If you want the best credit card in 2020, you have many options. These categories include High tier rewards, Balance transfer, Student and Interest-free cards. How do you know which card is the best? Based on our research, we have compiled a list with the top credit cards for 2020. Continue reading to see what we mean. Using our methodology, we've sorted through hundreds of offers from more than 60 different companies.
Cards with interest-free financing
A number of attractive deals are available to new cardholders due to the intense competition among credit card issuers. These deals include interest-free credit accounts for a limited time, often lasting between 12 and 21 monthly. There is usually no annual fee and no balance transfer fee, but these offers don't last forever. Any balance remaining after the introductory period ends will begin to accrue interest at the regular rate of 12-25 percent annually.
To avoid paying interest for new purchases, you must pay your balance off in full each month. A low-interest card may be better if you have to make large purchases that are not regular monthly. If you have these types of purchases, you can opt for an interest free card with a lower rate. You may also be eligible for a 0% introductory rate card if your monthly expenditures are low.
High-tier rewards cards
There are many rewards credit card options, but it is important to keep in mind that interest rate will continue rising throughout the year if your balance remains. The extended 0% introductory balance transfer window will allow you to save money this year. 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. These cards offer strong rewards for all types and purchases with very simple rules.
Chase Freedom Unlimited: This credit card offers 5% cash back on prepaid travel reservations and other purchases. Gas stations, restaurants, as well as internet purchases are all eligible for rewards. Cashback can be used for any amount. You can use it to make a bank or account deposit. If you would prefer to give a donation to charity, you can use the 5% cashback for a gift card purchase. You also get many other perks with the Chase Freedom Unlimited credit card. You'll receive $100 in statement credits for eligible software subscriptions.
Credit cards for students
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. You might find that rewards can only be earned if your spending habits are good. These tips will help to build your credit score.
Before you apply for a card, it is important that you understand the various benefits and features provided by the company. 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. Therefore, you can add years of positive information to your credit report by making payments on time.
Transfer cards for balances
When evaluating balance transfer credit cards, you should consider your credit score, how much you owe, and whether or not you can afford the high interest. These three factors will influence which balance credit cards are the best for you. We have compared hundreds upon hundreds of cards to help you make an informed decision. Among them, there are five that have no annual fee and do not have any annual fees.
Balance transfer credit cards have the advantage of consolidating your debt into one monthly payment. The best offers will be available for those with good credit. The best balance transfer card offers an introductory period. After this, your balance will continue to be charged at a normal APR. Many of these cards also offer modest cash-back rewards. If you are looking to consolidate debt quickly, balance transfer credit cards will be an excellent option.