Choosing The Best Credit Card For You

Credit cards are the most secure way to pay. They offer great protection against fraud as compared to debit cards. They also help you build good credit as long as you don't exceed the overall credit limit. Ideally, to maintain good credit, you will not exceed over 30% of your overall credit limit. So that means if you have a credit limit of $10K, you will not exceed the balance of $3K. In addition, you can earn rewards for purchases such as travel, cash back, gas credit and more. Below are the best types of credit cards.

Best Travel Credit Cards

These are the two best travel credit cards for those offer most affordable traveling experience. They are the best credit cards which earn you rewards on dining and travel.

Best Cash Back Credit Cards

  • Chase Slate

This is the best credit card with a 0% APR for the first 15 months for all kind of purchases you make and the balance transfers. It doesn’t charge a fee for any balance transferred within the first 60 days. After 15 months it charges 13.24% APR to 23.24% depending on your credit.

  • Blue Cash Preferred from American Express

This is the best credit card with a rewards program. It offers 6% back at US supermarkets on first $6,000 purchases and after that, it is 1%. It offers 3% back at selected department stores and US gas stations. The APR is 0% for the introductory period and then it is charged to 13.24% to 22.24%.

  • Barclaycard Arrival Plus World Elite MasterCard

For traveling during retirement, the card is best to redeem rewards. The card comes with 0% APR for first 12 months and after that, it goes to 16.24% to 20.24%.

  • AARP Credit Card from Chase

To earn 3% cash back on dining and gas stations, this is the best card that comes with a 0% APR for first 12 months.

  • Citi Double Cash Card

When you make a purchase with this card, you get 1% cash back. Again, when you pay your balance, you are showered with another 1%. The card charges a 0% APR for first 15 months.

  • Venture from Capital One

This is the card with no introductory APR but is best for travel enthusiast that offers 40,000 bonus miles when you spend $3,000 for first 3 months.

The credit cards are the most affordable tools that can add to your purchasing power.

Best Credit Cards if you are Carrying a Balance

If you are carrying a balance, these cards offer great added perk for unexpected purchase.

If you are looking for the best credit cards, here are some you can consider. It is easy to understand which credit card best suits your needs and lifestyle.

Personal Credit Cards Vs. Business Credit Cards

The above mentioned credit cards are all great examples of some of the best credit cards to use for personal reasons. If you're considering signing up for a business credit card, then you are likely looking for a card that will be covering your expenses for your business, freelance expenses, side jobs, etc. Both personal and business credit cards are similar in the way that they collect interest and can offer you rewards or points as a result of using your card. The main differences between personal and business credit cards are the increase in spending budget, APR periods, and tax deductions. 

A business credit card will generally come with a substantial increase in credit line or credit limit. Since you are using your card to fund your business instead of just personal use, it makes sense that you would be offered more of a credit limit in order to cover these purchases. In terms of APR periods, you'll find that the 0% APR introductory period may be significantly less than personal credit cards. So if you're looking to have more lenience in terms of fees, you'll probably want to go with a personal credit card. Lastly, business credit cards make it a bit easier to file taxes when the time comes, since there is usually some type of report that will generate to categorize your spending for the past year. This makes it easier to make tax deductions and save some money.

Top 3 Business Credit Cards

Ink Business Unlimited Credit Card

  • Pros: Unlimited 1.5% cash back rewards on qualifying purchases, no annual fee, welcome bonus, 0% APR introductory rate for first year

  • Cons: High foreign transaction fees, not great card for balance transfers

United Club Business Card

  • Pros: Travel benefits including Premier Access, welcome bonus of 75,000 miles for United Airlines, free employee cards, free United Club membership

  • Cons: Seat restrictions on saver flights, $75 fee to book a flight within 21 days of departure, high fees on award changes, $450 annual fee

Wyndham Rewards Earner Business Card

  • Pros: Welcome bonus of up to 90,000 points, Diamond Status, 8 points per dollar that you spend on gas, 5 points per dollar on utilities, offer of cell phone insurance

  • Cons: Not the best option for luxury travelers, no points offered for money spent on dining purchases, $95 annual fee