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Best Credit Cards for Black Friday and Cyber Monday 2018

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication. This site may be compensated through a credit card partnership.

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Black Friday and Cyber Monday are fast approaching. Last holiday season, the majority of shoppers (85%) used a credit card or store card to buy their holiday items. That’s an 8% increase from 2016, and if the trend continues, credit card use will increase again this holiday season.

Folks who are trying to decide which credit card to take with them on their holiday shopping spree would do well to choose — and spend — wisely.

Some 44% of shoppers accrued over $1,000 in holiday debt in 2017, according to a MagnifyMoney survey, — and the majority of debt sufferers didn’t plan on it. Falling into unexpected debt can damper your holiday season and it may take you a long time to finally dig yourself out of debt.

But, if you use the right credit card along with responsible credit behavior, you can have a successful, debt-free holiday shopping season.

There are credit cards tailored to various holiday expenses such as supermarket purchases, online shopping at Amazon.com, purchases at department stores and much more. By using the right card, you can earn rewards to reduce the cost of your bills and even finance your holiday shopping so you avoid falling into debt.

In this roundup, we found the best credit cards that you can use on Black Friday and Cyber Monday, so you can maximize rewards regardless of where you plan to shop. We’ve also included several cards that offer 0% intro periods that can help you finance big-ticket purchases and even several smaller purchases.

Best for Amazon

The online shopping giant offers pretty much anything you can ask for, from electronics, to clothes, to food — perfect for a one-stop destination to get all your holiday shopping needs. You can use one of their Amazon-branded credit cards or a cashback card that rewards you for Amazon.com purchases. Rewards can be redeemed for a statement credit that helps to reduce your bill, and may be redeemable for future Amazon.com purchases.

Amazon Prime Rewards Visa® Signature Card

The information related to Amazon Prime Rewards Visa® Signature Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Amazon Prime Rewards Visa® Signature Card

Regular Purchase APR
16.24% - 24.24% Variable
Annual fee
$0
Rewards Rate
Earn 5% back at Amazon.com and Whole Foods Market with eligible Prime membership, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases.
Credit required
good-credit

Good

The Amazon Prime Rewards Visa® Signature Card offers the most rewards for your Amazon.com spending of any card around — Earn 5% back at Amazon.com and Whole Foods Market with eligible Prime membership, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases. This is a fantastic rate that’s great for people looking to do the majority of their Black Friday and Cyber Monday shopping on Amazon.com. Plus, if you’re already a Prime member, this card is a no-brainer since there’s a $0 annual fee. However, if you’re not currently a Prime member, the cost is currently $119 for an annual membership. There is a new cardmember offer that helps offset the annual fee — Get a $70 Amazon.com Gift Card instantly upon credit card approval.

Amazon Rewards Visa® Signature Card

The information related to Amazon Rewards Visa® Signature Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Amazon Rewards Visa® Signature Card

Regular Purchase APR
16.24% - 24.24% Variable
Annual fee
$0
Rewards Rate
Earn 3% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases.
Credit required
good-credit
Excellent/Good

If you don’t want to become a Prime member, there is a version of this card that doesn’t require a Prime membership — the Amazon Rewards Visa® Signature Card. However, you’ll earn a lower rewards rate at Amazon.com and receive a lower new cardmember offer. Earn 3% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases. Get a $50 Amazon.com Gift Card instantly upon credit card approval.

Discover it® Cash Back

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Rates & Fees

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Discover it® Cash Back

Regular APR
13.99% - 24.99% Variable
Intro Purchase APR
0% for 14 months
Intro BT APR
0% for 14 months
Annual fee
$0
Rewards Rate
5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.
Balance Transfer Fee
3%
Credit required
good-credit
Excellent/Good Credit

An alternative to an Amazon-branded store card is a cashback card that offers Amazon.com as a bonus category. The Discover it® Cash Back has Amazon.com and wholesale clubs as a bonus category from October to December 2018 — which is perfect for your holiday shopping. You’ll earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com or wholesale clubs up to the quarterly maximum each time you activate. One percent unlimited cash back automatically on all other purchases.

There is a $1,500 quarterly maximum for the bonus categories, which comes out to $75 cash back at the 5% rate before it drops to 1%. Depending on how much you plan to spend at Amazon.com and wholesale clubs, this may not be an issue. But, if you think you’ll spend over $1,500 in these two categories this October to December, you should consider the Amazon Prime Rewards Visa® Signature Card since it doesn’t have a quarterly maximum.

Best for department stores

If you do the majority of your Black Friday and Cyber Monday shopping at department stores like Macy’s and Bloomingdale’s, a card that offers a competitive rewards rate on these purchases can come in handy. Department stores typically offer their own store cards, but you can only use them at their store. Therefore, if you plan on shopping at multiple department stores, you’d need a store card for each store. This can be a hassle, so we’ve recommended credit cards that can be used anywhere and still earn above average rewards at eligible department stores.

The two cards we recommend offer high rewards rates at select department stores including Macy’s and Bloomingdale’s, plus tons of other stores. We do want to point out that the Chase Freedom® has more qualifying department stores than the Blue Cash Preferred® Card from American Express — providing more flexibility.

Chase Freedom®

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Chase Freedom®

Regular Purchase APR
16.99% - 25.74% Variable
Intro Purchase APR
0% Intro APR on Purchases for 15 months
Intro BT APR
0% Intro APR on Balance Transfers for 15 months
Annual fee
$0
Rewards Rate
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.
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Credit required
good-credit
Excellent/Good

The Chase Freedom® is a rotating cashback card that allows cardholders to 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. From October to December 2018, department stores, wholesale clubs and Chase Pay® are 5% bonus categories. You can earn a great rate on those purchases, but take note that spending at the 5% cashback rate is limited to $1,500 a quarter before it drops down to 1% cash back. If you want a wide selection of department stores to earn 5% cash back (up to a quarterly max of $1,500, then 1%) and don’t mind activating the bonus categories, the Chase Freedom® can be a good choice for your Black Friday and Cyber Monday department store shopping.

Eligible department stores include:

  • Aliexpress*
  • Beall’s of Florida
  • Belk
  • Bergdorf Goodman*
  • Bergners*
  • Bloomingdale’s
  • Boscov’s Department Store
  • Boston Store*
  • Carson’s*
  • Dillard’s
  • Elder-Beerman*
  • Goody’s*
  • Gordmans*
  • Gump’s*
  • Herberger’s*
  • J.C. Penney
  • Kohl’s
  • Lord & Taylor
  • Macy’s
  • Neiman Marcus
  • Nordstrom & Nordstrom Rack
  • Peebles Dept Store*
  • Saks Fifth Ave & Off Fifth
  • Sears
  • Stage Stores*
  • Stein Mart
  • The Bon Ton
  • Von Maur*
  • Younkers*

*Not an eligible department store with the Blue Cash Preferred® Card from American Express.

Blue Cash Preferred® Card from American Express

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Rates & Fees

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Blue Cash Preferred® Card from American Express

Regular Purchase APR
14.99%-25.99% Variable
Intro Purchase APR
0% for 12 months
Intro BT APR
0% for 12 months
Annual fee
$95
Rewards Rate
6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 3% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
Balance Transfer Fee
Either $5 or 3% of the amount of each transfer, whichever is greater.
Credit required
good-credit
Excellent/Good

The Blue Cash Preferred® Card from American Express doesn’t offer as high a rewards rate at select U.S. department stores compared with the Chase Freedom®, but it has the advantage of no quarterly limits or activation. Cardholders earn 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 3% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases. This card does have a $95 annual fee, but if you spend $3,167 a year at select U.S. department stores, you’ll earn enough cash back to cover the annual fee.

Eligible department stores include:

  • Bealls
  • Belk
  • Bloomingdale’s
  • Bon Ton Stores
  • Boscov’s
  • Century 21 Department Stores*
  • Dillard’s
  • J.C. Penney (JCP)
  • Kohl’s
  • Lord & Taylor
  • Macy’s
  • Neiman Marcus
  • Nordstrom
  • Saks Fifth Avenue
  • Sears
  • Stein Mart

*Not an eligible department store with the Chase Freedom®.

Best for general shopping

When you go holiday shopping, you typically won’t just shop at one store, you most likely will need to make a few stops in store or online to get everything you need. To maximize your rewards on all your purchases, you’ll either need several credit cards or you can simply use a flat-rate cashback card that earns the same rewards rate on all your shopping — whether it’s online, in department stores, wholesale clubs or elsewhere.

Citi® Double Cash Card – 18 month BT offer

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Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
15.49% - 25.49%* (Variable)
Intro Purchase APR
N/A
Intro BT APR
0% for 18 months on Balance Transfers*
Annual fee
$0*
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
Balance Transfer Fee
3% of each balance transfer; $5 minimum.
Credit required
good-credit
Excellent, Good

The Citi® Double Cash Card – 18 month BT offer is consistently our top choice for a flat-rate cashback card since you earn 2% cash back on purchases: 1% when you buy plus 1% as you pay. That’s double the amount a traditional rewards card earns on everyday purchases and can simplify your wallet. You can use this card on all your purchases and earn competitive rewards without worrying which card to use. However, if you do have several credit cards, use them for the transactions they earn the most rewards in, and then use the Citi® Double Cash Card – 18 month BT offer on all other purchases.

In addition to a cashback program, this card has the Citi® Price Rewind benefit. When you register eligible items with Citi® Price Rewind, Citi will conduct a 60-day search from purchase date to see if there’s a lower price. If a lower price is found, you may be reimbursed for the difference between what you paid and the lower price. You can also submit a claim if you find a lower price. Note, the Citi® Price Rewind benefit is limited to $200 an item and $1,000 per calendar year.

Best for wholesale clubs

During the holidays you most likely will be traveling to visit family and friends or entertaining guests at your home. Shopping at wholesale clubs can be a great way to stock up on needed items for entertaining, cooking and gift-giving. Wholesale clubs like BJ’s, Costco, and Sam’s Club offer their own co-branded credit cards that members can use to earn rewards. There are also some cards from major issuers that offer wholesale clubs as a bonus category during the holiday months. Just remember that if you plan on shopping regularly at wholesale clubs, you’ll need an active membership. However, many clubs offer free one-day passes where you can shop around without a membership, and you can also piggyback off a friend or family member’s membership.

From October to December 2018, two cards are offering wholesale clubs as a bonus category — the Chase Freedom® and the Discover it® Cash Back. Keep in mind you need to activate the bonus categories for the 5% cash back to take effect. And, the amount of cash back you can earn at the 5% cashback rate has a $1,500 quarterly maximum before the cashback rate drops to 1%. So, that’s up to $75 cash back at the 5% rate. You can use these cards for your wholesale club shopping this holiday season and reap the rewards. If you’re a member of multiple wholesale clubs or don’t want a club-specific credit card, these cards are a good choice.

Discover it® Cash Back

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Rates & Fees

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Discover it® Cash Back

Regular APR
13.99% - 24.99% Variable
Intro Purchase APR
0% for 14 months
Intro BT APR
0% for 14 months
Annual fee
$0
Rewards Rate
5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.
Balance Transfer Fee
3%
Credit required
good-credit
Excellent/Good Credit

Chase Freedom®

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Chase Freedom®

Regular Purchase APR
16.99% - 25.74% Variable
Intro Purchase APR
0% Intro APR on Purchases for 15 months
Intro BT APR
0% Intro APR on Balance Transfers for 15 months
Annual fee
$0
Rewards Rate
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.
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Credit required
good-credit
Excellent/Good

Best for supermarkets

While shopping at your local supermarket on Black Friday won’t likely be on the top of your list, getting a good supermarket rewards card can help ease the sting of holiday grocery bills. The Blue Cash Preferred® Card from American Express has a rewards program tailored to U.S. supermarket spending with 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 3% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases. However, this card comes with a $95 annual fee that isn’t worthwhile for everyone.

There is a $0 annual fee version of this card, the Blue Cash Everyday® Card from American Express. But, that card offers half as much cash back with 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases. If you don’t want to pay an annual fee, then it can be a better choice.

You should consider how much you spend each month at U.S. supermarkets before you settle on a card. If you spend over $264 a month ($61 a week) at U.S. supermarkets, you’ll see more benefit from the Blue Cash Preferred® Card from American Express. But, if you spend less than $264 a month at U.S. supermarkets, then you should stick with the $95 annual fee Blue Cash Everyday® Card from American Express.

Take note that superstores, convenience stores and warehouse clubs like BJ’s, Target and Walmart aren’t considered U.S. supermarkets and will earn 1% cash back.

Blue Cash Preferred® Card from American Express

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Rates & Fees

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Blue Cash Preferred® Card from American Express

Regular Purchase APR
14.99%-25.99% Variable
Intro Purchase APR
0% for 12 months
Intro BT APR
0% for 12 months
Annual fee
$95
Rewards Rate
6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 3% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
Balance Transfer Fee
Either $5 or 3% of the amount of each transfer, whichever is greater.
Credit required
good-credit
Excellent/Good

Blue Cash Everyday® Card from American Express

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on American Express’s secure website

Terms Apply

Rates & Fees

Read Full Review

Blue Cash Everyday® Card from American Express

Regular Purchase APR
14.99%-25.99% Variable
Intro Purchase APR
0% for 15 months
Intro BT APR
0% for 15 months
Annual fee
$0
Rewards Rate
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
Balance Transfer Fee
Either $5 or 3% of the amount of each transfer, whichever is greater.
Credit required
good-credit
Excellent/Good

Best 0% intro offers on purchases

Shopping for everyone on your list this holiday season can cost you a lot of money. With the average holiday shopper incurring $1,054 in debt last year, you’ll want to think about taking preventative measures so you don’t fall into debt. You should consider credit cards offering 0% intro periods for new purchases that help you avoid interest charges when you carry a balance during the intro period. There are cards that offer as long as 20 months interest-free.

Here are our top picks for cards with 0% intro periods:

U.S. Bank Visa® Platinum Card

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U.S. Bank Visa® Platinum Card

Regular Purchase APR
11.99% to 23.99% Variable
Intro Purchase APR
0% introductory APR for the first 20 billing cycles
Intro BT APR
0% introductory APR for the first 20 billing cycles for balances transferred within 60 days from account opening
Annual fee
$0
Balance Transfer Fee
Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
Credit required
good-credit
Excellent/Good

TruWest Visa Platinum Card

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on TruWest Credit Union’s secure website

TruWest Visa Platinum Card

Regular Purchase APR
7.95% - 21.95% Variable
Intro Purchase APR
0% introductory APR for 18 months
Intro BT APR
0% introductory APR for 18 months
Annual fee
$0
Balance Transfer Fee
3% of the amount of each balance transfer

Chase Freedom®

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Chase Freedom®

Regular Purchase APR
16.99% - 25.74% Variable
Intro Purchase APR
0% Intro APR on Purchases for 15 months
Intro BT APR
0% Intro APR on Balance Transfers for 15 months
Annual fee
$0
Rewards Rate
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.
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Credit required
good-credit
Excellent/Good

If you chose to use a 0% intro APR card, you should check in on your debt two months before your intro period ends. Check to see if you’re on track to pay off your balance before the intro period ends. If you’re behind schedule and don’t think your debt will be paid off in time, consider a balance transfer credit card. You can transfer debt from your existing card to a new card offering a 0% intro period for balance transfers. This saves you from interest charges compared with leaving your balance on your current card post intro period, and also gives you more time to pay off your debt. Just take note that balances can’t be transferred between cards from the same bank and you will typically incur a balance transfer fee — however this fee is often outweighed by the amount you save on interest — though there are cards with no balance transfer fees.

Here are our top picks for balance transfer credit cards:

Citi Simplicity® Card - No Late Fees Ever

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Citi Simplicity® Card - No Late Fees Ever

Regular Purchase APR
15.99% - 25.99%* (Variable)
Intro Purchase APR
0%* for 12 months on Purchases*
Intro BT APR
0%* for 21 months on Balance Transfers*
Annual fee
$0*
Balance Transfer Fee
5% of each balance transfer; $5 minimum
Credit required
good-credit
Excellent/Good

Citi® Double Cash Card – 18 month BT offer

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Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
15.49% - 25.49%* (Variable)
Intro Purchase APR
N/A
Intro BT APR
0% for 18 months on Balance Transfers*
Annual fee
$0*
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
Balance Transfer Fee
3% of each balance transfer; $5 minimum.
Credit required
good-credit
Excellent, Good

Discover it® Balance Transfer

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Rates & Fees

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Discover it® Balance Transfer

Regular APR
13.99% - 24.99% Variable
Intro Purchase APR
0% for 6 Months
Intro BT APR
0% for 18 Months
Annual fee
$0
Rewards Rate
5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.
Balance Transfer Fee
3%
Credit required
good-credit
Excellent/Good Credit

This article contains links to CompareCards, which like MagnifyMoney, is a subsidiary of LendingTree.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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Credit Cards

Best Credit Card Sign-Up Bonus For November 2018

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

As the credit card market gets increasingly more crowded, issuers are trying to gain customers with enticing sign-up bonuses. Typical sign-up bonuses require you to spend a given amount (usually ranging from $500 – $5,000) within the first few months of account opening (on average the first 3 months) before you can reap your reward. The type of bonus you earn can differ by issuer and come in the form of points, miles, cash back, and statement credit.

In this post, we list the best sign-up bonuses that you can earn from new credit cards, organized by credit cards for personal or business use and by category (travel, airline, cash back, and more).

Personal

Best travel rewards sign-up bonus: Chase Sapphire Preferred® Card

 Chase Sapphire Preferred® Card

The information related to Chase Sapphire Preferred® Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Chase Sapphire Preferred® Card

Regular Purchase APR
17.99% - 24.99% Variable
Annual fee
$0 Intro for the First Year, then $95
Rewards Rate
2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases

The bonus offer: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $625 toward travel when you redeem through Chase Ultimate Rewards®.What the points are really worth: 1 point is worth $.01, and when you redeem for travel via Chase Ultimate Rewards, 1 point is worth $.0125.

Other reasons to like this card:

  • 25% more in redemption: When you redeem points for travel with Chase Ultimate Rewards® your points get 25% more value. For example, 50,000 points are worth $625 toward travel.
  • 1:1 point transfer: Points can be transferred at a 1:1 rate to participating frequent travel programs currently including: Aer Lingus AerClub, British Airways Executive Club, Flying Blue AIR FRANCE KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines, Southwest Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Rewards, The Ritz-Carlton Rewards and World of Hyatt.

Bottom Line: The Chase Sapphire Preferred® Card is a good fit for people who frequently travel and would like an increased redemption value for their points with the 25% more value you receive when redeeming for travel with Chase Ultimate Rewards.

Best hotel credit card sign-up bonus: Marriott Rewards® Premier Plus Credit Card

Marriott Rewards® Premier Plus Credit Card

The information related to Marriott Rewards® Premier Plus Credit Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Marriott Rewards® Premier Plus Credit Card

Regular Purchase APR
17.99% - 24.99% Variable
Annual fee
$95
Rewards Rate
Earn 6X points for every $1 spent at over 6,500 participating Marriott Rewards and SPG hotels and 2X points everywhere else.

The bonus offer: Earn 75,000 Points after spending $3,000 on purchases in your first 3 months from account opening with the new Marriott Rewards® Premier Plus Credit Card!What the points are really worth: The value of Marriott rewards points vary by redemption method, and there is no set monetary value.

Other reasons to like this card:

  • Free Night Award: Benefit from a Free Night Award each year after your account anniversary — valid for a one night hotel stay at a property with a redemption level up to 35,000 points. Other terms apply.
  • Elite status: Coming in 2019, receive 15 Elite Night Credits each calendar year. Restrictions apply.
  • Flexible redemption options: Redeem points for hotel stays, room upgrades, experiences, car rentals, TSA Precheck, gift cards, and more.

Bottom Line: The Marriott Rewards® Premier Plus Credit Card is ideal for people who stay at participating Marriott Rewards and SPG hotels, as the rewards program is structured around those purchases and you can receive a free night stay each account anniversary.

Best airline credit card sign-up bonus: Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®

Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®

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Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®

Regular Purchase APR
17.99% - 25.99%* (Variable)
Annual fee
$99, waived for first 12 months*
Rewards Rate
Earn 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases*
The bonus offer: Earn 50,000 American Airlines AAdvantage® bonus miles after making $2,500 in purchases within the first 3 months of account opening*.What the points are really worth: The value of AAdvantage® miles vary by redemption method, and there is no set monetary value.

Other reasons to like this card:

  • 10% miles back: You can earn 10% of your redeemed AAdvantage® miles back, with a maximum of 10,000 AAdvantage® bonus miles per calendar year*.
  • Preferred boarding: You can board the plane faster when flying with American Airlines*.
  • First checked bag free: On domestic American Airlines flights, your first checked bag is free for you and up to four companions.
  • 25% inflight savings: Receive a 25% savings on eligible inflight food and beverage purchases when you use your card on American Airlines flights*.

Bottom Line: The Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard® is a great choice for American Airlines flyers who want to enjoy extra perks on their flights such as preferred boarding and inflight savings.

Best cash back sign-up bonus: Discover it® Cash Back

Discover it® Cash Back

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on Discover Bank’s secure website

Rates & Fees

Discover it® Cash Back

Regular APR
13.99% - 24.99% Variable
Annual fee
$0
Rewards Rate
5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.
The intro offer: Discover will match ALL the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched.Other reasons to like this card:

  • Conveniently redeem cash back: Your cash back can be redeemed at any time and for any amount. This is great since other cards often impose a $20-$25 minimum redemption amount.
  • No late fee on your first late payment: Discover will give you a pass on your first late payment, a good reminder to set up autopay or calendar alerts.

Bottom Line: The Discover it® Cash Back is a great option for people looking to earn additional cash back with the Cashback Match™ feature — all without a minimum spending requirement.

Best luxury card sign-up bonus: Chase Sapphire Reserve®

Chase Sapphire Reserve®

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The information related to Chase Sapphire Reserve® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Chase Sapphire Reserve®

Regular Purchase APR
17.99% - 24.99% Variable
Annual fee
$450
Rewards Rate
3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.

The bonus offer: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.What the points are really worth: 1 point is worth $.01, and when you redeem for travel via Chase Ultimate Rewards®, 1 point is worth $.0150.

Other reasons to like this card:

  • 50% more in redemption: Points redeemed for travel with Chase Ultimate Rewards earn 50% more in redemption value. For example, 50,000 points are worth $750 toward travel.
  • 1:1 point transfer: Easily transfer points at a 1:1 rate to participating frequent travel programs currently including: Aer Lingus AerClub, British Airways Executive Club, Flying Blue AIR FRANCE KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines, Southwest Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Rewards, The Ritz-Carlton Rewards and World of Hyatt.
  • Airport lounge access: You can access over 1,000 airport lounges worldwide with a complimentary, one-time enrollment in Priority Pass™ Select.

Bottom Line: The Chase Sapphire Reserve® offers a fantastic sign-up bonus that can benefit from the 50% more value points earn when redeemed for travel with Chase Ultimate Rewards — great for travelers looking to maximize their points.

Best student credit card sign-up bonus: Citi ThankYou® Preferred Card for College Students

Citi ThankYou® Preferred Card for College Students

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on Citibank’s secure website

Citi ThankYou® Preferred Card for College Students

Regular Purchase APR
16.49% - 26.49%* (Variable)
Annual fee
$0*
Rewards Rate
Earn 2X Points on Dining Out & Entertainment and Earn 1X Points on All Other Purchases
The bonus offer: Earn 2,500 bonus points after spending $500 in purchases within the first 3 months of account opening.What the points are really worth when redeemed for…

  • Travel with Citi’s travel portal: 1 point is worth $.01
  • Gift cards: 1 point is worth $.01
  • For purchases / statement credit: 1 point is worth $.0075
  • Shop with points, merchandise: 1 point is worth less than $.01
  • Cash back: 1 point is worth $.0005

Other reasons to like this card:

  • 0% Intro period: There is an intro 0% for 7 months on Purchases* on purchases which is a decent intro period for a student card. After the intro period, standard APR is 16.49% - 26.49%* (Variable).
  • Citi® Price Rewind: When you register an item you paid for with your card, Citi will search for a lower price. If a lower price is found within 60 days, you may receive the difference between the price you paid and the lower price up to $200 per item and up to $1,000 per year.

Bottom Line: The Citi ThankYou® Preferred Card for College Students is a good card for students looking to maximize points on dining and entertainment purchases, while also potentially benefiting from money saving features like Citi® Price Rewind.

Business

Best cash back sign-up bonus for businesses: Ink Business Cash℠ Credit Card

Ink Business Cash℠ Credit Card

The information related to Ink Business Cash℠ Credit Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Ink Business Cash℠ Credit Card

Regular Purchase APR
15.24% - 21.24% Variable
Annual fee
$0
Rewards Rate
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

The bonus offer: Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.Other reasons to like this card:

  • 0% Intro period: This card offers an intro 0% for 12 Months on purchases allowing your business time to pay off any large purchases made during this period. There is also0% for 12 Months on balance transfers. After the intro period ends, a 15.24% - 21.24% Variable APR applies.
  • Higher rewards rate for select business purchases: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn..

Bottom Line: The Ink Business Cash℠ Credit Card is great for businesses that want a flexible cash back card that allows them to choose select business categories to earn the higher cash back rate.

 

Best travel points sign-up bonus for businesses: Ink Business Preferred℠ Credit Card

Ink Business Preferred℠ Credit Card

The information related to Ink Business Preferred℠ Credit Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Ink Business Preferred℠ Credit Card

Regular Purchase APR
17.99% - 22.99% Variable
Annual fee
$95
Rewards Rate
Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.

The bonus offer: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account openingWhat the points are really worth: 1 point is worth $.01, and when you redeem for travel via Chase Ultimate Rewards®, 1 point is worth $.0125.

Other reasons to like this card:

  • 25% more in redemption: When you redeem points for travel with Chase Ultimate Rewards®, they are worth 25% more. For example, 80,000 points are worth $1,000 towards travel.
  • 1:1 point transfer: If you’re a part of participating frequent travel programs, you can transfer points at a 1:1 rate. Partners currently include: Aer Lingus AerClub, British Airways Executive Club, Flying Blue AIR FRANCE KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines, Southwest Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Rewards, The Ritz-Carlton Rewards and World of Hyatt.
  • Higher rewards rate for select business purchases: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn. This is a great way for you to earn points on purchases your business spends a lot in.

Bottom Line: The Ink Business Preferred℠ Credit Card is a great card for businesses that travel since you can earn 25% more value in point redemptions with Chase Ultimate Rewards. Also, if your business wants to choose which categories they want to earn the higher rewards rate in, this card has several options with something for all businesses.

Learn More

How to maximize your sign-up bonus

Below we list some helpful tips for you to select the best sign-up bonus for your spending and how to make sure you actually earn the bonus. Here’s what you need to know:

  • Understand how the minimum spend requirement and time period works. Nearly all sign-up bonuses require a minimum spend for you to earn the bonus. For example, a card may require you to spend $1,000 on purchases in the first 3 months of account opening to earn 5,000 bonus points. If you open your card January 1, then you have until March 30 to spend $1,000. Each sign-up bonus differs, so make sure to check the terms and conditions.
  • What qualifies as spending on purchases? Sign-up bonuses have clear terms that require you to spend a certain amount, that means certain transactions don’t count for the spending requirement. Transactions that aren’t often eligible often include: balance transfers, cash advances, travelers checks, foreign currency, money orders, wire transfers, interest, and fees of any kind.
  • Make a large purchase upfront to secure the bonus. If you plan on making a large purchase like a laptop or television, try and make it as soon as possible so you can meet the required spending for the bonus. But only do this if it’s feasible to pay it off soon after. If you make a large purchase upfront and are unable to pay it off before your statement is due, you will be stuck paying interest — unless your card has a 0% intro APR period. Still, you don’t want to fall into debt just to get the sign-up bonus.
  • Check other terms and conditions. A good rule of thumb is to look at the terms and conditions before you apply for any card. This allows you to see if the points / cash back expire or are only redeemable in certain ways. Reviewing the T&C can prevent you from missing out on your sign-up bonus.
  • Don’t be too greedy. To thwart people from nabbing sign-up bonuses and closing cards repeatedly, issuers may have rules that prevent customers from signing up for several cards from the same issuer over the course of a specific time period.
  • Take note: offers are time sensitive. Sign-up bonuses can change at any time, meaning an offer you click on may not be there later if you refresh or close the window.

How we picked the best sign-up bonus offers

The way we formulated this list was by looking at cards from all major issuers as well as some credit unions. From there we divided cards into two categories — travel points and cash back. When comparing cards in the travel category, we made sure to compare points worth, spending requirements, and rewards bonuses for redeeming via the issuer’s portal. For cash back cards, we simply looked at the size of the bonus and spending requirements. If there were cards with similar sign-up bonuses, we considered other features such as 0% intro period, APR and annual fees.

Let’s take an example, where 2 rewards cards both require you to spend $3,000 in the first 3 months of card membership:

  • Card A earn you 50,000 points
  • Card B earns you 60,000 points

Now someone may only look at the sign-up bonus for the Card B offer and think, “Wow, I earn 10,000 more points compared to Card A, I want Card B.”

But a closer look at the terms and conditions reveal that the points’ value differs for each card:

  • Card A’s points are worth $.0125 each when redeemed through the issuer’s portal
  • Card B’s points are worth $.01 each

Here’s the monetary value of the sign-up bonus for each card:

  • Card A: $625
  • Card B: $600

So the sign-up bonus that would be better is Card A, when considering points worth and redemption methods. Therefore, it’s always important to look at various aspects of a card, not solely the sign-up bonus.

Now let’s look at a cash back example:

  • Card A requires you to spend $1,000 within the first 3 months of card opening to earn $150 cash back
  • Card B requires you to spend $500 within the first 3 months of card opening to earn $150 cash back
  • Card C matches your cash back at the end of 12 months, and doesn’t require a minimum spending amount

It’s pretty clear that Card A is the worst value. Card B is better since you have to spend half the amount to earn the same sign-up bonus as Card A. However, if you spend over $15,000 in the first 12 months of card opening, Card C is the best option with unlimited cash back matching and no required spend.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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Building Credit

Build Your Credit Score: 6 Secured Cards With No Annual Fees – November 2018

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Secured cards are a great way to build or improve credit. When you open a secured card, you submit a security deposit that typically becomes your credit limit. This deposit acts as collateral if you default on your account, but you can get it back if you close your account after paying off your balance. As long as you use a secured card responsibly — for example, make on-time payments and use little of your available credit — you may see improvements in your credit score. Unfortunately, in addition to the upfront deposit, this credit-building tool can have extra costs, like an annual fee.

You can avoid that expense with one of these six no annual fee secured cards, which have a variety of uses:

Cards to consider

Rewards

Discover it® Secured

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on Discover Bank’s secure website

Rates & Fees

Discover it® Secured

Annual fee
$0
Minimum Deposit
$200
Regular APR
24.99% Variable

The Discover it® Secured is a standout secured card that provides cardholders the opportunity to earn cash back while building credit. A cashback program is hard to find with secured cards, and the Discover it® Secured offers 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases. In addition, there is a new cardmember offer where Discover will match ALL the cash back earned at the end of your first year, automatically. This is a great way to get a lot of rewards without needing to do any extra work.In addition to a cashback program, this card provides valuable credit resources such as free access to your FICO® Score and a Credit Resource Center — just note these services are available whether you’re a cardholder or not. Discover also takes the guesswork out of wondering when you’re ready for an unsecured card (aka a regular credit card) by performing automatic monthly account reviews, starting at eight months of card membership.

What to look out for: There is a high 24.99% Variable APR for this card, so you could end up paying a lot more than purchase prices if you carry a balance. Try not to overspend and make it a goal to pay each statement in full so you avoid interest charges.

Low deposit

Capital One® Secured Mastercard®

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on Capital One’s secure website

Capital One® Secured Mastercard®

Annual fee
$0
Minimum Deposit
$49, $99, or $200
Regular Purchase APR
24.99% (Variable)

The Capital One® Secured Mastercard® offers qualifying cardholders a lower security deposit compared to other secured cards. You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness. Typical secured cards require you to deposit an amount equal to your credit limit, so this card has added perks for people who qualify for the lower deposits.You can also receive a credit limit increase without making an additional deposit after making your first five monthly payments on time. This is beneficial for people who need a higher credit limit and don’t want to (or can’t) tie up their money in a deposit. Also, this card comes with a credit resource center — which is available to everyone — and Platinum Mastercard® benefits that include travel accident insurance and price protection.

What to look out for: The $49 and $99 security deposits are not guaranteed and depend on your creditworthiness — that means you may still have to deposit $200. Also, it’s not a good idea A carry a balance on this card because it has one of the highest APRs at 24.99% (Variable).

Average deposit

Citi® Secured MasterCard®

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on Citibank’s secure website

Citi® Secured MasterCard®

Annual fee
$0
Minimum Deposit
$200
Regular Purchase APR
24.49%* (Variable)

The Citi® Secured Mastercard® requires a $200 security deposit, which is typical of secured cards and a good amount to establish your credit line. You can deposit more money if you want to receive a higher credit line, but if you don’t have a lot of money available to deposit, coming up with $200 is manageable. This card doesn’t have any additional card benefits like rewards or insurances, but you can access Citi’s Credit Knowledge Center for financial management tips.

Low APR

Visa® Secured Card from MidSouth Community FCU

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on MidSouth Community FCU’s secure website

Visa® Secured Card from MidSouth Community FCU

Annual fee
$0
Minimum Deposit
$200
Regular Purchase APR
10.90% Variable

Because MidSouth Community is a federal credit union, you need to be a member to qualify for this card. Membership is limited to people who work, live, worship, or attend school in the following Middle Georgia counties: Bibb, Baldwin, Crawford, Hancock, Houston, Jones, Monroe, Peach, Pulaski, Putnam, Twiggs, Washington, and Wilkinson. If you qualify, you may be able to get a secured card with an APR as low as 10.90% Variable.

What to look out for: This card is very restricted, therefore few people will be able to qualify for this low APR secured card.

Unrestricted low APR

Affinity Secured Visa® Credit Card

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on Affinity Federal Credit Union’s secure website

Affinity Secured Visa® Credit Card

Annual fee
$0
Minimum Deposit
$250
Regular Purchase APR
12.60% Variable

The Affinity Secured Visa® Credit Card requires cardholders to join the Affinity FCU. You may qualify through participating organizations, but if you don’t, anyone can join the New Jersey Coalition for Financial Education by making a $5 donation when you fill out your online application. This card has an 12.60% Variable APR, which is one of the lowest rates available for a no annual fee secured card and is nearly half the amount major issuers charge. This is a good rate if you may carry a balance — but try to pay each statement in full.

What to look out for: There may be a membership fee associated with this card if you don’t qualify through participating organizations. The fee you may have to pay is low at $5, but it may be an issue for people who don’t want to pay anything to open a secured card.

Unrestricted federal credit union

Savings Secured Visa Platinum Card from State Department Federal

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on State Department Federal Credit Union’s secure website

Savings Secured Visa Platinum Card from State Department Federal

Annual fee
$0
Minimum Deposit
$250
Regular Purchase APR
13.99% Variable

The Savings Secured Visa Platinum Card from State Department Federal is open to anyone, regardless of residence. If you aren’t eligible through select methods including employees of the U.S. Department of State or members of select organizations, you can join the American Consumer Council during the application process. There is no fee associated with joining since State Department FCU pays the $5 on your behalf. There is a rewards program with this card where you earn Flexpoints, which can be redeemed for a variety of options like gift cards and travel. The APR can be as low as 13.99% Variable, which is reasonable considering many secured cards from major issuers are above 23%.

What to look out for: If you decide to take out this card and become a member of the SDFCU by joining the American Consumer Council, make sure you do not go to the ACC’s website and submit a $5 donation. That fee is waived by the SDFCU when you fill out your credit application. Simply select “I do not qualify to join through any of these other methods:” and select the ACC from the menu to avoid the $5 fee.

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Best of, Earning Cashback

7 Best Cash Back Credit Cards for Dining Out in November 2018

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

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If you’re someone who frequently dines out, cash back credit cards that reward you for it are a great way to put money back in your pocket. Cash back cards for dining can earn you rewards for purchases made through restaurants, bars and takeout establishments. This is a great way for foodies to reap extra rewards just by doing what they love — eating!

We picked the following cards because they offer competitive cash back rates above 2% for dining-related purchases, as well as have low or no annual fees. As with most rewards credit cards, you may lose your cash back rewards if your account is not in good standing.

Capital One® Savor® Cash Rewards Credit Card – 4% cash back

Capital One® Savor® Cash Rewards Credit Card

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on Capital One’s secure website

Capital One® Savor® Cash Rewards Credit Card

Regular Purchase APR
16.24% - 25.24% (Variable)
Annual fee
$0 intro for first year; $95 after that
Rewards Rate
4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases

The Capital One® Savor® Cash Rewards Credit Card enables you to earn unlimited 4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases. Earn a one-time $500 cash bonus after you spend $3000 on purchases within the first 3 months from account opening. (The card website specifies that the one-time bonus is available by applying through the site, and may not be available if an applicant navigates away from the page. Also, the bonus may not be available for existing or previous accountholders.)

Uber Visa Card – 4% cash back

Uber Visa Card

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The information related to Uber Visa Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Uber Visa Card

Regular Purchase APR
16.99% - 25.99% Variable
Annual fee
$0
Rewards Rate
4% back on dining, 3% back on hotel and airfare, 2% back for online purchases, and 1% on everything else.

The Uber Visa Card offers unlimited 4% back on dining purchases that will benefit the biggest foodies. Additionally, earn 3% back on hotels and airfare, including vacation home rentals; 2% back on online purchases that include Uber, online shopping and video and music streaming services; and 1% back on all other purchases. Dining purchases include those made at restaurants, fast-food restaurants, bars and UberEATS. Your rewards come in the form of points with a value of $0.01 per point (so 2,500 points can be redeemed for a $25 statement credit, for example). Another cool perk: There is a great sign-up bonus: Earn $100 after spending $500 on purchases in the first 90 days. You can read our full review here.

AARP® Credit Card from Chase Bank – 3% cash back

AARP® Credit Card from Chase Bank

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The information related to AARP® Credit Card from Chase Bank has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

AARP® Credit Card from Chase Bank

Regular Purchase APR
18.24% - 24.99% Variable
Annual fee
$0
Rewards Rate
Earn 3% Cash Back rewards on purchases at restaurants, from fine dining to fast food, 3% Cash Back rewards on purchases at gas stations, and 1% Cash Back rewards on all other purchases.

Don’t be led astray by the name: This card isn’t limited to people over 50 — anyone can apply. The AARP® Credit Card from Chase Bank lets you Earn 3% Cash Back rewards on purchases at restaurants, from fine dining to fast food, 3% Cash Back rewards on purchases at gas stations, and 1% Cash Back rewards on all other purchases. Earn $100 bonus cash back after you spend $500 on purchases in the first 3 months from account opening.

Marvel Mastercard® – 3% cash back

Marvel Mastercard®

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on Synchrony Bank’s secure website

Marvel Mastercard®

Regular Purchase APR
16.74%-26.74% Variable
Annual fee
$0
Rewards Rate
Earn 3% cashback on Dining, Select Entertainment, Online at Marvel.com and Marvel's Official Merchandise Booths, and 1% cashback on all other Mastercard purchases.

The Marvel Mastercard® is a great choice for Marvel fans who want to benefit from exclusive Marvel discounts, with the added benefit of earning a high cash back rate on dining purchases. You Earn 3% cashback on Dining, Select Entertainment, Online at Marvel.com and Marvel's Official Merchandise Booths, and 1% cashback on all other Mastercard purchases. Some of the Marvel related perks you earn include 10% off merchandise purchases at MarvelShop.com, free shipping offers and special discounts on Marvel Unlimited or Marvel digital comics. Terms apply.

There is also a new cardmember bonus of a $25 statement credit after your first purchase with your new Marvel Mastercard.

Sams Club® Mastercard® – 3% cash back

Sams Club® Mastercard®

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on Sam's Club’s secure website

Sams Club® Mastercard®

Regular Purchase APR
16.65% or 24.65% Variable
Annual fee
$0
Rewards Rate
$5,000 cash back per calendar year and offers 5% cash back on gas (on first $6,000 per year in purchases, then 1%), 3% on dining and travel, and 1% on other purchases.

The Sams Club® Mastercard® offers $5,000 cash back per calendar year and offers 5% cash back on gas (on first $6,000 per year in purchases, then 1%), 3% on dining and travel, and 1% on other purchases. From now until Dec. 31, you can receive a $45 statement credit if you open your card online and make a $45 purchase on Samsclub.com on the same day you open your account. However, you do need a Sam’s Club membership to apply, and current membership fees start at $45 per year.

Take note that you’re limited to earning a maximum of $5,000 in cash back rewards in a calendar year. Checks are issued each February for the cash back earned during the previous calendar year. You will lose any cash back you earned if you end your membership or let it lapse, or if you accumulate less than $5 cash back in a calendar year.

Costco Anywhere Visa® Card by Citi – 3% cash back

Costco Anywhere Visa® Card from Citi

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on Citibank’s secure website

Costco Anywhere Visa® Card from Citi

Regular Purchase APR
17.24%* (Variable)
Annual fee
$0
Rewards Rate
4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases

The Costco Anywhere Visa® Card by Citi requires a Costco membership (currently, annual memberships start at $60) and offers 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases. Take note that purchases made at bakeries and certain restaurants/cafes in department stores, groceries or warehouse clubs will only earn 1%.

Cash back comes as an annual credit card reward certificate in February billing statements, redeemable for cash or merchandise at U.S. Costco Warehouses. You must maintain your Costco membership to receive rewards, and you will also lose rewards if you accumulate less than $1 in cash back or if you don’t redeem them by the end of the year.

Alternative: Rotating cash back categories

Discover it® Cash Back – 5% cash back

Discover it® Cash Back

APPLY NOW Secured

on Discover Bank’s secure website

Rates & Fees

Discover it® Cash Back

Regular APR
13.99% - 24.99% Variable
Annual fee
$0
Rewards Rate
5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.

The Discover it® Cash Back offers 5% cash back in different places (on up to $1,500 in purchases each quarter, then 1%) and unlimited 1% on all other purchases, automatically.Restaurants are slated to be a bonus category from July 1 through Sept. 30, 2018. Set a reminder to activate the bonus category. In addition to a cash back program, Discover will match ALL the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched (new cardmembers only).

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 every month. If you’re a credit all-star who also has an affinity for dining out, these cards will provide the best perks.

If you’re apt to carry a balance, check out our picks for the best credit cards that can help you pay down debt faster.

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

promo-cashback-wide

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

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Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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Credit Cards

Best Small Business Credit Cards in November 2018

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication. This site may be compensated through a credit card partnership.

Small business credit cards not only make it easier to separate personal and business finances, they offer business owners advantages they may not need or be able to get with a personal credit card. You might find the number of business credit card options overwhelming, so identifying your priorities will help you choose. Do you want rewards? Or do you merely need a card for short-term financing? The best small business credit card for you will depend entirely on your needs and goals.

Best small business credit cards for financing

0% APR financing

When to consider business cards with intro 0% financing: A business card with an intro 0% APR period can save you hundreds of dollars on interest compared to cards without 0% APR introductory periods. During the intro period, new purchases won’t accrue interest, and you can take your time paying off large purchases such as laptops and desks for your business.

The Blue Business℠ Plus Credit Card from American Express

The information related to The Blue Business℠ Plus Credit Card from American Express has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

The Blue Business℠ Plus Credit Card from American Express

Regular Purchase APR
13.24% - 21.24% Variable
Intro Purchase APR
0% for 15 Months
Annual fee
$0
Rewards Rate
2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
Credit required
good-credit
Excellent/Good

Why we like it: The Blue Business℠ Plus Credit Card from American Express offers small business owners the chance to finance new purchases with the longest intro period for purchases of any business card at intro 0% for 15 Months; 13.24% - 21.24% Variable APR after. Plus, you can earn rewards, receive purchase protection and get extended warranties — all with a $0 annual fee.

What to watch out for: You can lose the intro APR if a penalty APR applies to your account for any reason. To avoid this, always pay your minimum amount due.

Low interest rate

When to consider business cards with low interest rates: If you find your business has to carry a balance from time to time, it can be beneficial to have a low interest credit card that won’t cause you to rack up as much interest as other cards. But as a rule of thumb, try to pay your balance in full every month to avoid interest charges.

Bank of America® Platinum Visa® Business Credit Card

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Bank of America® Platinum Visa® Business Credit Card

Regular Purchase APR
11.24% - 22.24% Variable APR
Annual fee
$0
Rewards Rate
Non-rewards card
Credit required
good-credit
Excellent
Why we like it: The Bank of America® Platinum Visa® Business Credit Card has the lowest APR at 11.24% - 22.24% Variable APR. If you qualify for the lowest rate and end up carrying a balance, you’ll be charged substantially less interest than other cards with high APRs. Although there are no rewards, new accounts can earn an $200 statement credit when you make at least $500 in net purchases within 60 days of your account opening. That’s the lowest spending requirement to get a bonus on a business card.

What to watch out for: You may not qualify for the lowest rate because the APR varies based on your personal or business’ credit worthiness.

Cash flow management

When to consider a business card for cash flow management: Some small businesses may not have a consistent cash flow, and that’s where a card with a flexible payment option comes in handy. You may be allowed to carry a balance interest free until your next statement if you make the minimum payment.

The Plum Card® from American Express

The information related to The Plum Card® from American Express has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

The Plum Card® from American Express

Regular Purchase APR
N/A
Annual fee
$0 introductory annual fee your first year, then $250.
Rewards Rate
Get a 1.5% discount when you pay early, with no cap on what you can earn back.
Credit required
good-credit
Excellent/Good

Why we like it: The Plum Card® from American Express has an uncommon payment option where as long as you pay your minimum due, you can pay your balance in up to 60 days without accruing interest (terms apply). This ‘grace period’ is uncharacteristic of business cards (and all cards in general), providing you with twice as much time as other cards do to pay off your statement without incurring interest charges. There are no rewards, but you can Get a 1.5% discount when you pay early, with no cap on what you can earn back.

What to watch out for: To benefit from the extra-days-to-pay feature, make sure you pay your minimum due, or else you’ll miss out on the offer. Also, make sure this card is the best choice for your business because there’s a $0 introductory annual fee your first year, then $250.

Imperfect credit

When to consider a business card for imperfect credit: If you or your business has less-than-good credit, odds are you’ll not only have trouble qualifying for a credit card, but the terms you do qualify for won’t be ideal. However, you’re not out of luck — we found a card that considers small businesses with imperfect credit, and it has decent terms plus the foundation for you to improve your credit with responsible behavior.

Capital One® Spark® Classic for Business

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Capital One® Spark® Classic for Business

Regular Purchase APR
24.74% (Variable)
Annual fee
$0
Rewards Rate
1% Cash Back on every purchase, every day
Credit required
bad-credit
Average/Fair/Limited

Why we like it: The Capital One® Spark® Classic for Business is for business owners with Average/Fair/Limited credit. Capital One considers Average/Fair/Limited credit as someone who’s defaulted on a loan in the past five years or has limited credit history (holding credit for less than three years). So, if you or your business has less-than-perfect credit, you may have better odds qualifying for this card compared to the majority of business cards, which require good or excellent credit.

What to watch out for: Although this card states it’s for business owners with Average/Fair/Limited credit, that does not guarantee you will be approved. As with any credit application, lenders look at a variety of credit factors.

Available for service members

When to consider business cards for service members: The following business credit cards are provided by credit unions for service members and have added perks, such as low interest rates, rewards, special offers and discounts. These cards require credit union membership, but you can typically qualify depending on where you live or work.

Navy Federal Credit Union Visa® Business Card

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Navy Federal Credit Union Visa® Business Card

Regular Purchase APR
10.15% - 18.00% Variable
Annual fee
$0
Rewards Rate
Rewards up to 1% return on each dollar spent
Credit required
excellent-credit
Good/Excellent
Why we like it: The Navy Federal Credit Union Visa® Business Card has a $0 annual fee and provides an up to 15% discount on qualifying business purchases with Visa SavingsEdge®. You can receive discounts at restaurants, travel and shipping services, IT solutions and more at no additional cost. As a member of NFCU, you can also receive a discount on Geico auto insurance and access an Auto Buying Program where you can save on new and used cars — great if your business requires you and your employees to drive. Terms & limitations apply.

What to watch out for: The interest rate you receive depends on your creditworthiness, so you may not receive the lowest APR. Because membership is restricted, check here to see if you qualify for membership with Navy Federal Credit Union.

Navy Federal Credit Union Mastercard® Business Card

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Navy Federal Credit Union Mastercard® Business Card

Regular Purchase APR
10.15% - 18.00% Variable
Annual fee
$0
Rewards Rate
Rewards up to 1% return on each dollar spent
Credit required
excellent-credit
Excellent
Why we like it: The Navy Federal Credit Union Mastercard® Business Card has the Mastercard Easy Savings® Program, which provides you with an up to 10% discount on a wide range of purchases including car rentals, gas purchases, products and services like Bing Ads and Monster, and more. This can simply save your business money on everyday purchases and the program is free. NFCU members have access to perks that suit businesses that require driving for work, like the ability to save on Geico auto insurance and access to an Auto Buying Program where you can receive savings on new and used vehicles. Terms & limitations apply.

What to watch out for: The APR varies based on your creditworthiness, so you may not qualify for the lowest rate. Because membership is restricted, check here to see if you qualify for membership with Navy Federal Credit Union.

RBFCU Business Select Mastercard® credit card

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RBFCU Business Select Mastercard® credit card

Regular Purchase APR
11.65% - 18.00% Variable
Annual fee
$0
Rewards Rate
2% cash back on all purchases
Credit required
good-credit
Excellent/Good
Why we like it: The RBFCU Business Select Mastercard® credit card has a great cashback program with unlimited 2% cash back on every purchase. This flat rate is rare among business cards that tend to favor high rates only on select purchase categories. In addition to a cashback program, members of RBFCU can benefit from members-only pricing at select merchants like TurboTax® and Sprint® to save your business additional money. Terms apply.

What to watch out for: Not everyone will qualify for membership with RBFCU, so fill out this online form to check.

Best small business rewards credit cards

Travel perks

When to consider travel business cards: If you or your employees travel often, a travel card can be more valuable than typical credit cards because many offer travel insurance, airline fee credits, free Wi-Fi access and other travel-related perks.

The Business Platinum® Card from American Express

The information related to The Business Platinum® Card from American Express has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

The Business Platinum® Card from American Express

Regular Purchase APR
N/A
Annual fee
$450
Rewards Rate
5X Membership Rewards® points on flights and prepaid hotels on amextravel.com and 1.5 Membership Rewards® points per dollar on each eligible purchase of $5,000 or more.
Credit required
good-credit
Excellent/Good
Welcome Offer: Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000. Earn 50,000 Membership Rewards® points after you spend $10,000 & an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first 3 months of Card Membership. Offer ends 8/8/18.

Why we like it: We looked at business cards that offered travel perks, and The Business Platinum® Card from American Express emerged as the best overall business travel card because of its extensive benefits for business owners, including rewards potential, Welcome Offer, and added perks. You can take advantage of standout perks like access to over 1,000 airport lounges, credit for Global Entry or TSA Precheck and a $200 airline fee credit. Terms apply. These benefits can save your business a substantial amount of money and make travel less of a hassle.

What to watch out for: There is a steep $450 annual fee for this card. However, considering the value you receive with this card, the annual fee may be worth it. For example, the airline fee credit and Global Entry fee credit are valued at $300, decreasing the effective annual fee for this card.

Ink Business Preferred℠ Credit Card

The information related to Ink Business Preferred℠ Credit Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Ink Business Preferred℠ Credit Card

Regular Purchase APR
17.99% - 22.99% Variable
Annual fee
$95
Rewards Rate
Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
Credit required
excellent-credit

Excellent


Why we like it: The Ink Business Preferred℠ Credit Card allows you to increase the value of your points by 25% when you redeem for travel through Chase Ultimate Rewards®. This is a great way to increase the effective value of your points. Additional travel benefits include trip cancellation/trip interruption insurance and travel and emergency assistance services.

What to watch out for: The higher rewards rate only applies to select categories, so if you primarily spend outside the select categories, you’ll earn a subpar cashback rate. Consider other travel business cards that suit your spending more.

Capital One® Spark® Miles for Business

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Capital One® Spark® Miles for Business

Regular Purchase APR
18.74% (Variable)
Annual fee
$0 intro for first year; $95 after that
Rewards Rate
2 Miles per $1 on every purchase, every day
Credit required
good-credit
Excellent/Good

Why we like it: The Capital One® Spark® Miles for Business offers a hard-to-find flat-rate rewards program at 2 Miles per $1 on every purchase, every day. This rate allows you and your employees to earn the same amount of miles on any purchase with no bonus categories or caps. You can easily redeem miles for travel, and there is no minimum redemption amount.

What to watch out for: This card comes with an annual fee at $0 intro for first year; $95 after that, and although it’s lower than most travel business cards, it may not be ideal for everyone. Keep in mind you will need to spend $4,750 a year (after year one) to recoup the fee.

Big intro bonuses

When to consider business cards with big intro bonuses: A large intro bonus can be a simple way for business owners to earn extra rewards within the first few months of account opening — as long as you fulfill the requirements. You can use the rewards you earn in a variety of ways, from travel to statement credits that can lower your business’ expenses. Many cards that have big intro bonuses also have good rewards and perks, providing long-term value in addition to the short-term reward.

Ink Business Preferred℠ Credit Card

The information related to Ink Business Preferred℠ Credit Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Ink Business Preferred℠ Credit Card

Regular Purchase APR
17.99% - 22.99% Variable
Annual fee
$95
Rewards Rate
Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
Credit required
excellent-credit

Excellent

Intro bonus: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

What to watch out for: There are requirements that you need to follow in order to receive the intro bonus, so make sure you spend the required amount in the stated time period. Also, you miss out on added value by redeeming points outside of Chase Ultimate Rewards, so try to use the portal to receive the 25% more value on travel.

The Business Platinum® Card from American Express

The information related to The Business Platinum® Card from American Express has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

The Business Platinum® Card from American Express

Regular Purchase APR
N/A
Annual fee
$450
Rewards Rate
5X Membership Rewards® points on flights and prepaid hotels on amextravel.com and 1.5 Membership Rewards® points per dollar on each eligible purchase of $5,000 or more.
Credit required
good-credit
Excellent/Good
Welcome Offer: Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000. Earn 50,000 Membership Rewards® points after you spend $10,000 & an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first 3 months of Card Membership. Offer ends 8/8/18.

What to watch out for: You need to satisfy two spending requirements to earn the full Welcome Offer — Earn 50,000 Membership Rewards® points after you spend $10,000 & an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first 3 months of Card Membership. Offer ends 8/8/18.

CitiBusiness®/ AAdvantage® Platinum Select® World Mastercard®

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CitiBusiness®/ AAdvantage® Platinum Select® World Mastercard®

Regular Purchase APR
17.74% - 25.74%* (Variable)
Annual fee
$99, waived for first 12 months*
Rewards Rate
2 AAdvantage® miles per $1 spent on eligible American Airlines purchases* and for every $1 spent on purchases at telecommunications, car rental merchants and at gas stations*, 1 AAdvantage® mile per $1 spent on other purchases*
Credit required
good-credit
Excellent/Good

Sign-up Bonus: Earn 70,000 American Airlines AAdvantage® bonus miles after making $4,000 in purchases within the first 4 months of account opening*.

Why we like it: The CitiBusiness®/ AAdvantage® Platinum Select® World Mastercard® is one of few airline-specific business cards. This card has the largest limited-time offer compared to competitors and a typical spending requirement. In addition, there are great perks when you fly on American Airlines, such as in-flight discounts, first checked bag free and preferred boarding.

What to watch out for: This is an airline-specific card — if you don’t fly with American Airlines, you’ll miss out on some of the best perks.

Cashback rewards

When to consider cashback business cards: Cash back is a simple and straightforward way for your business to be rewarded for purchases. You can easily redeem your cash back as a statement credit, which is a great way to reduce your bill (just remember that redemptions can’t be applied to minimum payments).

Capital One® Spark® Cash for Business

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Capital One® Spark® Cash for Business

Regular Purchase APR
18.74% (Variable)
Annual fee
$0 intro for first year; $95 after that
Rewards Rate
2% Cash Back on every purchase, every day
Credit required
good-credit
Excellent/Good

Why we like it: We looked at business credit cards offering cashback rewards and analyzed their rewards rates, fees and APRs, and among the group, The Capital One® Spark® Cash for Business rose to the top. It has a standout cashback program earning you 2% Cash Back on every purchase, every day. There are no bonus categories or caps — you’ll earn the same rate on every purchase. You can even make redeeming your rewards simple by setting up automatic redemption, great for businesses that don’t want to fuss with rewards.

What to watch out for: The annual fee is $0 intro for first year; $95 after that — so after year one, you will need to spend $4,750 a year to break even.

Capital One® Spark® Cash Select for Business

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Capital One® Spark® Cash Select for Business

Regular Purchase APR
14.74% - 22.74% (Variable)
Annual fee
$0
Rewards Rate
1.5% Cash Back on every purchase, every day
Credit required
good-credit
Excellent/Good

Why we like it: The Capital One® Spark® Cash Select for Business has a decent rewards rate for business owners who want to avoid an annual fee at 1.5% Cash Back on every purchase, every day. This card is a good alternative to the Capital One® Spark® Cash for Business, offering all the same perks plus a $0 annual fee.

What to watch out for: The cash back rate is below the ideal 2%, and you can do better with a higher flat-rate card or with bonus category cards. But be aware they may have an annual fee.

Hotel rewards

When to consider business cards with hotel rewards: Traveling for business can get costly, but hotel rewards cards can help you save money on hotel stays and other expenses you may incur like meals. Whether you favor a specific hotel or often choose the best priced hotel, there are business cards for you that can earn you rewards and other money-saving discounts. Because hotel loyalty varies, we’re highlighting two cards with exceptional hotel rewards.

Starwood Preferred Guest® Business Credit Card from American Express

The information related to Starwood Preferred Guest® Business Credit Card from American Express has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Starwood Preferred Guest® Business Credit Card from American Express

Regular Purchase APR
17.74% - 26.74% Variable
Annual fee
$0 introductory annual fee for the first year, then $95
Rewards Rate
6 points for each dollar of eligible purchases at over 6,500 participating SPG® and Marriott Rewards® hotels across 110 countries worldwide.
Credit required
good-credit
Excellent/Good

Why we like it: The Starwood Preferred Guest® Business Credit Card From American Express is our top pick for businesses looking to earn rewards and perks on hotel stays. SPG® has numerous participating hotels where you and your employees can stay, and there are flexible redemption options for your points. For example, you have the ability to transfer points on a mostly one-to-one basis to over 30 airline frequent flyer programs. Additional benefits include credits towards SPG elite status, travel accident insurance and free Wi-Fi with Boingo and at SPG participating hotels (terms apply).

What to watch out for: The rate you earn on purchases outside of SPG and Marriott Rewards® hotels is lower than other hotel rewards cards, like the Hilton Honors American Express Business Card mentioned below. So, if you’re looking to earn a high rate on all purchases, check out other hotel rewards cards.

The Hilton Honors American Express Business Card

The information related to The Hilton Honors American Express Business Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

The Hilton Honors American Express Business Card

Regular Purchase APR
17.74% - 26.74% Variable
Annual fee
$95
Rewards Rate
12X at hotels and resorts in the Hilton portfolio, 6X on Select Business & Travel Purchases, 3X Everywhere Else. Terms & Limitations Apply.
Credit required
good-credit
Excellent/Good

Why we like it: The Hilton Honors American Express Business Card offers great benefits for business travelers who frequent hotels in the Hilton portfolio with a wide range of perks including complimentary Hilton Honors Gold Status. This gives you a 25% bonus on Base Points, space-available room upgrades and more benefits that may make your stays more comfortable. Other Hilton perks include a rewards program that allows you to earn Hilton Honors Bonus Points at a fast rate and Weekend Night Rewards (terms apply). In addition, you receive baggage and travel accident insurance, 10 free visits to over 1,000 Priority Pass airport lounges every year and the ability to connect your credit card transactions to Quickbooks®, among other things.

What to watch out for: You don’t want to carry a balance with this card because there is a 17.24% – 26.24% variable APR. Although this is a typical range, it’s still high and can lead to large interest charges if you don’t pay your bill in full. But, if you pay in full and on time, this won’t be an issue.

Best category bonuses

When to consider business cards with category bonuses: If you spent a lot in particular categories, credit cards with category bonuses may be a great way for you to earn rewards for that spending. For example, if you drive a lot for business, a card with gas rewards may be ideal. Below we list the business cards that offer the highest reward rates on dining, gas and office-supply spending

Dining & gas

Sam's Club® Business Mastercard®

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Sam's Club® Business Mastercard®

Regular Purchase APR
16.15% - 24.15% Variable
Annual fee
$0
Rewards Rate
5% cash back on gas (on first $6,000 per year in purchases, then 1%), 3% cash back on dining and travel, and 1% cash back on other purchases.
Credit required
good-credit
Good
Why we like it: The Sam’s Club® Business Mastercard® offers a high 5% cash back on gas (on the first $6,000 per year in purchases, then 1%), 3% cash back on dining and travel, and 1% cash back on other purchases. This rate is ideal for businesses that primarily spend on gas because you earn the highest rate on those purchases compared to other cards. Business owners who often take out clients for meals may want to consider this card because of its cashback rate on dining purchases.

What to watch out for: You need to be a member of Sam’s Club to open this card, and as a business owner you may not have a need for a Sam’s Club membership. However, membership starts as low as $45 a year, and considering there’s no annual fee for this credit card, that’s a small amount.

Costco Anywhere Visa® Business Card from Citi

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Costco Anywhere Visa® Business Card from Citi

Regular Purchase APR
17.24% Variable
Annual fee
$0
Rewards Rate
4% cash back on gas, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases
Credit required
excellent-credit
Excellent
Why we like it: The Costco Anywhere Visa® Business Card by Citi offers a tiered cashback program with 4% on eligible gas worldwide, including Costco (for the first $7,000 per year and then 1%), 3% on restaurant and eligible travel worldwide, 2% on all other purchases at Costco and Costco.com and 1% on everything else. This is a good rewards program for business owners with Costco memberships if you want to earn cash back in a wide range of categories.

What to watch out for: You need to be a Costco member to open this card, and membership starts at $60 per year. This is higher than Sam’s Club and definitely something to consider if you’re deciding between the two cards. Another important note is that you won’t earn as much cash back with this card as you would with the Sam’s Club® Business Mastercard®.

Gas & office supply stores

Bank of America® Business Advantage Cash Rewards Mastercard®  credit card

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Bank of America® Business Advantage Cash Rewards Mastercard® credit card

Regular Purchase APR
13.24% - 23.24% Variable APR
Annual fee
$0
Rewards Rate
3% cash back on purchases at gas stations and office supply stores (up to $250,000 each calendar year, 1% after that), 2% cash back on purchases at restaurants, 1% cash back on all other purchases
Credit required
good-credit
Excellent

Why we like it: The Bank of America® Business Advantage Cash Rewards Mastercard® credit card doesn’t require membership with a warehouse club like other gas cards and has a $0 annual fee. Business owners can earn a decent cash back rate at both gas stations and office supply stores, making this card ideal if you often spend in these categories.

What to watch out for: The gas cashback rate is lower than other business cards with gas as a category bonus and won’t earn you as much rewards.

Risks of using small business credit cards

While small business credit cards can provide a wide range of benefits for your company, they have drawbacks.

Here are some of the major risks:

Personal liability. As a business owner, you are solely responsible for all charges made on your account. That means if there are any unpaid balances on your account, whether from your spending or employee spending, you are liable.

Negative impact on you credit. If your account is in poor standing as a result of late payments, overdue balances, bankruptcy or other issues, the credit card issuer may report this information to the credit bureaus. As a result, your personal credit score may take a hit.

Not protected by the CARD Act. Business cards don’t receive the same consumer protections that personal credit cards receive with the CARD Act. The CARD Act requires credit card issuers to provide transparent terms as well as lower fees and interest rates for consumers. But, issuers of business cards don’t have to comply with those requirements. Therefore, a business card may have higher interest rates, more fees and confusing terms.

How to minimize the risks of business credit cards

Monitor employee spending. The ability to open employee cards is a great feature, but if you don’t stay on top of their charges, it can become risky. Some good practices include keeping records of all employees with card access, setting employee spending limits when available and monitoring your credit card statements. This way you can keep track of all spending made on your account and add limits when needed.

Avoid charging personal expenses. Use your business card the way it is intended to be used — exclusively for business purchases. Charging personal expenses makes managing your finances harder and complicates the use of your card.

Do not take out a cash advance. Cash advances are one of the most costly features of credit cards and are rarely a good choice because you’ll be hit with higher than normal interest rates and can rack up debt fast. As an alternative, check out small business loans.

Look at loans for long-term financing. Your business may need to borrow money for purchases like cars or other big-ticket items, and small business loans can be a great way to finance those purchases. Often with straightforward terms, loans can be a good alternative to charging purchases on your credit card. Compare small business loans here.

Do not try to bail out a failing business. If your business isn’t doing well, don’t take out a small business credit card with the hopes of bailing it out. Odds are you’ll only get into more debt and make the situation worse.

Best way to use credit cards for your business

Earn rewards. Almost all of the cards mentioned in this roundup provide rewards, allowing business owners to be benefit from typical business spending. You can use the rewards you earn in a variety of ways, like booking travel, applying cash back as statement credit to cover bills or redeeming them for gift cards for business expenses or employee incentives.

Manage cash flow. Business cards may provide expense-management tools so you can monitor spending and simplify everyday business transactions. You can use your card to automate business expenses like monthly phone bills or regular office-supply purchases.

Build business credit. Opening a small business credit card has the potential to build and improve your business credit. If you make on-time payments and use a relatively small amount of your available credit, your business’ credit can benefit greatly. Having a good business credit score can help you down the line if you plan on taking out a loan or other credit products.

Short-term borrowing. If your business plans on making purchases that can’t be paid immediately, some business credit cards offer 0% intro periods that are ideal for short-term borrowing and can be a better choice than a personal loan — when used responsibly. During the 0% intro period, you can carry a balance without incurring interest, and if you pay it off before the intro period ends, you can save on the interest that you would’ve incurred if you had taken out a loan.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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Best of

Best Cash Back Credit Cards for Gas – November 2018

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Gas in car_lg

Whether you’re hit by high gas prices in your area or you’re a heavy commuter, finding a credit card that offers a high rewards rate on gas purchases will definitely come in handy. There are cards that can earn you up to 5% cash back on eligible gas purchases, which can take the sting out of a stop to top off the tank.

Here are our top picks for gas credit cards.

Fort Knox Federal Credit Union Visa® Platinum Card

Fort Knox Federal Credit Union Visa® Platinum Card

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Fort Knox Federal Credit Union Visa® Platinum Card

Regular Purchase APR
11.25% - 18.00% Variable
Annual fee
$0
Rewards Rate
Earn an unlimited 5% cash back on gas and 1% cash back on all other purchases.

The Fort Knox Federal Credit Union Visa® Platinum Card lets you Earn an unlimited 5% cash back on gas and 1% cash back on all other purchases. This is a great rate that can earn you significant rewards. There is also no annual fee. Since Fort Knox is a credit union, you will have to join in order to obtain this card. Anyone can join for $15, of which $5 represents one share in the credit union; the remaining $10 covers your one-time membership fee. This card is great for big spenders in gas who don’t mind working with a credit union.

Sams Club® Mastercard®

Sams Club® Mastercard®

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Sams Club® Mastercard®

Regular Purchase APR
16.65% or 24.65% Variable
Annual fee
$0
Rewards Rate
$5,000 cash back per calendar year and offers 5% cash back on gas (on first $6,000 per year in purchases, then 1%), 3% on dining and travel, and 1% on other purchases.

The Sams Club® Mastercard® offers $5,000 cash back per calendar year and offers 5% cash back on gas (on first $6,000 per year in purchases, then 1%), 3% on dining and travel, and 1% on other purchases.. You need to be a Sam’s Club member to have this card, and annual memberships start at $45. Qualifying gas purchases include spending at gas stations, Sam’s Club fuel stations and Walmart fuel stations located in the U.S. and Puerto Rico; however, there are exclusions: Purchases at fuel stations at wholesale clubs (other than Sam’s Club), certain supercenters and supermarkets won’t earn 5%. Instead, they’ll earn 1%. Take note that the cash back redemption is limited to an annual check mailed out in February. You then have to go to a Sam’s Club to redeem your check.

Costco Anywhere Visa® Card by Citi

Costco Anywhere Visa® Card from Citi

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Costco Anywhere Visa® Card from Citi

Regular Purchase APR
17.24%* (Variable)
Annual fee
$0
Rewards Rate
4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases

The Costco Anywhere Visa® Card by Citi offers 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases. Most gas credit cards limit you to only U.S. gas purchases and often exclude wholesale gas purchases, but not this card. There is a $0 annual fee for this card, but you need to have a Costco membership (currently $60). The main catch with this card is it’s not simple to redeem rewards — cash back will be provided as an annual certificate in February billing statements, redeemable for cash or merchandise at US Costco Warehouses.

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

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on Bank Of America’s secure website

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

Regular Purchase APR
15.24% - 25.24% Variable APR
Annual fee
$0
Rewards Rate
3% cash back on gas and 2% at grocery stores and wholesale clubs for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. 1% cash back on all other purchases

The Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer has a good cashback rate for gas purchases. You’ll earn 3% cash back on gas and 2% at grocery stores and wholesale clubs for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. 1% cash back on all other purchases. There is a $0 annual fee and if you redeem your cash back into a Bank of America checking or saving account you can receive a 10% bonus. Cardholders who will have the most benefit are Bank of America Preferred Rewards clients. As a Preferred Rewards client, you can increase your bonus to 25-75%, making your gas cash back an effective 3.75%-5.25%. There’s a sign-up bonus that can kickstart your rewards: $200 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening.

Which card is the right fit for me?

Since there are many credit cards for you to maximize your rewards from gas purchases, it can be confusing to choose a card. There are cards that offer high rates without caps. Others come with additional bonus categories to consider.

The table below breaks down which gas card may be a good fit for you when factoring annual gas spending, cashback rate and annual fee. (Sign-on bonuses are not reflected.) Keep in mind: This only factors in spending on gas purchases and doesn’t consider if you spend in other categories or at the other cashback rates.

Here are several key takeaways:

  • The Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer will earn you the most cash back ONLY if you’re a Preferred Rewards member with at least $100,000 in a BofA checking/savings account. Otherwise, the Fort Knox Federal Credit Union Visa® Platinum Card will earn you the most cash back.
  • Although the Costco Anywhere Visa® Card by Citi doesn’t earn you the most cash back, it may be a better fit for Costco shoppers due to the other high-cashback categories.
  • You won’t earn the best cashback rate with the Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer unless you’re a Bank of America Preferred Rewards client with $100,000 in a checking or savings account — allowing you to benefit from a 75% redemption bonus
  • The Sams Club® Mastercard® is a good option for current members who fuel up at Sam’s Club and spend $5,000 or less a year on gas.
  

Card

Fort Knox Credit Union Visa® Platinum

Costco Anywhere Visa® Card by Citi

Bank of America® Cash Rewards Credit Card: without a BofA checking / savings

Bank of America® Cash Rewards Credit Card: with $100,000 in a BofA checking / savings

Sam's Club® Mastercard®

Spending

$1,000

$50

$40

$30

$53

$50

$2,000

$100

$80

$60

$105

$100

$3,000

$150

$120

$90

$158

$150

$4,000

$200

$160

$120

$210

$200

$5,000

$250

$200

$150

$263

$250

$6,000

$300

$240

$180

$315

$300

$7,000

$350

$280

$210

$368

$310

$8,000

$400

$290

$240

$420

$320

$9,000

$450

$300

$270

$473

$330

$10,000

$500

$310

$300

$525

$340

*We did not include the Costco and Sam’s Club membership fees in our calculations.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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Best of, Earning Cashback

Best Cash Back Cards for Grocery Shopping in November 2018

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication. This site may be compensated through a credit card partnership.

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Shopping for groceries can be a painful experience. There are numerous aisles, thousands of items and long checkout lines to contend with. Then there’s one more blow: watching the dollars add up at the register.

But signing up for a solid cashback credit card can be a good way to earn a percentage of your grocery purchases back and take some of the sting out of that shopping trip.

Here are the best cashback cards for grocery shopping.

Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American Express

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on American Express’s secure website

Terms Apply

Rates & Fees

Blue Cash Everyday® Card from American Express

Regular Purchase APR
14.99%-25.99% Variable
Annual fee
$0
Rewards Rate
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
Credit required
good-credit
Excellent/Good

The Blue Cash Everyday® Card from American Express, offers 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases. It comes with a $0 annual fee. This is a great rate for habitual shoppers so long as you spend up to $3,167 a year at supermarkets. If you spend more than that, then you might be better off with the Blue Cash Preferred® Card from American Express, which comes with a $95 annual fee but higher cashback potential.

The Welcome Offer is a $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. This is a good way to maximize your rewards.

Blue Cash Preferred® Card from American Express

Blue Cash Preferred® Card from American Express

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on American Express’s secure website

Terms Apply

Rates & Fees

Blue Cash Preferred® Card from American Express

Regular Purchase APR
14.99%-25.99% Variable
Annual fee
$95
Rewards Rate
6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 3% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
Credit required
good-credit
Excellent/Good

The Blue Cash Preferred® Card from American Express offers the highest cashback rate for big grocery spenders — 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). This card does come with a $95 annual fee and you need to spend $1,584 a year on groceries to break even. If you spend $3,167 a year ($264 a month) or more on groceries you will benefit from this card more than the Blue Cash Everyday® Card from American Express. You’ll also earn a high 3% cash back at U.S. gas stations and select U.S. department stores and 1% back on other purchases. There’s an added Welcome Offer: $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

Amazon Prime Rewards Visa® Signature Card

Amazon Prime Rewards Visa® Signature Card

The information related to Amazon Prime Rewards Visa® Signature Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Amazon Prime Rewards Visa® Signature Card

Regular Purchase APR
16.24% - 24.24% Variable
Annual fee
$0
Rewards Rate
Earn 5% back at Amazon.com and Whole Foods Market with eligible Prime membership, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases.

The Amazon Prime Rewards Visa® Signature Card offers a grocery cash back program that is geared toward Whole Foods Market shoppers. You’ll Earn 5% back at Amazon.com and Whole Foods Market with eligible Prime membership, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases. This is a great rate if you frequently spend at Whole Foods Market and easily rivals offers from competing cards. There is no annual fee, but you will need a Prime membership to benefit from the 5% rate — currently, annual plans cost $99 or $49 for students. If you don’t have a Prime membership, check out the Amazon Rewards Visa® Signature Card mentioned below.

Amazon Rewards Visa® Signature Card

Amazon Rewards Visa® Signature Card

The information related to Amazon Rewards Visa® Signature Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Amazon Rewards Visa® Signature Card

Regular Purchase APR
16.24% - 24.24% Variable
Annual fee
$0
Rewards Rate
Earn 3% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases.

The Amazon Rewards Visa® Signature Card is similar to the Amazon Prime Rewards Visa® Signature Card, but doesn’t require a Prime membership. This card also has no annual fee but offers a lower rate at Amazon.com and Whole Foods Market. You Earn 3% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases. This rate stands out for Whole Foods Market shoppers and can be more beneficial if you primarily shop at Whole Foods Market since there are no caps on the 3% rate (unlike other grocery cards on this list).

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

APPLY NOW Secured

on Bank Of America’s secure website

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

Regular Purchase APR
15.24% - 25.24% Variable APR
Annual fee
$0
Rewards Rate
3% cash back on gas and 2% at grocery stores and wholesale clubs for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. 1% cash back on all other purchases

The Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer has a decent cashback rate for groceries, however it is lower than what you’ll find with competing cards. You’ll earn 3% cash back on gas and 2% at grocery stores and wholesale clubs for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. 1% cash back on all other purchases. There is a $0 annual fee and you can redeem your cash back directly into a Bank of America checking or saving account for a 10% bonus. People who will benefit most from this card are those who are Bank of America Preferred Rewards clients. As a Preferred Rewards client, you could increase your bonus to 25-75%, making your grocery cash back an effective 2.5-3.5%. If you apply online, you can earn a  $200 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening.

Huntington Voice Credit Card®

Huntington Voice Credit Card®

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on Huntington National Bank’s secure website

Huntington Voice Credit Card®

Regular Purchase APR
13.99% - 27.99% Variable
Annual fee
$0
Rewards Rate
3X points in one of 10 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points.

The Huntington Voice Credit Card® has a $0 annual fee and earns you 3X points in one of 10 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points. You also have the freedom to change your 3X category every quarter to suit your spending. But be aware that if you switch from grocery stores to another category, you’ll only earn 1X points on grocery spending. Points can be redeemed for cash and 1 point equals $0.01, therefore 5,000 points is equal to $50 cash rewards.

Which card is the right fit for me?

With numerous credit cards available to help maximize your grocery rewards, it can be confusing to know which to choose. Some cards provide unlimited rewards at a high rate, while most have caps on grocery spending.

The table below breaks down which grocery card may be a good fit for you when factoring in annual grocery spending, cashback rate and annual fee. (Sign-on bonuses are not reflected.) Keep in mind: This only factors in spending on grocery purchases and doesn’t consider if you spend in other categories or at the other cashback rates.

Here are a few key takeaways:

  • If you spend about $3,000 a year on groceries, you will benefit more from the Blue Cash Everyday® Card from American Express, Amazon Rewards Visa® Signature Card or the Huntington Voice Credit Card®.
  • If you spend around $4,000 – $7,000 a year, you will benefit more from the Blue Cash Preferred® Card from American Express.
  • If you spend on average $8,000 or more a year at Whole Foods Market, you will benefit more from the Amazon Prime Rewards Visa® Signature Card.
  • The Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer earns you subpar cash back unless you have $100,000 in a Bank of America checking or savings account.
  

Card

Amazon Prime Rewards Visa® Signature Card

Amazon Rewards Visa® Signature Card

Huntington Voice Credit Card®

Blue Cash Everyday® Card from American Express

Blue Cash Preferred® Card from American Express

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer: without BofA checking/
savings

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer: with $100,000 in BofA checking/
savings

Spending

$1,000

-$49

$30

$30

$30

-$35

$20

$35

$2,000

$1

$60

$60

$60

$25

$40

$70

$3,000

$51

$90

$90

$90

$85

$60

$105

$4,000

$101

$120

$120

$120

$145

$80

$140

$5,000

$151

$150

$150

$150

$205

$100

$175

$6,000

$201

$180

$180

$180

$265

$120

$210

$7,000

$251

$210

$210

$190

$275

$140

$245

$8,000

$301

$240

$240

$200

$285

$160

$280

$9,000

$351

$270

$250

$210

$295

$180

$315

$10,000

$401

$300

$260

$220

$305

$200

$350

*We included the $99 Prime membership fee into our calculations for the Amazon Prime Rewards Visa® Signature Card and the $95 annual fee for the Blue Cash Preferred® Card from American Express.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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Balance Transfer, Best of

Credit Scores That Get Balance Transfer Credit Cards

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication. This site may be compensated through a credit card partnership.

If you’re someone who struggles with credit card debt and high interest rates, a balance transfer might be a way to dig yourself out of indebtedness. There are various balance transfer credit cards that offer long 0% intro APR periods that provide you with ample time to pay off your balance. Depending on your credit score, you may qualify for some of the cards we list below.

Keep in mind that the credit score ranges listed below don’t guarantee that you will be approved for a card simply because you fall within the given credit range. Lenders consider numerous factors when determining eligibility.

Excellent credit

Chase Freedom®

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on Chase Bank’s secure website

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Chase Freedom®

Intro BT APR
0% Intro APR on Balance Transfers for 15 months
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Regular Purchase APR
16.99% - 25.74% Variable
Duration
0% Intro APR on Balance Transfers for 15 months
Credit required
good-credit

Excellent/Good

Citi Simplicity® Card - No Late Fees Ever

APPLY NOW Secured

on Citibank’s secure website

Citi Simplicity® Card - No Late Fees Ever

Intro BT APR
0%* for 21 months on Balance Transfers*
Intro Purchase APR
0%* for 12 months on Purchases*
Regular Purchase APR
15.99% - 25.99%* (Variable)
Balance Transfer Fee
5% of each balance transfer; $5 minimum
Credit required
good-credit
Excellent/Good

Citi® Double Cash Card – 18 month BT offer

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on Citibank’s secure website

Read Full Review

Citi® Double Cash Card – 18 month BT offer

Intro BT APR
0% for 18 months on Balance Transfers*
Balance Transfer Fee
3% of each balance transfer; $5 minimum.
Regular Purchase APR
15.49% - 25.49%* (Variable)
Duration
0% for 18 months on Balance Transfers*
Credit required
good-credit
Excellent, Good

Sphere® Credit Card from Santander

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on Santander Bank, N.A’s secure website

Read Full Review

Sphere® Credit Card from Santander

Intro BT APR
0% intro APR on balance transfers for 18 billing cycles if taken within the first 90 days of account opening
Balance Transfer Fee
$10 or 4% of the amount of each transaction, whichever is greater
Regular Purchase APR
14.49% to 24.49% Variable
Duration
0% intro APR on balance transfers for 18 billing cycles if taken within the first 90 days of account opening

Wells Fargo Platinum Visa® Card

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on Wells Fargo Bank’s secure website

Read Full Review

Wells Fargo Platinum Visa® Card

Intro BT APR
0% for 18 months
Balance Transfer Fee
3% Intro for 18 months, then 5%
Regular Purchase APR
17.49%-26.99% (Variable)
Duration
0% for 18 months
Credit required
good-credit
Excellent

Good credit

BankAmericard® Credit Card

APPLY NOW Secured

on Bank Of America’s secure website

BankAmericard® Credit Card

Intro BT APR
0% Intro APR for 18 billing cycles for balance transfers made in the first 60 days
Balance Transfer Fee
Either $10 or 3% of the amount of each transaction, whichever is greater.
Regular Purchase APR
14.99% - 24.99% Variable APR
Duration
0% Intro APR for 18 billing cycles for balance transfers made in the first 60 days
Credit required
good-credit
Excellent/Good

Discover it® Balance Transfer

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on Discover Bank’s secure website

Rates & Fees

Read Full Review

Discover it® Balance Transfer

Intro BT APR
0% for 18 Months
Balance Transfer Fee
3%
Regular APR
13.99% - 24.99% Variable
Duration
0% for 18 Months
Credit required
good-credit
Excellent/Good Credit

Citi Simplicity® Card - No Late Fees Ever

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on Citibank’s secure website

Read Full Review

Citi Simplicity® Card - No Late Fees Ever

Intro BT APR
0%* for 21 months on Balance Transfers*
Balance Transfer Fee
5% of each balance transfer; $5 minimum
Regular Purchase APR
15.99% - 25.99%* (Variable)
Duration
0%* for 21 months on Balance Transfers*
Credit required
good-credit
Excellent/Good

Citi® Double Cash Card – 18 month BT offer

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on Citibank’s secure website

Read Full Review

Citi® Double Cash Card – 18 month BT offer

Intro BT APR
0% for 18 months on Balance Transfers*
Balance Transfer Fee
3% of each balance transfer; $5 minimum.
Regular Purchase APR
15.49% - 25.49%* (Variable)
Duration
0% for 18 months on Balance Transfers*
Credit required
good-credit
Excellent, Good

Capital One® Quicksilver® Cash Rewards Credit Card

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on Capital One’s secure website

Read Full Review

Capital One® Quicksilver® Cash Rewards Credit Card

Intro BT APR
0% intro on balance transfers for 15 months
Balance Transfer Fee
3%
Regular Purchase APR
14.74% - 24.74% (Variable)
Duration
0% intro on balance transfers for 15 months
Credit required
good-credit
Excellent/Good

Chase Freedom®

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on Chase Bank’s secure website

Read Full Review

Chase Freedom®

Intro BT APR
0% Intro APR on Balance Transfers for 15 months
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Regular Purchase APR
16.99% - 25.74% Variable
Duration
0% Intro APR on Balance Transfers for 15 months
Credit required
good-credit

Excellent/Good

Fair credit

We recommend using LendingTree to shop for the best personal loan. With a single online form, you can see results from dozens of lenders and shop around for the best deal. By using LendingTree to look for a personal loan, a soft credit pull is performed, which means your credit score will not be negatively impacted. Here are options for fair credit:

Platinum Mastercard® from Aspire FCU

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on Aspire Federal Credit Union’s secure website

Read Full Review

Platinum Mastercard® from Aspire FCU

Intro BT APR
0% Intro APR on Balance Transfers for 6 months
Balance Transfer Fee
$5 or 2% of the amount of each balance transfer, whichever is greater
Regular Purchase APR
8.90% - 18.00% Variable
Duration
0% Intro APR on Balance Transfers for 6 months
Credit required
fair-credit

Average

SEE OFFERS Secured

on LendingTree’s secure website

LendingTree is our parent company

LendingTree

Loan Amount
up to $35,000
Term
24 to 60 Months
APR Range
5.99%-35.99%
Origination Fee
Varies
Credit Required
Bad or Could be Better/Average/Good/Excellent
Soft Pull
You can get your rate without hurting your score.

LendingTree is our parent company. LendingTree is unique in that you may be able to compare up to five personal loan offers within minutes. Everything is done online and you may be pre-qualified by lenders without impacting your credit score. LendingTree is not a lender.

Bad credit

*The credit score ranges listed above are for FICO Scores and obtained from Experian.

FAQ

The amount of time your have to complete your transfer will vary by credit card. Many cards require you to complete your transfer between 30 to 60 days from account opening, but check your specific card agreement for specifics. A good rule of thumb is to complete your transfer as soon as possible; the 0% intro APR period often starts from the day your account is opened.

Many cards charge a balance transfer fee ranging from 3 to 5 percent of the amount you transfer. So if you transfer $1,000 to a card with a 3 percent fee, you will accrue a $30 fee and owe $1,030. But be advised: There are cards that have $0 intro transfer fees.

Any remaining balances will accrue interest. The rate depends on your card agreement.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

TAGS: , ,

Advertiser Disclosure

Best of

7 Low Interest Rate Credit Cards – November 2018

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Carrying a balance on your credit card is never ideal, but sometimes it’s unavoidable. And with credit card interest charges that can be upward of 25.00% APR, it can be hard to get out of debt because a large portion of your payment goes to interest.

Currently, you may find yourself struggling to pay off your balance, but worry not — there are low interest cards that have APRs starting at around 6%.

Low-interest cards are a great way to save money on interest when you find yourself carrying a balance. The APRs on these cards max out around 18% on average. Some low-interest cards mentioned here even have 0% APR intro periods that are helpful if you have an existing balance on a credit card and want to transfer it, or if you plan on making purchases that you need several months to pay off.

The seven main cards in this post are from credit unions, which often have lower rates than large banks. But they require memberships, which are sometimes restricted to certain states. In this post, we’ll explain the seven lowest interest-rate credit cards and what’s required to qualify. These cards are based on a usage period of around 24 months or more, which is typically not long enough for most intro 0% APR cards.

7 low interest rate credit cards

Visa® Titanium Signature Rewards Card from Andrews Federal CU

Visa® Titanium Signature Rewards Card from Andrews Federal CU

APPLY NOW Secured

on Andrews Federal Credit Union’s secure website

Visa® Titanium Signature Rewards Card from Andrews Federal CU

Annual fee
$0
Regular Purchase APR
6.99% - 18.00% Variable

The Visa® Titanium Signature Rewards Card from Andrews Federal CU has the lowest ongoing APR on our list at 6.99% - 18.00% Variable. If you qualify for the lowest rate and end up carrying a balance, you may be charged little interest (compared with higher APR cards). This card is a good option if you have existing debt on a credit card, because you can transfer it during the balance transfer intro period.Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: Introductory Rate Special Offer - 0% APR for 12 months
  • Intro balance transfer APR: Introductory Rate Special Offer - 0% APR for 12 months on balance transfers processed within 90 days of account opening
  • Ongoing APR: 6.99% - 18.00% Variable
  • Balance transfer fee: 1.50% of the transfer amount or $50; whichever is greater

How to qualify: Anyone can apply for this card, regardless of residence. If you don’t meet one of the several eligibility requirements, you can join the American Consumer Council for a one-time $5 donation if you have used a major consumer product or service in the past 12 months, such as a motor vehicle, insurance, or housing.

TruWest Visa Platinum Card

TruWest Visa Platinum Card

APPLY NOW Secured

on TruWest Credit Union’s secure website

TruWest Visa Platinum Card

Annual fee
$0
Regular Purchase APR
7.95% - 21.95% Variable

The regular purchase APR on the TruWest Visa Platinum Card has a wider range than the other cards on this list at 7.95% - 21.95% Variable. However, this card has the longest 0% APR period from a credit union at 0% introductory APR for 18 months on purchases and balance transfers. This is a large amount of time for you to carry a balance interest-free.Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: 0% introductory APR for 18 months
  • Intro balance transfer APR: 0% introductory APR for 18 months
  • Ongoing APR: 7.95% - 21.95% Variable
  • Balance transfer fee: 3% of the amount of each balance transfer

How to qualify: Unfortunately, not everyone can apply for this card. It is restricted to people who live, work, own a business, or go to school in select Arizona and Texas communities or who work for select employers. You can read more about membership eligibility on TruWest’s website.

Visa® Platinum Card from Trustmark Bank

Visa® Platinum Card from Trustmark Bank

APPLY NOW Secured

on Trustmark Bank’s secure website

Visa® Platinum Card from Trustmark Bank

Annual fee
$0
Regular Purchase APR
8.15%-13.15% Variable

The Visa® Platinum Card from Trustmark Bank bank has a great low APR range. This is the best range on the list when considering both the minimum and maximum APR, and it benefits people who may not have the best credit because the highest interest rate is still lower than most credit cards. So what’s the catch? Unfortunately, this card has restricted membership (see below for details) and the 0% APR intro periods are very low compared to other cards.Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: 0% Introductory APR for the first six billing cycles
  • Intro balance transfer APR: 0% Introductory APR for the first six billing cycles
  • Ongoing APR: 8.15%-13.15% Variable
  • Balance transfer fee: None

How to qualify: Anyone can apply, however you can’t apply online. You either have to go to one of their locations or call and have an application mailed to you.

BECU Visa® Credit Card from Boeing Employees CU

BECU Visa® Credit Card from Boeing Employees CU

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on BECU (Boeing Employees Credit Union)’s secure website

BECU Visa® Credit Card from Boeing Employees CU

Annual fee
$0
Regular Purchase APR
8.65% to 22.65% Variable

The BECU Visa® Credit Card from Boeing Employees CU is an overall standout card with a reasonable APR and great additional perks. For example, there is a Reprice Program where BECU will lower your rates as your credit score improves. This is a great feature, especially for people who don’t qualify for the lowest rate. Additionally, there are limited fees, such as no balance transfer fee — allowing you to maximize savings when you transfer debt from another card.Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: 0% Introductory APR for twelve (12) months from date of account opening.
  • Intro balance transfer APR: 0% Introductory APR for twelve (12) months from date of transfer when transfers are completed within 90 days of account opening.
  • Ongoing APR: 8.65% to 22.65% Variable
  • Balance transfer fee: None

How to qualify: This card has restricted membership with several ways to qualify: you need to live in Washington State or select counties in Oregon, have a relationship with select employers or associations, or have a business or organization that meets certain requirements. Find out more about membership here.

Visa® Advantage Card from NEFCU

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on NEFCU’s secure website

Visa® Advantage Card from NEFCU

Annual fee
$0
Regular Purchase APR
9.74%-17.99% Variable

The can be a decent option for Long Islanders who may carry a balance at some point. Note that the APR range is higher than other cards on this list, but your best option depends on cards’ membership criteria. The intro period for this card is sub par compared to others because the APR is greater than 0%.Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: ( APR, thereafter)
  • Intro balance transfer APR: ( APR, thereafter)
  • Balance transfer fee: None

How to qualify: This card is open to all Long Islanders. That means if you live, work, or attend school in Nassau or Suffolk counties in New York, you may qualify. You can also gain membership through a family member. Click here for more info on eligibility.

TruWest Platinum Points Visa Rewards Card

TruWest Platinum Points Visa Rewards Card

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on TruWest Credit Union’s secure website

TruWest Platinum Points Visa Rewards Card

Annual fee
$0
Regular Purchase APR
9.90% - 16.90% Variable

The starting APR for the TruWest Platinum Points Visa Rewards Card is a bit higher than other low interest cards, but the max APR is fairly low. Similar to the TruWest Visa Platinum Card, the TruWest Platinum Points Visa Rewards Card has a long 00% introductory APR for 18 months on purchases and balance transfers. This card also comes with a rewards program where you can automatically earn up to one point per dollar spent, though we recommend using this card to pay down debt and not earn rewards.Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: 0% introductory APR for 18 months
  • Intro balance transfer APR: 0% introductory APR for 18 months
  • Ongoing APR: 9.90% - 16.90% Variable
  • Balance transfer fee: 3%

How to qualify: Like the other TruWest card, this card is restricted to people who live, work, own a business or go to school in select Arizona and Texas communities or who work for select employers. You can read more about membership eligibility on TruWest’s website.

Visa® Platinum Card from NIHFCU

Visa® Platinum Card from NIHFCU

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on Nih FCU’s secure website

Visa® Platinum Card from NIHFCU

Annual fee
$0
Regular Purchase APR
9.74%-18.00% Variable

The Visa® Platinum Card from NIHFCU has the highest starting APR of all the cards on this list. However, there is a decent 0% intro rate for 12 months on purchases and balance trasnfers, and the balance transfer fee is lower than average at $10.00 or 2.00% of the amount of each balance transfer, whichever is greater.Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: 0% intro rate for 12 months
  • Intro balance transfer APR: 0% intro rate for 12 months
  • Ongoing APR: 9.74%-18.00% Variable
  • Balance transfer fee: $10.00 or 2.00% of the amount of each balance transfer, whichever is greater

How to qualify: This card restricts membership to people in the biomedical and healthcare industries in Md., N.C., Va., W.Va., or Washington D.C. You can also qualify if a family member is a current NIHFCU member. Visit NIHFCU’s site for more details.

Other options

Below, we’ve compiled a few options if you want a 0% APR intro card or if you want to consider a balance transfer card. All of these cards come from major banks, so anyone can apply.

Cards with a 0% APR intro period

Citi Simplicity® Card - No Late Fees Ever

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on Citibank’s secure website

Citi Simplicity® Card - No Late Fees Ever

Regular Purchase APR
15.99% - 25.99%* (Variable)
Intro Purchase APR
0%* for 12 months on Purchases*
Intro BT APR
0%* for 21 months on Balance Transfers*
Annual fee
$0*
Balance Transfer Fee
5% of each balance transfer; $5 minimum
The Citi Simplicity® Card - No Late Fees Ever one of the longest intro 0% periods for balance transfers on the market, at intro 0%* for 21 months on Balance Transfers*. This is over a year and a half for you to rid yourself of debt. Note that there is a balance transfer fee of 5% of each balance transfer; $5 minimum. There is also an intro 0%* for 12 months on Purchases*. After the intro periods end, the APR is 15.99% - 25.99%* (Variable).

Cards with a 0% APR balance transfer intro period

Sphere® Credit Card from Santander

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on Santander Bank, N.A’s secure website

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Sphere® Credit Card from Santander

Regular Purchase APR
14.49% to 24.49% Variable
Intro Purchase APR
0% intro APR on purchases for the first 18 billing cycles
Intro BT APR
0% intro APR on balance transfers for 18 billing cycles if taken within the first 90 days of account opening
Annual fee
$0
Rewards Rate
1 reward point for every dollar spent, with no limits
Balance Transfer Fee
$10 or 4% of the amount of each transaction, whichever is greater
The Sphere® Credit Card from Santander has one of the longest balance transfer intro periods in our database at 0% intro APR on balance transfers for 18 billing cycles if taken within the first 90 days of account opening (after, 14.49% to 24.49% Variable APR). Although this is a great amount of time for you to pay off transferred debt, it comes with a hefty balance transfer fee at $10 or 4% of the amount of each transaction, whichever is greater. This is something to consider before choosing a card, but the balance transfer fee may be worth it if you’re saving money from high-interest payments with your current card. Purchases can also benefit from a 0% intro APR on purchases for the first 18 billing cycles (after, 14.49% to 24.49% Variable APR). There is also a rewards program: earn 1 reward point for every dollar spent, with no limits. However, we recommend using this card to pay off debt and not just to earn rewards.

How to qualify: This card is only available to people who live in: Conn., Washington D.C., Del., Maine, Md., Mass., N.H., N.J., N.Y., Pa., R.I., or Vt.

Chase Slate®

The Chase Slate® is one of our favorite balance transfer cards. It offers 0% Intro APR on Purchases for 15 months and 0% Intro APR on Balance Transfers for 15 months (after 16.99% - 25.74% Variable APR). This isn’t the longest intro period, but this card comes with a standout feature of an intro Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater. This can save you on the typical 2-5% balance transfer fee many other cards charge.

The information related to the Chase Slate® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

The bottom line

If your goal is to reduce the amount of interest you pay on your credit card debt, look at cards with low APRs and membership requirements you can meet. Remember that your credit score will be a significant factor in the APR you receive, so be sure to look at both ends of the APR ranges when comparing cards since you may not receive the lowest rate.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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College Students and Recent Grads

Top Checking Accounts for College Grads

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Top Checking Accounts for College Grads
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For many college students, their default banking option while in school is a student checking account, which is typically free. Unfortunately, when you graduate you lose those benefits. Many student checking accounts will begin to charge you monthly maintenance fees unless you meet certain requirements.

So, where do you go from there?

Few young adults would turn to their parents for fashion or dating advice and, yet, one of the most common ways we’ve found young people choose their bank account is by going with whichever bank their parents already use. This could be a bigger faux pas than stealing your dad’s old pair of parachute pants.

The bank your parents use may carry fees or have requirements that don’t meet your lifestyle or budget, and make accounts expensive to use.

But where do you even begin to choose the right checking account?

When you’re nearing graduation, start planning your bank transition.

Many banks send a letter in the mail a few months prior to your expected graduation date informing you that your student checking account is going transition to a non-student account. If you’re not careful and you disregard the letter, you may be transitioned into an account that charges a fee if you don’t meet certain requirements.

You can always call the bank and ask to switch to a different account or you can choose a new account that offers more benefits, like interest and ATM fee refunds.

The 5 key things you should look for in a checking account

When you’re shopping around for a new checking account, there are several things you should look for to ensure you’re getting the most value from your account:

  1. A $0 monthly fee: Sometimes banks may say they don’t charge a monthly fee but read the fine print — they may require a minimum monthly balance in order to avoid it. There are plenty of free checking accounts available for you to open, so there’s no reason to stay stuck with an account that charges a monthly fee. Take note some accounts may require you to meet certain criteria to maintain a free account like using a debit card, enrolling in eStatements or maintaining a minimum daily balance.
  2. No minimum daily balance: Accounts without minimum daily balances mean you can have a $0 balance at any given time. This may allow you to have a free account without meeting balance requirements — note, other terms may apply to maintain a free account.
  3. APY: Annual Percentage Yield is the total amount of interest you will earn on balances in your account. Opening an account that earns you interest on your balance is an easy way to be rewarded for money that would typically sit without earning anything. Some checking accounts earn interest, albeit rarely, but you should definitely aim to earn a decent APY on your savings account.
  4. ATM fee refunds: You may not be able to access an in-network ATM at all times, so accounts providing ATM fee refunds can reimburse you for ATM fees you may incur while using out-of-network ATMs. Those $3 or $5 charges add up!
  5. No or low overdraft fees: Most banks charge you an overdraft fee of around $35 if you spend more money than you have available in your account. Therefore, it’s a good idea to choose an account that has no or low overdraft fees.

Top overall checking accounts for college grads

The best checking accounts will have a number of features that are both simple and low cost. For the top overall checking accounts, we chose accounts that have no monthly service fees, no ATM fees, refunds for ATM fees from other banks, interest earned on your deposited balances and with strong mobile banking apps. While there is no all-inclusive account that contains every benefit, the accounts below are sure to provide value whether you want a high interest rate, unlimited ATM fee refunds or 24/7 live customer support.

1. Aspiration – The Aspiration Summit Account

Monthly Fee

Minimum Monthly Balance

Amount to Open

ATM Fee Refunds

APY

$0

$0

$10

Unlimited

0.25% APY on balances up to $2,499.99

1.00% APY on balances $2,500+

The Aspiration Summit Account offers a wide range of benefits for account holders and has few fees. The amount to open is fairly low, and once you open your account there is no minimum monthly balance to maintain — though the more money you keep in your account, the more interest you’ll earn.

Another helpful feature is unlimited ATM fee refunds. That means you can either use in-network ATMs (filter by checking “SUM”) and avoid fees, or use any other ATM and be reimbursed for any fees incurred at the end of the month. If you’re looking for an interest checking account with no ATM fees, the Aspiration Summit Account is a solid choice.

LEARN MORE Secured

on Aspiration’s secure website

Member FDIC

2. nbkc bank – Personal Account

Monthly Fee

Minimum Monthly Balance

Amount to Open

ATM Fee Refunds

APY

$0

$0

$5

Up to $12 a month

0.90% APY on all balances

nbkc has several locations in the Kansas City region. Anyone can sign up for an account, however. This just means if you don’t reside nearby, you’ll have to rely on their online banking system.

The nbkc Personal Account earns interest on your balances and has no hidden fees. Typical checking accounts charge overdraft fees and stop payment fees, among others, but nbkc doesn’t.

The two fees that may apply are for less common transactions — $5 to send domestic wires and $45 to send or receive international wires.

You can use 24,000+ MoneyPass® ATMs in the U.S. for free, and if you use out-of-network ATMs you’ll be reimbursed up to $12 a month. This account is a good choice if you want a checking account that has minimal fees and earns interest.

LEARN MORE Secured

on nbkc bank’s secure website

Member FDIC

3. Ally Bank – Interest Checking Account

Monthly Fee

Minimum Monthly Balance

Amount to Open

ATM Fee Refunds

APY

$0

$0

$0

Up to $10 per statement cycle

0.10% on daily balances less than $15,000

0.60% on daily balances $15,000+

Ally Bank is an overall great online bank and their Interest Checking Account is a standout choice if you want to open an account without depositing any money. There are some standout perks with this card like 24/7 live customer care and the ability to send money with Zelle®.

There are also no ATM fees at U.S. Allpoint® ATMs, and you’ll receive up to $10 per statement cycle for fees charged at other ATMs nationwide. This account earns at a lower interest rate than the two mentioned earlier, but it’s still better than typical banks. Ally Bank’s Interest Checking Account provides account holders with a well-rounded experience and the ability to earn interest.

LEARN MORE Secured

on Ally Bank’s secure website

Member FDIC

Check out our full list of the best checking accounts.

Top free checking accounts for college grads

Free checking accounts are a great way to save on the monthly service fees many banks charge if you don’t meet deposit or balance requirements. The checking accounts listed below are all free, and if there are requirements, they’re minor like enrolling in eStatements or using a debit card. These accounts can be a good choice if you often have a fluctuating or low account balance and don’t want to worry about maintaining the requirements big banks impose to keep their accounts free.

1. Atlantic Stewardship Bank – Cash Back Checking

Monthly Fee

Minimum Monthly Balance

Amount to Open

ATM Fee Refunds

APY

$0

$0

$1

Unlimited

Does not earn interest. But it does offer 0.50% cash back if you meet requirements*

Atlantic Stewardship Bank is headquartered in New Jersey and donates 10% of its profits annually to Christian and nonprofit organizations. Its Cash Back Checking account has a minor opening deposit and basic requirements for you to meet to get the added perks.

*When you make 12 debit card transactions each cycle and enroll in online banking and eStatements, you can receive unlimited ATM fee refunds and the chance to earn rewards at 0.50% cash back on debit card purchases.

LEARN MORE Secured

on Atlantic Stewardship Bank’s secure website

Member FDIC

2. Radius Bank – Radius Hybrid Checking

Monthly Fee

Minimum Monthly Balance

Amount to Open

ATM Fee Refunds

APY

$0

$0

$10

Unlimited

0.85% on balances $2,500+

Radius Bank is a community bank headquartered in Boston. The Radius Hybrid Checking account is free as long as you open the account with the required deposit and meet three simple requirements: Enroll in online banking, receive eStatements and choose to receive a debit card. Unlike other checking accounts that require you to make a certain number of debit card transactions a month, Radius Bank does not. In addition to simple requirements, there are unlimited ATM fee refunds at the end of each statement cycle.

LEARN MORE Secured

on Radius Bank’s secure website

Member FDIC

3. Bay State Savings Bank – Free Kasasa Cash®

Monthly Fee

Minimum Monthly Balance

Amount to Open

ATM Fee Refunds

APY

$0

$0

$0

Unlimited

0.05% if qualifications are not met

(2.01% up to $20,000 if you meet requirements listed below*)

Bay State Savings Bank was founded in Worcester, Mass., and is an independent community bank with the goal of maintaining long-term relationships with consumers and giving back to the community via the Bay State Savings Charitable Foundation.

If you want a free account that is always free — meaning no requirements for you to meet — check out their the Free Kasasa Cash® account.

There’s a small minimum deposit to open the account and you automatically earn interest on your balances.

*If you want the added perks of unlimited ATM fee refunds and a higher 2.01% APY, you need to enroll in electronic statements and online banking, as well make 12 PIN-based debit card transactions each month.

If you don’t meet those requirements, you’ll still earn 0.05% APY, but will have to pay $0.75 per ATM transaction (plus any fee the ATM operator charges). There are thousands of surcharge-free ATMs provided by the SUM® ATM network.

LEARN MORE Secured

on Bay State Savings Bank’s secure website

Member FDIC

Check out our full list of the best free checking accounts.

Top high-yield checking accounts for college grads

Since most checking accounts offer little to no interest, high-yield checking accounts are a great way for you to maximize the money that typically would just sit in your account without earning interest. These accounts often offer interest rates that fluctuate depending on how much money you have in the account. However, in order to earn interest, there are some requirements that you may have to meet such as making a certain number of debit card transactions and enrolling in eStatements.

1. First Financial Credit Union – High 5 Checking

Monthly Fee

Minimum Monthly Balance

Amount to Open

ATM Fee Refunds

APY

$0

$0

$0

Up to $10 per statement cycle

5.00% APY on balances up to $2,500

0.10% APY on balances of $2,500.01 or more

The High 5 Checking account from First Financial Credit Union is a free account that has fewer requirements for you to follow to qualify for the interest rates compared with other high-yield checking accounts. That’s why it tops our list.

All you need to do is enroll in eStatements and complete 15 signature-based debit card transactions in the statement period. In addition, there are surcharge-free STAR® ATMs to use, plus out-of-network ATM fee refunds of up to $10 per statement cycle. You can also earn Buzz® Points with your debit card that can be redeemed as statement credit, gift cards and other rewards.

LEARN MORE Secured

on First Financial CU (IL)’s secure website

NCUA Insured

2. America’s Credit Union – Affinity Checking

Monthly Fee

Minimum Monthly Balance

Amount to Open

ATM Fee Refunds

APY

$0

$0

$0

None

5.00% APY on balances up to $1,000

0.10% APY on balances between $1,000.01 - $15,000

0.25% APY on balances over $15,000

Like most high-yield checking accounts, you’ll need to jump through a few hoops before you qualify for the higher rate. Here are the four requirements:

  • Have $15,000 in combined loans or deposits with ACU
  • Have a $500 direct deposit each month
  • Sign up for eStatements
  • Complete 10 debit transactions in-store that post and settle during the monthly statement period

In addition, there are 30,000+ surcharge-free ATMs for you to use, and while there are no ATM fee refunds, you receive 10 free ATM fee withdrawals per month — that means America’s Credit Union will not charge you for using an out-of-network ATM, but you will have to pay whatever fee the ATM operator charges.

LEARN MORE Secured

on America's Credit Union’s secure website

NCUA Insured

3. La Capitol Federal Credit Union – Choice Plus Checking

Monthly Fee

Minimum Monthly Balance

Amount to Open

ATM Fee Refunds

APY

$2, waived if you enroll in eStatements

$0*

$50

Up to $25 per month

4.25% APY on balances up to $3,000

2.00% APY on balances $3,000-$10,000

0.10% APY on balances over $10,000 (or on all balances if you don’t make 15 or more posted non-ATM debit card transactions per month)

This checking account has a $2 monthly service fee, which can easily be waived if you enroll in eStatements.

*While the terms state a minimum balance requirement of $1,000 and a low balance fee of $8, the fee can be waived if you make 15 or more posted non-ATM debit card transactions per month.

To earn the top interest rate on your checking balance, you just need to make at least 15 or more posted non-ATM debit card transactions per month. There are numerous surcharge-free La Capitol ATMs for you to use, and after signing up for eStatements you can receive up to $25 per month in ATM fee refunds when you use out-of-network ATMs.

LEARN MORE Secured

on La Capitol Federal Credit Union’s secure website

NCUA Insured

Check out our full list of the best high-yield checking accounts.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

TAGS: