Best of

Best Free Credit Score Sites for Each Bureau

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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, Credit Cards

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

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 Cards: Find the Best Credit Card Offers & Deals

Updated April 18, 2017

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

Barclaycard CashForward World MasterCard

Barclaycard has just recently 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%. Cash redemptions start at $50.

There is a $200 cash rewards bonus after you spend $1,000 in the first 90 days after account opening. There is also a generous 0% intro APR on purchases for the first 15 months. The card has no annual fee.

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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 : Excellent Credit

Purchase Interest Rate : 15.74%, 20.74% or 25.74%

Annual Fee : $0

Sign-on Bonus : $200 after spending $1,000 in the first 90 days

Intro Purchase APR : 0% for 15 months

Tip: Always pay your bill on time to avoid late fees.

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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.

GO TO SITE More Gas Cash Back Cards

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.

GO TO SITE More Cards for Travel Spending

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

Ongoing Purchase APR : 16.99% to 23.74%

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 : Excellent

Purchase Interest Rate : 16.74%, 20.74% or 23.74% variable

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 and get 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

Ongoing Purchase APR : 15.74% to 24.49% 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.

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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

13.74% Variable Interest Rate

Barclaycard Ring

Barclaycard Ring was launched as a new type of credit card. Barclaycard has created a “community” that allows cardholders to share opinions and participate in a charity partner Giveback program.

There is a flat 13.74% APR (variable), regardless of your score. That is a nice card to have in your back pocket in case of an emergency. There is also a generous balance transfer offer. You can get a 0% intro APR for 15 months with no balance transfer fee (balance transfer must be done within 45 days of opening the account).

There are no rewards offered on this card.

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  • One flat interest rate
  • No annual fee

Key Information

Credit Score Required : Excellent

Purchase Interest Rate : 13.74% Variable

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.

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

Discover it® Secured Credit Card – No Annual Fee

This is our favorite secured credit card. There is no annual fee. You will get free access to your 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 at least $200, depending upon your creditworthiness. With this secured credit card, you will actually be able to earn cash back rewards. If you have previously filed bankruptcy, you still have the chance to be approved.

Our favorite part of the product is the automatic graduation. After seven months, Discover will start monthly automated reviews. If you qualify for a standard card, you will be graduated (and get your deposit back).

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  • No annual fee
  • Free FICO credit score

Key Information

Credit Score Required : Best for no credit, 670 or less

Purchase Interest Rate : 23.74% variable APR

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:

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.

TAGS:

Balance Transfer, Best of, Pay Down My Debt

Best balance transfer credit cards: 0% APR, 24 months

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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Looking for a balance transfer credit card to help pay down your debt more quickly? We’re constantly checking for new offers and have selected the best deals from our database of over 3,000 credit cards. This guide will show you the longest offers with the lowest rates, and help you manage the transfer responsibly. It will also help you understand whether you should be considering a transfer at all.

 

1. Best balance transfer deals

No intro fee, 0% intro APR balance transfers

Very few things in life are free. But, if you pay off your debt using a no fee, 0% APR balance transfer, you can crush your credit card debt without paying a dime to the bank. You can find a full list of no fee balance transfers here.

Chase Slate

Longest with $0 Intro balance transfer fee and 0% Intro APR

Chase Slate®

With Chase Slate® you can save with a $0 introductory balance transfer fee and get 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 longer transfer periods by paying a fee, so this deal is generally best if you have a balance you know you ‘ll pay in full by the end of the promotional period. And don’t expect a huge credit line with this card, so it may be best for smaller balances you can take care of quickly.

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  • Interest is not deferred during the balance transfer period
  • There are late payment and cash advance fees

Tip: You have only 60 days from account opening to complete your balance transfer and get the introductory rate

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Alliant Credit Union

Good 0% intro period with no intro fee

Alliant Credit Union, 12 months 0% APR, $0 introductory transfer fee

A no fee alternative if you already have a Chase balance or are looking to take care of additional balances is the Alliant Credit Union 12 month, 0% deal. There’s no fee for the transfer, and Alliant is one of the largest credit unions in the United States, so they’re used to handling new members.

Alliant is a credit union anyone can join, with national availability, by making a $10 donation to Foster Care to Success, though you can apply for the card without being a member.

There is a late payment fee of up to $25, and a penalty APR of 24.74% if you make a late payment that lasts until you make 6 on time payments in a row

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  • Interest is not deferred during the balance transfer period
  • The range of the purchase interest rate based on your credit history (9.74% – 21.74%) is more than 10%, which is a wide range. You also don’t know which balance transfer promo APR you get (0% – 5.99%) until you apply.
  • There are late payment and cash advance fees

Tip: Beware that not everyone approved gets the 0% introductory rate. Some people report needing a 720 FICO to get 0%, otherwise you may be approved for a rate as high as 5.99%.

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0% balance transfers with a fee

If you think it will take longer than 15 months to pay off your credit card debt, these credit cards could be right for you. Don’t let the balance transfer fee scare you. It is almost always better to pay the fee than to pay a high interest rate on your existing credit card. You can calculate your savings (including the cost of the fee) at our balance transfer marketplace.

These deals listed below are the longest balance transfers we have in our database. We have listed them by number of months at 0%. Although you need good credit to be approved, don’t be discouraged if one lender rejects you. Each credit card company has their own criteria, and you might still be approved by one of the companies listed below.

79_cardSpherecardbySantander

Longest 0% intro balance transfer card

Santander Sphere, 24 months, 0% APR, 4% fee

If you have a big balance, or know you can’t pay off your balance quickly – go as long as you can with a good balance transfer rate, even if it comes with a fee.

At 24 months this is the longest 0% APR balance transfer card in the market right now, so you have 2 years to get the balance paid down.

There’s a $35 late payment fee and a penalty APR of 30.49% applies if you make a late payment, and will apply to your existing balances until you make 6 straight months of on time payments.

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  • Interest is not deferred during the balance transfer period
  • The range of the purchase interest rate based on your credit history (13.24% – 23.24%) is more than 10%, which is a wide range.
  • There are late payment and cash advance fees.

Tip: You have 90 days after you open the account to complete the balance transfer.

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Decent 0% intro balance transfer period

Discover it® – 18 Month Balance Transfer Offer: 0% for 18 months, 3% balance transfer fee

This is a basic balance transfer deal with an above average term. If you don’t have credit card balances with Discover it’s a good option to free up your accounts with other banks. With this card, you also have the ability to earn cash back, and there is no late fee for your first missed payment and no penalty APR. Hopefully you will not need to take advantage of these features, but they are nice to have.

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  • Interest is waived during the balance transfer period, no foreign transaction fees and no late fee for your first late payment
  • The range of the purchase interest rate based on your credit history (11.74% – 23.74% Standard Variable Purchase APR) is fairly standard
  • There is a cash advance fee

Tip: Complete your balance transfer as quickly as possible for maximum savings.

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Low rate balance transfers

If you think it will take longer than 2 years to pay off your credit card debt, you might want to consider one of these offers. Rather than pay a balance transfer fee and receive a promotional 0% APR, these credit cards offer a low interest rate for much longer.

The longest offer can give you a low rate that only goes up if the prime rate goes up. If you can’t get that offer, there is another good option offering a low rate for three years.

Signal Financial

Longest low rate balance transfer card

Unify Financial Credit Union, As low as 5.49% APR, no expiration, $0 fee

If you need a long time to pay off at a reasonable rate, and have great credit, it’s hard to beat this deal from Unify Financial Credit Union, with a rate as low as 5.49% with no expiration and no fee to transfer. The rate is variable, but it only varies with the Prime Rate, so it won’t fluctuate much more than say a variable rate mortgage.

Just about anyone can join Unify Financial Credit Union. They’ll help you figure out what organization you can join to qualify, and you don’t need to be a member to apply.

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  • Interest is not deferred during the balance transfer period.
  • There are late payment fees.

Tip: If you’re credit’s not great, this probably isn’t for you, as the rate chosen for your account could be as high as 18%.

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SunTrust Prime Rewards

Long low rate balance transfer card

SunTrust Prime Rewards, 3.75% APR for 36 months, 3% fee

If you live in Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington, D.C., or West Virginia you can apply for this card without a SunTrust bank account.

The deal is you get the prime rate for 3 years with no balance transfer fee. That’s currently 3.75% though your rate will change if the prime rate changes, either up or down, and you have 60 days to complete your transfer. Also beware the prime rate deal isn’t for new purchases, so only use this card for a balance transfer.

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  • Interest is not deferred during the balance transfer period.
  • The range of the purchase interest rate based on your credit history (11.74% – 21.74%) is more than 10%, which is high.
  • There are late payment and cash advance fees.

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For fair credit scores

In order to be approved for the best balance transfer credit cards and offers, you generally need to have good or excellent credit. If your FICO score is above 650, you have a good chance of being approved. If your score is above 700, you have an excellent chance.

However, if your score is less than perfect, you still have options. Your best option might be a personal loan. You can learn more about personal loans for bad credit here.

There are balance transfers available for people with scores below 650. The offer below might be available to people with lower credit scores. There is a transfer fee, and it’s not as long as some of the others available with excellent credit. However, it will still be better than a standard interest rate.

Just remember: one of the biggest factors in your credit score is your amount of debt and credit utilization. If you use this offer to pay down debt aggressively, you should see your score improve over time and you will be able to qualify for even better offers.

aspire credit union card image

For less than perfect credit

Aspire Credit Union Platinum,
0% APR for 6 months, 0% transfer fee

Balance transfer deals can be hard to come by if your credit isn’t great. But some banks are more open to it than others, and Aspire Credit Union is one of them, saying ‘fair’ or ‘good’ credit is needed for this card. Anyone can join Aspire, but if you’re looking for a longer deal you also might want to check if you’re pre-qualified for deals from other banks, without a hit to your credit score, using the list of options here.

You’ll be able to check with several banks what cards are pre-screened based on your credit profile, and you might be surprised to see some good deals you didn’t think were in your range. That way you can apply with more confidence.

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  • Interest is not deferred during the balance transfer period.
  • The ongoing interest rate isn’t known when you apply.

Tip: Only Aspire’s Platinum MasterCard has this deal. Its Platinum Rewards MasterCard doesn’t have a 0% offer. And if you transfer a balance after 6 months a 2% fee will apply.

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2. Learn more

Checklist before you transfer

Never use a credit card at an ATM

If you use your credit card at an ATM, it will be treated as a cash advance. Most credit cards charge an upfront cash advance fee, which is typically about 5%. There is usually a much higher “cash advance” interest rate, which is typically above 20%. And there is no grace period, so interest starts to accrue right away. A cash advance is expensive, so beware.

Always pay on time.

If you do not make your payment on time, most credit cards will immediately hit you with a steep late fee. Once you are 30 days late, you will likely be reported to the credit bureau. Late payments can have a big, negative impact on your score. Once you are 60 days late, you can end up losing your low balance transfer rate and be charged a high penalty interest rate, which is usually close to 30%. Just automate your payments so you never have to worry about these fees.

Get the transfer done within 60 days

Most balance transfer offers are from the date you open your account, not the date you complete the transfer. It is in your interest to complete the balance transfer right away, so that you can benefit from the low interest rate as soon as possible. With most credit card companies, you will actually lose the promotional balance transfer offer if you do not complete the transfer within 60 or 90 days. Just get it done!

Don’t spend on the card

Your goal with a balance transfer should be to get out of debt. If you start spending on the credit card, there is a real risk that you will end up in more debt. Additionally, you could end up being charged interest on your purchase balances. If your credit card has a 0% balance transfer rate but does not have a 0% promotional rate on purchases, you would end up being charged interest on your purchases right away, until your entire balance (including the balance transfer) is paid in full. In other words, you lose the grace period on your purchases so long as you have a balance transfer in place.

Don’t try to transfer between two cards of the same bank

Credit card companies make balance transfer offers because they want to steal business from their competitors. So, it makes sense that the banks will not let you transfer balances between two credit cards offered by the same bank. If you have an airline credit card or a store credit card, just make sure you know which bank issues the card before you apply for a balance transfer.

3 Steps for Setting up a Balance Transfer

Nick Clements of MagnifyMoney, who once ran a large credit card business, explains how to set up a balance transfer.

Comparison tools

Savings calculator – which card is best?

If you’re still unsure about which cards offer you the best deal for your situation, try our calculator. You get to input the amount of debt you’re trying to get a lower rate on, your current rate, and the monthly payment you can afford. The calculator will show you which cards offer you the most savings on interest payments.

The calculator will show you which cards offer you the most savings
Balance transfer or a loan?

A balance transfer at 0% will get you the absolute lowest rate. But you might feel more comfortable with a single fixed monthly payment, and a single real date your loan will be paid off. A lot of new companies are offering great rates on loans you can pay off over 2, 3, 4, or 5 years. You can see a list here.

And you might find even though their rates aren’t 0%, you could afford the payment and get a plan that takes care of your debt for good at once.

Use our calculator to see how your payments and savings will compare.

Balance Transfer Graph

Questions and Answers

Yes, you can. Most credit card companies will allow you to transfer debt from any credit card, regardless who owns it. Just remember that once the debt is transferred, it becomes your legal liability.

Yes, you can. Most banks will enable store card debt to be transferred. Just make sure the store card is not issued by the same bank as the balance transfer credit card.

As a general rule, if you can pay off your debt in six months or less, it usually doesn’t make sense to do a balance transfer.

Here is a simple test. (This is not 100% accurate mathematically, but it is an easy test). Divide your credit card interest rate by 12. (Imagine a credit card with a 12% interest rate. 12%/12 = 1%). In this example, you are paying about 1% interest per month. If the fee on your balance transfer is 3%, you will break even in month 3, and will be saving money thereafter. You can use that simplified math to get a good guide on whether or not you will be saving money.

And if you want the math done for you, use our tool to calculate how much each balance transfer will save you.

With all balance transfers recommended at MagnifyMoney, you would not be hit with a big, retroactive interest charge. You would be charged the purchase interest rate on the remaining balance on a go-forward basis. (Warning: not all balance transfers waive the interest. But all balance transfers recommended by MagnifyMoney do.)

Many companies offer very good deals in the first year to win new customers. These are often called “switching incentives.” For example, your mobile phone company could offer 50% off its normal rate for the first 12 months. Or your cable company could offer a big discount on the first year if you buy the bundle package. Credit card companies are no different. These companies want your debt, and are willing to give you a big discount in the first year to get you to transfer.

Completing a balance transfer is easy. If you are applying for a new credit card, most credit card companies will just ask you for the account number of the credit card that has the debt. The transfer will then happen automatically. (It will look like the balance transfer credit card made a payment for you). You can also call your credit card company, and complete the transfer easily on the phone.

Automate your payments so that it doesn’t happen! If you do miss a payment, you will be charged a late fee. If you become 60 days late, you could lose your promotional interest rate and could be charge the punitive rate, which is often near 30% with most companies.

No, you can’t. Credit card companies are trying to steal balances from their competitors. So these deals are only good if you bring balances from competitors.

Many credit card issuers will allow you to transfer money to your checking account. Or, they will offer you checks that you can write to yourself or a third party. Check online, because many credit card issuers will let you transfer money directly to your bank account from your credit card. Otherwise, call your issuer and ask what deals they have available for “convenience checks.”

In most cases, you cannot. Once a balance transfer is complete, it is complete.

Yes, it is possible to transfer the same debt multiple times. Just remember, if there is a balance transfer fee you would be charged that fee every time you transfer the debt.

You can call the bank and ask them to increase your credit limit. However, even if the bank does not increase your limit, you should still take advantage of the savings available with the limit you have.

Yes. You decide how much you want to transfer to each credit card.

No. You do not earn rewards with a balance transfer. No cash back, no points and no miles can be earned with a balance transfer.

No, there is no penalty. You can pay off your debt whenever you want without a penalty.

Mathematically, the best balance transfer credit cards are no fee, 0% offers. You literally pay nothing. The best in the market is offered by Chase, which has a 15 month 0% introductory offer with a $0 introductory fee.

However, if your debt is already with Chase, or you think it will take years to pay off your debt, you should consider a longer duration offer or a personal loan. You can find 21 month offers with 3% fees and 24 month offers with 4% fees. Your savings over the two years would likely be substantial, even when you include the cost of the fee.

TAGS:

Balance Transfer, Best of, Pay Down My Debt

9 Best 0% APR Credit Card Offers – April 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 and get 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. Barclaycard Ring™ MasterCard® – 0% Introductory APR for 15 months, $0 Introductory Balance Transfer FEE

BarclaycardThis card is available if you have excellent credit. Be aware that you have 45 days to complete this transfer after opening the account.

You can also nominate and vote on charity partners to donate card profits each year and there are no foreign transaction fees if you use the card abroad.

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Tip: The remaining no fee cards on this list are deals for 12 months or less. You might be better off paying a standard 3% balance transfer fee for a longer deal, like 0% for 18 months from the Discover It, one of the better deals with a balance transfer fee of 3%.

3. 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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4. 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. This deal expires 5/5/2017.

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5. 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 after you spend $2,000 on the card in your first 3 months. 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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6. 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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7. 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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8. 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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9. 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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10. 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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11. Andigo Credit Union – 0% APR for 6 months, NO FEE

You’ll have a choice to apply for the Andigo Visa Platinum, Platinum Rewards, or Platinum Cash Back. The Platinum without rewards has a lower ongoing APR, starting as low as 10.15%, compared to 12.15% for the Platinum Rewards card, so if you’re not sure you’ll pay it all off in 6 months the Platinum without rewards is a better bet.

Anyone can join Andigo by making a donation to Connect Vets for $15, and you can submit an application for the card without being a member yet.

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12. 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. Aspire says people with fair credit can apply for its card.

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13. 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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14. 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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15. 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.

promo balancetransfer wide

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, Credit Cards, Reviews

2017 Best Credit Cards for Small Businesses

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.

Note from the Editor: The information related to Chase Ink Business Preferred Card credit card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card.

 

As a small business owner you know you need to manage your cash flow and plan for financing. Credit cards can be an ideal way to meet those needs. But business owners need to be savvy cardholders. Small business credit cards come with unique risks that personally affect entrepreneurs.

 

In this roundup we cover the risks and advantages of small business credit cards. And we’ll show you what card fits your business needs.

 

Best Cards for Financing

If credit cards are an important source of financing and capital for your business, then you need to be a savvy borrower. Look for cards with compelling terms, and take the time to understand the fine print. Remember, the card may be in the business’s name, but you’re personally liable for the debt. Don’t take on more debt than you can handle.

Best 0% Financing

The American Express Blue for Business card offers 15 months of 0% APR for financing. If you fail to pay back your purchases within 15 months, your interest rate will move to 11.74%-19.74%, depending on creditworthiness. You lose access to the introductory rate if you make a late payment.

The 15-month 0% APR window is one of the most generous offers available. On top of generous financing, you earn rewards for spending.

You can also earn 10,000 Membership Rewards points after making your first purchase. Every year, you’ll also receive a bonus of 30% of the previous year’s points earned.

The card offers perks including secondary car rental insurance, purchase protection, extended warranties, baggage insurance, trip accident insurance, and travel hotline help.

The Fine Print
  • Introductory rate: 0% APR financing for 15 months. You must pay on time, or you lose this rate.
  • APR: After 15 months, 11.74%-19.74%, depending on your creditworthiness
  • Penalty APR: 29.74%
  • Annual fee: No annual fee
  • Late fee: Up to $38
  • Returned payment fee: $38
  • Cash advance fee: Greater of $5 or 3%
  • Cash advance APR: 25.74%
  • Rewards: 1 point per dollar spent on all other purchases.
  • Bonus: 2 points for every dollar you spend booking travel at amextravel.com

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Low Interest Rates

If you and your business have excellent credit, the Platinum Plus for Business MasterCard from Bank of America offers low ongoing financing. This is a great card for businesses with periodic short-term borrowing needs. Besides interest rates as low as 9.74%, it offers a seven-billing-cycle 0% APR promo rate and $200 statement credit if you spend $500 in the first 60 days.

Plus, the card offers travel accident insurance, secondary rental insurance, and automatic downloads to QuickBooks.

Remember, it’s not wise to use a small business credit card for long-term financing. Many credit unions will offer low rates on installment business loans.

The Fine Print
  • Introductory rate: 0% APR financing for seven billing cycles.
  • APR: 9.74%-20.74% variable APR, depending on your creditworthiness (after seven billing cycles)
  • Annual fee: No annual fee
  • Late fee: $19-$49 (depending on your balance)
  • Returned payment fee: $39
  • Cash advance fee: Greater of $10 or 4%
  • Cash advance APR: 24.74%
  • Sign-up bonus: $200 statement credit if you spend $500 in your first 60 days
  • Rewards: None

Apply Now

Cash Flow Management

Managing cash flow can be one of the most difficult problems facing small business owners. The Plum Card by American Express makes cash flow easier. The Plum Card is a charge card not a credit card. This means that it is designed to give you access to short-term working capital. However, it is not a good source of financing.

If you pay your bill within 10 days of statement closing, you’ll get a 1.5% discount on eligible charges. Otherwise you have a full 60 days without interest before you need to make a payment. Beware, these benefits come at a steep price. After one year, you’ll pay a $250 annual membership fee. Plus, carrying a balance on a charge card comes with huge penalties. The first time you go past due, you’ll be charged 1.5% of the balance. After that, they charge a late fee of 2.99%. The minimum fee is $38.

The Fine Print
  • Late fee: 1.5%, then 2.99%; minimum of $38
  • Returned payment: $38
  • On-time payment bonus: 1.5% discount if you pay balance within 10 days of statement closing
  • Annual fee: $0 for the first year, $250 thereafter
  • No cash advance
  • Rewards: None

Apply Now

Imperfect Credit

If you’re struggling to get approved for a small business credit card, the Spark Classic from Capital One offers an excellent option. The card has a high variable APR (23.49%) and mediocre rewards (1% cash back). But Capital One will approve business owners with just average credit.

This isn’t a great card for borrowing, even in the short term. However, the Spark Classic will give you some working capital, and it will help your business build its credit. Just remember to pay your bill on time each month and to keep your credit use low.

The Spark Classic also offers perks like purchase protection, free extended warranties, and travel and emergency assistance. These protections offer tremendous value to business owners.

The Fine Print
  • APR: 23.49% variable APR
  • Annual fee: No annual fee
  • Late fee: Up to $39
  • Cash advance fee: Greater of $10 or 3%
  • Cash advance APR: 23.49%
  • Rewards: 1% cash back on all purchases

Apply Now

Cards for Service Members

Former and current members of any branch of the military can join Navy Federal Credit Union and apply for these high-quality credit cards. The Visa and MasterCard have the same fees and conditions, but they offer different perks.

 

Navy Federal Credit Union’s Visa for Business credit card gives former service members access to low interest rates and rewards spending. This can be an excellent choice for service members with excellent credit who may have to borrow for short-term needs.

The card gives access to the Visa SavingsEdge program, which gives up to 15% off business purchases at qualifying retailers. However, the card doesn’t offer extended warranties or other protections, so it isn’t always the best choice.

The Fine Print
  • APR: 9.65%-18.0%
  • Annual fee: No annual fee
  • Late fee: Up to $20
  • Returned payment fee: Up to $20
  • Cash advance fee: $0 at Navy Federal Credit Union branch ATM, 50 cents domestic, $1 foreign
  • Cash advance APR: APR + 2%
  • Rewards: 1 point per dollar spent

Apply Now

Navy Federal Credit Union’s MasterCard for Business credit card gives former service members access to low interest rates and rewards. The low interest rates make it a compelling choice for service members with short-term borrowing needs.

The card gives access to the MasterCard Easy Savings program, which gives automatic 10% rebates at a network of gas stations, auto repair shops, and shipping companies. This can lead to significant savings. The card also connects to the MasterCard Business Network, which makes expense reports easy. However, the card doesn’t offer extended warranties or other protections.

The Fine Print
  • APR: 9.65%-18.0%
  • Annual fee: No annual fee
  • Late fee: Up to $20
  • Returned payment fee: Up to $20
  • Cash advance fee: $0 at Navy Federal Credit Union branch ATM, 50 cents domestic, $1 foreign
  • Cash advance APR: APR + 2%
  • Rewards: 1 point per dollar spent

Apply Now

Best Cards for Rewards

Many small business credit cards offer compelling rewards to cardholders. These rewards can allow you to reinvest in your business, or you can take them for personal use. If you choose to use a rewards credit card, try to avoid paying interest. Most of these cards are not good choices for short-term borrowing.

Travel Perks

If you’re a frequent traveler, these small business credit cards give you access to incredible perks. But be sure to read the fine print. These cards have a few gotchas attached.

 

The American Express Business Platinum Card is a charge card with a premium price tag ($450 per year) and premium benefits for some users. Please note, it is not a credit card; you should not plan to borrow money with this card. These are the most significant perks:

  • Global Lounge Collection access, which includes access to Delta Sky Club lounges and American Express Centurion lounges
  • $200 airline fee credit (for checked bags, inflight refreshment, etc.)
  • One free Global Entry or TSA Pre-check application fee (allows you to expedite security at select airports and U.S. Customs)
  • 10 free passes per year to inflight Gogo Wi-Fi and unlimited Boingo (land-based Wi-Fi) access
  • 50% airline points redemption bonus on first- or business-class tickets (if you spend 100,000 points on a business-class ticket, you’ll get 50,000 points back 6-10 weeks later)
  • Starwood Preferred Guest Gold Elite Status, which also gets you Marriott Rewards Gold status for room upgrades and free breakfast. It also gets you access to the Fine Hotels and Resorts Program (perks like in-room WiFi, complimentary breakfast, and other hotel perks at participating luxury hotels).
  • Elite status for National car rental for free upgrades whenever you rent a car.
  • This could be a great card for frequent Delta fliers; not only do you get access to the Delta Sky Club lounges but you can also convert the points you earn into Delta SkyMiles.
The Fine Print
  • Annual fee: $450
  • Late fee: 2.99% or $38, whichever is greater
  • Returned payment fee: $38
  • No cash advance
  • Sign-up bonus: Earn 50,000 Membership Rewards points after you spend $10,000 within three months of card membership. Earn 25,000 more points after spending an additional $10,000 within your first three months.
  • Rewards: 1 point per dollar spent
  • Bonus rewards: 1.5 points per dollar for first $5,000 spent in a year; 2 points per dollar spent through amextravel.com.

Apply Now

As a business owner, little incidentals can add up in a big way. The Chase Ink Business Preferred Card mitigates these costs by providing high-value insurance protection to you and your employees. Not only will you earn rewards (outlined in the fine print), you’ll enjoy these perks, too.

Trip Cancellation/Trip Interruption Insurance
If your trip is canceled or cut short by sickness, severe weather, or other covered situations, you can be reimbursed up to $5,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.

Trip Delay Reimbursement
If your common carrier travel is delayed more than 12 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket.

Travel Accident Insurance
When you pay for your air, bus, train, or cruise transportation with your card, you are eligible to receive accidental death or dismemberment coverage of up to $500,000.

Auto Rental Collision Damage Waiver
Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is primary when renting for business purposes and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.

Baggage Delay Insurance
You are reimbursed for essential purchases like toiletries and clothing for baggage delays over six hours by passenger carrier up to $100 a day for five days.

Lost Luggage Reimbursement
If you or an immediate family member check or carry on luggage that is damaged or lost by the carrier, you’re covered up to $3,000 per passenger.

Extended Warranty Protection
This warranty extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.

Cellphone Protection
Get up to $600 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill when you pay it with your Chase Ink Business Preferred Credit Card. There is a maximum of three claims in a 12-month period with a $100 deductible per claim.

The Fine Print
  • APR: 16.74%-21.74%
  • Annual fee: $95 per year
  • Late fee: $15-$39, depending on balance
  • Returned payment fee: $39
  • Cash advance fee: Greater of $15 or 5% of transaction
  • Cash advance APR: 25.74%
  • Sign-up bonus: 80,000 points when you spend $5,000 in the first three months
  • Rewards: 1 point per dollar spent, 3 points per dollar spent on travel, shipping purchases, internet, cable or phone services, or online advertising (social media or search engines)
  • Bonus: Points worth 25% more when you redeem through Chase Ultimate Rewards (Chase’s travel website)

Big Introductory Bonuses

Business owners who know they’ll spend a lot in a short period of time should take note of these cards. These bonuses provide excellent value if you can meet the spending requirements. But be wary: these cards have high interest rates. You won’t come out ahead if you end up financing a big purchase with these cards.

The Business Platinum Card offers excellent travel perks, but it offers an unparalleled sign-up bonus, too. Right now, you can earn 50,000 Membership Rewards points after you spend $10,000 within three months of card membership. You’ll also earn 25,000 more points after spending an additional $10,000 within your first three months.

If you plan to spend $20,000 or more in the next three months, this bonus is worth the highest value when redeemed for travel rewards. Depending on which option you choose, this bonus may offset annual fees. You need to churn through a lot of money to meet the spending minimums, but this is a lucrative bonus.

Click here to see details including perks and the fine print.

The Chase Ink Business Preferred Card offers ideal perks for frequent travelers, but right now you can get a great sign-up bonus, too. By spending $5,000 in three months, you’ll earn 80,000 points. This bonus is worth $1,000 if you spend your points through Chase Ultimate Rewards for travel or $800 if you redeem for cash back. You can also transfer the points to airline partners like United and Virgin Atlantic and hotel partners like Marriott and Hyatt.

In addition to the lucrative bonus, you can earn everyday spending rewards (including 3 points per dollar spent in certain categories) and valuable trip insurance.

Click here to see details including perks and the fine print.

Cash Back Rewards

Every business owner can benefit from more cash in their pocket. These cards give you the best cash back offers for everyday spending. You can find better rewards if you use multiple cards, but these have excellent rewards for those who don’t want to mess around with multiple cards. Plus, these cards have excellent protections, too. But be careful when you finance with these cards; they don’t offer great terms for borrowing.

 

The Spark Cash card from Capital One offers unlimited 2% cash back on all purchases, and it is free for the first year. Plus, if you spend more than $4,500 in the first three months of holding the card, you get a $500 cash bonus. After the first year, you’ll pay $59 to hold the card. After the first year, if you spent more than $3,000 per year, it’s worth it.

The Spark Cash card also offers valuable protective features like purchase protection, free extended warranties, primary auto rental collision coverage, and more. Overall, the Spark Cash card gives straightforward rewards to business owners with excellent credit.

The Fine Print
  • APR: 17.49% variable APR
  • Penalty APR: 29.9% (applied if you make a late payment)
  • Annual fee: Free for the first year, $59 per year afterward
  • Late fee: Up to $39
  • Cash advance fee: Greater of $10 or 3% of transaction
  • Cash advance APR: 23.49%
  • Sign-up bonus: $500 reward when you spend $4,500 in the first three months
  • Rewards: 2% cash back on all spending

Apply Now

The Spark Cash Select card from Capital One offers a rare combination of friendly financing terms and rewards. You’ll earn an unlimited 1.5% cash back rewards on all purchases, and you’ll receive a $200 sign-up bonus if you spend $3,000 or more in your first three months.

On top of that, you’ll have a 0% APR financing rate for nine months, and an APR as low as 13.49% afterward.

This isn’t the most lucrative rewards card, but you won’t pay an annual fee. This makes it a great card for businesses that don’t spend as much on a credit card.

The Fine Print
  • Promo APR: 0% for nine months
  • APR: 13.49%-21.49%, depending on your creditworthiness
  • Penalty APR: 29.9% (applied if you make a late payment)
  • Annual fee: $0
  • Late fee: Up to $39
  • Cash advance fee: Greater of $10 or 3% of transaction
  • Cash advance APR: 23.49%
  • Sign-up bonus: $200 reward when you spend $3,000 in the first three months
  • Rewards: 1.5% cash back on all spending

Apply Now

Best Category Bonuses

If you and your employees spend a lot of money in a limited number of categories, you might want to consider a rewards card with heavy bonuses in those categories. These cards offer at least 3 points for every dollar you spend in a given category. That’s the equivalent of a 3% reward.

Remember, rewards cards aren’t usually a good choice for financing purchases. Look to pay off these cards every month.

Online Advertising

Businesses that regularly advertise on social media networks (Facebook, Twitter, etc.) or via search engines (Google, Bing) can earn impressive rewards on their marketing spending. These are the best cards for heavy online advertisers.

 

You’ll earn 3 points for every dollar you spend on online advertising. In addition, you’ll be eligible for travel perks, sign-up bonuses, and more.Click here to see details including perks and the fine print.

The American Express Business Gold Rewards Card allows you to choose to earn 3 points per dollar spent on any one of the following categories: advertising in select online media, airfare from airlines, gas, shipping, or computers and cloud services from select providers. You’ll earn 2 points per dollar on the categories you don’t choose.

All other spending earns 1 point per dollar you spend.

As a sign-up bonus, you’ll earn 50,000 points if you spend $5,000 or more in your first three months of holding the card. In addition to the rewards, you get trip accident insurance, extended warranties, and purchase protection.

Since the Business Gold Rewards Card is a charge card, you shouldn’t plan to borrow with the card. But the rewards for online advertisers are excellent. Just watch out for the $175 annual fee that kicks in after the first year.

The Fine Print
  • Annual fee: $0 for the first year, then $175
  • Late fee: 2.99% or $38, whichever is greater
  • Returned payment fee: $38
  • No cash advance
  • Sign-up bonus: Earn 50,000 Membership Rewards points after you spend $5,000 within three months of card membership
  • Rewards: 1 point per dollar spent
  • Bonus rewards: 3 points in one category (pick between advertising in select online media, airfare from airlines, gas, shipping, or computers and cloud services from select providers).
  • 2 points rewards on remaining four categories.

Apply Now

Dining and Travel

Dining and travel cost a lot, but these cards offer enticing rewards. The cards we recommend offer more than 3% cash back on restaurant spending, travel, or both. Plus, they have other compelling perks. But most of these cards aren’t great for borrowing, so check the fine print.

 

The American Express Blue for Business card offers the single best dining deal, at least during your first six months. During the first six months of holding the American Express Blue for Business card, you’ll get 10 points for every dollar you spend at a restaurant up to $2,000. Once the six-month offer period is over, you may want to turn to other rewards programs from the cards we outline below.

This is also one rewards card that has a decent financing option. Right now you can get 0% APR financing for the first twelve months.

Learn more here about the perks, rewards, and fine print before you apply.

Looking to thin down your wallet? A Sam’s Club Business MasterCard, doubles as your membership card. But it’s not just for wholesale shopping. Spending on the Sam’s Club Business MasterCard gives you the opportunity to earn 3% cash back rewards on all restaurant spending worldwide. It also gives 5% cash back rewards on gas (except when purchased at other wholesalers) and 1% on all other spending.

Road warriors and frequent business entertainers will love this card. Plus, the $45 statement credit (if you spend $100 the day you open it) pays for your annual Sam’s Club membership.

The Fine Print
  • APR: 15.15%-23.15%
  • Penalty APR: 29.99% (applied if you make a late payment)
  • Annual fee: $0 (requires $45 Sam’s Club membership)
  • Late fee: Up to $39.99
  • Cash advance fee: Greater of $5 or 3% of transaction
  • Cash advance APR: 20.15%-26.15%
  • Sign-up bonus: $45 statement credit when you spend $100 on your first day (applying in-store makes this easy).
  • Rewards: 1% cash back on all spending. Maximum of $5,000 back in a given year.
  • Bonus rewards: 3% on dining and travel expenses. 5% on gas (up to $6,000 in gas purchases). Gas cannot be purchased from other wholesale clubs.

Apply Now

If you prefer Costco to Sam’s Club, the Costco Anywhere Visa Business Card offers similar terms. Their 4-3-2-1 program includes 4% on gas purchases (up to $7,000 per year), 3% cash rewards for all dining and travel expenses, 2% on Costco purchases, and 1% on all other spending.

While the rewards are sweet, the terms can be expensive. This is not a good card for borrowing, so be sure to pay it off each month.

The Fine Print
  • APR: 0% for seven months, then 15.74%
  • Penalty APR: 29.99% (applied if you make a late payment)
  • Annual fee: $0 (requires $55 Costco membership)
  • Late fee: Up to $37
  • Returned payment fee: Up to $37
  • Cash advance fee: Greater of $10 or 5% of transaction
  • Cash advance APR: 22.49%
  • Rewards: 1% cash back on all spending.
  • Bonus rewards: 4% on gas (up to $7,000 in gas purchases). Gas cannot be purchased from other wholesale clubs. 3% on dining and travel expenses. 2% rewards on all purchases from Costco and Costco.com.

Apply Now

If you’re a frequent business traveller, Chase Ink offers the best rewards. You earn 3 points for every dollar you spend on travel, but you get a travel bonus. Every point is worth 1.25 points when you book through Chase Ultimate Rewards.

Travel perks also include trip insurance, auto rental collision damage waivers (this is primary coverage), and more.

Click here to see details including perks and the fine print.

Gas

 

As a small business owner, you know that driving can be an economical choice, but you can also earn rewards for all those miles on the road. Sam’s Club Business MasterCard gives 5% cash back rewards on gas (except when purchased at other wholesalers), and 1% on all other spending.

Even if you don’t frequent Sam’s Club, this is the best category for rewards for gas purchases.

Click here to see details including perks and the fine print.

Learn More

Risks of Using Small Business Credit Cards

Many business owners see credit cards as an easy solution to their capital needs. But small business credit cards have unique risks. Savvy entrepreneurs will consider the risks before opening a new line of credit. These are the most important considerations.

 

1. Personal Liability

As a small business owner, you’re personally liable for credit card debt. Business bankruptcy won’t protect you. Whether your business succeeds or fails, you have to pay back the debt.

The only way to get rid of small business credit card debt is to declare personal bankruptcy. Bankruptcy destroys your credit history for a few years, and it stays on your report for 7-10 years.

Don’t treat a credit card like venture capital. It’s not. You need to repay it.

2. Credit Bureau Reporting

Small business cards don’t report to the credit bureaus the same way personal cards do. Depending on which card you choose, if you pay your credit card on time, you may not see any information on your personal report. For most business owners, that is a good thing. It will keep your personal credit utilization low.

However, an unpaid bill will show up on your personal credit report. A bill that goes unpaid for 60 days will generally appear on your personal credit report. Some banks offer more generous reporting and some less. You can speak with a banker to determine your bank’s reporting standards. Still, your personal credit score can take a hit at the same time that your business credit runs afoul.

When you take out a business credit card, put precautions in place to protect yourself. You can limit employee spending, and remove authorized users. You can also set up automatic payments each month.

3. Not Protected by the Credit CARD Act

In 2009, Congress passed the Credit CARD Act. The act curtailed predatory lending behaviors, including raising interest rates on existing balances. It also required credit cards to be more transparent about rates and fees.

This act does not apply to business credit cards. With a small business card, banks can raise the interest rate on your existing balance at any time. A higher interest rate means a bigger minimum payment and a longer time to pay off your debt. If you’re using your small business credit card to finance something, you could be at risk.

Still, many banks will not raise your rate if you have an excellent history of on-time payments. It is simply a risk to understand.

Another risk related to the Credit CARD Act is the possibility of double-cycle billing. Business credit cards do not require an interest accrual grace period. This means you may begin accruing interest on purchases right away. We only recommend cards that have a grace period of at least 23 days built in. If you choose a different card, be sure to check for this in the rates and fees schedule.

4. Employee Risk

Small business credit cards make it easy to watch employee spending. Still, they pose serious risks. You’re personally liable for any employee spending on a credit card. If you wouldn’t trust an employee with your wallet, don’t trust them with a company card. Employees can rack up debt and leave the company. That leaves you with a bill and no recourse to get the money back.

The Best Ways Use Small Business Credit Cards

Once you understand the risks of small business credit cards, you can also understand their best uses. Over 65% of small businesses use credit cards on a regular basis. Some use them for rewards, and some for financing. In fact, close to 10% of all small business financing comes from credit cards.

Here are some of the best ways to use a small business credit card.

 

1. Earning Rewards and Protection

If you pay your small business credit card in full each month, you can earn substantial rewards. Many business credit cards offer perks, including cash back, travel rewards, extended warranties, trip insurance, and more. As a business owner, you can reinvest the rewards into your business or take them for personal use.

2. Managing Cash Flow

Cash flow problems destroy small businesses, but credit cards provide short-term working capital. If you have a sales cycle that lasts 30 days or less, a credit card can fund inventory purchases. By the time your bill comes due, you’ll have money to pay it off. If you follow this practice, you’ll pay no interest, and you’ll manage your cash flow.

Credit cards can simplify employee monitoring, too. Most business credit cards allow you to place individual restrictions on employee use. That means you can limit how much and where employees can use company cards. But your employees may manage to misuse the cards. If they do, you will be stuck with the bill.

3. Building Business Credit

Businesses have credit reports just like people. Business credit cards can help you build your score. To build your business credit, hold the card under your employer identification number (EIN).

When your EIN establishes a record of paying its bills on time, it makes your business creditworthy. That means you’ll have an easier time finding long-term loans at great rates.

63% of all small businesses carry debt. Having a lower interest rate on that debt could make the difference between success and failure. This means every small business should take their credit history seriously from the outset. Small business credit cards may allow you to build that history without paying interest or fees.

4. Short-Term Borrowing

Small business credit cards have high interest rates, but they can work for short-term borrowing. If you know that you’ll only carry debt for a few months, you may want to finance something with a credit card.

Credit cards do not have origination fees or prepayment penalties. Sometimes this means that they offer the best terms for short-term borrowing. Just be careful when you borrow, and pay it back quickly. High interest debt compounds over time.

If possible, borrow on a card with a 0% introductory offer. Remember, failing to pay off 0% interest purchases may result in back interest. Be sure you understand the risks before you borrow.

The Worst Ways to Use Small Business Credit Cards

Small business credit cards aren’t always the best tool to get the job done. These are a few times when you should avoid using credit cards.

 

1. Personal Expenses

Bad accounting sinks many entrepreneurs. Always keep your personal spending off of your business credit cards. This will simplify bookkeeping, and it will keep your business credit utilization low. If you need to borrow for personal expenses, look for a low-interest credit card instead.

2. Long-Term Financing

Due to the high interest rates, most businesses should not finance long-term commitments using credit cards. Instead, consider an installment loan from a local credit union or a bank.

Applying for an installment loan can be a pain, but the lower interest rate will be worth it in the long run. Keep money in your pocket and avoid small business credit cards for long-term financing.

3. Cash Advances

Cash advances are the most expensive way to use a credit card. Banks begin charging interest right away, and the advance has a higher interest rate. Cash advances also have high fees of up to 10% of the amount you withdraw.

If you need cash, withdraw it from your business checking account instead, or take out a traditional loan.

4. Financing a Failing Business

Do not use credit cards to help a failing business limp along. Too many people will not give up on their idea even when the execution doesn’t work out. Credit card debt will bury a failing company and erode your personal wealth.

Remember, negative credit behavior will show up on your personal credit report. Plus, courts hold you liable for all credit card debt your business incurs. Use an objective lens to decide whether you need to shut down your business.

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Best of

The Best Tax Software 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.

 

If you’re like most Americans, you dread filing your taxes. You have to track down the right forms, deal with the IRS, and try to remember all your deductions and credits. That’s why so many people turn to online tax software to help file taxes. Great tax software simplifies the filing process without draining your pocketbook. But choosing the right software can be as much work as filing your taxes.

To help you choose the right software, we’ve tested 11 of the leading online tax software packages. We’ve ranked each software on the following criteria: usability, helpfulness of support articles, availability of audit support, and accessibility of tax and technical support. Then, we compared these criteria to the price to determine which software package is best for your situation.

Which tax software fits your needs? Find out below.

Best Tax Software of 2017

Best Free Filing Service

Of the 11 tax software packages we reviewed only two allow all users to file state and federal taxes for free.

Best Software: Credit Karma Tax

Credit Karma Tax features an outstanding user interface with easy interview questions. The built-in calculators make Credit Karma appropriate for even complex filers. You can’t import information, and Credit Karma doesn’t have robust help, but it’s easily the best software you can use for free.

 

Runner-up: DIY Tax

DIY Tax is a joint partnership between Liberty Tax Services and eSmart Tax. Their user interface is clunky, but it has all the functionality you need. Their software interface allows you to import prior tax returns, and they have excellent support articles.

Best for Simple Filing

Simple filers are W-2 employees who claim the standard deduction. You typically file as Single or Married Filing Jointly. You don’t have dependents, and you earn less than $100,000.

Best Software: TaxAct, free edition

TaxAct offers completely free state and federal filing options for simple filers. However, they do charge $10 for prior year import. The user experience is easy, and TaxAct offers free tax and technical support.

Runner-up: Credit Karma Tax

Credit Karma Tax offers free filing for all users, and they have an easy-to-use interface. While they only offer email tech and tax support, Credit Karma allows simple filers to explore more complex credits and deductions for free.

Best for Maximizing Deductions and Credits

Charitably inclined people, most homeowners, parents who pay for child care, and people who qualify for the earned income tax credit may want to maximize deductions and credits.

Best Software: Credit Karma Tax

Most software packages require you to upgrade to itemize deductions or claim credits. With Credit Karma Tax you can claim them for free. The only problem with Credit Karma Tax? If you fail to qualify for a credit, they don’t offer great explanations.

Runner-up: TaxSlayer Classic

TaxSlayer Classic offers federal filing for $17 and state filing for $22. The software is easy to use and intuitive. It even allows you to upload your W-2 form. For maximizing deductions and credits, you won’t find a better software for the price. TaxSlayer gives you access to technical support, but you need to upgrade to ask tax-related questions.

Easiest for New Filers

We assume that new filers have simple forms to file, but they want a clear user interface and ready access to tax and technical support.

Best Software: 1040.com EZ

1040.com offers free federal filing, and state filing for $9.95. Normally, we don’t recommend paying for a service that you can get for free elsewhere, but new filers will love 1040.com’s user interface and live chat support. Their tax and tech professionals can quickly guide you if you get stuck.

Runner-up: Credit Karma Tax

Credit Karma Tax has an excellent user interface that you can use for free. Even new filers can use the interview questions to determine whether they qualify for credits or deductions. Unfortunately, Credit Karma only offers email support.

Best Audit Protection

The IRS has the right to audit anyone, but people with complex taxes run a greater audit risk. No tax software (or accountant) can prevent you from getting audited. However, some tax software will give you access to a tax specialist or accountant if you undergo an audit. These are the software services that can lend a hand if you need it.

Best Software: FreeTaxUSA Deluxe

FreeTaxUSA Deluxe costs $6.99 for federal filing and $12.95 for state filing. FreeTaxUSA does not feature an intuitive user interface, but they have built-in calculators that most complex filers need. They also promise to give you personal assistance if you’re audited. If you can stand the software, it’s the best price for audit protection.

Runner-up: TaxSlayer Premium

TaxSlayer Premium costs $35 for federal filing and $22 for state filing. At the Premium level, trained tax professionals will help you if you’re audited after using the TaxSlayer software. The software is generally easy to use. However, the amortization and depreciation calculators can be confusing.

Why H&R Block and TurboTax didn’t make the cut

Historically, H&R Block included audit assistance with all of their paid programs. This year, you can only get that protection if you purchase the desktop software. If you purchase H&R Block online, you can pay an additional $79.99 for a “Best of Both” package. In this package, a tax professional reviews your filing, and they offer in-person support if the IRS audits you.

In the past, TurboTax included audit assistance with their paid package. This year, if you want audit assistance from TurboTax, you have to pay for the $44.99 “MAX” package. They give some additional security measures and access to in-person support if you’re audited.

Because of the increase in price, these historic powerhouses didn’t make the cut for best audit protection.

Best Interface for Health Care Premium Tax Credit

Health insurance isn’t only confusing during open enrollment. Tax time means that you’ll need to figure out how much of the premium tax credit you qualified for during the year. If you were on an Obamacare health plan for any part of the year, you’ll need to look for software that can handle this credit.

Best Software: OLT.com

OLT.com offers free federal filing and $9.95 state returns. It’s got a poor user interface, but their Affordable Care Act section offers excellent support articles, and it’s easy to use. You can’t import forms, but it’s easy to copy data from your 1095-A onto the software.

This software is only appropriate for simple filers with a marketplace plan. Everyone else should look elsewhere.

Runner-up: TurboTax Deluxe

TurboTax Deluxe costs $34.99 for federal filing and $36.99 for state filing. This is a steep price if you want to itemize deductions and maximize credits. However, TurboTax offers the best Affordable Care Act information on the market. They even allow you to upload your 1095-A form to the software.

Best for Investors

If you buy and sell stocks, bonds, or options outside of your tax-advantaged retirement accounts, you need a tax software that can handle all your information. Tax software for investors needs to handle dividends as well as short-term and long-term capital gains.

Best Software: H&R Block Premium – Online version

H&R Block Premium online software costs $54.99 for federal filing and $36.99 for state filing. But the price is well worth it in this case. H&R Block allows you to import all major forms from many financial institutions. If you actively trade, you need this capability. H&R Block also has accurate accounting for short-term gains and losses, which will help investors minimize the tax they owe. H&R Block also has helpful community forums and unlimited real-time chat support if you need help.

Runner-up: Credit Karma Tax

Credit Karma Tax offers a free solution for all kinds of investors. You must manually enter all your trading information, but Credit Karma calculates capital gains and losses and the appropriate tax rate. It’s a decent (and free) solution for less active investors.

Best for Real Estate Investors

Real estate investors need to calculate depreciation. They need to amortize certain expenses and deduct others. This can be confusing for DIY tax preparers. The best tax software for real estate investors needs to feature helpful support articles, intuitive depreciation and amortization calculators, and as many import features as possible.

Best Software: TurboTax Premier

TurboTax Premier costs $54.99 for federal filing and $36.99 for state. The real estate portion of TurboTax is second to none. If you use QuickBooks software to manage your real estate accounting, you can connect it directly to TurboTax. If you don’t, you can still upload a Schedule E or use the robust calculators.

Runner-up: H&R Block Premium

H&R Block Premium also costs $54.99 for federal filing and $36.99 for state. The software allows users to import many documents including an entire Schedule E. The depreciation and amortization calculators offer standard inputs, but they are flexible enough for special events. H&R Block also makes it easy to import last year’s tax return. Most real estate investors need this to accurately report depreciation.

Best for Self-Employed People

Are you a freelancer or contractor? If so, you know that you can deduct many business-related expenses. This means that taxes can get messy in a hurry. The best tax software for self-employed people makes it easy to claim business deductions. It will also offer robust explanations that will help you understand amortizing equipment expenses and whether you qualify for a home office deduction.

Best Software: Credit Karma Tax

Credit Karma Tax makes it easy for you to find and deduct appropriate expenses if you’re self-employed. Their built-in amortization calculators are easy to use, and Credit Karma offers helpful explanations. Outside of the most complex self-employment situations, Credit Karma is a simple filing solution.

Runner-up: Jackson Hewitt Basic

Jackson Hewitt Basic software offers one of the lowest cost Schedule C-EZ forms if you’re self-employed. The cost is $19.95 for federal returns and $36.95 for state returns. Their extensive support articles and helpful interface mean that you can find the help you need at the right price. Plus, you can get unlimited live chat support from technical assistants. If you need help from tax experts, you will have to pay for a consultation at a local Jackson Hewitt office.

Best Bargain for Self-Employed People

When you’re self-employed, you don’t always have the luxury of choosing the best-value product. Sometimes, you just need the cheapest product that will get the job done. If that’s you, these are the software products you should consider.

Best Software: Credit Karma Tax

Credit Karma Tax is the best 100% free option if you’re self-employed. It offers all the functionality you need.

 

Best Software: FreeTaxUSA

FreeTaxUSA allows free federal filing and $12.95 state filing. Their calculators and website are adequate for self-employed people. This software allows you to deduct mileage, amortize expenses, and categorize meals and entertainment. FreeTaxUSA isn’t beautiful, but it gets the job done at a low price. If you upgrade to Deluxe, you’ll even get audit assistance.

Best for Small Businesses

Sole proprietors and single member LLCs can also use tax software for self-employed people. As long as the software supports a Schedule C, it will work for your small business needs.

If you’re part of a partnership, a corporation, or a multi-member LLC, then you need more than the standard tax software that we reviewed above.

Corporations need software that supports Form 1120. S Corporations (with more than one member) need tax software that supports Form 1120S. Partnerships and multi-member LLCs need software that supports Form 1065.

If you need business tax software consider one of these options.

TurboTax Business

$149.99 federal (up to five federal e-files); $49.99 per state + $24.99 per state e-filing fee.

TurboTax Business offers the same interview style interface that consumers love, but it offers increased functionality. Small business owners will especially love that they can use it to create unlimited W-2 forms and 1099-MISC forms.

H&R Block Premium and Business

$79.95 federal (up to five federal e-files); first state software free, after that: $35 per state + $19.95 per state e-filing fee. H&R Block offers an excellent interview style user interface with increased functionality such as creating employee forms. This software supports the major forms for businesses, plus the form for nonprofit organizations.

TaxAct for Small Businesses

TaxAct bundles federal and state filing and software for a total of $100. You can purchase federal filing only for $60. TaxAct has a slightly more stripped-down user interface than H&R Block or TurboTax, but business owners can easily complete everything. You can even create as many employee tax forms as you need.

 

Tax Software Pricing, Plans, and Insights

Credit Karma Tax

Credit Karma Tax offers free federal and state filing for all users. With a robust and easy-to-use interface, it’s an excellent default choice for most filers. Their guided path through the tax software is as good as the most expensive tax software on the market. But it has a few shortfalls. You can’t import your prior year’s taxes. This makes year-to-year comparisons impossible within the software. You also can’t import any forms, which can be a pitfall for active traders and real estate professionals.

Credit Karma offers tax and tech support via email. They currently have at least a 3-day wait time for answers. Credit Karma doesn’t offer audit support either.

Superlatives: Best Free Filing Service, Best for Maximizing Deductions and Credits, Best for Self-Employed People, Best Bargain for Self-Employed People, Runner-up Best for Simple Filing, Runner-up Easiest for New Filers, Runner-up Best for Investors

DIY Tax

DIY Tax offers 100% free federal and state filing for everyone. Their user interface is a bit clumsy, but it proves accurate and usable. They even allow you to import your prior year’s taxes for your reference. Real estate investors and small business owners need to be careful with this platform. The depreciation and amortization calculators can be confusing. Their software offers technical support, but they push Liberty Tax Service offices for tax support. The software doesn’t come with an audit support guarantee.

DIY Tax is sponsored by Liberty Tax, and you will see ads for their offices in the software. Remember, filing in a Liberty Tax office isn’t free.

Superlatives: Runner-up Best Free Filing Service

eSmart Tax

eSmart Tax and DIY Tax are the same software package. However, you have to pay for eSmart Tax. Why would you pay? The Deluxe and Premium packages offer unlimited phone or email support from tax specialists, which can prove helpful. But in most cases eSmart Tax isn’t a great option.

 

Free Basic Deluxe Premium
Price $0 Federal $29.95 State $14.95 Federal
$29.95 State
$19.95 Federal
$29.95 State
$34.95 Federal
$29.95 State
Best For 1040EZ Homeowners, people with dependents, sole proprietors Stock market investors without capital gains or losses Freelancers, real estate investors, people who sold a home in the previous years

Superlatives: None

TaxSlayer

TaxSlayer has an incredible user interface and helpful support articles. When it comes to itemizing deductions or finding credits, it is one of the easiest to use tax software packages on the market.

Unlike most tax software, TaxSlayer supports all forms on its second-tier Classic level. This means that anyone could complete their entire tax return at a relatively low price. Their Premium level gives you access to live chat support, audit protections, and help from tax professionals.

However, TaxSlayer has two demerits. First, you cannot import a prior year’s tax return from a competitor. The only tax information you can use is information you entered into TaxSlayer during a previous tax year. Second, TaxSlayer doesn’t allow you to see internal calculations for depreciation and amortization. That makes TaxSlayer inappropriate if you’re a real estate investor or self-employed.

 

Simply Free Classic Premium
Price $0 Federal
$0 First State ($22 each additional)
$17 Federal
$22 State
$35 Federal
$22 State
Best For 1040EZ All others (itemizers, stock market investors, real estate investors, self-employed, etc.) Comes with audit assistance, ask a task professional, and live chat support

Superlatives: Runner-up Best Audit Protection, Runner-up Best for Maximizing Deductions and Credits

TaxAct

When does free really mean free? When it comes to simple tax filing through TaxAct. People who file a 1040 or 1040EZ can file federal and state taxes for free through TaxAct. Even if you don’t qualify for free filing, TaxAct usually represents an excellent value. At any level, you can receive phone and email support from tax and technical professionals. TaxAct doesn’t offer audit support, but it is priced accordingly.

For the most part, TaxAct simplifies tax filing. It uses simple questions, helpful knowledge articles, and easy navigation to help you complete your taxes. They even make it easy to import your prior year’s taxes into their software. TaxAct also offers some of the best guidance if you’re a stock market investor or self-employed.

Despite all these praises, the software stumbles somewhat on its real estate coverage. The depreciation calculator seems clumsy in certain areas. Outside of this flaw, TaxAct offers tremendous value for the price.

 

Free Plus Premium
Price $0 Federal
$0 State
$27 Federal
$33 State
$37 Federal
$33 State
Best For 1040EZ, 1040A (no dependents, claiming standard deduction) Itemizers, stock market investors Self-employed, real estate investors

Superlatives: Best for Simple Filing

OLT.com

OLT.com offers bargain basement pricing, but it shows in the interface. You have to pay $7.95 for tax and technical support. Nonetheless, the $7.95 also brings audit support, which offers some value.

Their clumsy user interface only allows you to import prior year tax forms from its own database. Their support articles send you to the even more confusing IRS website.

However, OLT.com offers a few bright spots. The health insurance coverage is easy and accurate. It is the only tax software that makes it easy to claim the premium tax credit for part of the year. Also, the real estate depreciation calculators are flexible enough to deal with complex circumstances.

In most cases, we don’t recommend OLT.com, but a few people may benefit.

 

Free Premium
Price $0 Federal
$9.95 State
$7.95 Federal
$7.95 State
Best For All major schedules supported Anyone who wants audit support

Superlatives: Best Interface for Health Care Premium Tax Credit

1040.com

According to 1040.com, tax filing should be smart and simple. If you’re a new filer or a freelancer with basic expenses, 1040.com delivers. 1040.com offers free live chat and email technical support. They also have support articles that are approachable and informative.

In fact, their entire software is friendly and informative. New filers are likely to appreciate the high-quality and low-cost support from 1040.com, but other simple filers can find better deals elsewhere. Their friendly interview style interface starts to falter if you’re a real estate or stock market investor. You will need to add forms that don’t have built-in calculators. This means that 1040.com is best for people with less complexity in their filing.

 

Free $19.95 $39.95
Price $0 Federal
$9.95 State
$19.95 Federal
$14.95 State
$39.95 Federal
$19.95 State
Best For 1040EZ Stock market investors Self-employed, real estate investors, itemizers

Superlatives: Easiest for New Filers

H&R Block Online

H&R Block is one of the biggest names in tax software for good reason. People with complex tax returns will love the value that H&R Block offers. H&R Block offers unlimited technical support to all filers, and phone and chat tax support for those who pay. The only disappointment is that H&R Block online filing customers do not get a free in-person audit support. This is reserved for those who purchase a $79.99 “Best of Both” upgrade or who download H&R Block’s software.

However, the H&R Block interface offsets this disappointment. H&R Block offers easy navigation, helpful interview questions, and robust articles that can help you untangle even the most complex filing situation. H&R Block’s built-in calculators are flexible enough to deal with uncommon filings. Plus, you can import most major forms, including prior year’s tax returns from competitors. This makes H&R Block ideal for anyone with complex filings.

Their software isn’t quite as easy to use as TurboTax, but it’s quite a bit less expensive. In particular, freelancers and self-employed people with basic expenses will see huge value since they can purchase the Deluxe edition.

 

Free Deluxe* Premium*
Price $0 Federal
$0 State
$34.99 Federal
$36.99 State
$54.99 Federal
$36.99 State
Best For New filers, basic filers (allows for earned income tax credit), homeowners Stock market investors, self-employed with basic expenses, other itemizers Real estate investors, self-employed with more complex expenses

*Deluxe and Premium filers can upgrade to a $79.99 “Best of Both” package. This means that a CPA will review your return and you’ll receive in-person audit assistance.

Superlatives: Best for Investors, Runner-up Best for Real Estate Investors

TurboTax

If you’re looking for the Cadillac of tax software, TurboTax emerges as the winner. Their interface is easy to use and navigate. TurboTax even allows you to import last year’s taxes from any of their competitors. 1040EZ filers will even get to file federal and state returns for free. After that, the price climbs quickly. But for many filers the high price is well worth the cost.

The interview style format makes tax filing simple, even if you’re facing a complex situation. Paying customers who get stuck can get help from tax or technical professionals. TurboTax takes their support seriously. With your permission, support staff can “draw” on your screen to guide you through tough situations.

Real estate investors, self-employed people, and small business owners will appreciate TurboTax’s robust interface. The one thing they won’t appreciate? The price of audit support. TurboTax’s MAX costs $44.99. This is the only way to get audit support from TurboTax this year.

 

Free Deluxe Premium Self-Employed
Price $0 Federal
$0 State
$34.99 Federal
$36.99 State
$54.99 Federal
$36.99 State
$89.99 Federal
$36.99 State
Best For 1040EZ/ 1040A Itemizers Investors, real estate investors Self-employed

*Anyone can upgrade to TurboTax’s MAX for $44.99.

Superlatives: Best for Real Estate Investors, Runner-up Best Interface for Health Care Premium Tax Credit

FreeTaxUSA

FreeTaxUSAand TaxHawk offer the same tax software at the same price. They are owned by the same parent company, and you can even move your profile from one site to the next. The websites aren’t pretty, but experienced filers will find everything they need to complete their taxes. You can even upload prior year’s tax returns from competitors. This is a huge value given the bargain basement pricing.

FreeTaxUSA offers two pricing tiers. Both levels support all major tax forms. You can also access chat support from tax and technical specialists from both levels. However, upgrading will give you priority access to specialists. Upgrading also gives you access to a tax specialist if you’re audited.

The name might lead you to believe you’re getting free tax filing, but you’ll have to pay at least $12.95 for state filing. Nonetheless, FreeTaxUSA is a great bargain — especially if you have a complex filing situation.

 

Free Premium
Price $0 Federal
$12.95 State
$6.99 Federal
$12.95 State
Best For All major schedules supported Anyone who wants audit support

Superlatives: Best Audit Protection, Best Bargain for Self-Employed People

Jackson Hewitt Online

Jackson Hewitt brings the neighborhood tax filing office online. They feature excellent knowledge articles and easy interview style tax filing. It’s easy to import your taxes from any major competitor or from Jackson Hewitt. This makes switching to Jackson Hewitt Online easy.

Built-in calculators make depreciation and amortization easy. However, Jackson Hewitt doesn’t offer many import options. This makes their relatively high pricing difficult to justify. Simple filers (1040EZ) and self-employed people with basic expenses may see high value in the Jackson Hewitt software. After all, they offer live chat tech support to all their customers. If you need tax support, you’ll have to upgrade to Premium to get the phone support.

Jackson Hewitt also allows online filers to pay extra for an in-person tax consultation. Prices for these meetings vary by location.

It’s important to note that this review is only for the online Jackson Hewitt software package. Magnify Money did not review Jackson Hewitt office preparations.

 

Free Basic Deluxe Premium
Price $0 Federal
$0 State
$19.95 Federal
$36.95 State
$34.95 Federal
$36.95 State
$54.95 Federal
$36.95 State
Best For 1040EZ Freelancers Investors, families with dependents, homeowners, itemizers Small business owners, real estate investors

Superlatives: Runner-up Best for Self-Employed People

 

Tax Software FAQs

Is online tax software safe?

Tax-related identity theft is the number one reported form of identity theft. However, most theft isn’t the direct result of using online software. Any time you apply for a credit card or use online banking, your information enters the digital world. If this information gets stolen, you’re at risk. Nobody can eliminate the possibility of identity theft, but you can work to protect yourself.

Part of protecting yourself involves only giving out your information on trusted websites. When you file your taxes, you provide all your personally identifiable information to a software service. You need to know whether or not that information is safe.

Every software company that we reviewed is an Authorized IRS e-File provider. This means that these sites comply with the security and business standards set forth by the IRS.

None of the software packages we reviewed will sell your personal information to a third party. Each of the software packages we reviewed requires you to use multi-factor authentication. This makes it difficult for hackers to access your personal information. These websites are as secure as possible, but they are not 100% safe.

If you think you’ve been the victim of tax fraud, contact the IRS immediately at 1-800-908-4490 to work with their resolution specialists. You will need to file an identity theft affidavit that explains that someone filed taxes in your name.

What if I don’t want to use tax software?

If you don’t want to use tax software, you can choose a paper filing option. Each state requires you to mail your check to a different office.

You can also use the IRS’s free electronic fillable forms. However, these offer limited guidance and can be difficult to use. With so many other free options, these should be a last resort.

Finally, you can hire a professional tax preparer to do your taxes for you. Be sure that the person you hire is in the Directory of Federal Tax Return Preparers with Credentials and Select Qualifications.

Should I hire an accountant?

An accountant can save you time, headache, and in some cases, money. Tax professionals must follow the tax code, but their specialized knowledge helps them pick up on deductions or credits that you might miss on your own.

In general, the more complex your tax return, the more you may want to hire an accountant. If you choose to hire an accountant, be sure that they are an authorized tax return preparer. They should sign your return as an authorized preparer.

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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.

food_lg

Updated April 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. 

Unlimited Cash Back 

Chase AARP Visa – 3% Cash Back
Get 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.

Sam’s Club Mastercard – 3% Cash Back

You get (almost) unlimited 3% dining cash back with the Sam’s Club Mastercard. The catch is you can earn a maximum of $5,000 in cash back rewards a year, but that’s a huge amount. You’d have to spend over $160,000 on the card in a year to hit that cap, so it’s unlikely you’ll need to worry about the maximum.

The card also earns 3% cash back on travel and 5% cash back on gas, though that’s capped on the first $6,000 in gas purchases a year. And while there’s no annual fee for the card, you do need to be a Sam’s Club member to hold the card.

Costco Anywhere Visa – 3% Cash back

costcoanywhereLike the Sam’s Club card, you can get a full 3% cash back on restaurant purchases with the Costco Anywhere Visa. The card also earns 3% back on travel purchases, 2% on Costco purchases, and 4% on gas for the first $7,000 in purchases a year.

There’s no annual fee for the card, but you need to be a Costco member to hold the card, so if you don’t have a membership already, you’ll be paying extra to get this card.

Cash Back with Limits

Huntington Voice Credit Card – 3% Cash Back

You 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.

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

Like 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.

Santander Bravo MasterCard – 3% Cash Back

Earn 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.

Quarterly Cash Back

Discover it® Cashback Match(TM)  – up to 5% Cash Back

Discover it cash back credit cardYou can earn 5% cash back in rotating bonus categories (on up to the quarterly maximum of $1,500 of spend, each time you activate). From April until June 2017, the bonus categories are home improvement stores and wholesale clubs. Restaurants have been a category in the past, and it is possible that restaurants could be a category in the future. You must opt in to receive the quarterly cash back bonus boost. All other purchases get 1% cash back. 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.

Chase Freedom

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. 

Nusenda Cash Rewards – 5 % Cash Back

platinum rewads card by nusendaThe 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 the 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.

promo-cashback-wide

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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%

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.

Fort Knox Federal Credit Union – 0% APR for 12 months, NO FEEGas: Fort Knox Credit Union Platinum Visa – 5%

You might not have heard of this credit union, but anyone can join.
You 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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