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. So how do you choose the right card for you? Based on our methodology, we've compiled a list of the top credit card options for 2020. Keep reading to discover what we mean. We have sorted through hundreds more offers than 60 companies using our methodology.
Cards with interest-free financing
Many sweet deals have been created by the competition between credit card issuers to attract new cardholders. Many of these deals provide interest-free credit card for a 12- to 21-month period. These offers are not available forever. There is no annual fee or balance transfer fee. After the initial period, the balance will start accruing interest at the regular rates, which can be anywhere from 12 to 25 percent per year.
In order to avoid paying interest on new purchases, it's important to pay off your balance in full each month. You might need to pay off the balance in full each month for large, one-off purchases. A card with a lower interest rate may be more appropriate. For these instances, you should opt for an interest-free card with a lower APR. You can also opt for a 0% promotional period card if your monthly expenses are very low.
High-tier rewards cards
You have many options for rewards credit cards. However, you need to remember that interest rates will rise year-round if you have a balance. The extended 0% introductory balance transfer window will allow you to save money this year. These deals are available to existing customers, not just new applicants. We have 51 choices for the best rewards cards 2020. They cover 17 categories. These cards provide strong rewards for any type of purchase, and have simple rules.
Chase Freedom Unlimited: This credit cards offers 5% cashback on pre-paid travel reservations and other purchases. You can also earn rewards at gas stations, restaurants and online. Cash back can be redeemed for any amount. You can apply it as an account credit or bank deposit. If you'd prefer to give a charitable gift, you can also use the 5% cash back to purchase a gift card. Additional perks are available with the Chase Freedom Unlimited cards. Statement credits of $100 will be given to eligible software subscriptions.
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. But, you will lose your rewards if the balance is not paid in full each monthly. 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 you build good credit.
Before applying for a Student Card, be sure to fully understand the benefits and features that the company offers. You can get 1% cash back on your purchases with most student cards. Other cards may offer bonus rewards if payments are timely made and you spend a certain amount in the first few years of account opening. The majority of student cards report to the three major credit bureaus. Therefore, you can add years of positive information to your credit report by making payments on time.
Balance transfer cards
You should evaluate your credit score and how much debt you owe before you consider balance transfer credit card options. Also, make sure you are able afford to pay the high interest. 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. There are five that do not charge an annual fee.
Balance transfer credit cards have the advantage of consolidating your debt into one monthly payment. You can get the best deals if you have great credit. Balance transfer cards that are the best come with an introductory period. After which, your balance is charged at a regular interest rate. Many offer small cash back rewards. For anyone who is looking to reduce their debt, balance transfer credit card are a great choice.