6 Best Credit Cards of December 2022

The cards we select also provide numerous additional benefits, such as annual statement credits, sign-up bonuses, discounts at select retailers, insurance and more that make using a credit card truly worthwhile. These cards can be a great way to save money, especially since the average American spending budget is around $22,126 a year, according to the spending data available from Esri. Having more than one or two credit cards can be a good fit for most people as a credit card allows you to establish credit history. A good credit history over time will save you money as it can help you qualify for lower rates on other types of loans, https://www.wave-accounting.net/ like mortgages, auto loans or student loans. Since many rewards cards offer tiered rewards in different areas of spending, for someone with a careful strategy of pairing rewards cards, it can be more beneficial than just one card. Second, the research contributed to the literature on consumer behavior by confirming the impact of perceived risk on the intended use of credit cards, which most previous studies have not demonstrated. Finally, the research findings provided an empirical evidence as theoretical contribution to the academic research platform on e-banking services in Vietnam, especially related to the credit card industry.

Earn bonus cash back in popular categories, including dining and some travel, plus a relatively high rate on everything else. Unlimited 2X miles on purchases, plus a great bonus offer and an expanding array of perks. If you only stay at Hyatt or only shop at Pottery Barn, it may make sense for you to pick up a co-branded credit card for that store, airline or hotel chain.

Best for travel perks: Capital One Venture X Rewards Credit Card

It’s good to have a backup in situations where one card isn’t accepted. Additionally, if a card is lost, stolen or compromised, you’ll have another option while you wait for a replacement. If you meet the issuer’s requirements, your application is approved. When you’re looking to build or restore credit, several features are more important for you than for people who already have good credit. You usually have to pay for your service with your card to qualify. To get a card when you might not otherwise be able to, such as by avoiding a credit check.

• The flagship card from Hilton, the Hilton Honors Aspire Card from American Express comes with a price tag to match its top-tier status and perks.
• The card comes with minimal perks if you’re wanting additional benefits for when you travel.
• Earn bonus cash back in popular categories, including dining and some travel, plus a relatively high rate on everything else.
• If a card earns 3X points or miles on a certain purchase, spending $100 would net you 300 points or miles.

It’s possible to open a business credit card with a sole proprietorship. No matter what type of business you have, it’s smart to compare offers. Applying for a credit card results in what is known as a hard pull on your credit, which temporarily dings your score each time. For that reason, you don’t want to apply for another card immediately after you’ve been denied. If you fail to report stable or regular income in your application, the credit card issuer may ask for proof of income or deny your application.

How We Calculate Average Rates vs. the Fed

You’ll enjoy 0% intro APR for 15 months on balance transfers and purchases. After, the variable APR will be 17.74% – 27.74%, based on your creditworthiness. Blue Cash Preferred offers an impressive 6% cash back on the first $6,000 spent at U.S. supermarkets . If you’re spending more on grocery runs, then you know how those bills can add up. The Blue Cash Preferred offers an easy way to maximize those purchases with a low annual fee.

• You can even potentially get more value if you transfer Chase points to Chase’s travel partners, like Hyatt hotels and United Airlines, and book business-class flights and luxury hotels.
• Chahal et al. and Dali et al. posited credit card’s non-stop usability in numerous electronic devices.
• Not all credit cards charge an annual fee, but many of those that do will offer rich rewards and other perks in return.
• Varaprasad et al. argued that the bank’s efforts make consumers choose credit cards even if they are afraid of un-expectations caused by this type of payment instrument.

Capital One has its first premium credit card — and for a lower $395 annual fee. There’s a solid sign-up bonus of 75,000 bonus miles when you spend $4,000 on purchases in the first three months from account opening. If you don’t have the flexibility to tie up a large security deposit for several months, unsecured credit cards for bad credit are another means of building credit. The quality of these cards will be a bit higher if you can comfortably apply for a credit card with fair credit, but it’s important to carefully read each card’s terms and conditions. Students — Unlike secured cards and other credit-building options for people with limited credit, student credit cards are only available to students. Student cards’ lenient rates and fees, $0 deposit requirement, student-oriented perks and rewards make them perhaps the best cards available if you want to build credit history.

Mastercard® Titanium Card™

Before you apply for a credit card, check its current terms and conditions with the issuer. Whether you want a cash-back card that offers simple rewards, a card that provides perks for travelers or a suitable card for students, small-business owners or shoppers, you should be able to find a satisfying option here. The survey was conducted by using 724 respondents selected through convenient sampling of Vietnamese bank customers, who are potential customers encouraged by the bank to register and use credit cards. Only 485 responses were valid and usable, yielding a valid response rate of 67% among volunteered participants. With 46 observed variables, the required sample size is from 138 to 230 . Based on collected data, both exploratory factor analysis and confirmatory factor analysis are conducted to select and arrange the significant variables to particular factors (Byrne, 2010; Hair et al., 2014). Finally, structural equation modeling is used for building the model of determinants of the intention to use credit cards (Anderson and Gerbing, 1991; Byrne, 2010).

If you’re approved, the next step is to make sure you understand the card’s terms and conditions, listed in the fine print of the cardmember agreement. Maximizing credit card rewards can be done both while earning and redeeming. Cardholders receive a Priority Credit Card 2020 Pass lounge membership, access to Capital One lounges and a Global Entry or TSA PreCheck application fee credit after paying for the application fee with the card. Thinking about getting The Disney Bundle which includes Disney+, Hulu, and ESPN+?

How do credit card rewards work?

APR is a card’s annual percentage rate over the course of a year. A balance of $10,000 with an APR of 17% would accumulate $1,700 in interest. But since most credit cards use an average daily balance method to calculate interest, it can be an incomplete view to look at a card’s APR and try to estimate how much you’d pay in interest. The Capital One Venture X Rewards Credit Card, launched in November 2021, was a big shake-up to the travel card market. It offers benefits similar to other premium travel rewards cards with a lower annual fee—making this card a great option for even the occasional traveler.

For example, airline cards typically provide a discount on in-flight purchases (like food, beverages and Wi-Fi), priority boarding and free checked baggage. Higher-tier airline cards may also provide an easier path to elite loyalty status or brand-specific lounge perks.