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There are many credit card offers out there, but which one is the best credit card for you? The answer depends on your needs and your credit history.
If you’re considering a card for rewards, there’s a wide variety of options.
Do you want a simple card that earns you a cash back percentage as a statement credit on all your credit card spending? Or are you looking for a travel rewards card that will earn points, like Chase Ultimate Rewards points, that you can transfer as airline miles, or to another rewards program?
Many rewards cards earn more on certain bonus categories, like gas stations, grocery stores, or wholesale clubs. Choose wisely according to your spending habits.
Are you willing to pay an annual fee? Some cards have a high annual fee, but the value of benefits and rewards can more than make up for it. You may just want to keep things simple and only consider cards with no annual fee.
Consider the sign-up bonuses that many cards offer. Credit card issuers will often award you bonus points when you spend a certain amount within the first few months of opening your new card.
Maybe you’re a student, or someone who has not established credit history yet. If you want to build credit, you may want to find a card that will let you monitor one of your FICO scores and track your progress.
If you have bad credit, you still have options to get the benefits of credit cards, but you might have to pay an annual fee or get a secured card. These cards may not earn any rewards, but could help you re-build your credit as long as you pay your bill on time and use the card responsibly.
If you’re trying to pay off debt faster with a balance transfer, the best card for you would probably have no balance transfer fee and a long 0% introductory APR offer.
Make sure you’re also considering the additional benefits cards offer. Many travel cards come with benefits like car rental and travel insurance, while some go further, offering big travel credits and airport lounge access. If you travel outside the country often, consider whether a card has foreign transaction fees. You may also want to look for a Visa or Mastercard, since American Express and Discover cards may not be as widely accepted abroad.