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, here's a list containing the best 2020 credit cards. Keep reading to discover what we mean. We've sorted through thousands of offers from more 60 companies using our method.
Interest-free credit cards
There are many sweet deals available for new cardholders because of the fierce competition among credit card issuers. 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. 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.
In order to avoid paying interest on new purchases, it's important to pay off your balance in full each month. For large one-off purchases, however, it may be necessary to keep your balance open. In these cases, a low interest credit card might be more beneficial. 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 cards available, but you should keep in mind that interest rates will continue to rise throughout the year, if you carry a balance. To help you save money, there are extended 0% balance transfer windows. These deals can be availed to existing customers as well as new applicants. Our 51 picks for the best rewards credit cards of 2020 cover 17 categories. They offer strong rewards for all types purchases and follow simple rules.
Chase Freedom Unlimited Credit Card: Get 5% cashback when you make prepaid travel reservations or other purchases with this credit card. You can also earn rewards at gas stations, restaurants and online. The cash back is redeemable for any amount. It can also be used for account credit or bank deposits. You can also redeem the 5% cashback to purchase gift cards if your gift is a charitable one. There are many other benefits to the Chase Freedom Unlimited Card. For eligible software subscriptions, you'll get $100 in statement credit.
Student credit cards
A student card credit card is one of the best ways to build credit. You can earn rewards such as air miles and store vouchers when you use your credit card responsibly. If you are unable to pay your monthly balance in full, your rewards will be meaningless. You may be able to earn rewards depending on which card issuer you have. The following tips will help you build a good credit score:
It is important to understand all the features and benefits of a company's student card before applying. 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. Most student cards are reported to all three major credit agencies. You can also add years of positive credit information to your credit score by paying on time.
Balance transfer cards
Consider your credit score, what you owe and whether you can afford high interest rates when looking at balance transfer credit cards. 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. There are five that do not charge an annual fee.
One of the benefits of balance transfer credit cards is the fact that you can consolidate your debt into one low monthly payment. You may be eligible for the best offers if your credit is excellent. Balance transfer cards with the best rates come with an initial period. After that, your balance will be charged at a regular rate. Many of these cards also offer modest cash-back rewards. These cards allow you to pay off your debts quickly by using balance transfer credit cards.