Top Five Credit Cards

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Using credit cards is a great way to save and earn money. You can even earn rewards for your spending. Many credits card issuing companies have arisen for so many decades. Each of them has its unique offers.

However, for you to enjoy the benefits of using a credit card, you have to pick the right credit card based on some offers and elements that surround the card.

Checklist for Selecting a Credit Card

Every credit card company has its unique offer. But before you decide on which boat you want to join; you need to figure out the following checklist as they decide what your experience will be like while you use the service of the company.

• APR (Annual Percentage Rate): every card has its APR, which is charged on them if you fail to clear your balance in any month. The APR for each card differs depending on the issuing company. So, look out for the company with the lowest rate.

• You also need to look out for the minimum amount that you must repay in any month when you fail to pay off your balance. The percentage varies depending on the issuing company as well.

• Carefully study the charges that are stated in the credit agreement for the card. Charges come in the form of late payment charges, foreign usage charges, and more.

• Check out the annual fee of the issuing companies. There are companies that charge a certain amount every year for using their card.

• Credit issuing companies offer an introductory interest rate offer where you will not be required to pay a high rate for the card used within the first couple of months of its usage. But as time goes on, the rate will increase. The period for this introductory rate differs based on the issuing company. So, you need to look out for that.

• We all love to enjoy rewards for our patronage. You can check out the reward programs of any card company before you go for their offer.

• Select a card that gives you the opportunity to get your money refunded based on the amount you have spent. Every credit card company has its cashback policy. So, you can go through it and see if it works for you.

How Can You Get A Credit Card?

Getting credit shouldn’t be a difficult process. You have to apply for a credit card, and of course, there are a number of requirements you will need before you apply. For a first credit card, you need to start small, and the reward for spending maybe a little less than fair.

However, over time, as you get to build up and maintain a good credit score, you begin to enjoy better offers. If you want a student credit card or a secured credit card, you need to pay a cash deposit.

Minimum deposits typically range from $200 to $500. However, most secured cards may allow you to deposit more, so you can get a higher credit limit. You should note that your first credit card is more like a foundation, and it could build or ruin your credit limit.

After building your credit score up to a range of 670 to 850 (good to excellent), you can then apply for credit cards with better rewards. In your application process, you may need to submit some information such as:

• Your full legal name • Your Date of birth • Your Address • Your social security numbers • Your annual income • If you own or rent a home • Your partner’s income

How Can You Apply for A Credit Card?

You can apply for a credit card in person, on the issuer’s website, on the phone or through the mail. Applying in person allows for flexibility and gives room to ask questions. The mail is the least efficient and swift. We all know how the mailing system can be so slow.

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5 Credit Card Issuers We Recommend

There are several credit card issuers, and they come in different sizes, policies and rewards. Choosing the best credit card issuers who have the best offers is vitally important. You need to use issuers who offer the best rewards and charge fair annual fees.

You will also need to consider companies or institutions that meet up with required guidelines and policies.

Citi Bank

Citi bank has been in operation for about 200 years, having been founded in 1811. The financial institution offers personal credit cards, banking and wealth management services, among an array of financial services.

Citi offers the most popular cashback cards presently. Some Citi bank cards include; the Citi simplicity card, Citi premier card, and Citi double cash card. Citi Bank also offers a reward card; Citi Thank You rewards program; this card can also serve as a travel card as you can get a reward to travel with airlines who partner with Citi bank.

Citi bank card offers APRs ranging from 14.24% - to 16.74. which is less than 20%; these rates are in line with Regulation Z, regulated by The Consumer Financial Protection Bureau.

Capital One

This company was established in 1994, so it is relatively new. However, the company has grown quite large and now has the 8th largest credit card portfolio in the world?

Some credit cards Capital One offers include; spark cash plus, venture rewards card and quicksilver rewards card.

Capital One offers a range of credit cards for every type of individual, from secured credit cards to travel cards to charge cards and business credit and charge cards, including cashback cards.

Capital One charges zero annual fees and charges zero fees for foreign transactions.

Chase

Founded in 1799. Chase has the largest credit card portfolio of any card issuer in the world. Some of their credit cards include preferred sapphire card, freedom unlimited, freedom flex, and ink business preferred credit card. Chase offers the best rewards on cards. It is also the most used card in the USA, with 149.3 cards presently in circulation. With chase cards, you get up to 6.5 % in rewards.

Wells Fargo

Wells Fargo has been around since 1852. They started issuing credit cards in 1960. They offer secured credit cards, cash cards and zero percent intro APR. Some of their cards include reflect cards, active cash cards, and business secured credit cards. The Wells Fargo reflect card offers up to 21 months of 0% APR when you meet the basic requirements. Wells Fargo offers zero liability fraud protection as well as overdraft protection and emergency assistance.

Andrews Federal Credit Union

Andrews Federal Credit Union provides the lowest interest rates. The institution offers reward cards that reward 3x for expenditures such as gas and groceries for every dollar spent and also gives 10,000 bonus points for spending $1,500 within 90 days of opening.

How Can You Make Complaints?

Most credit card issuers have customer service operatives on deck. However, for legal and gross ethical misconduct, you can reach out to The Consumer Financial Protection Board, The Federal Trade Commission and the Office of the Controller of Currency.

Finally, choosing the right credit card helps you save and even earn money just by spending. Credit cards can also help you stay within budget. Whichever credit card you choose, you should be careful about overspending and always make sure you pay up on time before or on every due Date. Without cautiousness, you can easily slip into debt. Always endeavor to keep a good credit score.