There isn’t a single “best” credit card for everyone, despite what a credit card business or commercial may claim.
The perfect credit card for you will rely on a variety of factors, including your credit score, debt level, and spending patterns. But finding the best card can be difficult with so many possibilities available.
Top 10 Credit Cards
1.Capital One Platinum Secured Credit Card
If you want to minimize the size of your security deposit while responsibly building your credit, this card is a wonderful choice.
One of the quickest credit line review periods for a card available at this credit level, you may obtain a $200 credit limit with just a $49 deposit and will be automatically reviewed for a higher credit line in as little as six months with on-time monthly payments.
Pros
1.One of the lowest required security deposits for a secured card is $49, which is particularly advantageous given that it still entitles you to a $200 initial credit limit.
2.To assist you in building credit, Capital One discloses your card activity to all three credit bureaus.
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Cons
1.Its ongoing value is considerably lower than secured cards that also earn rewards, and it has a higher interest rate than a number of other cards in this category.
2.Low starting credit limits are typically a result of low security deposits, which might negatively impact your credit use percentage.
2.Discover it Student Cash Back
The Discover it® Student Cash Back is one of the most profitable rewards credit cards available to students, thanks to its hefty rotating cash back program and first-year Cash Back Match. The rewards rates are actually the same as Discover’s premier rewards card.
Pros
1.For first-time cardholders, the low rates and fees of the card create a safety net. There are no annual fees, foreign transaction fees, penalty APRs, and even your first late payment is waived (late penalties after that can be as high as $41).
2.Purchases have a six-month promotional APR of 0% (followed by a reasonably low ongoing APR of 17.99% to 26.99%, variable). That’s a unique benefit for cardholders who just became independent, but it might be useful.
Cons
1.New users of credit cards could find the rotating bonus points program bewildering.
2.Even for a student card, its other features are minimal aside from the incentives and low fees.
3.Discover it Secured Credit Card
This card offers cash back in two of the most popular everyday spending areas restaurants and petrol stations and has one of the most generous rewards rates you can obtain on a secured card without paying an annual fee.
Additionally, it’s one of the few credit-building cards with a welcome bonus.
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Pros
1.You might be able to move to an unsecured version of the card in just seven months if you use this card responsibly to establish credit.
2.Newcomers to credit will like this card’s lenient terms: The first time you make a late payment, there won’t be an APR penalty or a fee (after that, there could be a $41 fee).
Cons
1.There must be a $200 minimum security deposit. Although that’s a typical starting point, other cards have a lower deposit requirement and can be a better fit if you want to avoid locking up a lot of cash.
2.If you end up carrying a balance, several competitive secured cards have lower ongoing APRs, which might be quite important.
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4.Capital One Platinum Credit Card
With this card, you may ignore rewards programs and glitzy benefits so you can concentrate on what really matters: improving your credit.
Unsecured cards for those with less-than-perfect credit frequently have a lot of fees, but this card has none, and after just six months, you could be eligible for a larger credit limit.
If your score rises, you might even be eligible to switch to a Capital One card that offers greater rewards in the future.
Pros
1.One of the quickest credit limit review periods you’ll find on a credit-building card is after just six months of responsible use, at which point you’ll be eligible for a larger credit limit.
2.For this card, Capital One will take into account applicants with FICO ratings as low as 580.
Cons
1.No matter their credit rating, all cardholders are given the 30.49 percent variable APR. Even for a card for someone with fair credit, it is a little too expensive.
2.This card’s long-term value in comparison to other credit-building cards may be constrained by the absence of a rewards program and other noteworthy benefits.
5.American Express Gold Card
Due to its high rewards rate at both international restaurants and American supermarkets two useful everyday categories that should make it simple to accrue travel rewards this card is a fantastic fit for foodies of all hues.
Amex points are also among the best incentives available, particularly if you transfer them to the correct airline partner.
Pros
1.When the enormous potential value of Amex points is taken into account, has one of the most significant introductory incentives available.
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Cons
1.For your credits to be worth more than one cent each, you’ll need to find the ideal airline or hotel transfer partner, which might be difficult for infrequent travelers.
2.If you’re searching for a low-maintenance card, there are many no-annual-fee cards that provide significant rewards rates on dining and grocery. These might be a better option for you.
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6.The Platinum Card from American Express
This card can be well worth the cost of entry if you’re a regular traveler searching for premium benefits.
The privileges it offers cardholders are unmatched, and they include extensive lounge access, credits for fast security checkpoints, airline incidentals, Uber, digital entertainment, and much more.
Pros
1.Provides a wealth of high-value advantages that, if you use them, can more than pay for the annual price.
2.Due to the issuer’s extensive network of airline and hotel transfer partners, Amex points are among the best travel incentives available.
Cons
1.The majority of the card’s specialized benefits and credits won’t be useful to regular cardholders. The card can end up costing more than it’s worth if you can’t fully benefit from it.
2.If you’re searching for a stand-alone rewards card to cover regular spending, it won’t make much sense because it only gets 1 point for every dollar spent on non-travel-related purchases.
