Top 3 reasons to get a new credit card -
[UPDATED: October 29, 2015]
Thinking about getting a new credit card, or just looking? We have implemented the main reasons you need to purchase a new card and the best cards out there.
# 1. Earn rewards FASTER THAN YOUR CURRENT CREDIT CARD
It is likely that you have not paid much attention to how your credit card rewards you going for shopping. In fact, many so-called "reward" cards have delicate formulas, limits on the amounts that you can win and the rules that require you to sign up for special quarterly rewards. Often what looks like a bargain may leave you a lot less than you can do with a better card.
We looked high and low for the best reward credit cards, to investigate all of the above there cards. From all our research 2 credit cards rose to the top of the heap of reward cards:
Barclay Arrival more World Elite MasterCard
If you like traveling, component software plug this card up. Barclay arrival more World Elite MasterCard offers 2 miles per dollar spent on all purchases and a 40,000 juicy bonus miles after spending $ 3,000 within the first 3 months ( equal to $ 400 in travel ). Add to that no foreign transaction fee and you have yourself a great rewards card. There is an annual fee of $ 89 which waived the first year, but most people earn enough rewards by using the card to more than make up for it.
It is easy to use the miles you earn, too. Just use your card to pay for travel as you wish - with a travel motor airline, hotel or discount - then redeem your miles earned statement credit title to all or part of your travel purchases. You will also have a return bonus 5% miles when you travel as redemption, giving you actually 2.1 miles return per dollar spent. Add it all, which is our senior card rewards.
Blue Cash Card from American Express preferred
On the market for some generous cash back and extra goodies? You will get a bonus $ 150 cash back after spending $ 1,000 within the first 3 months of having the Blue Cash Preferred from American Express (NextAdvisor a seller). That's a good amount of dough to make your regular purchases! You will also gain a brilliant 6 % cash back at supermarkets (a maximum of $ 6,000 of purchases per year), 3 % cash back gas stations and in some large JCPenny stores like Sears and Nordstrom, and 1% cash back everything else. And if you want to delay paying your purchases, there is a 0% APR for 15 months on purchases and balance transfers. There is an annual fee of $ 75, but the spending habits of most people during the year will pay for it, plus give you more money. If you prefer a cash back card has no annual fee and a staff of 2% cash back on all purchases instead of specific categories, take a look at the Double Cash Card Citi (NextAdvisor a seller).
# 2: save money by paying $ 0 Interest FOR 18 MONTHS
Need to make a big purchase or purchases, but can not not pay right away? Or already paying interest on a credit card balance? The financially wise thing to do is to get a card that offers a NO interest period so that you can pay off the balance without paying a fee. These cards are essentially equivalent to an interest-free loan, and you will save a ton of money.
Citi Simplicity Card
Can you 0% Intro APR for 18 months? With the longest 0% APR period all balance transfer cards that we have seen, Citi Simplicity (a NextAdvisor seller) offers 18 months 0% Intro APR on all purchases and transfers balance. Guests can also enjoy no late fees and no annual fee.
Slate from Chase
With NO balance transfer fee , a long 15 months 0% APR on balance transfers and purchasing, and no charge annual, Chase Slate is a great balance transfer card. Not only will you save money on interest charges during the 0% intro Apr 15 months period, but you will also be able to transfer your balance to the card (in the first 60 days) without paying money. This is a rarity in the world of credit cards, and yet another huge money saver that offers card. It is a great tool to save money on holiday purchases you may have persistent on your other credit cards.
# 3: IMPROVING YOUR SCORE CREDIT
Whether you are new to the credit of the world or just to improve your credit score, getting another card credit can help. Indeed, another credit card will add to the total amount of revolving credit you have and help your credit utilization ratio. This ratio is basically just how much credit you have in relation to the amount of the credit you use. So if you have $ 10,000 in available credit and use $ 5,000 of it to your credit utilization rate is 50%. Now, if you get another credit card with $ 5000 in your total credit credit will increase to $ 15,000, bringing your credit utilization rate to 33%. Since up to 30% of your credit score is based on whether you have maximized your total credit line, get another credit card can help improve your score. Just remember not to get too many new credit cards at a time as it may appear as if you need credit, which could cause your credit score to dip.
There are even cards for people with limited credit or past / current credit issues that can help you improve your credit score with regular payments and timely against your balance.
Barclay Rewards Mastercard - average credit
Have average credit? Look no further than Barclay Rewards Mastercard - Average Credit. Designed specifically for those with the means just credit (estimated as between 600 and 680 on the scale FICO® Score) it has a solid rewards program . Users earn 2 points for every dollar spent on gas, groceries and utilities and 1 point per dollar on everything else. You will also Free FICO® scores , a great way to keep a permanent eye on how your credit score is doing. There is no annual fee, and reports to all 3 credit bureaus offering you the opportunity to rebuild your credit.
Capital One Secured Mastercard
You poor or limited credit? This is the card for you. Capital One Secured MasterCard is a secured credit card available to those with less-than-perfect credit . A secured credit card, or a "guaranteed" by a deposit put you to receive it. By making regular payments on time and against your monthly balance, you can help rebuild your credit. Indeed, Capital One reports to all 3 credit bureaus to let them know about your financial behavior (hopefully) responsible. There is an annual fee of $ 29, but that is a price low enough to not only get a credit card with bad credit, but also get one that can help repair your credit problems in the past.
Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and has not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated by the sending credit card affiliate program.