If you want the best credit card in 2020, you have many options. There are several options available, including High-tier rewards, Balance transfer and Student cards. But how can you tell which card is best for you? Based on our methodology, here's a list containing the best 2020 credit cards. Continue reading to see what we mean. Using our methodology, we've sorted through hundreds of offers from more than 60 different companies.
Cardholders can get interest-free credit
The competition between credit card issuers has produced a number of sweet deals for new cardholders. These deals often offer interest-free credit cards during an initial period that can last between 12 and 21 months. These offers are not available forever. There is no annual fee or balance transfer fee. After the introductory period has ended, any balance will begin earning interest at the regular annual rate, which could be between 12-25 percent.
You can avoid paying interest on any new purchases by making sure you pay your entire balance each month. However, big one-off purchases may require you to keep the balance open, so a low interest card might be more suitable. For these instances, you should opt for an interest-free card with 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 options available. But you should remember that interest rates will continue increasing throughout the year if there is a balance. This year, extended 0% introductory balance transfer windows will help you save money. These deals can be availed to existing customers as well as new applicants. These 51 top-rated rewards credit cards for 2020 are available in 17 categories. They provide strong rewards for all types of purchases, with simple rules.
Chase Freedom Unlimited: This credit-card offers 5% cash back for prepaid travel reservations, and other purchases. Other rewards categories include gas stations, restaurants, and internet purchases. You can redeem the cash back for any amount. You can apply it as an account credit or bank deposit. You can also redeem the 5% cashback to purchase gift cards if your gift is a charitable one. You also get many other perks with the Chase Freedom Unlimited credit card. You'll receive $100 in statement credits for eligible software subscriptions.
Student credit cards
A student credit card can help you build credit. If you are responsible with your credit card use, you may be eligible for store vouchers or air miles. However, your rewards will mean nothing if you cannot pay off the balance in full each month. You might find that rewards can only be earned if your spending habits are good. These tips can help you build 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.
Transfer cards for balances
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 three factors will be a key factor in deciding which balance transfer credit cards work best for your needs. We have compared hundreds if not all cards to simplify the decision-making process. Five cards have no annual fees and none have annual fees.
The best thing about balance transfer credit cards? You can consolidate all your debt into one low monthly installment. If you have excellent credit, you can take advantage of the best offers. The best balance transfer cards come with an introductory period, after which your balance will be charged at a regular APR. Many offer small cash back rewards. These cards allow you to pay off your debts quickly by using balance transfer credit cards.