Find Credit Card Offers This Year
Looking for a credit card to match your needs? Read more to find out about the different types of credit cards, how to find the perfect credit card, and how to find the best credit card offers this year.
Credit cards are an easy way to purchase products or services now and pay later, especially if you do not have the funds now. They also are an excellent way to begin building credit or improve your existing credit score. That said, it is crucial to choose a credit card that works for you and offers you the right features. Since there are many different credit card options and providers, it may be difficult to find the perfect one. In this guide, you will learn types of credit cards, common features of credit cards, how to find a credit card, common credit card offers, and how to find the best credit card offers.
Types of Credit Cards
Many consumers believe there is only one type of credit card, simply different features and interest rates. However, there are different types of credit cards. Generally, providers offer a few different types of credit cards, including:
Unsecured Credit Cards
Unsecured credit cards are the most common type of credit card. It is not backed by any collateral. If you do not pay your credit card, you will simply earn more interest and your credit score may drop.
Secured Credit Cards
Secured credit cards are great for anyone who does not have a credit history or positive credit score. You must place a monetary deposit to secure your line of credit.
Balance Transfer Credit Cards
If you have a credit card with a high outstanding balance, it may be hard to pay down the debt. A balance transfer credit card allows you to transfer large debt onto it with zero or low interest for a certain amount of time.
Rewards Credit Cards
There are many types of rewards credit cards such as travel rewards, gas rewards or cash back rewards. When you use a rewards credit card to purchase items, you earn points that you can redeem for travel, gas, gifts, or cash.
Student Credit Cards
Typically, college and university students do not have a strong credit history or score. Student credit cards give them a chance to start building credit early. They may have low limits, or they may be secured credit cards.
Features of Credit Cards
Now that you have an excellent understanding of the types of credit cards available, it is advantageous to know the different features of credit cards. This can help guide you in choosing a credit card that works for you. Common features include:
- Credit Limit: Credit limits dictate how much money you can spend. Some credit cards will not allow you to exceed your designated amount and others will charge you fees and higher interest on any amount over the limit. If you have no credit history or a poor credit score, your initial credit limit may be low. However, if you pay your minimum payments every month on time, your provider may offer you credit limit increases.
- Balance: Your balance shows you how much you have spent on your credit card. This amount is money you owe in full. It is also subject to interest and will grow higher over time if it is not paid off.
- Annual Percentage Rate (APR): APR is your interest rate, applied to your outstanding balance. You may have different interest rates depending on balances. For instance, you may be charged a different interest on money you have transferred to a checking or savings account than money you have used to purchase items.
- Fees: Some credit cards have an annual fee for holding the card. You may also be charged fees if you didn’t pay your minimum payment on time, or you have gone over your credit limit.
- Rewards: Your credit card may offer rewards, points, miles, gifts, or cash back for making regular purchases on the card.
- Perks: Some credit cards come with special perks such as trip insurance or purchase insurance. A few credit cards have regular offers that you can load onto your card for discounts on certain purchases.
How to Find Excellent Credit Cards
It can be incredibly time-consuming to find every credit card provider, look through all their credit card options, and then compare each credit card. To find a credit card that matches your needs perfectly, you can use efficient online tools to locate and compare current credit cards and their features.
A few of the most popular online tools to find credit cards are:
- NerdWallet: NerdWallets has several useful tools including a personalized, engaging assessment to help you find a credit card to suit your needs and a tool to compare the top credit cards.
- BankRate: BankRate helps you find credit cards that match your credit score and provide exceptional offers. You can even compare up to three credit cards against each other or search for specific credit cards.
CardRatings: CardRatings allows you to view credit cards that fall into certain categories. You can find credit cards that fall into rewards, balance transfers, unsecured, secured, gas rebates, travel rewards, gas rebates, excellent credit, fair credit, and more.
Value Penguin: Value Penguin helps you find credit cards for specific purposes. Whether you are looking for a credit card perfect for luxury travel, rewards, cashback, or balance transfers, they can find you a great list!
Credit Card Offers
Providers may grant special offers on certain credit cards, which could be a major benefit to some consumers. The most popular types of credit card offer include:
Sign Up Bonuses
Sign up bonuses are free money, offered to those who open a new card and meet specific requirements. Some of these bonuses can be a few hundred dollars in cash-back or thousands of rewards points or miles to put toward specific purchases.
Percentage Cash-Back Offers
Percentage cash-back offers provide you with between 2% and 10% cash-back for a certain amount of time. You can use this % to make partial payments on your credit card balance.
0% interest offers are excellent, especially if you are looking to transfer debt onto your credit card and pay it down. The credit card provider may offer 0% for a few months, up to a year.
How to Find the Best Credit Card Offers
Looking for the best credit card offers? A few credit card finder tools can also help you scope out the best offers including CardRatings and Value Penguin. You can also locate the best deals of the month or the year with updated lists from CreditcardGenius, Forbes Advisor, Nerd Wallet, The Points Guy, or WalletHub. Likewise, if you hold a bank account with a large bank, you may wish to take advantage of your bank advisor’s expertise and credit cards your bank is associated with. You may be eligible for special offers for being a bank client.