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Credit Cards: Find the Best Credit Card Offers & Deals – April 2020

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership. This site may be compensated through a credit card partnership.

The best credit cards can help you earn $2-$5 or more for every $100 you spend – an easy way to make hundreds or even thousands a year. When done properly, low-rate credit cards are also the cheapest way to borrow. Some cards won’t charge you interest for almost two years! And credit cards are the best way to build, rebuild or maintain an excellent credit score, if you pay on time and as agreed, and don’t carry high balances.

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

 

Top Credit Card for 2020

The Amex EveryDay® Credit Card from American Express ranks as our top credit card for 2020. This card offers a combination of benefits that are unmatched among other cards in the market, including 0% intro APR periods, rewards and great cardholder benefits — all at a $0 annual fee. Cardholders can utilize the intro periods for both balance transfers and purchases by taking over a year to pay off debt without accruing interest. The card also comes with a $0 balance transfer fee. The transfers must be requested within 60 days of account opening, which saves you the typical 3% transfer fee most other cards charge.

Beyond the intro periods, there is a rewards program where cardholders can earn 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases. This rate is beneficial for people who spend $500 a month at U.S. supermarkets, since this spending allows you to maximize rewards at the higher rate.

The Membership Rewards® points you earn can be redeemed for a variety of options, and a great option for travelers is the ability to transfer points to 18 participating frequent flyer programs including Delta SkyMiles, British Airways, Avianca LifeMiles and Singapore Airlines KrisFlyer.

Often these transfers are on a 1:1 rate, with some programs requiring more or less points. Additional redemption options include booking for travel, gift cards, merchandise, pay with points at checkout and statement credit. This card also has a wide range of additional benefits that vary from shopping and entertainment benefits to travel and purchase protections.

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

Tip: Make any large purchases or balance transfers as soon as you can so you can benefit from the 0% intro period.

Read our full review of The Amex EveryDay® Credit Card from American Express here.

How to Choose and Use a Rewards Card

It is now easy to earn great rewards when you use a credit card for your spending. You should earn at least 2% cash back, and you can earn even more with a bit of work. At the 2% cash back rate, the money can add up quickly. If you spend $1,000 a month, you can earn $240 a year.

How to Choose

Best Cash Back Credit Cards

Cash back credit cards are a great way for you to earn money back from everyday purchases. There are two types of cash back credit cards — flat-rate and category. Flat-rate cards offer the same cash back rate for all purchases, while category cards offer higher rates for certain purchases, such as gas, groceries, travel and dining. Below, we break down the best cash back credit cards.

Best Flat-Rate

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

Citi® Double Cash Card – 18 month BT offer

1% When You Buy + 1% When You Pay

Citi® Double Cash Card – 18 month BT offer

The Citi® Double Cash Card – 18 month BT offer is the best overall cash back credit card. So long as you pay your statement balance in full and on time every month, you will earn 2% cash back. Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay. The bonus cash back can take up to two billing cycles to post.

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

Key Information

Credit Score Required : Excellent/Good

Purchase Interest Rate : 13.99% – 23.99% (Variable) APR

Annual Fee : $0

Sign-on Bonus : None

Intro Purchase APR : None

Intro Balance Transfer : 0% for 18 months on Balance Transfers

BT Fee : 3% of each balance transfer; $5 minimum.

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

FULL REVIEW 

Fidelity® Rewards Visa Signature® Card

Unlimited 2% Cash Back on Every Purchase

Fidelity® Rewards Visa Signature® Card

The Fidelity® Rewards Visa Signature® Card offers Fidelity customers an unlimited 2% cash back on everyday purchases. The cash back you earn must be deposited into a Fidelity account, but you don’t need to have a Fidelity account to apply for the card. If you do not have a Fidelity account, they will open a Fidelity Cash Management Account to deposit your cash back. It works like a checking account with no minimum balance requirement and no monthly fees.

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

Key Information

Credit Score Required : Excellent Credit

Purchase Interest Rate :15.49% Variable

Annual Fee : $0

Sign-on Bonus : None

Intro Purchase APR : None

Intro Balance Transfer : None

BT Fee : Either 3% of the amount of each transfer or $5 minimum, whichever is greater.

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

FULL REVIEW 

Best Category Bonuses

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

Platinum Visa® from Abound Credit Union

Unlimited 5% Cash Back on Gas

Platinum Visa® from Abound Credit Union

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

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

Key Information

Credit Score Required : Good

Purchase Interest Rate : 10.75% - 18.00% Variable

Annual Fee : $0

Sign-on Bonus : N/A

Intro Purchase APR : N/A

Intro Balance Transfer : N/A

BT Fee : $0

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

Check out other gas credit cards.

Blue Cash Preferred® Card from American Express

6% Cash Back at U.S. Supermarkets (Up to $6,000 of Spend, then 1%)

Blue Cash Preferred® Card from American Express

The unparalleled 6% cash back rate at U.S. supermarkets and select U.S. streaming subscriptions makes this one of the best cards on the market for heavy grocery shoppers. Even with the $95 annual fee, most grocery shoppers will come out ahead. You will earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), and 3% cash back at U.S. gas stations and transit (e.g., taxis/rideshare, parking, tolls, trains, buses and more), as well as – 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions and 1% Cash Back on other purchases.. You’ll earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

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  • Simple, easy to understand Welcome Offer
  • There is an Annual fee

Key Information

Credit Score Required : Excellent/Good

Purchase Interest Rate : 12.99%-23.99% Variable

Annual Fee : $95

Welcome Offer : $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

Intro Purchase APR : 0% on balance transfers for 12 months

Intro Balance Transfer : 0% on balance transfers for 12 months

BT Fee : Either $5 or 3% of the amount of each transfer, whichever is greater.

Tip: If you spend less than $200 a month on groceries, you may be better off with Citi® Double Cash Card – 18 month BT offer or Fidelity® Rewards Visa Signature® Card. But, if you spend more each year, this is a great option.

FULL REVIEW 

Check out other grocery credit cards.

Uber Visa Card

3% for Dining Out

Uber Visa Card

This card appears to have millennials’ interests at heart, offering a generous rewards rate on dining purchases, including UberEATS. The Uber Visa Card offers 5% back in Uber Cash on Uber, Uber Eats, and JUMP, 3% back in Uber Cash on dining, hotels, and airfare and 1% back in Uber Cash on all other purchases

As mentioned, dining purchases are defined as spending at restaurants, bars, on takeout or via the UberEATS service. Points can be redeemed for Uber credits, gift cards or cash back.

Another perk: There is a $0 annual fee with this card. And there’s a terrific sign-up bonus – Earn $100 in Uber Cash after spending $500 on purchases in the first 90 days.

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  • Good disclosure: they tell you what you need to know
  • Simple introductory bonus
  • Impossible to know your interest rate until you apply

Key Information

Purchase interest rate : 17.24% - 27.99% Variable

Annual fee :$0

Sign-on bonus : Earn $100 in Uber Cash after spending $500 on purchases in the first 90 days.

Intro purchase APR : None

Intro balance transfer : None

BT fee : Either $10 or 3% of the amount of each transfer, whichever is greater.

Tip: Use this card for all dining, hotel and airfare purchases to maximize your rewards at the higher rate.

FULL REVIEW 

Check out other dining cards.

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

Best Travel Credit Cards

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

Best Credit Cards for U.S. Travel

Bank of America® Travel Rewards Credit Card

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

Bank of America® Travel Rewards Credit Card

With this card, you Earn unlimited 1.5 points per $1 spent on all purchases. There are no restrictions and no blackout dates. Every 100 points can be redeemed for $1 worth of travel. The rewards get even better if you have “Preferred Rewards” at Bank of America®. If you’re a Preferred Rewards member, you could increase your points earned with a bonus of 25% – 75%.

There is a $0 annual fee and no foreign transaction fees. You can use your points for a wide range of travel options, including flights, hotels, vacation packages, cruises, rental cars and even pesky baggage fees.

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

Key Information

Credit Score Required : Excellent/Good

Purchase Interest Rate : 16.49% - 24.49% Variable APR

Annual Fee : $0

Sign-on Bonus : 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases

Intro Purchase APR : 0% Introductory APR on purchases for 12 billing cycles

Intro Balance Transfer Offer : None

BT Fee : Either $10 or 3% of the amount of each transaction, whichever is greater.

Tip: The Preferred Rewards program offers excellent rewards. If you rollover your old 401(k) or IRA to Merrill, you can earn 25%-75% more points on every purchase and ATM fee reimbursement with a Bank of America checking account.

Best Credit Cards for International Travel

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

Platinum Rewards MasterCard® from First Tech FCU

No Annual or Foreign Transaction Fee + Chip and Pin Functionality

Platinum Rewards MasterCard® from First Tech FCU

This card is a great companion for overseas travel with a $0 annual fee or foreign transaction fee. Even better, the card offers chip and pin functionality. Most major credit card issuers in America have rolled out chip and signature, which can be problematic overseas. If you try to use your card at a ticket machine or with a waiter’s portable payment device, you have a good chance of being rejected.

It’s easy to join the credit union —membership is free if you work for a sponsor technology company, work for the state of Oregon or live in Lane County, Oregon. Otherwise, you just need to join the Financial Fitness Association with a one-time fee of $8. There is a sub-par rewards program: 1 point for every $1 you spend.

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  • $0 annual fee or foreign transaction fees
  • You have to be a member of the credit union

Key Information

Credit Score Required : Good

Purchase Interest Rate : 11.99% to 18.00% Variable

Annual Fee : $0

Sign-on Bonus : Earn 10,000 Rewards Points when you spend $2,000 in your first two months

Intro Purchase APR : N/A

Intro Balance Transfer APR : Introductory 0.00% APR balance transfer for 12 months

BT Fee : No balance transfer fee

Tip: Use this card for foreign travel, not for rewards since you earn a very low rate.

Capital One® QuicksilverOne® Cash Rewards Credit Card

Best Foreign Travel for Fair Credit

Capital One® QuicksilverOne® Cash Rewards Credit Card

This card is designed for people with Fair/Limited credit. If you have defaulted on a loan in the past five years (but not more than once), or if you have had limited credit history (at least one account for less than three years), you would be considered “average.” With this card, you can earn unlimited 1.5% Cash Back on every purchase, every day. There is also no foreign transaction fee, but be aware of the $39 annual fee.

You can use this card to build your credit score by keeping your utilization low (ideally below 20%) and make your payments on time and in full every month. Capital One® provides free access to your FICO® score so you can track your score and see when you are eligible for an upgrade to a no-fee card.

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

Key Information

Credit Score Required : Fair/Limited

Purchase Interest Rate : 26.99% (Variable)

Annual Fee : $39

Sign-on Bonus : None

Intro Purchase APR : None

Intro Balance Transfer Offer : None

BT Fee : None

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

APPLY NOW Secured

on Capital One’s website

FULL REVIEW 
How to Use

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

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

Best Balance Transfer Credit Cards

With a balance transfer credit card, you can transfer debt from a high interest rate credit card to a 0% introductory promotional rate. You can find no fee balance transfers for up to 15 months. If you are willing to pay a fee, you can find a card that offers a 0% introductory rate on balance transfers for 18 or 21 months. The fee is usually worthwhile. If you want to do the calculation, you can use the calculator on our interactive tool.

Remember: You cannot transfer debt between two credit cards from the same bank.

Here are the best 0% balance transfer offers on the market today. All of these credit cards waive interest during the promotional period, which means there is no retroactive or deferred interest charge to worry about. However, if you fail to pay the balance off within the introductory period, interest will be assessed on the remaining balance.

Citi Simplicity® Card - No Late Fees Ever

0% intro APR on transfers for 21 months; 5% balance transfer fee

Citi Simplicity® Card - No Late Fees Ever

Citibank has a strong intro of 0% for 21 months on Balance Transfers. In addition, the Citi Simplicity® Card - No Late Fees Ever has some added benefits. There are no late fees, no penalty rate and no annual fee. Although you should always try to pay on time, it is nice that this card will not punish you for the occasional mistake. In addition to the balance transfer offer, you pay no interest on purchases for 21 months.

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  • No late fee, no penalty APR and a $0 annual fee
  • Interest is not deferred during the balance transfer period, which means if you do not pay off your balance by the end of the promo period, you will not be charged the interest that would have accrued during the deferral period.
  • There is a range of interest rates. You won’t know yours until you apply.

Key Information

Credit Score Required : Excellent/Good

Purchase Interest Rate : 14.74% - 24.74% (Variable)

Annual Fee : $0

Sign-on Bonus : None

Intro Purchase APR : 0% for 12 months on Purchases

Intro Balance Transfer Offer : 0% for 21 months on Balance Transfers

BT Fee : 5% of each balance transfer; $5 minimum

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

FULL REVIEW 

Chase Slate®

No Fee – introductory 0% on transfers for 15 months

Chase Slate®

With the Chase Slate® credit card you can enjoy an introductory balance transfer offer of 0% Intro APR on Balance Transfers for 15 months and pay an Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater. The intro $0 transfer fee is a great way to save money when completing your transfer. In addition to the balance transfer offer, you pay 0% Intro APR on Balance Transfers for 15 months — great for those who want to pay off a large purchase over time without accruing interest.

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  • Interest is not deferred during the balance transfer period, which means if you do not pay off your balance by the end of the promo period, you will not be charged the interest that would have accrued during the deferral period.
  • Interest rate is not known until you apply.

Key Information

Credit Score Required : Excellent/Good

Purchase Interest Rate : 16.74% - 25.49% Variable APR

Annual Fee : $0

Sign-on Bonus : No bonus

Intro Purchase APR : 0% Intro APR on Purchases for 15 months; then 16.74% - 25.49% Variable APR

Intro Balance Transfer Offer : 0% Intro APR on Balance Transfers for 15 months; then 16.74% - 25.49% Variable APR

 

BT Fee : Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.

Tip: Compete your transfer within 60 days from account opening to take advantage of the intro $0 transfer fee.

FULL REVIEW 

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

Best Luxury Card

The Platinum Card® from American Express

Airline benefits, entertainment benefits, rewards and more

The Platinum Card® from American Express

The Platinum Card® from American Express is the best overall luxury card on the market, offering numerous benefits for cardholders. To name a few benefits, you can receive: up to $200 in annual savings on Uber rides, American Express Preferred Seating for select entertainment events, access to the American Express Global Lounge Collection with more than 1,000 airport lounges across 120 countries, a $200 airline fee credit per calendar year to cover baggage fees and more at one qualifying airline, and numerous other benefits.

The rewards program is great for frequent travelers — you get five Membership Rewards points per dollar spent on flights booked directly with airlines or with American Express Travel and five Membership Rewards points per dollar spent on eligible hotels booked on amextravel.com.

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  • Good disclosure: they tell you what you need to know
  • Simple introductory bonus
  • High annual fee

Key Information

Credit Score Required : Excellent/Good

Annual Fee : $550

Welcome Offer : 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.

Tip: To earn the most Membership Rewards points, be sure to purchase flights directly with airlines or with American Express Travel and book hotel stays directly on amextravel.com.

 

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on American Express’s secure website

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Best Low Rate Cards

If you’re someone who carries a balance month-to-month, a low rate credit card can be a great way for you to save money. Whether you want to complete a balance transfer, finance a large purchase, of simply have a low rate card in your wallet, there is a card for you. See below for our top picks.

How to Choose and Use a Low Rate Credit Card

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

How to Choose

Best Intro 0% APR Purchase Credit Cards

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

Citi® Diamond Preferred® Credit Card

0% intro on Purchases for 18 Months

Citi® Diamond Preferred® Credit Card

If you are looking to finance a purchase, Citi offers a long introductory APR on purchases: 0%* for 18 months on Purchases* after opening the credit card. This is a fantastic length of time for you to pay off your balance. Additionally, the Citi® Diamond Preferred® Credit Card has an intro 0%* for 18 months on Balance Transfers*. There is also a $0* annual fee and the ability to choose your payment due date from any available due date in the beginning, middle or end of the month. After the intro period ends, the APR is 15.74% to 25.74%* (Variable).

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  • Interest is not deferred during the balance transfer period, which means if you do not pay off your balance by the end of the promo period, you will not be charged the interest that would have accrued during the deferral period.
  • Interest rate is not known until you apply.

Key Information

Credit Score Required :Excellent/Good

Purchase Interest Rate : 15.74% to 25.74%* (Variable)

Annual Fee : $0*

Sign-on Bonus : None

Intro Purchase APR : 0%* for 18 months on Purchases*

Intro Balance Transfer Offer : 0%* for 18 months on Balance Transfers*

BT Fee : 5% of each balance transfer; $5 minimum.

Tip: The 18 months starts from when you open the credit card, not when you make the purchase. So make sure you time your application with your planned purchase.

FULL REVIEW 

TruWest Visa® Signature Card

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

TruWest Visa® Signature Card

TruWest is a credit union with restricted membership. Unfortunately, you need to live in certain regions of Texas or Arizona, or work for a few select employers to join. You can learn about membership eligibility here. If you are able to join, you will find a long 0% introductory APR for 18 months period on both purchases and balance transfers (8.40%-9.40% Variable APR, after). Even better, the credit card has reasonable credit union interest rates after the promotional period ends. There is no annual fee on the card.

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  • Interest is not deferred during the balance transfer period, which means if you do not pay off your balance by the end of the promo period, you will not be charged the interest that would have accrued during the deferral period.
  • There is a range of interest rates. You won’t know yours until you apply.

Key Information

Credit Score Required : Excellent/Good

Regular Purchase & Balance Transfer APR : 8.40%-9.40% Variable

Annual Fee : $0

Sign-on Bonus : Earn $100 when you spend $100 in the first 90 days

Intro Purchase APR : 0% introductory APR for 18 months

Intro Balance Transfer Offer : 0% introductory APR for 18 months

BT Fee : 3% of the amount of each balance transfer.

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

Best Low Interest Credit Cards

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

Visa® Titanium Signature Rewards Card from Andrews Federal CU

As Low as 8.49% Variable APR from a Credit Union Anyone Can Join

Visa® Titanium Signature Rewards Card from Andrews Federal CU

The Visa® Titanium Signature Rewards Card from Andrews Federal CU has the lowest ongoing APR on our list at 8.49% 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 also a good option if you have existing debt on a credit card because you can transfer it during the balance transfer N/A.

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  • There is a range of interest rates. You won’t know yours until you apply.
  • You have to join the credit union, but membership is open to all. Click here to check for eligibility.

Key Information

Credit Score Required : Excellent/Good

Purchase Interest Rate : 8.49% Variable

Annual Fee : $0

Sign-on Bonus : None

Intro Purchase APR : None

Intro Balance Transfer Offer : None

BT Fee : 1.50% of the transfer amount or $50; whichever is greater

Tip: You need to have an excellent credit score in order to qualify for the lowest interest rate.

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

How to Use

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

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

Best Cards to Help Build or Rebuild Your Credit Score

If you’re someone who is new to credit or has poor credit history, there are credit cards designed for you. These cards are a great way to begin your credit journey, or to improve your credit score. See below for our top picks.

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

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

How to Choose

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

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

Best Secured Credit Cards if You Have Bad or No Credit

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

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

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

Discover it® Secured

This is our favorite secured credit card. You will get free access to your credit score. In order to open the card, you will need to deposit at least $200, depending upon your creditworthiness. If you have previously filed bankruptcy, you still have the chance to be approved. With this secured credit card, you will earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.

Our favorite part of this card is the automatic monthly reviews starting at 8 months to see if you can be transitioned to an unsecured card. If you qualify, you will be graduated (and get your deposit back).

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  • No annual fee
  • Free FICO® credit score

Key Information

Credit Score Required :

Sign-on Bonus : Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically (new cardmembers only).

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

Rate Advantage Secured Visa Credit Card by Coastal FCU

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

Rate Advantage Secured Visa Credit Card by Coastal FCU

This card has no annual fee, and you only need to deposit $100 in a Collateral Savings Account to get started. If you’re not a member of Coastal Credit Union, you can join the North Carolina Sustainable Energy Association for $18, which is deducted from your initial deposit, and become a member. So you’ll need $118 to get started. While the initial deposit is lower than the Discover it® Secured, you lose out on the rewards. This card takes more work to open, since it involves joining a credit union, but anyone can apply.

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

Key Information

Credit Score Required : Anyone can apply

Purchase Interest Rate : as low as 17.50% Variable

Annual Fee : $0

Sign-on Bonus : None

Intro Purchase APR : None

Intro Balance Transfer Offer : None

BT Fee : $5 or 3%, whichever is greater

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

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

Best Credit Cards if You Have Fair Credit

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

Here are some good cards for people with fair credit:

Capital One® QuicksilverOne® Cash Rewards Credit Card

1.5% Cash Back on every purchase, every day for People with Average Credit – with $39 Annual Fee

Capital One® QuicksilverOne® Cash Rewards Credit Card

Capital One® has created a credit card specifically for people with Fair/Limited credit. If you have defaulted on a loan (but not more than one) in the last five years, or you have limited credit history (at least one account for less than three years), you would meet the definition of average credit. With this card, you will earn unlimited 1.5% Cash Back on every purchase, every day
with no limit on how much you can earn, and no changing categories.

Transparency Score 30
Transparency Score
  • Interest is not deferred during the balance transfer period, which means if you do not pay off your balance by the end of the promo period, you will not be charged the interest that would have accrued during the deferral period.
  • There is an annual fee

Key Information

Credit Score Required : Fair/Limited

Purchase Interest Rate : 26.99% (Variable)

Annual Fee : $39

Sign-on Bonus : None

Intro Purchase APR : None

Intro Balance Transfer Offer : None

BT Fee : None

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

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

How to Use It

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

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

A Special Note: Beware Predatory Companies

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

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

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

Other Benefits of Using a Credit Card

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

Available on Most Credit Cards

  • $0 Liability on Fraudulent Activity: Credit cards are the best way to protect yourself from fraud. So long as you report the fraud to your credit card company, you will not be liable for any losses on any major credit card.
  • Car Rental Collision Insurance: If you waive collision coverage when renting a car, your credit card may provide secondary coverage of $50K or more.

Available on Some Credit Cards

  • Retail Purchase Protection: Protects you from loss, theft, fire or accidental damage for a limited period of time after your purchase has been made. Not all cards protect you from loss, so look it up in the Purchase Protection Coverage Description Document.
  • Price Protection: If you buy something in stores and you see an advertised price, you will receive the difference between the two prices.
  • Extended Warranties: Duplicates both manufacturers and store warranties for a limited length of time and for limited dollar values (varies by card).
  • Travel Accident Coverage: If you are injured during travel, and you purchased the tickets via credit card, your company fully insures you.
  • Lost Luggage Coverage: You can receive compensation for lost, stolen or damaged luggage if you purchased flight or travel tickets using your credit card.
  • Trip Interruption Cancellation Coverage: If travel delays keep you from completing a trip, and you purchased the tickets on your credit card, the full value of the tickets will be refunded
  • Concierge Services: Certain cards offer free access to local concierge services that can help you make dinner reservations, purchase event tickets, and locate items while you are abroad.

Should You Get a Credit Card?

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

There are two big risks associated with swiping plastic:

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

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

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

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

Which type of card is best for you?

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

Just remember this critical rule when selecting a credit card:

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

The information related to The Amex EveryDay® Credit Card from American Express, Citi® Double Cash Card – 18 month BT offer, Bank of America® Travel Rewards Credit Card, Citi Simplicity® Card - No Late Fees Ever, Chase Slate® and Citi® Diamond Preferred® Credit Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

FAQ

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

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

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

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

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

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

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Best of, Credit Cards

Best Credit Cards for Good Credit April 2020

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

If you’re someone with good credit you should be able to qualify for a variety of credit cards. There are cards if you want to earn cash back, earn travel rewards or complete a balance transfer. MagnifyMoney has reviewed our database of over 2,000 credit cards to find cards you can qualify for with good credit. Here are our favorite cards for people with good credit.

Best cash back credit cards for good credit

Cash back credit cards can be great tools to boost your financial position. They basically make your life just a few percentage points cheaper — who wouldn’t want that?

Watch out for the pitfalls with these rewards cards, though. Don’t talk yourself into spending more because you’ll receive cash back. If you opt for a cash back card that offers you up to 5X more points on certain categories, make sure you understand that you often have to activate the bonus categories and set up reminders for yourself if necessary.

Citi® Double Cash Card – 18 month BT offer

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The information related to Citi® Double Cash Card – 18 month BT offer has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Citi® Double Cash Card – 18 month BT offer

Annual fee
$0
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.
Regular Purchase APR
13.99% – 23.99% (Variable)
Credit required
good-credit
Excellent/Good

Magnify Glass Pros

  • High flat-rate cash back You earn one of the highest flat-rate cash back amounts of any card on the market. This allows you to enjoy high rewards on all your purchases.
  • Simple cash back rewards Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay. No need to deal with changing categories or activation.
  • First late fee waived You won’t have to pay your first late fee. Instead, if you are tardy, use it as a reminder to sign up for autopay.

Cons Cons

  • Must pay in full to earn the full reward The only way to enjoy the 2% cash back is to pay your bill in full. This is a great incentive to pay your bill on time so you earn rewards faster.
  • 3% foreign transaction fee This is one card to leave home if you travel abroad a lot — but it’s great as long as you stay within the United States. The foreign transaction fee will negate any cash back you earn from purchases made abroad.
Bottom line

Bottom line

This is one of the highest flat-rate cash back rewards credit cards on the market. It’s a great choice for those who want peace of mind that they’re getting good rewards without fussing with variable rewards categories.

Read our full review of the Citi® Double Cash Card – 18 month BT offer

Discover it® Cash Back

Magnify Glass Pros

  • Up to 5% cash back in rotating categories You will earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. All other purchases will earn unlimited 1% cash back automatically.
  • Cash back match your first year 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. This is a great additional bonus for new cardholders that will significantly increase your cash back.
  • No foreign transaction fee Bring your card with you on your adventures abroad. It won’t cost you anything extra.
  • Free FICO® score Your FICO® score is the most common credit score used by creditors, and getting your official score helps you keep tabs on your good credit. Monitoring your score can also help alert you of any fraudulent activity on your card.

Cons Cons

  • You need to opt in for bonus categories Bonus rewards aren’t automatic; you’ll need to remember to log in and manually activate them each quarter. Set a reminder on your phone so you don’t forget.
  • $1,500 quarterly cap on spending eligible for 5% cash back rewards After you hit the quarterly spend, purchases in the 5% category will earn 1% cash back.
Bottom line

Bottom line

The Discover it® Cash Back offers great rewards-earning potential making this card a good way to earn rewards. Just remember to opt in to the quarterly-changing cash back programs.

Read our full review of the Discover it® Cash Back

Also ConsiderAlso Consider

Visa® Platinum Rewards Credit Card from Nusenda Credit Union

Visa® Platinum Rewards Credit Card from Nusenda Credit Union

This card is a great choice for forgetful people who want cash back rewards. It’s one of the only cards offering revolving categories each quarter that you don’t have to opt in for; you will get these rewards automatically. This card would also be a great choice for those who want cash back rewards and don’t mind working with a credit union.

Best for big spenders in gas

Commuting can be a huge cost, especially if you live far away from your work and don’t use public transportation. If you spend a lot of money on gas each month, consider getting a cash back rewards card that gives you higher rates of return for these purchases. It’s like having an instant coupon for gas with you all the time.

Platinum Visa® from Abound Credit Union

Platinum Visa® from Abound Credit Union

Annual fee
$0
Rewards Rate
Unlimited 5% cash rewards for gas and 1% cash rewards for other eligible purchases.
Regular Purchase APR
10.75% - 18.00% Variable
Credit required
good-credit
Good

Magnify Glass Pros

  • 5% cash back rewards on gas This is one of the best cash back rewards rates we’ve seen on any card. It does not change quarterly like with most cash back rewards — you will always earn cash back rewards at this rate.
  • Fair APR If you need to carry a balance from month to month, rest assured: This card comes with a fair interest rate. Although we recommend paying each statement in full, this card can be a good option if you qualify for the lowest APR.
  • No annual fee All these great rewards come with no annual fee. If you pay off your bill in full each month to avoid interest charges, it’ll essentially be free money.

Cons Cons

  • 1% foreign transaction fee This is a great card to have on hand for road trips, but be aware that if you cross the border, your net cash back rewards will be reduced.
  • Credit union membership required You don’t need to be a member to apply for the card; however, if you are approved, you’ll need to open and fund a savings account with a minimum of $5.
Bottom line

Bottom line

This card offers great value for big spenders in gas. If you frequent the pump, this card can earn you a nice cash back rate. This card offers other great features such as no annual fee and a fair interest rate. If you don’t mind working with a credit union, this card can benefit your needs.

Best for big spenders at U.S. supermarkets

Groceries can be one of your biggest budget-busters, especially if you have a large family, a specialized diet, or live in certain parts of the country. The good news is there are certain credit cards that offer great rewards for grocery purchases at supermarkets. Here’s our top pick for a credit card to maximize your cash back rewards at U.S. supermarkets.

Blue Cash Preferred® Card from American Express

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Blue Cash Preferred® Card from American Express

Regular Purchase APR
12.99%-23.99% Variable
Intro Purchase APR
0% on purchases for 12 months
Intro BT APR
0% on balance transfers 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%). 6% Cash Back on select U.S. streaming subscriptions and 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

Magnify Glass Pros

  • Intro 0% on purchases for 12 months (after that, a 12.99%-23.99% Variable APR applies) This can come in handy if you make a purchase and can’t pay it off immediately.
  • 6% cash back at U.S. supermarkets You’ll earn a whopping 6% cash back on U.S. supermarket purchases — the highest level of cash back rewards we’ve heard of. Sadly, you’ll only earn this much on the first $6,000 worth of purchases each year. Remaining purchases will still earn 1% cash back.
  • 6% cash back on select U.S. streaming services
  • 3% cash back at U.S. gas stations and transit There’s no limit to the amount of cash back rewards you can earn at U.S. gas stations and on transit including taxis/rideshare, parking, tolls, trains, and buses. That means you can enjoy the higher cash back rate all year long.

Cons Cons

  • $95 annual fee This card charges an annual fee, but it will still be worth the fee if you spend at least $1,583 at U.S. supermarkets or $3,166 in gas each year.
  • Foreign transaction fee of 2.7% of each transaction after conversion to US dollars. If you use your card outside of the country, it’ll cost you unless you’re buying gas or groceries — then you’ll either be just about breaking even or earning 3.3% cash back rewards on groceries. It’s best to leave this card at home if you travel abroad.
Bottom line

Bottom line

This card offers a fantastic cash back rewards program for grocery spenders. By using this card for grocery purchases, you will see the most rewards. Although it carries a $95 annual fee, this card will easily pay for itself with big spenders in groceries.

Best travel rewards credit card for good credit

Travel can seem like a pipe dream to a lot of people. Even if you do have the cash, it still stings to see that much hard-earned money leaving your bank account. But with a travel rewards credit card, you can have a sort of de facto savings account specifically for travel. And with a sign-on bonus like the one for our top pick, you can be jet-setting somewhere fun and interesting as soon as a few months from now.

 Chase Sapphire Preferred® Card

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

Chase Sapphire Preferred® Card

Annual fee
$95
Rewards Rate
2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide
Regular Purchase APR
15.99% - 22.99% Variable
Credit required
good-credit
Excellent

Magnify Glass Pros

  • Rewards are worth more when redeemed for travel You will receive 25% more value on points that are redeemed for travel via Chase Ultimate Rewards®. This raises the effective rate of rewards to 1.25 and 2.5 points.
  • Higher rewards for dining and travel You’ll earn 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide. This is great for travelers and foodies.
  • 1:1 point transfer to frequent flyer programs You can transfer points to partner frequent flyer programs at a 1:1 ratio. This is a great way to accumulate points faster at your favorite airline.
  • Travel protections This card comes with trip cancellation/interruption insurance, travel and emergency assistance services, auto rental collision damage waiver and more. These features add a layer of protection when traveling abroad.

Cons Cons

  • Points are worth slightly less when transferred to partners You’ll miss out on 25% more value if you transfer points to travel partners like airlines and hotels. The points will still transfer on a 1-to-1 basis, but they won’t be worth as much as using the Chase Rewards portal.
  • Annual fee There is a $95 annual fee, which is typical of travel rewards cards. However, if you spend enough on this card, you will come out ahead.
Bottom line

Bottom line

This card is the gold standard for frequent travelers. The Chase Ultimate Rewards portal helps you maximize your rewards even further and get you closer to covering the cost of a flight or hotel stay using rewards. If you’re a frequent traveler, this card will earn you a great rate.

Best airline credit cards for good credit

One of the biggest travel expenses is airfare. Even if you don’t have specific goals to travel regularly, surprises like cross-country family emergencies or get-togethers can take a big bite out of your budget.

Before signing up for an airline-specific card, it’s helpful to know what airline options you have near you. Different airlines tend to congregate more in different parts of the country; you won’t see any Alaska Airlines planes if you live in Maine, for example.

Southwest Rapid Rewards® Plus Credit Card

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

Southwest Rapid Rewards® Plus Credit Card

Annual fee
$69
Rewards Rate
2 points per $1 spent on Southwest® purchases and Rapid Rewards® hotel and car rental partner purchases. 1 point per $1 spent on all other purchases.
Regular Purchase APR
15.99% - 22.99% Variable
Credit required
fair-credit
Excellent/Good

Magnify Glass Pros

  • Flexible points redemption options You can use your points to book hotel stays and car rentals and to buy gift cards or merchandise.
  • 3,000 bonus points every year You’ll get a bonus 3,000 points tacked onto your account each year on your card’s anniversary. This is a great added bonus that makes this card exceptional.
  • Travel protections This card comes with lost luggage reimbursement, baggage delay insurance, travel accident insurance, auto rental collision damage waiver and more. These features add a layer of protection when traveling abroad.

Cons Cons

  • $69 annual fee Many travel credit cards will waive their annual fee for the first year — but not this one. Otherwise, the $69 annual fee is typical and if this is your go-to card, the rewards you earn can likely outweigh the fee.
  • Foreign transaction fee This card charges 3% of each transaction in U.S. dollars for purchases made abroad. It’s ironic that a travel card would include this fee. If you can, leave this one at home if you travel outside of the country. Also consider other airline cards that don’t charge a foreign transaction fee.
Bottom line

Bottom line

We recommend this card for people who frequently fly on Southwest Airlines and want to earn a higher rewards rate on those purchases. This card will allow you to earn more points on Southwest flights that will allow you to maximize your rewards. If you don’t fly Southwest and often fly abroad, this card isn’t for you.

Best for United frequent flyers

UnitedSM Explorer Card

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

UnitedSM Explorer Card

Annual fee
$0 Intro for First Year, then $95
Rewards Rate
Earn 2 miles per $1 spent at restaurants, on hotel stays and on purchases from United. 1 mile per $1 spent on all other purchases
Regular Purchase APR
16.49% to 23.49% Variable

Magnify Glass Pros

  • Priority boarding Snag your seat before everyone else and avoid the rush to get on the plane.
  • Free checked bag You and one companion traveling on the same reservation will each receive their first standard checked bag free.
  • Hotel benefits This card comes with luxury hotel and resort collection privileges including room upgrades, complimentary daily breakfast for two, early check-in, late checkout and other amenities at more than 900 luxury hotels and resorts worldwide.
  • Travel protections This card comes with lost luggage reimbursement, baggage delay insurance, travel accident insurance, auto rental collision damage waiver, trip delay reimbursement, trip cancellation/interruption insurance and more. These features add peace of mind when traveling.

Cons Cons

  • Annual fee of $0 intro for first year, then $95 Many travel credit cards will waive their annual fee for the first year — including this one. After that first year, the annual fee kicks in. However, the annual fee amount is typical and the rewards you earn can outweigh the annual fee.
  • Limited Star Alliance partners You can only use your points to book travel on United Airlines or their partners in the Star Alliance, including such airlines as Lufthansa and Air China. This is a negative if you don’t travel on any of these airlines.
Bottom line

Bottom line

This card offers a good rewards program for United Airlines flyers. You will enjoy more miles on United purchases and will also get nice perks that make flying less stressful. We recommend this card if you’re a frequent United Airlines traveler.

Best for American Airlines frequent flyers

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

The information related to Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard® has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

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

Annual fee
$99, waived for first 12 months*
Rewards Rate
Earn 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases*
Regular Purchase APR
17.74% - 25.74%* (Variable)
Credit required
excellent-credit
Excellent/Good

Magnify Glass Pros

  • Cheaper mile redemptions You’ll pay up to 7,500 fewer miles to fly to certain destinations with American Airlines. This can help you maximize your miles.
  • First checked bag free You won’t have to leave the things you really want to bring at home in order to save money. First checked bag is free on domestic American Airlines itineraries for you and up to four companions traveling with you on the same reservation.
  • Discount on in-flight purchases You can save money when dining on American Airlines flights. Receive a 25% savings on eligible in-flight food and beverage purchases when you use your card on American Airlines flights.
  • Earn a $125 American Airlines Flight Discount You can earn this discount by spending $20,000 or more on purchases using this card each card membership year.

Cons Cons

  • Limited “oneworld” partner airlines You can only book travel on American Airlines or their partner airlines in the “oneworld alliance.” Other member airlines include British Airways and Qantas, for example.
Bottom line

Bottom line

This card offers solid benefits and ways to maximize your mile earnings. It’s an important card in any traveler’s wallet and can be a great benefit to frequent American Airlines flyers. Take advantage of the cheaper miles redemption to maximize your miles.

Delta SkyMiles® Gold American Express Card

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Delta SkyMiles® Gold American Express Card

Annual fee
$0 introductory annual fee for the first year, then $99.
Rewards Rate
Earn 2X Miles on Delta purchases, at restaurants worldwide and at U.S. supermarkets and 1X Mile on all other eligible purchases.
Regular Purchase APR
15.74%-24.74% Variable

Magnify Glass Pros

  • Free checked bag Save money and hassle by bringing all the stuff you need with you on your travels in a free checked bag.
  • Priority boarding Be the first on the plane so you don’t have to worry about luggage space or a long line.
  • No foreign transaction fee This card does not charge a fee for purchases made abroad. That means you can fly outside of the U.S. and not be charged additional fees like most other cards.
  • Discounts on Delta purchases You will enjoy several discounts when flying Delta. Receive a 20% savings in the form of a statement credit after you use your card on eligible Delta in-flight purchases of food, beverages, and audio headsets.
  • Travel protections This card comes with Global Assist Hotline, car rental loss and damage insurance, and more. These features are a great way to have an added layer of safety when traveling.

Cons Cons

  • Limited SkyTeam partner airlines You can also use your Delta miles to book travel within the SkyTeam Alliance, a relatively limited network with other members like Air France and Aeroméxico.
Bottom line

Bottom line

This card offers great benefits for those who fly Delta. You will enjoy a wide selection of benefits from priority boarding to in-flight savings that make traveling more comfortable and cheaper. We recommend this card for frequent Delta flyers who want added discounts when they travel.

Best luxury credit card for good credit

Even though traveling is fun, it can still be a stressful experience. Between fighting throngs of crowds and cramming into airline seats, it can be enough to drive even the most ardent travel-lover insane sometimes.

The good news is you may avoid all of that with a luxury credit card. These credit cards could give you an across-the-board better travel experience, from the moment you arrive at the airport until you make it back home. Here is our top pick for a luxury credit card.

The Platinum Card® from American Express

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The Platinum Card® from American Express

Annual fee
$550
Rewards Rate
5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and 5X Membership Rewards® points on prepaid hotels booked on amextravel.com.
Credit required
good-credit
Excellent/Good

Magnify Glass Pros

  • Free access to over 1,200 airport lounges Get away from the crowds in premium airport lounges all over the globe. This is a great feature that will allow you time to decompress before or after flights.
  • $200 toward airline fees and incidental purchases each year Amex will refund you up to $200 in the form of a statement credit per year on purchases from a qualifying airline you select ahead of time. This includes things like meals, checked bag fees, and more.
  • Statement credit for Global Entry or TSA Precheck : Amex will refund you every four-and-a-half years for TSA Precheck ($85) or every four years for Global Entry ($100) fees. If you were thinking of using these services, it’s a great idea to take advantage of this rebate and enjoy a quicker check-in when flying.
  • Great rewards program Earn a fantastic rewards rate of 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and 5X Membership Rewards® points on prepaid hotels booked on amextravel.com. It’s more than double what many other travel cards offer.

Cons Cons

  • High $550 annual fee Luxury doesn’t come cheap. If you spend a lot on travel, though, this card can still pay for itself. Make sure this card is right for your needs.
Bottom line

Bottom line

This card is a stand-out favorite for globetrotting jet-setters who prefer a bit of comfort while traveling. Watch out for the $550 annual fee, though. If you spend a lot on travel each year, however, this card might actually save you money and will allow you to travel in luxury.

Best 0% Intro APR credit cards for good credit

If you really need to buy something moderately expensive but don’t have the cash for it yet, 0% Intro APR purchase cards can be a great way to go. They’re basically like free short-term loans. These cards are similar to 0% Intro balance transfer cards, but not all balance transfer cards also offer you the ability to make new purchases with the introductory APRs.

It’s recommended to only use these cards to buy things that you absolutely need rather than using them for a big splurge. These cards offer great opportunities to better your life, without the extra cost — if you can pay off the card before the promo period is over.

Capital One® Quicksilver® Cash Rewards Credit Card

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Capital One® Quicksilver® Cash Rewards Credit Card

Regular Purchase APR
15.49% - 25.49% (Variable)
Intro Purchase APR
0% intro on purchases for 15 months
Intro BT APR
0% intro on balance transfers for 15 months
Annual fee
$0
Rewards Rate
1.5% Cash Back on every purchase, every day
Balance Transfer Fee
3%

Magnify Glass Pros

  • Intro 0% APR for 15 months If you need to make a big purchase, you’ll appreciate the purchase APR offer of 0% intro on purchases for 15 months. After, a 15.49% - 25.49% (variable) APR applies. The card also offers 0% intro on balance transfers for 15 months. After, a 15.49% - 25.49% (variable) APR applies. The balance transfer fee is a reasonable 3%.
  • Good flat-rate rewards Earn 1.5% cash back on every purchase, every day.
  • Sign-up bonus One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening.
  • No annual fee and no foreign transaction fee The annual fee for this card is $0, so as long as you don’t carry a balance and incur interest charges, all the rewards you earn are net cash back in your wallet. And you can travel abroad knowing that the foreign transaction fee is none, so you won’t be charged an extra fee for each transaction you make.

Cons Cons

  • There are cards with higher rewards rates Though the Capital One® Quicksilver® Cash Rewards Credit Card offers a solid cashback rate, there are flat-rate cards that offer up to 2% cash back, and cards that offer up to 5% cash back in rotating quarterly categories.
Bottom line

Bottom line

With a strong 0% Intro APR offer on both purchases and balance transfers, as well as good ongoing rewards, the Capital One® Quicksilver® Cash Rewards Credit Card offers cardholders an excellent value.

Read our full review of the Capital One® Quicksilver® Cash Rewards Credit Card.

Citi Simplicity® Card - No Late Fees Ever

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The information related to Citi Simplicity® Card - No Late Fees Ever has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

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
14.74% - 24.74% (Variable)
Credit required
good-credit
Excellent/Good

Magnify Glass Pros

  • Intro 0% for 21 months on Balance Transfers Enjoy no interest charges for nearly two years in a row — that’s one of the longest 0% BT APR intro periods in the business. After the intro period, the APR goes to 14.74% - 24.74% (variable). The card also offers an intro APR of 0% for 12 months on purchases. After the intro period ends, the regular purchase APR is 14.74% - 24.74% (variable).
  • No late fees Citi offers one of the most unique benefits in the credit card world — no late fees. Of course, it isn’t a free pass; you still need to pay your bill on time or risk a huge credit score drop from the negative mark on your credit report.
  • Choose your bill due date To make it as easy as possible on your finances, you can choose your own due date. Get paid in the middle of the month? No problem. Prefer to pay it right away? Pay it at the beginning of the month.

Cons Cons

  • 3% foreign transaction fee If you’ll be traveling abroad, leave this card at home — otherwise it’ll end up making your trip 3% more expensive.
Bottom line

Bottom line

This is one of the longest 0% BT APR intro periods in the credit card market for balance transfers and offers a fantastic opportunity for those who need to finance a large purchase — as long as you pay it off before the period expires. Use this card as a means to rid yourself of high interest charges while you pay off your bills.

Read our full review of the Citi Simplicity® Card - No Late Fees Ever

Learn more

You don’t need a perfect credit score to qualify for most financial products. You’ll still get access to virtually all of the things an 850 credit score would unlock as long as you have a credit score of at least 760.

Good credit scores don’t happen by accident. Whether you deliberately aimed for your score or not, you have good financial management skills. However, this isn’t enough to guarantee your approval for a large number of financial products.

It’s actually possible to have a good credit score yet still be a high financial risk. For example, your credit score doesn’t take your salary into account. You could have a perfect credit score yet be unemployed with no income, in some cases.

When you apply for financial products, banks will look at your entire situation beyond just your credit score. Each bank will have their own approval criteria, and you might not pass one of them even if you have a good credit score.

Take heart, however; in general, you will be approved for most good financial products and services if you have a good credit score. But if the bank is very picky or something uncommon has happened to you (such as a recent job loss), it’s not surprising to be rejected.

Potential creditors don’t like to see a string of recent credit inquiries on your report because it might be a sign that you’re going on an out-of-control credit binge. Your score will be docked a few points per credit inquiry. This is a relatively small cut compared to more major transgressions like late payments and foreclosures, however.

When you have a poor credit score (600-648), you need every point you can get. The difference between a poor and a fair credit score is just 48 points; you need to do everything you can to gain those points and move up into the next bracket. Having a hard credit pull on your credit report will set you back even longer.

If you’ve got good credit, though, you don’t need to worry as much. You have 150 points between 700 and the maximum score of 850. That’s plenty of room to pay for small dings on your credit. You can have a hard inquiry on your credit report and still have a good credit score, unless you’re starting with a borderline good score of 700-705.

You’ve worked hard getting your score to this point, now how do you keep it there? Luckily, it’s not hard; basically, continue doing the good things you’re already doing.

Paying all of your statements on time and in full is one of the best things you can do to maintain your high credit score. A single late payment on your mortgage could set you back 60 points or more, downgrading you from good credit to average. Make sure all of your debt accounts are set up on autopay to avoid this potentially costly error.

Credit utilization (the percentage of available credit you’re using) is also one of the biggest factors in determining your credit score. The less available credit you’re using, the better. In general, a credit utilization ratio of 10% or less will boost your score the most. This means that you’ll have a credit card balance of $1,000 or less for each $10,000 of credit you have available to you.

A few minor factors will also boost your credit score, but not as much as having a good payment history and a low credit utilization ratio. Keep credit inquiries to a minimum. In order to avoid a slew of inquiries that will be reflected in your credit score, make sure companies use soft pulls if you need to shop around for the best interest rates.

Also consider keeping your oldest credit cards open and closing any newer ones you’re not using. This will increase your average credit age. In general, an average credit age of five years or more is considered best and will boost your credit score.

You don’t want to be juggling around a ton of cards you’re not using. Closing old cards sounds like a good idea until you consider one factor: It may ding your credit score.

Creditors like to see that you can effectively handle credit accounts over long periods of time. That’s why average credit age is one factor included in credit scoring models.

If you close out an old card, your average credit age might drop. This would cause a corresponding dip in your score. The effect wouldn’t be huge (not as large as a late payment, for example), but it could be there nonetheless, especially if your average credit age is five years or less (over five years is the optimal average credit age).

That’s why most experts recommend keeping your oldest credit card open. If you want to juggle fewer accounts, close any newer ones that you’re not using. Of course, if your oldest credit card charges an annual fee and you’re not using it, then go ahead and close it anyway. Paying an annual fee for a card you’re not using likely outweighs any benefits from keeping the card open for the sake of boosting your average credit age.

Furthermore, if you close your old credit card before you apply for a new card, it’s possible that your credit score will drop enough that your application will be rejected, especially if you have a borderline good credit score. In this case, it’s better to wait until after you’ve applied and been approved for the new credit card before closing your old card, if you decide to do so.

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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Best of, Credit Cards

Longest 0% Purchase Credit Card Offers From Banks & Credit Unions – April 2020

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

0% purchase credit card
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If you’re about to make a big purchase that you need time to pay off, using a 0% introductory purchase offer on a credit card could be the cheapest way to spread the payment out over time.

  • You can currently find 0% deals for as long as 18 months with no fees, but since rates after the intro period are high, only use these deals if you’re sure you can handle paying off the debt before the period is up.
  • When searching for 0% purchase cards, make sure you select a card that waives interest. Far too many cards, especially those offered by retailers only defer the interest which means you can get a nasty surprise when the intro period is up.

Below we list the longest 0% purchase credit cards broken up by length of 0% intro period from our database of over 3,000 credit card products from banks and credit unions:

18 Months 0% Intro APR

U.S. Bank Visa® Platinum Card

U.S. Bank Visa® Platinum Card

The U.S. Bank Visa® Platinum Card offers a long 0%* intro for 20 billing cycles on Purchases* for purchases and an 0%* intro for 20 billing cycles on Balance Transfers* (after, 13.99% - 23.99%* (Variable) APR). However, this card offers few other benefits. There is no rewards program, but there is cellphone protection that can reimburse you for damage or theft up to $600 (with a $25 deductible), for up to two claims ($1,200) per 12-month period when you pay your cellphone bill with your card.

TruWest Visa® Signature Card

TruWest Visa® Signature Card

The 0% introductory APR for 18 months on purchases and balance transfers for the TruWest Visa® Signature Card is one of the highest for a credit union. It also has a very low ongoing APR of 8.40%-9.40% Variable after the intro period ends. 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. You can earn 1 point per dollar spent, and up to 10 extra points per dollar spent by taking advantage of bonus point offers with the Get Extra Points Rewards Program. You can also earn up to 1.5% cash back with the trurewards program.

TruWest Visa Platinum Card

TruWest Visa Platinum Card

Another card from TruWest that offers a long intro period is the TruWest Visa Platinum Card, with 0% introductory APR for 18 months on purchases. Again, this card is only available to TruWest Credit Union members. This card has one of the lowest starting variable APR ranges at 6.45% - 20.45% Variable, which is beneficial for anyone who qualifies for the low rate and may carry a balance after the intro period ends (though we recommend paying off debt beforehand).

TruWest Platinum Points Visa Rewards Card

TruWest Platinum Points Visa Rewards Card

The TruWest Platinum Points Visa Rewards Card has a competitive 0% introductory APR for 18 months on all purchases and balance transfers. After the intro period, the purchase APR is 8.40% - 15.40% Variable. As with the other TruWest cards, this one is only available to members. You can benefit from a rewards program where you Automatically earn up to 1 point for every $1 you spend, and earn up to 10 extra points per dollar spent. Also, earn up to 1.5% cash back with the TruRewards program. However, this is a low rewards rate compared to other 0% intro purchase cards on this list.

Wells Fargo Platinum card

Wells Fargo Platinum card

The Wells Fargo Platinum card has a long period for you to pay off debt with an intro of 0% for 18 months on purchases and qualifying balance transfers. Following the intro period, the APR on purchases and balance transfers will be 15.49%-24.99% (Variable). Besides the promotional APR, this card is fairly basic. It does have one other notable perk: You can receive up to $600 of cellphone protection (subject to $25 deductible) against eligible reasons when you pay your monthly cellphone bill with your card.*

15 Months 0% Intro APR

The Amex EveryDay® Credit Card from American Express

The Amex EveryDay® Credit Card from American Express offers an intro 0% for 15 Months on purchases and balance transfers. After that, your APR will be 12.99%- 23.99% variable. This card is a great choice for people who want to take advantage of the 0% intro periods and earn rewards. With the cash back program, you can earn 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases.

Chase Freedom Unlimited®

Chase Freedom Unlimited®

The Chase Freedom Unlimited® provides a 0% Intro APR for 15 months
on purchases and a 0% Intro APR for 15 months on balance transfers — that is shorter than other flat-rate cash back cards in this list. After those 15 months, purchases are subject to a standard APR of 16.49% - 25.24% Variable. With the cash back program, you can earn a 1.5% cash back offer.

Chase Freedom®

Chase Freedom®

The Chase Freedom® offers a 0% Intro APR on Purchases for 15 months and a 0% Intro APR on Balance Transfers for 15 months. The card also offers a cash back program that is great for those looking to maximize cash back in bonus categories. You can 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. After the promotional period, the purchase APR is 16.49% - 25.24% Variable.

Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American Express

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The Blue Cash Everyday® Card from American Express offers an introductory 0% on balance transfers for 15 months on purchases and balance transfers. After that, your APR will be 12.99%-23.99% Variable. There is also a cash back program — earn 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.

PNC Core® Visa® Credit Card

PNC Core® Visa® Credit Card

The PNC Core® Visa® Credit Card is a basic card that offers Introductory 0% APR on purchases for the first 15 billing cycles following account opening, then 11.74%-21.74% Variable APR, based on your credit. There is no rewards program or noteable benefits. However, there is U.S.-based customer service available 7 days a week.

Truly Simple® Card from Fifth Third Bank

Truly Simple® Card from Fifth Third Bank

This card offers a decent 0% introductory APR for the first 15 billing cycles after your account is opened on both purchases and balance transfers, however this card is restricted to residents of Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Tennessee and West Virginia. There is also no penalty APR if you miss a payment. The standard APR of 13.99% - 24.99% Variable applies after the intro period ends.

BB&T Bright Credit Card

BB&T Bright Credit Card

The BB&T Bright Credit Card offers a good intro period from a community bank at 0% intro for 15 Months on purchases and balance transfers (12.74% - 21.74% Variable APR after). Note that this card is restricted to residents of Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, D.C. and West Virginia.

Visa® Platinum Preferred Rewards from APG FCU

Visa® Platinum Preferred Rewards from APG FCU

This card offers a competitive 0% intro APR on purchases and qualified balance transfers compared to other credit unions at 0% intro APR for 15 months (12.49% - 17.99% Variable APR after). To qualify for this card you need to live, work, worship, attend school, or volunteer in Harford or Cecil County or certain areas in Middle River, Maryland. There is a subpar rewards program where you can earn one point for every dollar spent on purchases.

KeyBank Latitude® Credit Card

KeyBank Latitude® Credit Card

The KeyBank Latitude® Credit Card has a decent intro period for purchases at 0.00% Introductory APR for the first 15 monthly billing cycles. It also has a decent intro period for balance transfers at 0.00% Introductory APR for the first 15 monthly billing cycles. After the intro period ends, 11.99% - 21.99% Variable APR applies based on creditworthiness. This card is restricted to people who live in Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont and Washington. There is no rewards program.

Chase Slate®

The Chase Slate® has a decent 0% Intro APR on Purchases for 15 months, then 16.74% - 25.49% Variable APR, but you can find other cards with longer periods, and/or rewards. This card is predominantly known for its balance transfer offer where you get 0% Intro APR on Balance Transfers for 15 months and an Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.

Deferred versus Waived Interest

Not all 0% offers are created equally. Some credit card companies offer “deferred” interest, whereas others off “waived” interest.

Let’s take a simple example. You spend $1,000 on a credit card with an APR of 18%. You will make payments of $75 every month. There is a special offer that gives you 0% interest for 12 months. On “Credit Card A” interest is deferred. On “Credit Card B” it is waived. After making 12 payments of $75, the remaining balance in month 13 would be $100.

Credit Card A: Deferred Interest

With a “deferred” interest offer, the bank does not forgive the monthly interest accrual. Instead, the bank just keeps track of the interest that would have accrued. If you do not pay the balance in full during the promotional period, you will get retroactively charged the interest at a high interest rate. In the example above, you would be charged approximately $117 in month 13. (I use “approximately” because credit card companies have slightly different ways of calculating and charging interest. But it is safe to assume that you would be charged more than $100 of interest on your remaining $100 balance.)

Credit Card B: Waived Interest

Waived interest is very different. For every month of the promotional period, the credit card company actually forgives the interest. There will never be a retroactive catch up after the promotional period ends. In our example, you would only be charged $3.26 of interest in month 13, compared to more than $100 in the deferred example.

Deferred interest products are surprisingly common. If you are being offered 0% financing by a retailer, you are probably being offered a deferred interest product.

How To Qualify For A 0% Purchase Credit Card

In order to qualify for a 0% intro purchase credit card, you will need to have good credit. If your credit score is above 700, you are highly likely to be approved by one of the issuers. If your score is between 650 and 700, you still have a good chance.

With a credit score below 650, it is highly unlikely that you would be approved, though you may want to check to see if you are pre-qualified for a card before applying. Many of the banks let you check to see what deals they are specifically targeting to you, and you can see a list of them here. Checking what you’re pre-qualified for won’t show up on your credit report or score.

In addition to your credit score, the credit card company will want to ensure that you are employed. And most credit card companies will look at your debt burden.

If your debt burden is more than 50%, it is unlikely that you will be approved.

The lower your debt burden, the better your chances. You calculate your debt burden by dividing the monthly payments on your credit report (which would include your mortgage, auto loans, student loans, personal loans and credit cards) by your monthly paycheck before taxes are taken out.

When Is A Personal Loan Better?

There is no lower interest rate than 0%. So, if you are able to use a 0% credit card to make a purchase, that is your best bet. However, there are a few circumstances where a personal loan might be a better option:

  • Your credit score is too low for a 0% offer. Personal loan companies are offering increasingly competitive interest rates, especially for people with lower credit scores.
  • You need to borrow money for a big cash expense. For example, you might need to pay a contractor who does not accept credit cards. If you need cash, a personal loan is always a better deal than a credit card.
  • You don’t trust yourself with credit cards. Some people feel nervous with credit cards. You might be tempted to spend more than you want. Or, you might be tempted to only pay the minimum due, extending the repayment term. A personal loan can be an easy way to borrow a set amount of money for a set period of time.

If you want to consider a personal loan, you can compare and apply using our personal loan comparison tool. You can check your interest rate and see if you are approved without hurting your credit score at most lenders.

The information related to Wells Fargo Platinum card, The Amex EveryDay® Credit Card from American Express, Chase Freedom Unlimited®, Chase Freedom® and Chase Slate® has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

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.