There are many choices when it comes to the best credit cards in 2020. These cards include high-tier rewards, balance transfer, student and interest-free cards. But how can you tell which card is best for you? Based on this methodology, we created a list listing the best credit cards in 2020. Continue reading to find out more. We've sorted through thousands of offers from more 60 companies using our method.
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 often offer interest-free credit cards during an initial period that can last between 12 and 21 months. The offers usually come with no annual fees or balance transfer fees. However, these offers do not last forever. Any balance remaining after the introductory period ends will begin to accrue interest at the regular rate of 12-25 percent annually.
You can avoid paying interest on any new purchases by making sure you pay your entire balance each month. A low-interest card may be better if you have to make large purchases that are not regular monthly. You should choose an interest-free card that has a lower APR. Even if you have low monthly expenses, you may be eligible for a card with a 0% intro period.
High-tier rewards cards
There are many rewards credit cards available, but you should keep in mind that interest rates will continue to rise throughout the year, if you carry a balance. To help you save money, there are extended 0% balance transfer windows. These deals can be availed to existing customers as well as new applicants. Our 51 picks of the top rewards credit cards in 2020 span 17 categories. They provide strong rewards for all types of purchases, with simple rules.
Chase Freedom Unlimited: This credit cards offers 5% cashback on pre-paid travel reservations and other purchases. Other reward categories include gas stations and restaurants as well as internet orders. Cashback can be used for any amount. It can be used as a bank deposit or account credit. You can also use the 5% cashback to buy a gift certificate if you prefer to give a charitable present. The Chase Freedom Unlimited card also has several other perks. For eligible software subscriptions, you'll get $100 in statement credit.
Student credit cards
A student credit card can help you build credit. You can earn rewards such as air miles and store vouchers when you use your credit card responsibly. However, your rewards will mean nothing if you cannot pay off the balance in full each month. It may be that depending on your card issuer, rewards are only available if you spend responsibly. These tips will help you build good credit.
You should be familiar with the benefits and features offered by each company before you apply for a student credit card. Most student cards offer 1% cash back on purchases and some even offer bonus rewards if you make your payments on time and spend a certain amount of money in the first few months of account opening. Moreover, most student cards report to all three major credit bureaus. Making timely payments can help add years of positive information on your credit report.
Balance transfer cards
Your credit score, your owes, and affordability are all important factors when evaluating balance transfer credit credit cards. These factors will determine which balance transfer credit card is best for you. We have compared hundreds upon hundreds of cards to help you make an informed decision. 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 that are the best come with an introductory period. After which, your balance is charged at a regular interest rate. Many cards offer modest cash back incentives. These cards allow you to pay off your debts quickly by using balance transfer credit cards.