There are many different credit cards available. If you have never applied for one of these items before, you may be confused about the various types you have to choose from.
Credit cards are useful for many different reasons. In fact, you almost always need a credit card to help you build your credit score, which can help you secure low-interest loans in the future.
However, many people are hesitant to apply for credit cards because they are not sure how they work.
To help make credit card offers more appealing, companies usually include different benefits with certain cards.
For example, some cards allow you to redeem points for each item you purchase with the card, which you can then use to obtain rewards or other discounts.
Depending on the card you have, you can use these rewards for airline miles or cash. Regardless of your financial goals, there is a credit card offer that can benefit you.
Consider Getting a Small Business Credit Card
Different banks offer credit card options that are only available to business owners.
If you own a small business, your initial startup and operating costs can be substantial. In any case, smaller businesses likely do not have the credit portfolios they need to receive corporate cards.
This can cause issues, especially if you do not want to or cannot use your personal credit card for business-related purchases.
Before you sign up for a business card, remember that any debt incurred through the card will be charged to you.
This means that even if your business closes, you are still responsible for paying any balance that remains on the card.
If you decide you are comfortable with this risk, consider applying for a small business credit card. The following options offer major benefits to cardholders:
- Chase Ink Business Preferred – If you already bank with Chase, you may want to apply for its Ink Business Preferred card. One of the major draws of this card is the one-time sign-up bonus of 80,000 points. You would receive this once you meet the card’s minimum spending amount within the first three months of having the card.
- Business Platinum Card from American Express – If you travel frequently for business, you may want to apply for American Express’ Business Platinum Card. While you are responsible for paying a $595 annual fee for this card, you can receive five times the points on any prepaid hotels and flights you buy with this card.
- Capital One Spark Cash for Business – If you want a card that offers a cash back option, Capital One’s Spark card is a good option. With this card, you will receive two percent cash back for each purchase you make with the card.
How can I find Balance Transfer Credit Cards that are right for me?
If you have substantial credit card debt, you may consider transferring the debt you have on one card to another one.
This is referred to as a balance transfer. Depending on your circumstances, balance transfers can be a helpful way to manage any outstanding credit card debt you have.
This is especially true if one of the credit cards you have has a high interest rate you are struggling to pay each month.
Usually, cardholders open another credit line and make balance transfers to new credit cards. One of the reasons this is a popular option is because many credit cards offer zero annual percentage rates (APRs) during the first year that individuals have the cards.
Furthermore, many credit card companies offer balance transfers for free. Therefore, individuals who plan to pay off their debt within a year can benefit from a balance transfer card.
There are many different cards you can use to transfer your debt to. Some popular cards that offer the most benefits, such long periods with no APR, include:
- Wells Fargo Cash Wise Visa Card.
- Citi Double Cash Card.
- Chase Freedom Unlimited.
What is the Best Credit Card for Travel Miles?
One of the most popular types of benefits credit cards offered relates to travel. With the right card, cardholders can obtain flights, cruises, hotels and tour excursions for major discounts.
In some instances, points can even be redeemed for free trial.
If you are a frequent traveler, you may want to consider applying for a credit card that is known for its travel benefits.
Likewise, you may want to look for cards that offer significant point-building opportunities for travel-related purchases. Some of the most appealing cards with the greatest potential for benefits are:
- Chase Sapphire Preferred Card – If you are looking for a flexible travel rewards card, Chase’s Sapphire card may be the best option for you. Unlike cards that are connected to specific airlines or hotel chains, you can redeem your Chase rewards points with many different partners.
- Capital One Venture Rewards Credit Card – If you frequently book hotels, the Capital One Venture card can help you save money. Depending on the website you use to make your reservations, you could earn 10 miles per each dollar you spend. However, airline benefits are not as specific.
- Wells Fargo Proper American Express card – This card does not have travel-related perks, but it does offer benefits you can redeem for travel expenses. In addition, this card does not have an annual fee, which makes it an appealing option.
How can I find 0 APR credit cards?
If you will carry a balance on your credit card, you may want to find a card option that has a zero percent APR.
This means you will not need to pay interest for as long as you have this APR. Usually, a zero percent APR is offered during the first year you have a card.
However, you may be able to find options that maintain this rate for longer.
Often, cards with low APRs will also be good options to use if you need a balance transfer card. In any case, examples of cards that do not charge interest for a significant period of time are listed below:
- The Discover it Balance Transfer card offers a zero percent APR for the first six months you make purchases.
- The Capital One Quicksilver Cash Rewards Credit Card offers a zero percent APR for the first 15 months.
- The Chase Freedom card has no APR during the first 15 months.