There are many options for best credit cards in 2020. These cards include high-tier rewards, balance transfer, student and interest-free cards. How can you determine which card is best for your needs? Based on our research, we have compiled a list with the top credit cards for 2020. Keep reading to discover what we mean. We used our methodology to sort through hundreds and thousands of offers from more that 60 companies.
Get interest-free credit cards
A number of attractive deals are available to new cardholders due to the intense competition among credit card issuers. These deals offer interest-free credit cards that last for a period of 12 to 21 month. Although these deals are usually free of annual fees and balance transfer fees, they don't last forever. Any balance remaining after the introductory period ends will begin to accrue interest at the regular rate of 12-25 percent annually.
In order to avoid paying interest on new purchases, it's important to pay off your balance in full each month. However, big one-off purchases may require you to keep the balance open, so a low interest card might be more suitable. These situations call for a low APR interest-free card. You can also opt for a 0% promotional period card if your monthly expenses are very low.
High-tier rewards cards
There are many rewards credit card options, but it is important to keep in mind that interest rate will continue rising throughout the year if your balance remains. To help you save money, there are extended 0% balance transfer windows. These deals are available to all customers, not just those who apply. These 51 top-rated rewards credit cards for 2020 are available in 17 categories. They offer strong rewards for all types purchases and follow simple rules.
Chase Freedom Unlimited: This card gives you 5% cashback for pre-paid travel reservations as well as other purchases. Gas stations, restaurants, as well as internet purchases are all eligible for rewards. Cashback can be used for any amount. It can also be used for account credit or bank deposits. If you'd prefer to give a charitable gift, you can also use the 5% cash back to purchase a gift card. You also get many other perks with the Chase Freedom Unlimited credit card. You'll receive $100 in statement credits for eligible software subscriptions.
Student credit cards
A student creditcard is one way to build your credit score. If you are responsible with your credit card use, you may be eligible for store vouchers or air miles. Your rewards won't mean anything if you can't pay the entire balance each month. Depending on the card issuer, you may find that you can only earn rewards if you are responsible with your spending. These tips will help to build your credit score.
Before applying for a Student Card, be sure to fully understand the benefits and features that the company offers. A majority of student cards offer 1% cashback when you purchase. Many also offer bonus rewards if the account is opened within the first few weeks. Many student cards can be reported to all three major credit bureaus. Therefore, you can add years of positive information to your credit report by making payments on time.
Balance transfer cards
Consider your credit score, what you owe and whether you can afford high interest rates when looking at balance transfer credit cards. These three factors will influence which balance credit cards are the best for you. We have compared hundreds if not all cards to simplify the decision-making process. Among them, there are five that have no annual fee and do not have any annual fees.
One of the many benefits of balance transfer credit card is that you can consolidate your debt into a single monthly payment. You may be eligible for the best offers if your credit is excellent. Balance transfer cards with the best rates come with an initial period. After that, your balance will be charged at a regular rate. Some offer cash back rewards, while others have modest cashback options. So, balance transfer credit cards are great for anyone looking to pay off debt quickly.