A credit card is an extraordinary financial instrument if used efficiently. The good management that is given to it, is rewarded with the reputation that the cardholder obtains before the bank or financial institution, these keep records of the use and how the payments are made, so in this way a credit history is built that brings great advantages when opting for mortgage loans, automotive or other.
It avoids the handling of cash that causes so much risk in the present times, also with a credit card you have a great possibility to control optimally the expenses. The technological advance that has meant the Internet has led to a large number of businesses working in this way and where payments to be made are made online with credit cards and additionally, the frequent use of these usually generates rewards.
Before trying to apply for a credit card, it is necessary to consider that since it has advantages, it also has cons if you do not have a conscience when handling the income and obligations that you have monthly. The first thing is to examine your financial situation to determine how much you can pay back each month without risking your budget. Try to find the entities that offer the lowest interest rates to apply for the card.
Top 10 The Best Credit Cards of 2020
The Best Overall Credit Card
Citi® Double Cash Card
- With this card you can earn up to two times cash, 2% for each purchase and 1% cashback without limit, when you make purchases.
- If you want cashback, you get it by paying the minimum debt before it expires.
- The annual percentage rate for balance transfers is 0% for a year and a half, after which it varies according to the creditworthiness of the cardholder.
- Paying the balance in full avoids interest charges on purchases when transferring the balance before the monthly due date.
- Balance transfer fee 3% of the transferred bike, if it is greater than $5.
- Rewards for each purchase.
- Rewards can be exchanged for checks or deposits.
- With Citi Entertainment, you can get tickets for concerts and sporting events
- Fraud Alert Service
- Excellent customer service.
The Best Travel Rewards Card
Chase Sapphire Preferred® Card
- Premium card for travelers with excellent credit, ideal for people who travel frequently on a budget for travel and meals.
- Reward points on travel and restaurants, with no overseas transaction fees
- No blackout dates or travel restrictions
- Offers two levels of rewards, involving travel expenses such as hotels, car rentals, airlines, travel agencies, trains, buses, Uber, etc.
- Chase Ultimate Rewards awards 2 points per dollar consumed in travel and restaurants and 1 point per dollar from all other areas.
- 60,000 bonus points for the first three months when spending $4,000, these are worth $750 when redeemed for travel.
- If redeemed for statement credit, the value of one cent per point.
- These points can be used to cancel purchases in establishments such as Amazon with a value of 0.8 cents per point.
- Rewards are such that for spending $300 on a trip, you receive 600 points, spending $250 at a restaurant you receive 500 points
- Customer service 24/7.
The Best Airline Rewards Credit Card
Southwest Rapid Rewards® Priority Credit Card
- Among its advantages, it offers a $75 travel credit per year.
- Rewards of 2 points for purchases on Southwest Airlines and 1 point for all other expenses.
- When you reach $1,000 in spending in the first three months, you can earn 40,000 points.
The Best Card for Travel and Eating
Bank of America® Premium Rewards® Visa® Credit Card
- It offers low rates per year, excellent rewards for restaurant and travel expenses.
- It is the best alternative for people who spend a lot of time away from home.
- No limits to earning points and no expiration dates, the most interesting alternatives are the change of rewards, these points can be converted into cash in savings accounts of the bank of America.
The Best Premium Rewards Credit Card
Chase Sapphire Reserve®
- Offers the most attractive travel rewards available today, combines a welcome bonus with ongoing rewards, and even for infrequent travelers has excellent alternatives.
- It awards $300 for travel credit per year.
- Points earned can be transferred to airline programs and affiliated hotels
- Earn 50,000 points by accumulating $4,000 in expenses during the first quarter.
The Best Student/First Credit Card
Discover it® Student Cash Back
- Cash reward of 1% of all purchases
- For restaurant and gas station expenses of up to $1500, you earn a 5% cash reward each quarter.
- May be requested by college students between the ages of two and four.
The Best Credit Card for Travel Abroad
Capital One® Quicksilver® Cash Rewards Credit Card
- Cashback as a reward for 1.5% on all purchases, with no limit on maximums.
- When you accumulate $500 in spending per purchase, you receive $150 cash back as a welcome bonus.
The Best Airline Rewards Credit Card with no annual fee
United℠ TravelBank Card
- 1.5% cash reward on all purchases
- Earn 2% cashback on all United purchases.
- Accumulate $1,000 in purchases during the first quarter and earn the $150 cash welcome offer from United TravelBank.
- The only card that records your cash rewards.
- 25% discount on United flights.
The Best Credit Card for Retailers
Target REDcard™ Credit card
- 5% discount as a reward for online and in-store purchases.
- Free shipping on orders.
- Great money-saving when spending on Target.
- No annual fees.
The Best Credit Card for Amex Offers
American Express Cash Magnet® Card
- 1.5% cash reward on all purchases.
- When you accumulate $1,000 in expenses in the first quarter, you earn $150 statement credit as a welcome bonus.
- No annual fee.
- As a cardholder you are eligible to enroll in Amex Offers which is a program that allows you to receive cash savings or points for Membership Rewards cards.
- Freedom to decide how to use the rewards.