cards for People with Bad or No Credit

Secured credit cards are the best option if you need to build or rebuild your credit score. The best secured credit cards have no annual fees. If you’re going to use a secured credit card, it will help you grow your score if you pay your balance on time every month, keep your credit utilization low, and you apply for an unsecured credit card after 12-18 months of regular use.

Need to know more? These are ways that you can build your credit without paying interest and spending just $10 a month, and these are tips for improving your credit score.

Capital One Secured MasterCard

No Fee Secured Card with Free FICO Score; Deposit Between $49 – $200 Required

Capital One Secured MasterCard

This is our favorite secured credit card. There is no annual fee. And Capital One will give you free access to your FICO credit score. You can watch your good behavior being rewarded, and you will know when it is time to convert to a fully unsecured credit card.

In order to open the card, you will need to deposit between $49 and $200, depending upon your creditworthiness. Capital One will assign a credit limit up to $3,000.

Capital One also give you access to the “Capital One Credit Tracker” which has a what-if simulator to help you understand how your credit score will evolve over time.

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  • No annual fee
  • Free FICO credit score

Key Information

Credit Score Required : Anyone can apply

Purchase Interest Rate : 24.99%

Annual Fee : $0

Tip: This product reports to all three credit bureaus. It is a great tool to build your score. But, if you miss payments, you can do damage to your score.

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Community Secured Visa from Coastal Credit Union

No Fee Secured Card; Credit Union Membership and $100 Deposit Required

Community Secured Visa from Coastal Credit Union

This card has no annual fee, and you only need to deposit $100 in a Collateral Savings Account to get started. If you’re not a member of Coastal Credit Union, you can join an organization for $18, which is deducted from your initial deposit, and become a member. So you’ll need $118 to get started.

While the initial deposit is a bit higher than the Capital One card, you get the peace of mind that your interest rate will be more reasonable in case you get into trouble. This one takes more work to open than the Capital One card, since it involves joining a credit union, but you deal with less fine print once you have the card.

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  • A single interest rate that you know up front, before you apply
  • You have to join a credit union

Key Information

Credit Score Required : Anyone can apply

Purchase Interest Rate : 15.50%

Annual Fee : $0

Tip: It is easy to join the credit union. Join an organization for $18 and you will become eligible.

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We also have a list of several other no annual fee secured credit cards from both banks and credit unions anyone can join. Or browse our list of hundreds of secured cards to compare rates, fees, and deposit requirements.

Best Credit Cards for People with Fair Credit

If you have fair or average credit, you might be able to qualify for an unsecured credit card. If you have more than one default in the last five years, you will find it difficult to get approved. In addition, if you are currently delinquent on any of your accounts it will also be hard to get approved, and you should try a secured card instead.

Here are some good cards for people with fair credit:

Barclaycard Cash Forward Credit Card

1.575% Cash Back for People with Fair Credit

Barclaycard Cash Forward Credit Card

You don’t need perfect credit to get a good cash back credit card. Barclaycard has just launched this card, which offers a generous 1.5% cash back rate on all purchases. You can earn a 5% bonus when you redeem, which creates an effective 1.575%.

There is a $100 bonus if you spend $500 in the first 90 days. The card has no annual fee, and there is a special 0% interest rate on purchases for the first 12 months.

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  • Cash back earning formula is easy to understand, with no caps
  • There is a range of interest rates. You won’t know yours until after you apply

Key Information

Credit Score Required : Fair Credit

Purchase Interest Rate : 15.24% – 25.24%

Annual Fee : $0

Sign-on Bonus : $100 after spending $500 in the first 90 days

Intro Purchase APR : 0% on purchases for the first 12 months

Tip: Don’t use more than 20% of your available credit to help improve your score over time.

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Capital One Quicksilver One

1.5% Cash Back for People with Fair Credit – with $39 Annual Fee

Capital One Quicksilver One

Capital One has created a credit card specifically for people with fair or average credit. If you have defaulted on a loan (but not more than one) in the last five years, or you have limited credit history (at least one account for less than three years), you would meet the definition of fair credit.

You will earn 1.5% cash back, unlimited. There is also 0% interest on purchases until September 2016 as well.

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  • Interest is not deferred during the introductory promotional period. It is waived.
  • There is an annual fee

Key Information

Credit Score Required : Fair or Average

Purchase Interest Rate : 24.99%

Annual Fee : $39

Tip: Watch your credit score closely. As you pay down your debt, your score will improve. Once your score is above 700, you can find a lot of choices for credit cards with better rewards or no annual fee.

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You may also want to try and see if you are pre-qualified for a credit card before applying. Banks can perform a ‘soft’ pull on your credit file to give you a sense of whether you might qualify for one of their products. It leaves no mark on your credit score, and you can see a full list of ways to check if you’re pre-qualified here.

A Special Note: Beware Predatory Companies

Many lenders target consumers with FICO credit scores of less than 650. If you have searched for “credit cards for bad credit,” you will probably find offers from companies like First Premier. In addition to high interest rates, these lenders often require application processing fees, maintenance fees and more. You could be given a $300 credit limit and see a big portion of it eaten up with fees.

Stay away from these specialist subprime lenders. Instead, consider the following:

  • If you need to borrow, consider a personal loan instead. You can find much better deals. Search for options here
  • If you want to build your credit score, use a secured credit card instead.
How to Use It

In order to build your credit score with one of these cards, you should follow our tips. By doing this, you should see real improvement in your score.

  • Don’t use more than 10% – 20% of your available credit. For example, if you have a $500 credit limit, never spend more than $50. That keeps your utilization low.
  • Use your card every single month. You should make sure you have a transaction every month, so that positive data is reported to the credit bureaus.
  • Automate and pay your statement balance in full and on time every month. Even just one late payment could crush your score. And by paying the balance in full, you will avoid any interest expense.
  • Watch your score closely. Keep an eye on your credit score. After 12 months, you should really start to see a big improvement. Once your score is above 650, you should try to get your secured card converted or apply for an unsecured credit card.

Other Benefits of Using a Credit Card

Not only can you use a credit card to earn rewards, borrow at low rates or build your credit score for free – but there are many other benefits available. Here are some of the benefits that you can find:

Available on Most Credit Cards

$0 Liability on Fraudulent Activity: Credit cards are the best way to protect yourself from fraud. So long as you report the fraud to your credit card company, you will not be liable for any losses on any major credit card.

Car Rental Collision Insurance: If you waive collision coverage when renting a car, your credit card may provide secondary coverage of $50K or more.

Available on Some Credit Cards

Retail Purchase Protection: Protects you from loss, theft, fire or accidental damage for a limited period of time after your purchase has been made. Not all cards protect you from loss, so look it up in the Purchase Protection Coverage Description Document.

Price Protection: If you buy something in stores and you see an advertised price, you will receive the difference between the two prices.

Extended Warranties: Duplicates both manufacturers and store warranties for a limited length of time and for limited dollar values (varies by card).

Travel Accident Coverage: If you are injured during travel, and you purchased the tickets via credit card, your company fully insures you.

Lost Luggage Coverage: You can receive compensation for lost, stolen or damaged luggage if you purchased flight or travel tickets using your credit card.

Trip Interruption Cancellation Coverage: If travel delays keep you from completing a trip, and you purchased the tickets on your credit card, the full value of the tickets will be refunded

Concierge Services: Certain cards offer free access to local concierge services that can help you make dinner reservations, purchase event tickets, and locate items while you are abroad.

FAQ

The minimum payment calculation differs by credit card issuer. The most common is 1% of the principal balance plus any interest or fees that accrued in the month (or a set amount, like $25, if the minimum due is very low).

If you use your credit card at an ATM to take out cash, a few things will happen. First, you would be charged a cash advance fee, which is usually about 3%. Second, interest would start accruing immediately, because most issuers do not have a cash advance grace period. And the cash advance interest rate is usually much higher than the purchase rate. Don’t be surprised to see interest rates as high as 24% (or higher).

While there is no over-limit fee, having a credit card with a balance that is greater than the credit limit can have a very negative impact on your credit score. In general, you want to keep your credit card balance below 20% (ideally below 10%) of your credit limit.

We do not recommend closing credit cards, because it can reduce your credit score. Closing unused credit cards does two things. First, it reduces your total available credit. That increases your utilization, which is bad for your score. Second, the age of your open credit cards helps your score. If you close old accounts, you can hurt your score over time.

The law requires that any payment amount beyond the minimum due must be applied to the highest APR balance first. The minimum due is at the discretion of the credit card companies. However, it is usually applied to the balance with the lowest APR first. Your goal is to eliminate high APR debt – so don’t be afraid to make much bigger payments on credit cards. The extra amount will always go to the most expensive debt first.

Each application for new credit can take 5-10 points off your credit score. If you are planning on applying for a mortgage or auto loan in the near future, you have to be very careful. Even just 5 points can be painful. However, if you are not going to be applying for a mortgage or auto loan in the next 6-12 months, you should not worry too much about your credit score. Instead, focus on getting out of debt quickly.

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Best of, Identity Theft Protection

7 FinTech Startups Helping Businesses Fight Fraud

Advertiser Disclosure

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

fraud identity theft hacker

Whether it’s a small shop or a multinational company, businesses must constantly have their guard up to protect against fraud. Installing security cameras, verifying dollar bills aren’t counterfeit, and hiring a security guard to prevent shoplifting can all help with physical fraud. But as commerce and banking continue to go online, digital security is critically important as well.

LexisNexis’ 2016 True Cost of Fraud study focuses on U.S. merchants. The study reveals businesses reported an increase in the cost of fraud as a percentage of annual revenue for the third year in a row.

On average, companies have dealt with nearly 650 fraudulent purchase attempts each month, and over 200 of those are successful. Increasingly, fraudulent purchases are coming from remote channels, either from mobile devices or other online methods.

Combating in-person, online, and mobile-transaction fraud can be an exhausting process, and several financial technology (FinTech) companies are working to help businesses outsmart thieves and win the fight.

1. Feedzai

FeedzaiFeedzai uses machine learning and big-data analysis to help companies prevent fraud while managing payment processing, opening new customers accounts, underwriting merchant accounts, securing marketplaces, and validating customers.

Feedzai claims its Fraud Prevention That Learns technology, which bases its decisions on historical and real-time behavioral profiling, can detect fraud up to 10 days earlier than the competition, and identify 61% more fraud with lower false alarms.

2. IdentityMind Global

IdentityMind GlobalIdentityMind Global has a platform that payment service providers, online merchants, and financial institutions can use to identify and prevent fraudulent purchases, botnets, phishing attempts, account takeovers, and other types of attacks in real time.

The platform also offers anti-money laundering (AML), know your customer (KYC), and other risk management services to companies, including Bitcoin exchanges and internet lenders.

3. InAuth

InAuthInAuth is a risk management and fraud-detection and -prevention platform for the banking, payments, health care, e-commerce, and mobile commerce industries. Large companies can also use it to secure and identify employees’ devices and information.

InAuth’s InExchange service allows businesses from different industries to share positive and negative information about devices, helping companies determine whether or not the device has been linked to fraudulent activity in the past. InAuth also works to identify when devices are infected with malware or crimeware, and whether or not it’s a rooted or jailbroken device, potential signs of fraudulent use.

4. Jumio

JumioAvailable for merchants in the retail, travel, gaming, finance, telecom, and sharing economy industries, Jumio offers digital identification verification, mobile checkout, and form-filling software. Two of its three products can help prevent fraud.

Netverify helps authenticate potential customers by letting them take a picture of their photo ID and use their phone or computer to scan their face. The software verifies that the person matches the photo in the ID. BAM Checkout lets customers make mobile purchases by taking pictures of their credit or debit card and driver’s license. The software compares the names on the ID and card, and can help prevent fraud while creating an easy checkout process for customers. Jumio also has a third service, Fastfill, which allows customers to quickly fill in their information by snapping a picture of an ID card.

While Jumio filed chapter 11 bankruptcy in March 2016 due to some reported financial irregularities within the company, Jumio’s assets were acquired by Centana Growth Partners. Under this new umbrella, Jumio does seem to have steadied itself and raised an additional $15 million from Centana in August 2016.

5. iovation

iovationiovation delivers device-based fraud prevention and authentication services to help prevent mobile and online fraud. The service automatically collects information about a device. This information is used to visit a company’s site and decide whether or not they should allow, deny, or conduct a manual review of a transaction. For example, iovation may notice a device was used to make over $1,200 of purchases in the previous 12 hours, check to see if a phone number is connected to more than three devices, and see if this purchase is coming from a high-risk location.

Using iovation’s fraud prevention service, companies can require suspicious users to go through additional identification protocol or prevent a transaction outright. They can also use iovationScore, a predictive risk score, to help them identify good and bad customers. As a result, they make a checkout experience smoother for good customers, by letting them skip a security check, for example. The scoring system uses real-time machine learning to monitor billions of transactions globally and increase its predictive capabilities.

6. BioCatch

BioCatchBioCatch has created cloud-based technology that builds user profiles based on over 500 cognitive parameters, including behavioral patterns. By learning what it looks like when fraudsters create accounts, purchase products, or browse websites, BioCatch can help detect and stop future potential frauds. BioCatch can also help detect when someone takes over a legitimate account by comparing a user’s normal behaviors, including typing speed or cursor movement, to behaviors during the fraudulent session.

7. Trulioo

TruliooCanadian startup, Trulioo, uses data from over 140 sources to collect and share information on over 3 billion people, making it one of the largest consumer data companies in the world. E-commerce stores can use Trulioo to verify new customers, reducing the risk of fraudulent purchases and subsequent chargebacks. Financial institutions can use Trulioo’s data to help them meet AML and KYC identity verification requirements.

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