When you’re living in the US, many financial benefits come with having a credit card and taking advantage of the best offers available.
Even if you don’t have much money to spend, you can put your new credit card to good use by using it as your go-to payment method whenever you shop online or at brick-and-mortar stores.
With each swipe, you’ll earn cash-back rewards and collect valuable points that can be redeemed for discounts and other perks on your favorite brands
To help you choose the best credit card for your needs, we’ve compiled a list of the seven top offers available in the United States. We’ve also included a brief description of the benefits and features of each card.
Before you proceed, it is important to understand how blockchain and cryptocurrency technology is shaping the future of the worlds' financial industry. This is paramount to guide you on future financial decisions.
Understanding credit card offers and benefits
Credit card offers are the incentives credit card providers offer to entice prospective customers.
These can be in the form of reward points, cash back, low-interest rates, or other such benefits. There are many credit card providers that offer these incentives.
Credit cards can help you build your credit, earn rewards for everyday spending, and even take advantage of discounts.
With so many offers available, it's important to ensure you understand the card's features before applying.
Top 7 US Credit Card Offers and Benefits
One of the best things about credit cards is that they offer many different benefits. In fact, some people apply for a new card primarily based on the perks offered.
Whether you have a business or personal credit card, there are plenty of offers and benefits to take advantage of.
Knowing how to use the features of your card can help you save money on interest payments, avoid late fees, get cash-back bonuses, and more.
Here are the top seven offers and benefits for credit cards in America:
1. Cash Back
Many credit cards offer cash-back rewards for a variety of purchases. You may be able to earn up to five percent on grocery store purchases or as much as 25 percent at office supply stores.
Some cards even offer points that can be redeemed for airline miles. Take a look at what your card offers and pick the one that will provide you with the most savings based on your spending habits.
2. Interest Rates
If you're carrying debt on your card and using it often, then it makes sense to choose a low-interest-rate credit card.
However, if you don't plan on charging much or paying any interest, then it might make sense to go for a high-interest credit card so that you'll make more money off your balance when it's paid off.
To find out which is best for you, calculate the amount of time needed until the balance is paid off by adding the number of months until the balance is due.
Then divide this number by the APR percentage offered. Compare these two numbers to see which would be best for you.
3. Earning Points
One of the best ways to rack up points quickly is through sign-up bonuses. These usually require you to spend some money on your card within a certain amount of time (usually within three months) before you receive the bonus.
It's important not to go overboard when making purchases to reach these goals because otherwise, it could hurt your credit score.
4. Debt Settlement
If you're in over your head with credit card debt, then debt settlement may be a good option. Through debt settlement, you work directly with your creditors to settle a portion of your debt that is easier for you to pay off.
This is often done through either lump-sum or partial payment payments.
5. Sign-up bonuses
Sign-up bonuses are a popular offer and benefit for credit cards in America. Sign-up bonuses can be a great way to earn rewards, but it's important to read and understand the terms and conditions before you apply for a credit card.
Some sign-up bonuses have minimum spending requirements that can be difficult to meet, and others have annual fees that can offset the value of the bonus.
If you're considering a credit card with a sign-up bonus, be sure to research and compare offers to find the right card.
6. No annual fee
Annual fees are a major pain point for credit card users in America. A study by the personal finance website Nerdwallet found that 43% of respondents would be more likely to sign up for a credit card if it had no annual fee.
The fact that there is no annual fee is quickly becoming one of the best things about credit cards in America.
There are plenty of reasons for this change. Consumers are more interested in getting the most value for their dollar, and paying an annual fee doesn't always make sense.
Credit cards with no annual fee are a major perk for cardholders who don’t want to pay any monthly or yearly charges.
7. Zero Percentage APR
APR, or Annual Percentage Rate, is the interest rate charged on credit card balances. Most credit cards have an APR of around 15%, but some cards offer introductory rates as low as 0%. This can be a great benefit if you are planning to carry a balance on your card.
There are a few things to remember when considering a 0% APR offer. First, be sure to check the terms and conditions to see how long the introductory rate will last.
Most 0% APR offers last for 12 to 18 months, but some offers may be for a shorter or longer period of time.
Also, be sure to check for any balance transfer fees. Some cards will charge a fee to transfer balances from other cards, which can offset the benefits of a 0% APR.
With this offer, you will have more time to pay off your credit card balance without worrying about interest charges.
The other benefit of this offer is that it will help improve your credit score, making it easier for you to qualify for other loans in the future.
7 Best Rewards Credit Cards In America
One of the best things about credit cards is that they are an easy way to earn points, miles, or cash back on everyday purchases.
With so many offers to choose from, there's a card out there for everyone. Take a look at our list of some of the top credit cards in the United States:
- Discover it® Cash Back
- Citi® Double Cash Card
- Chase Freedom Unlimited®
- Wells Fargo Cash Wise Visa® Card
- Bank of America® Cash Rewards Credit Card
- Capital One® Quicksilver® Cash Rewards Credit Card
- American Express® Cash Magnet® Card
Tips For Using Your Credit Card
- Always pay off your balance in full each month to avoid interest charges, late fees, and other costs.
- Compare the annual percentage rates of different cards to get the best deal for you.
- Be aware of a card's credit limit, as this can affect your ability to make payments on time or at all. Make sure that there is no spending limit before you sign up for a credit card; if there is one, it will be spelled out in the terms and conditions of the offer.
- If you carry a balance from one month to another, consider applying for a low-interest or 0% APR loan rather than using your available credit line on your credit card.
- Shop around to see which company offers the best introductory rates and rewards programs before signing up with any one issuer.
- Never buy anything that you don't need just because you have a credit card.
- Never lend your card.
- Keep track of all purchases made on your account with an online service such as Mint so that they are easier to manage when the bill arrives.
Conclusion
Most people don't realize the many benefits of having a credit card. Whether you're looking for rewards, balance transfers, cash back, or low-interest rates, there's a credit card out there for you.
Before applying, consider your needs and whether any of these cards would be a good fit for you.