Advertiser Disclosure

Credit Cards

Uber Visa Card Review: Uber’s First Credit Card Offers a Lot for Millennials to Love

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements 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.

The rumors were true. Uber’s making the leap from the smartphone in your pocket to the wallet in, well, your other pocket.

The ride-hailing company has teamed up with Barclays, the credit card division of UK-based Barclays PLC, to launch what is shaping up to be an excellent no-fee rewards credit card for millennials, urbanites and business travelers alike. The new offering, dubbed the Uber Visa Card, will be available nationwide Nov. 2.

Uber’s first branded credit card lets cardholders earn 4% back on dining, 3% on hotels and airfare, 2% on online purchases including Uber, online shopping and video and music streaming services, and 1% on most everything else. Individually, the bonus categories are similar to those of a few existing no-fee cards with special category bonuses. But the Uber Visa Card’s 4-3-2-1 cashback rewards structure makes for a leading bonus category rewards credit card.

And that 4% cashback bonus makes the Uber Visa Card a leader in dining rewards.

Heavy Uber-app users need look no further for a cashback offering. However, to get the best bang for their buck, they should pair the Uber Visa Card with a flat-rate 2% cashback card such as the Citi® Double Cash Card – 18 month BT offer  (Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay) or PayPal Cashback Mastercard®.

Uber Visa Card

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
17.24% - 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.

Part I: Card benefits at a glance

The Uber Visa Card boasts an impressive 4-3-2-1 rewards program, as described above, in addition to other bonuses. But those aren’t the only perks this car packs. The company is clearly making a play for millennials, with unique benefits like account credits for digital subscription services (a la Netflix or Hulu) and mobile phone protection.

With its rewards package, the Uber Visa Card might could act as bait to convince some millennials to use credit more often. (Recent research shows the generation favors debit and cash for everyday purchases.)

Cashback rewards

The pros

The cons

  • Unlimited 4% cash back on dining and takeout.
  • Unlimited 3% on hotel and airfare
  • Unlimited 2% back on online purchases including Uber.
  • Unlimited 1% back on all other purchases.
  • No annual fee
  • No foreign transaction fees.
  • 10,000-point bonus, redeemable for $100 cash back, after you spend $500 or more in purchases within the first 90 days after opening an account.
  • Cardholders who spend $5,000 or more per year, are rewarded with a $50 credit to use on digital subscription services.
  • Cardholders who use the card to pay their phone bill each month also get up to $600 for mobile phone supplemental insurance.
  • Cardholders can only redeem up to $500 worth of points per day for Uber Credits and bank deposits.
  • Online limitations to those 2% cash-back rewards.
  • No interest-free balance transfer period.

High rewards for no fee

The Uber Visa Card grants consumers comparatively lucrative ongoing-bonus-category rewards for no annual fee, and the card charges no foreign transaction fees. That’s rare, even in a market where banks are spending more and more on credit rewards to attract consumers.

The card that comes closest to offering a similar level of bonus rewards is the Chase Sapphire Reserve®. It earns users an annual $300 travel credit, unlimited triple points on dining and travel, and 1% back on all other purchases. But it charges a hefty $450 annual fee.

If you don’t have an extra $450 in your budget but still want to earn big on dining and travel, the no-fee Uber Visa Card may be the better choice.

Chase Sapphire Reserve® altered one cardholder perk in January – the lucrative 100,000-point-bonus signup offer. After less than a year on the market, Chase cut back a 100,000-point Ultimate Rewards bonus after spending $4,000 within three months to just Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

An Uber spokesperson tells MagnifyMoney that the Uber Visa Card’s rewards are not temporary, and there are no plans afoot to change them.

It’s important to note the Chase Sapphire Reserve® does offer other traveler perks like up to $300 in statement credits for travel reimbursements per year, a $100 statement credit for applying for Global Entry or TSA PreCheck, and several travel protection benefits. If you use those perks, it may be worth it to you to pay the beefy annual fee for the Chase Sapphire Reserve®.

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.

4% cash back on dining

The Uber Visa Card awards a whopping 4% unlimited cash back on dining, which includes restaurants, cafes, bars and even takeout like UberEATS. The category’s cashback rate leads the industry, beating the AARP® Credit Card from Chase Bank and Costco Anywhere Visa® Card by Citi, which award only 3% cash back on dining.

The Uber Visa Card also beats the Chase Sapphire Reserve®‘s 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.

As mentioned, the Uber Visa Card awards 4% on takeout, too, and millennial cardholders may enjoy this perk the most. According to a recent Bankrate report, the average millennial dines out or orders in five times a week. The average member of the avocado toast generation spends about $233 on both dine in and take out meals, compared to just $182 a month for older generations. If a cardholder spends a weekly $233 on dining, he or she will earn about $9.32 a week, or $484.64 in cash back annually.

3% cash back on hotel and airfare

Cardholders earn 3% cash back on hotel and airfare purchases made using the Uber Visa Card. Another bonus for millennials: Cash back applies to vacation home rental services, like Airbnb.

According to travel website Hipmunk, nearly three-fourths of millennial travelers have used a vacation rental service like Airbnb while traveling for work, compared to only 38% of Gen-Y and 20% of Boomers. And, about 81% of millennial travelers said they would add extra time to business trip to make some room for leisure.

While the Uber Visa Card’s 3% offer on airfare and hotels is a good offer for the average frequent flyer, consumers can find the same deal with some other no-fee cards, like the AAA Member Rewards Visa, Chase Sapphire Reserve® and Costco Anywhere Visa® Card by Citi.

Beware: Although it offers the same amount of cash back on travel, the Chase Sapphire Reserve® technically beats out the Uber Visa Card when cardholders use their points for travel rewards.

With Uber, 1 point = $0.01, but if users redeem points using the Chase Ultimate Rewards® portal 1 point = $.015, so your points go about 50% further with Chase, allowing cardholders to purchase more with the same point value. Put another way: A 50,000-point bonus is really worth $750, instead of $500.

Up to $50 streaming credit bonus

Here’s a perk you won’t find on many rewards cards these days.

If a cardholder spends $5,000 or more in a cardmembership year — the 12 consecutive months following your account’s anniversary date — he or she stands to earn up to $50 for digital streaming purchases. Cardholders can earn the subscription credit each year.

The $50 credit is automatically applied as a statement credit for eligible digital subscription services once the cardholder meets the $5,000 spending threshold. If the cardholder hasn’t made $50 worth of eligible purchases by the time he/she spends $5,000, the result is a statement credit for any new eligible digital subscription services charged to the card up to $50.

Cardholders can track their progress toward the annual spending threshold on BarclaycardUS.com.

Up to $600 worth of mobile phone insurance coverage

When cardholders use their Uber Visa Card to pay for their monthly wireless bill, they receive up to $600 for mobile phone damage or theft for each phone listed on the wireless account. Coverage begins one month after the first bill was charged to the Uber Visa Card.

Depending on the kind of coverage a cardholder currently has through a carrier, those who take advantage of this perk could save a good chunk of money. Those under one of the four major carriers could see savings of $7 to $15 a month for a single device or up to $35 a month to cover up to three devices on one account.

There is a $25 deductible to use the protection. After that is paid, the protection covers up to $600 per claim on up to two claims in a 12-month period. If the phone has to be replaced, the protection awards the suggested retail value of the replacement phone, up to the $600 maximum per claim.

2% cash back on online purchases

The Uber Visa Card pays cardholders 2% cash back on online shopping, purchases made through Uber, video and music streaming services and online services like Instacart and TaskRabbit.

The cool thing about this perk is that cardholders can earn cash back on subscription services like Netflix, Amazon Prime and Spotify. Millennials, the leaders of the cord-cutting movement, will likely benefit by simply “setting and forgetting” their Uber Visa Card to pay for their favorite streaming services.

Update: Barclays sent cardholders an email Dec. 5 saying “using a third party payment method including PayPal, Venmo, Apple Pay, Samsung Pay, and Android Pay will now earn 2% back.” Take note: Using a credit card to make a person-to-person (P2P) transfer often carries a fee of about 3% of the transaction. Be sure to review the cards terms & conditions for details.

The 2% cash back on online purchases is good, but the bonus category offer isn’t a leading rate. Consumers who don’t do all their shopping online could benefit more from cashback options that earn double points on all purchases, not just those made online, like the Citi® Double Cash Card – 18 month BT offer, Fidelity® Rewards Visa Signature® Card, or PayPal Cashback Mastercard®.

1% cashback on all other purchases

The Uber Visa Card still rewards spending if you don’t purchase in one of the bonus categories,. The card rewards cardholders 1% back on all other purchases, so it’s a good go-to card for everyday purchases, in addition to bonus-category buys. The 1% offer isn’t very competitive, as there are many existing cards that offer 2% on all purchases, but it ensures cardholders earn at least a little something on everything they buy with the Uber Visa Card.

Part II: Applying for the Uber Visa Card

The Uber Visa Card opens for applications Nov. 2. Interested applicants can apply for the unsecured rewards card online or directly through the Uber phone app and see an approval within minutes. The in-app application may be more of a win for Uber than for millennials, but it makes the application process easy for anyone who already has the Uber app, so may appeal to digital natives, too.

Once the application is approved, the card is made available for use immediately on rides and UberEATS purchases made through the Uber application on the cardholder’s mobile device. Cardholders should receive a physical card in the mail within 1 – 2 weeks of approval.

What it takes to qualify

Borrowers with higher credit scores are more likely to qualify for the lower interest rates, while those with lower scores are likely to qualify for the higher APR. At this time, there is not a way for applicants to check to see if they prequalify.

This card is best for …

The Uber Visa Card is best for the regular Uber customer who dines out often, frequently travels for work, handles most shopping and bill paying online, and pays his/her balance in full each month. The unsecured rewards credit card’s features will likely hold the most appeal for traveling business people and city-dwelling millennials.

Consumers who spend heavily on dining, travel and online purchases would have the best shot at maximizing the Uber Visa Card’s rewards offers. However, the benefit is canceled out if a user carries a balance, thanks to a high interest charge on purchases.

Uber loyalists will benefit most from Uber app-centric perks like the ability to manage and redeem point using the app, and redeem rewards for Uber Credits for Uber rides and UberEATS.

Again, millennials may reap the greatest reward here as they more likely to use ride-hailing services like Uber on a regular basis. According to Pew Research, 7% of all 18- to 29-year-olds use ride-hailing on a daily or weekly basis; that figure rises to 10% among 18- to 29-year-olds living in urban areas.

Depending on how much an Uber app user spends and how often Uber gets used.

Those who aren’t frequent users of Uber’s app may benefit from earning cash back on spending in the card’s bonus categories, but may not realize as much value in the various app-centric perks.

Part III: Redeeming rewards

Cardholders can redeem cash back via Uber credits, gift cards, statement credit or direct deposit. Cardholders can start redeeming cash back for Uber credits once their cashback balance reaches $5, or 500 points.

As long as the account is active and in good standing, points never expire. The cashback balance must reach $25 before users can access it for gift cards, statement credit or direct deposit.

Cardholders are able to redeem rewards through the Uber app, online through the cardholder portal at BarclaycardUS.com, or by calling the customer service number on the back of the card. Cashback redemption is capped daily at $500.

If there are any authorized users on the card, they can earn and redeem points for gift cards and cash back, but not for Uber credits. Each cashback point is equivalent to $0.01 (2,500 points = $25).

How to redeem rewards for Uber credits in the Uber app

Uber lets cardholders directly manage the rewards points they’ve accumulated for Uber credits, gift cards or cash back through the Uber phone application. Users must first add the Uber Visa Card as a payment method.

Once the card is added, the user will tap on the Barclays mobile app menu to see a points balance. After tapping the points balance, the user should be prompted to select the amount to be redeemed.

Uber says the redemption should happen within seconds, but may take up to 24 hours to be applied to the account. The process is demonstrated in the GIF below.

Part IV: Pros and cons

What we like about the Uber Visa Card

No annual fee

The Uber Visa Card charges no annual fee, which is unusual for a card this loaded with rewards and bonuses. Cardholders can make the most of this no-fee rewards card if they charge only items that fall into the bonus rewards categories and pay the balance in full each month.

4-3-2-1 rewards perks

The Uber Visa Card awards holders a high return on most purchases. In addition, rewards are unlimited and never expire. The card’s 4-3-2-1 cashback rewards program is appealing.

No foreign transaction fee

Cardholders can swipe to pay for items and services overseas without incurring foreign transaction fees. The lack of this fee combines with the 3% travel rewards bonus category to make the Uber Visa Card a good travel companion. Purchases made overseas also earn cashback rewards.

Apply directly in the Uber app

Uber’s 40 million active riders won’t need to rush to a computer to apply for the Uber Visa Card once the application opens Nov. 2. They can simply apply through Uber’s phone application. Uber claims users will be able to submit an application and see a decision within minutes on the app. Users can also apply for the Uber Visa Card online.

Immediate access

Approved applications are granted access to the funds immediately. Users can add the card as a payment option in the Uber mobile application for immediate use on rides and UberEATS orders.

Immediate access comes in handy if an applicant is in need of the funds ASAP. But it’s unclear if cardholders will be able to use the card immediately on purchases outside the Uber app, too.

Exclusive access to events and offers

Uber Visa Card users will get exclusive invites to events and offers in select U.S. cities. Uber app users may already be familiar with this perk if they have checked out Uber’s Visa Locals Offers. Cardholders earn Uber credit when they visit participating stores and restaurants if they pay with a Visa card (like the Uber Visa Card). Uber’s banded credit card is a Visa, so cardholders can earn rewards — like 10% Uber rewards if you shop at Whole Foods — plus the regular purchase rewards if they use the Uber Visa Card at checkout.

What to watch out for with the Uber Visa Card

$500 daily redemption limit

Cardholders can only redeem up to $500 worth of points per day on Uber Credits and cash back for a bank deposit. This may prove problematic if one wants to use points to redeem more than $500 in cash back rewards via bank deposit. There is no daily limit for cash back as a statement credit or for gift cards.

2% cash back on online purchases

2% cashback on online purchases is good, but the bonus categories offer isn’t a leading rate in itself.

1% cashback on all other purchases

For all other purchases, 1% isn’t a very competitive offer.

No interest-free balance transfer period

The Uber Visa Card is not a good option for anyone looking to consolidate credit card debt using a balance transfer. Unlike with the Citi® Double Cash Card – 18 month BT offer, Uber Visa Card cardholders don’t pay 0% interest on balance transfers for a period. The card charges the greater of $10 or 3% of the transfer amount to transfer a balance, followed by the regular 16.24% – 24.99% variable APR the cardholder is charged on all other purchases.

Part V: Alternatives to the Uber Visa Card

Consumers who don’t use Uber, don’t dine out often, don’t travel much or don’t make most of their purchases online may not find the Uber Visa Card’s cashback offer very appealing. While they can still earn a flat 1% cash back on all purchases they won’t be able to benefit much from the card’s bonus categories. Using a flat-rate cashback card with a higher reward, or one that offers a high cashback bonus in a category they use more often, may be beneficial to those consumers.

Flat-rate cashback alternatives

A flat-rate cashback card like the leading Citi® Double Cash Card – 18 month BT offer and PayPal Cashback Mastercard® is a great option for anyone who wants to earn a reward on all purchases without thinking about bonus categories.

Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
15.74% - 25.74%* (Variable)
Annual fee
$0
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay

The Citi® Double Cash Card – 18 month BT offer is the second-highest no-fee flat-rate cashback credit card on the market. The card lets you Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay, totalling 2% cashback. It also offers an introductory 0% for 18 months on Balance Transfers* so it’s a good choice for those seeking to consolidate debt. Borrowers with Excellent, Good credit scores may be approved for the Citi® Double Cash Card – 18 month BT offer.

PayPal Cashback Mastercard®

Regular Purchase APR
22.24% - 29.24% Variable
Annual fee
$0
Rewards Rate
Get 2% cash back every day, every time you use your card.

Cardholders with a PayPal Cashback Mastercard® can

get 2% cash back every day, every time you use your card.

All for a $0 annual fee. The card charges slightly higher variable interest rates than the Uber Visa Card — 22.24% - 29.24% Variable — based on creditworthiness. Borrowers with fair, good or excellent credit scores may qualify for the PayPal Cashback Mastercard®.

Similar to the Uber Visa Card, those approved for the PayPal Cashback Mastercard® can use the card immediately to pay for purchases through PayPal’s online and mobile applications. Cash back can be redeemed to the cardholder’s PayPal balance. From there it can be sent to the user’s bank account or used to send money to peers or make purchases via PayPal.

Fidelity® Rewards Visa Signature® Card

Regular Purchase APR
16.24% Variable
Annual fee
$0
Rewards Rate
Unlimited 2% cash back on everyday purchases.

The Fidelity® Rewards Visa Signature® Card earns cardholders

unlimited 2% cash back on everyday purchases.

The annual fee is $0. The card is best for existing Fidelity customers, since the cashback earned has to be deposited into a Fidelity account.

Only borrowers with excellent credit should apply for this card. Fidelity also bases its credit limits on the total amount of assets it is managing on a consumer’s behalf, so those approved may still be disappointed in the limit they receive if they don’t have much money with Fidelity already.

Bonus category cashback alternative

The bonus categories the Uber Visa Card offers may not appeal to everyone hoping to earn cash back on the purchases they make most, therefore bonus category cashback cards can be a good alternative.

Best for supermarkets and fuel:

Blue Cash Everyday® Card from American Express

Regular Purchase APR
15.24%-26.24% 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.

The Blue Cash Everyday® Card from American Express is a good alternative for consumers who spend more money on grocery than dining and more running around IRL on gas than making online purchases. The card offers cardholders 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.
The card has a $0 annual fee. The card also awards new cardholders a $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

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.

Brittney Laryea
Brittney Laryea |

Brittney Laryea is a writer at MagnifyMoney. You can email Brittney at brittney@magnifymoney.com

TAGS: ,

Advertiser Disclosure

Credit Cards

Best Credit Card Sign-Up Bonus For February 2019

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements 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.

Lured into applying for a new rewards credit card with a generous sign-up bonus? Make sure you’re making the right choice.

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 three 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
18.24% - 25.24% 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: Hilton Honors American Express Ascend Card

Hilton Honors Ascend Card from American Express

APPLY NOW Secured

on American Express’s secure website

Hilton Honors Ascend Card from American Express

Regular Purchase APR
17.99%-26.99% Variable
Annual fee
$95
Rewards Rate
Earn 12X Hilton Honors Bonus Points for each dollar of eligible purchases charged on your Card directly with a hotel or resort within the Hilton Portfolio. Earn 6X Hilton Honors Bonus Points for each dollar of eligible purchases on your Card at U.S. restaurants, U.S. supermarkets, and U.S. gas stations. Earn 3X Hilton Honors Bonus Points for all other eligible purchases on your Card.
Credit required
good-credit
Excellent/Good

The welcome offer: Earn 125,000 Hilton Honors Bonus Points with the Hilton Honors American Express Ascend Card after you use your new Card to make $2,000 in eligible purchase within the first 3 months of Card Membership.

Other reasons to like this card:

  • Generous rewards: Earn 12X Hilton Honors Bonus Points for each dollar of eligible purchases charged on your Card directly with a hotel or resort within the Hilton Portfolio. Earn 6X Hilton Honors Bonus Points for each dollar of eligible purchases on your Card at U.S. restaurants, U.S. supermarkets, and U.S. gas stations. Earn 3X Hilton Honors Bonus Points for all other eligible purchases on your Card.
  • Elite Status: Get automatic Hilton Honors gold status with perks including 80% tier bonus points per hotel stay, automatic space-available room upgrade, guaranteed room discount, no resort fees on reward stays, early check-in and late check-out and fifth standard reward night free.
  • Nice perks: 10 Priority Pass™ Select airport lounge passes a year, car rental loss and damage insurance, travel accident insurance, Global Assist hotline, extended warranty, return/purchase protection and access to ticket presales and cardmember-only events.
  • Flexible redemption: Redeem points for hotel stays, room upgrades, travel and transportation, exclusive experiences, shopping, dining and donations.

Bottom Line: You get the biggest bang for your buck with the Hilton Honors American Express Ascend Card — with its $95 annual fee — if you’re a Hilton Honors member. The card’s generous welcome offer, paired with high points per dollar spent on hotels, dining, supermarkets and gas, are pretty attractive. And you can’t beat a card that comes with automatic gold status and some travel and purchase perks. This is a good card to use when traveling outside the U.S. since the foreign transaction fee is None.

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

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

APPLY NOW Secured

on Citi’s secure website

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

Regular Purchase APR
18.24% - 26.24%* (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 up to 50,000 American Airlines AAdvantage® bonus miles: 40,000 AAdvantage® miles after making $2,000 in purchases in first 3 months and 10,000 after making a total of $6,000 in purchases in first 12 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:

  • 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: Capital One® Savor® Cash Rewards Credit Card

Capital One® Savor® Cash Rewards Credit Card

APPLY NOW Secured

on Capital One’s secure website

Capital One® Savor® Cash Rewards Credit Card

Regular Purchase APR
16.74% - 25.74% (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
Credit required
good-credit
Excellent/Good

The sign-up bonus: Earn a one-time $500 cash bonus after you spend $3000 on purchases within the first 3 months from account opening.

Other reasons to like this card:

  • Good rewards: 4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases.
  • Broad category definitions. Dining includes restaurants, cafes, bars, lounges, fast-food chains and bakeries. Entertainment covers tickets for movies, plays, concerts, sporting events, tourist attractions, theme parks, aquariums, zoos, dance clubs, pool halls and bowling alleys. It also covers purchases at record and video rental stores.
  • No rotating cashback bonuses: No quarterly sign-ups are required to earn cash rewards. Cash back won’t expire as long as the card is active and there are no limits on how much cash back you can earn.
  • Fair perks. The card comes with travel assistance services, a concierge, extended warranty, price protection and a monthly membership to the Postmates delivery service through December 2019. The foreign transaction fee is None.

Bottom Line: This card is best for those who want to earn more cash back for dining and groceries. Outside of that, there are other cashback cards that offer better rewards in top spending categories. Entertainment rewards don’t include digital streaming and subscription services. The annual fee is $0 intro for first year; $95 after that.

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

Chase Sapphire Reserve®

LEARN MORE 

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
19.24% - 26.24% 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.

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
15.49% - 21.49% 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 also 0% for 12 Months on balance transfers. After the intro period ends, a 15.49% - 21.49% 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
18.24% - 23.24% 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 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 $.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.

Benét J. Wilson
Benét J. Wilson |

Benét J. Wilson is a writer at MagnifyMoney. You can email Benét J. at benet@magnifymoney.com

TAGS:

Advertiser Disclosure

Best of, Credit Cards

Longest 0% Purchase Credit Card Offers From Banks & Credit Unions – February 2019

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements 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.

0% purchase credit card
iStock

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 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

APPLY NOW Secured

on US Bank’s secure website


The U.S. Bank Visa® Platinum Card offers a long 0%* intro for 18 billing cycles on Purchases* for purchases and an 0%* intro for 18 billing cycles on Balance Transfers* (after, 14.74% - 25.74%* (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

APPLY NOW Secured

on TruWest Credit Union’s secure website


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 10.15%-11.15% 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

APPLY NOW Secured

on TruWest Credit Union’s secure website


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 8.20% - 22.20% 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

APPLY NOW Secured

on TruWest Credit Union’s secure website


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 10.15% - 17.15% Variablee. 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 Visa® Card

Wells Fargo Platinum Visa® Card

APPLY NOW Secured

on Wells Fargo Bank’s secure website


The Wells Fargo Platinum Visa® Card has a long period for you to pay off debt with a an intro 0% for 18 months on purchases and balance transfers. Following the intro period, theAPR on purchases will be 17.74%-27.24% (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 15.24%-26.24% 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.

The information related to The Amex EveryDay® 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.

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. After those 15 months, purchases are subject to a standard APR of 17.24 - 25.99% Variable. With the cash back program, you can earn unlimited 1.5% cash back on every purchase – it’s automatic.
The information related to the Chase Freedom Unlimited® Card has been collected by MagnifyMoney.com and has not been reviewed or provided by the issuer of this card prior to publication.

Chase Freedom®

Chase Freedom®

APPLY NOW Secured

on Chase Bank’s secure website


The 0% Intro APR on Purchases for 15 months on purchases and 0% Intro APR on Balance Transfers for 15 months means that the Chase Freedom® offers is complemented with 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 17.24 - 25.99% Variable.

BankAmericard® credit card

BankAmericard® Credit Card

APPLY NOW Secured

on Bank Of America’s secure website


The BankAmericard® credit card has a 0% Introductory APR on purchases for 18 billing cycles
(after that, a 15.24% - 25.24% Variable APR applies). There are no rewards; however, this card may be a good option if you plan on making large purchases.

Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American Express

APPLY NOW Secured

on American Express’s secure website


The Blue Cash Everyday® Card from American Express offers an introductory 0% for 15 months on purchases and balance transfers. After that, your APR will be 15.24%-26.24% 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

APPLY NOW Secured

on PNC Bank’s secure website


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 12.24%-22.24% Variable APR, based on your credit. There is no rewards program or noteable perks. However, there is U.S.-based customer service available 7 days a week.

Truly Simple® Credit Card from Fifth Third Bank

Truly Simple® Card from Fifth Third Bank

APPLY NOW Secured

on Fifth Third Bank (OH)’s secure website


This card offers a decent intro period at 0% APR for 15 billing cycles, 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 13.74%-24.74% variable applies after the intro period ends.

BB&T Bright Card

BB&T Bright Credit Card

APPLY NOW Secured

on BB&T’s secure website


The BB&T Bright Card offers a good intro period from a community bank at 0% intro APR for 15 months on purchases and balance transfers (variable 12.99%-21.99% 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

APPLY NOW Secured

on Aberdeen Proving Ground FCU’s secure website


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

APPLY NOW Secured

on KeyBank’s secure website


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, 12.24% - 22.24% 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 17.24% - 25.99% 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 Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.
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.

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.

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.

MagnifyMoney
MagnifyMoney |

Have a question to ask or a story to share? Contact the MagnifyMoney team at info@magnifymoney.com

TAGS: