How to Pick the Best Credit Card?

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How To Pick The Best Credit Card
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Credit cards have become a very popular way to
meet immediate financial expenses. There are many
companies that offer a number of benefits with
their credit cards. And even exciting credit
cards are available for bad credit. As per a
data released by the American Banking Association
in April 2018, there were 364 million credit card
accounts in the USA by the end of 2017. 185
million accounts belong to the super-prime
consumers whereas 104 million accounts belong to
prime consumers and 75 million credit cards are
used by sub-prime users.
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Key points to consider before applying for a
credit card

• To know which credit card is best for you,
  you must keep the following into consideration
  before opting for one
• What are you expecting from your credit card-
•  Well, credit card companies offer you cards
  for different purposes, for example, you have a
  credit card for travel, cards for entertainment,
  cards for dining, credit cards that have no
  charges on foreign transactions and much more.
  So, before you apply for your best credit cards,
  it is important that you must first check your
  requirement and based on it, prepare a list of
  credit cards that will be in your best interest.

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Do you really need a credit card-  Many a time
it happens that we get going with the flow and
since everyone around us is buying credit cards,
we also do the same. But this decision may often
leave you with the burden of repayment. The
credit card comes with repayment and interest
rate, so you must first check whether or not you
would be able to repay the same or else holding a
credit card becomes a liability. This sometimes
increases so much that the credit card holder has
to take a loan to clear it off. Credit
Score-  Before filling out the credit card
application make sure you check your credit
score. Companies issuing credit cards often
consider credit score before they decide to offer
you credit card.  Once you know your credit
score, you can apply for the credit cards which
are likely to get approved.
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Benefits offered by the cards-  Credit card
offers are lucrative, some come with competitive
interest rates, and some have no annual charges,
while there are some which have an impressive
reward points system. Make sure that while
shortlisting the cards, you consider all these
points and then come to a conclusion. The
interest rate-  APR or Annual Percentage Rate is
the interest rate that a credit card has. It can
be fixed or variable which is tied to another
financial indicator, mostly prime rate. The fixed
interest rate credit card is the same from month
to month while with a variable interest rate, it
fluctuates. Think for the one which will be
helpful for you and apply for the same. Credit
limit-  If you are a person who actively uses a
credit card, then the credit limit plays a key
role in the same. Some cards offer a limited
range while there are cards that have a higher
credit limit. Remember, overspending will put you
under the burden of repayment and if it is not
done on time, then you may be charged penalty and
it will also affect your credit score
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Cashback-  This is another lucrative deal that
credit cards offer. You get the money refunded
based on how much you spend. But, first, you need
to check whether or not you qualify for the
credit card offer or cash back. An important
point to note here is that the card will have
cash back only when you pay the balance in full
each month. Fees and penalties-  One of the most
important factors that you must consider before
choosing a credit card is to see the fees and
penalties. Some of the common charges that you
must look at include fees for transactions, cash
advances, balance transfers, overseas transaction
cost, fees for duplicate statement, card
replacement fees, cash withdrawal on credit card,
card replacement fee, etc.  Most of the credit
card companies lure you with their offerings and
in a hurry to get the card, we tend to ignore
these charges. So, dont make haste while
choosing the card, ask the company about the
same.
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Advanced Features-  See if the credit card
company you are choosing is ready to provide you
with the advanced feature for card protection
like electronic chip protection, bio-metric
cards, no duplicate holograms, anti-phishing and
online fraud system. Balance Transfer-  While
choosing credit, apart from the above-mentioned
factors, you need to also consider the balance
transfer feature offered by the card. Some of the
key factors that you must consider include
The current rate of payment Ask the credit card
company provider if they have an introductory APR
offer What would be the rate you need to pay
after introductory APR offer expires. Is there
any fee that you need to pay when you transfer
all or a part of your balance to the new card.
This is also known as balance transfer fee.
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Most Popular Credit Cards For 2019
S.No. Name of the Card Annual Fee APR Key Feature
1   Chase Sapphire Preferred Card There is no annual fee for the first year, and then the user has to pay 95 per year. 17.9924.99 (variable rate) This is an excellent card for those looking for reward points. For every 1 spent on travel, you will earn 1 point. You will also make 1 point per 1 spent on other purchases. You also earn 25 more when you redeem the points while travelling through this card.
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S.No. Name of the Card Annual Fee APR Key Feature
2 Capital One Venture Rewards Credit Card   There is no annual fee for the first year, and then the user has to pay 95 per year.   14.24, 22.74 or 26.24, the interest rate depends on the credit score of the user. This is one of the best choices when you are searching for the travelling card. It allows transfer of miles to more than 10 associated airlines making you earn the benefits. The more you travel, the better are the rewards. For every dollar spent, you earn 1.25 miles. You can redeem these points by while paying for purchases on the card.
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S.No. Name of the Card Annual Fee APR Key Feature
3 IHG Rewards Club Premier Credit Card 89 17.99 - 24.99 (Variable rate) This card entitles you to get 10 complimentary airport lounge visits every year after you make one-time signup with Priority Pass Select. The user also gets to earn a weakened stay after he/she has spent 15,000 on the card in a year.
4 Citi / Advantage Platinum Select World Elite Mastercard The user needs to pay 99 for the first year. 18.24 to 26.24 based on your creditworthiness This card offers no foreign transaction fees. The card also enables the user to enjoy preferred boarding on American Airline Flights. You can also save 25 on the food and beverages purchased in the flight.
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S.No. Name of the Card Annual Fee APR Key Feature
5 Southwest Rapid Rewards Priority Credit Card 149  17.99 - 24.99 (Variable rate) The card lets the user earn 2 points per dollar spent with Southwest Airlines and with Rapid Rewards airline. You get a 20 rebate on inflight purchase done using this card. You can earn 40,000 points on spending 1000 in the first three months of purchasing the card.
6 Discover it Cash Back No Annual Fee 13.99 - 24.99 (Variable rate) If you are looking for a card that offers good cash back offers, then Discover it Cash back cards are the best. The card offers 5 cash back on various categories. These categories keep on changing every quarter. This 5 cash back rate is limited to the first 1500 purchases.
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S.No. Name of the Card Annual Fee APR Key Feature
7 Chase Slate No Annual Fee 16.74 - 25.49 (Variable rate) This no annual fee credit card is the best for those who are looking for interest payment relief. It is one of the best choices that you can make for balance transfer. While other cards may charge you with a fee for a balance transfer, the Chase Slate card offers free balance transfer during the first 60 days of opening of your account.
8 Discover it Student Cash Back 14.99 - 23.99 Variable No Annual Fee This card is the best for the students as it offers 5 cash back on various categories through the year.
9 Wells Fargo Propel American Express Card 14.74 - 27.24 variable No Annual Fees No you get to earn 30K bonus points when you spend 3,000 in purchases in the first 3 months. This 3X point works for dining out, gas station rideshares and transits. The user also earns 1X points for other purchases
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S.No. Name of the Card Annual Fee APR Key Feature
10 Citi Simplicity Card 16.24 - 26.24 variable No Annual Fees If you are looking for a card that charges no late and penalty fees, then Citi Simplicity card is an excellent choice.  
11 Chase Freedom Unlimited 16.99 - 25.74 variable No Annual Fee The user gets 1.5 cash back on every purchase. You also get to make 150 bonus after spending 500 on the purchases done in the first three months of account opening.
12 Capital One Savor Cash Rewards Credit Card 16.74 - 25.74 variable 95, waived first year This is again an excellent choice for those who are looking for cash back and rewards. The card lets you earn one-time 500 cash back on purchase of 3000 in the first three months. Moreover, you can make 4 cash back on dining and entertainment, and the card offers 2 cash back on grocery purchases and 1 on all other purchases.

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S.No. Name of the Card Annual Fee APR Key Feature
13 Blue Cash Everyday Card from American Express 15.24 - 26.24 variable No Annual Fee Get 150 statement credit after you spend 1,000 in the first three months of getting the card. You also get 2 cash back at U.S. gas stations 1 back on other purchases.
14 Bank of America Travel Rewards credit card No Annual Fee 16.99 - 24.99 (Variable rate) For the lovers of travelling this is a good choice. It lets you earn 1.5 points for every dollar spent on all the purchases. The card doesnt charges any foreign transaction fees and also the points dont expire.
15 Ink Business Unlimited? Credit Card No Annual Fee 15.24 - 21.24 (Variable rate) Those who are looking for business credit card, getting Ink Business Unlimited credit card is a good choice. You can earn a bonus of 500 after spending 3000 on the purchases done in the first three months of opening of account. You also earn 1.5 cash back on every purchase done for your business.