Understanding the Best Credit Cards of this Year
When investing in a credit card, it can be hard knowing where to start. The sheer number of options available can make the decision quite daunting. Fortunately, there is no shortage of resources to help match you to the perfect card. As 2018 draws to a close, it’s time to assess the best credit cards on the market this year. Here’s a look at the top four credit cards you should be aware of.
Best Overall Credit Card: Chase Sapphire Preferred
The Chase Sapphire Preferred is a top-notch card in terms of rewards, protection, and ease of use. It offers users a variety of benefits and rewards aimed at making their financial lives easier. The card offers points for all purchases, double points for travel and dining, and 25% more points when you pay through Chase’s travel portal. The annual fee is just $95 and the sign-up bonus is 50,000 points worth $625 when you redeem through Chase Ultimate Rewards. Additionally, you earn 2x points on travel and dining and 1x points on all other purchases. With the relationship to Chase Ultimate Rewards, you can transfer your points to a variety of different airlines and enjoy the perks of their rewards plans.
Best Rewards Credit Card: American Express Gold Card
The American Express Gold Card is an ideal choice for those looking for great rewards. The card offers a variety of rewards for spending, including 4x points for restaurants, 3x points for flights booked directly with airlines or via AmEx Travel, and 2x points for groceries. On top of that, you get up to $100 in statement credits for purchases at U.S. supermarkets each year and up to $100 for airline fees. Plus, the card is currently offering a welcome bonus of 25,000 points after spending $2,000 in the first three months. The annual fee is $250 and you also get a $100 annual airline fee credit. This is an ideal card for those who frequently make restaurant or travel purchases and are looking to maximize their rewards.
Best Cash-Back Credit Card: Citi Double Cash Card
For those looking for a relatively straightforward cash-back card, the Citi Double Cash Card is a great choice. This card provides generous rewards with no annual fee. You get 2% cash back on all purchases: 1% when you make a purchase and 1% when you pay. Additionally, the card comes with a rewards rate of 18% when you make balance transfers in the first 18 months of account opening. The sign-up bonus is 0% introductory APR on balance transfers for the first 21 months. This is an ideal card for those looking for a simple, no-hassle cash-back card.
Best Low-Interest Credit Card: Barclaycard Ring MasterCard
The Barclaycard Ring is another great card for those looking for a low-interest rate. The APR for purchases on this card ranges from 8-18%, which is substantially lower than many other cards on the market. The card also has no annual fee and offers 1% cash back on all purchases. Additionally, the card has no foreign transaction fee and provides access to exclusive community benefits, such as a potential rewards structure and phone banking. This is an ideal card for those looking for long-term savings with low-interest rates.
Best No-Fee Credit Cards
In addition to the above-mentioned cards, there are a few no-fee credit cards on the market that may be worth considering. These include the Amex EveryDay Credit Card, Chase Freedom, Citi Simplicity Card and the BankAmericard Credit Card. These cards typically have fewer rewards than the rewards-based cards mentioned above, but they still provide value in the form of no annual fee and 0% introductory APR on purchases and balance transfers.
Choosing the right credit card can help maximize your financial wellness. With the right information and the right research, you can match the card that fits your lifestyle and financial situation. We’ve looked at the best cards of 2018 and the features offered by each. Whether you’re looking for rewards, cash-back, a low-interest rate, or no fees, there’s a card that’s just right for you.
