There are many options for best credit cards in 2020. There are three categories: High tier rewards and Balance transfer, Student, and Interest-free. How do you know which card is the best? Based on our methodology, we've compiled a list of the top credit card options for 2020. Continue reading to find out more. We used our methodology to sort through hundreds and thousands of offers from more that 60 companies.
Cards with interest-free financing
There are many sweet deals available for new cardholders because of the fierce competition among credit card issuers. These deals offer interest-free credit cards that last for a period of 12 to 21 month. The offers usually come with no annual fees or balance transfer fees. However, these offers do not last forever. Once the introductory period is over, any remaining balance will begin accruing interest at the regular rate, which may be between 12 and 25 percent annually.
To avoid interest charges on future purchases, you should pay your balance each month in full. A low-interest card may be better if you have to make large purchases that are not regular monthly. These situations call for a low APR interest-free card. If your monthly expenses are low, you can even opt for a 0% introductory period card.
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. Extended 0% balance transfer windows this year will save you money. These deals are available for existing customers and not only new applicants. The 17 categories covered by our 51 selections of the best rewards credit card cards in 2020 include: With simple rules, they offer strong rewards on all purchases.
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. The cash back is redeemable for any amount. It can be used as a bank deposit or account credit. If you'd prefer to give a charitable gift, you can also use the 5% cash back to purchase a gift card. 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 creditcard is one way to build your credit score. When you responsibly use your credit card, you can earn store vouchers and air miles. However, your rewards will mean nothing if you cannot pay off the balance in full each month. You may be able to earn rewards depending on which card issuer you have. These tips will help to build your credit score.
It is important to understand all the features and benefits of a company's student card before applying. Many student cards offer 1% cashback on purchases. Some even offer bonus rewards for timely payments and spending a certain amount within the first few months. 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
Balance transfer credit cards should be evaluated based on your credit score, the amount of debt you have, and whether you are able to afford the high interest. These factors will determine which balance transfer credit card is best for you. We have compared hundreds to make it easier for you to choose the best balance transfer card. Five of them have no annual fees, and none other annual fees.
The benefit of balance transfer credit is the ability to consolidate your debts into one low monthly payment. The best offers are available to those with excellent credit. The best balance transfer card offers an introductory period. After this, your balance will continue to be charged at a normal APR. Many also offer modest cash back rewards. So, balance transfer credit cards are great for anyone looking to pay off debt quickly.