The right credit card can help you improve your financial affairs by building credit, collecting rewards, and saving money. However, owing to an influx of credit cards available on the market, finding the best credit card to suit your needs could be an ordeal. Regardless, we are here to make this task a walk in the park for you.
We recommend asking these questions while you’re searching for the right credit card for you:
- What is your credit score? Because approvals are mainly made based on one’s credit score and income, you must first check your credit when choosing a credit card. Generally, the higher your credit, the better are your chances to get lucrative benefits/rewards.
- Do you tend to carry an amount on your Credit Card? If that’s the case, a low interest or zero interest credit card with no rewards is a better option than one with rewards. If you don’t make payments, you can lose any points/miles/cashback you receive to interest.
- Are you presently carrying high-interest credit card debt? If yes, go for a balance transfer credit card with a lengthy no introductory annual percentage rate window or a card with a waived balance transfer fee.
- Do you want to earn cashback? Cashback cards can usually be easily leveraged, especially when it’s time for redemption. However, credit cards that provide points or miles can prove to be very profitable.
- Do you want a sign-up bonus? Sign-up bonus offers allow you to get bonus rewards in your first year after spending a certain amount of money in a given period (usually within the first ninety days from account opening).
The best credit card for you will vary according to your budget, financial objectives, spending habits, and credit rating. We have narrowed down five secured credit cards that could prove to be the perfect fit for you. These cards offer a combination of good rewards, extensive promotional annual percentage rates on acquisitions or balance transfers, bountiful welcome offers, and significant favorable terms and conditions.
1. Best for cashback: Discover it® Student Cash Back
With this credit card, you can earn 5 percent cash back on daily purchases at various spots each quarter, for example, at the amazon website, grocery stores, food outlets, fuel stations, and when paying using PayPal, up to the quarterly balance available when your credit card is activated. Furthermore, unlimited one percent cash back on all other purchases automatically hits your account.
Varies (12.99% – 21.99%)
Foreign transaction fee
This credit card will match all the cash back you have earned at the end of your 1st year
No APR for six months on purchases.
Balance transfer fee
3 percent introductory balance transfer fee, up to 5 percent fee on subsequent balance transfers
Fair / New to Credit
- Cashback program
- Plentiful welcome bonus
- You have to activate cashback categories every four months
- Cash-back program bounds earnings: Register every quarter to receive 5 percent cashback in several types on up to 1,500 dollars in quarterly acquisitions, then 1 percent. s
- You are required to be a U.S. citizen and college student to be eligible for this card
2. Best for Travel: Capital One Venture Rewards Credit Card
Earn 2X miles on every purchase, every day
Foreign transaction fees
Introductory bonus offer:
Earn a one-time bonus of 60,000 miles after spending 3,000 dollars on purchases within three months from account opening
Recommended Credit Score
690-850 (Good – Excellent)
- Favorable rewards rate
- Pliable rewards redemption
- Exorbitant yearly Fee
- Rewards carry meager flexibility
- You must have good/outstanding credit
3. Best for Balance Transfer: BankAmericard® credit card
Intro Annual Percentage Rate fees
No APR for the first 18 billing cycles on purchases in addition to on any balance transmissions made within sixty days of opening one’s account.
12.99% – 22.99% Variable
Suggested Credit Score
690-850 (Good – Excellent)
- Does not have an annual fee
- Length intro APR on purchases/balance transfers
- The holder must have good/excellent credit
- Does not offer any bonuses
- Does not offer rewards
4. Best for First-time Rewards Credit Card: Capital One Quicksilver Cash Rewards Credit Card
Get unlimited cash back at the rate of 1.5 percent on every purchase you make, each day
Intro Annual Percentage Rate on Balance Transfer
Regular Annual Percentage Rate
15.49% – 25.49% variable
Foreign Transaction Fee
- No annual fee
- Competitive base rewards
- Generous sign-up bonus
- You are not required to keep a record of categories of rewards or spending caps.
- Redeeming rewards is not bound by a minimum.
- Flexible redemption options
- No bonus cash back categories
- You are unable to transfer the cashback you have earned to other cards or loyalty programs.
5. Best for Business Credit Card: American Express Blue Business Cash™ Card
Get 2 percent cash back on all qualified purchases on up to 50,000 dollars per calendar year, then 1 percent cash back on all eligible purchases after spending 50,000 dollars per calendar year.
No yearly fee
Introductory Annual Percentage Rate
0 % APR on new purchases for 12 months from account opening
13.24% – 19.24% variable
- No annual fee
- As a business owner, you can add employees to your account free of an annual fee
- You do not have to worry about rewards redemption. Cashback is automatically given as statement credit whenever a billing cycle ends.
- The 2 percent cash back you earn is capped at 50,000 dollars in purchases every year, then 1 percent.
- Big business financiers may be able to get their hands on a more profitable business credit card, even if it holds an annual fee.