Best Cards by Category
Getting a best new credit card is nothing to be taken lightly. It’s an important decision that can have a significant impact on your overall financial stability. Different cards should be chosen for different purposes, and just because you know a certain card is a popular choice doesn’t mean it will be suitable for your particular lifestyle. There are many different credit cards that can be roughly divided into the following categories:
- Low interest credit cards
- Instant decision credit cards
- No annual fee credit cards
- 0% intro rate cards
- Balance transfer credit cards
- Secured credit cards
- Credit reporting cards
- No foreign transaction fees credit cards
- Shopping debit credit cards
- Reward credit cards
- Prepaid debit credit cards
- 100% approval credit cards
You can find a suitable credit card that will meet all your needs and be appropriate for your current financial situation – all you need to do is stay informed about your options.
Best Cards by Network
Many people find the terms “card network” and “card issuer” to be interchangeable, when in fact they are two very different things. The purpose of credit card networks such as Visa or MasterCard is to facilitate the exchange between the cardholder and merchant/store. This means that the card networks get to control where a certain credit card can be used, and which shops can accept which cards.
If you prefer using your best credit card while you’re traveling to foreign countries, for example, you’ll be better off getting a card from a globally accepted network, aka Visa or MasterCard. Keep in mind that credit card networks are only responsible for facilitating the transaction between you and the merchant – they have no control over the fees that you pay, or your credit card terms and conditions.
Credit Cards by Issuer
A card issuer is where you go to get your new credit card. Those are typically banks or credit unions that are partnered with different card networks and issue their cards.
So, Synovus Bank or Applied Bank would be your credit card issuers. They’re the ones who will financially back up your credit card, and they have control over:
- Approving and denying your application
- Paying for your transactions
- Collecting your payments
- Setting the interest fees
- Setting the terms and conditions
- Offering rewards and benefits
- Setting your credit card limit
Choosing the right credit card issuer is of utmost importance, as all your fees will depend on the issuer itself. All the rules and regulations depend entirely on the issuer, so make sure you’ve weighed all your options and collected all the information before you decide to go for a certain issuer.
Selected Cards by Credit
740-850
CREDIT RANGE
670-739
CREDIT RANGE
580-669
CREDIT RANGE
300-579
CREDIT RANGE
Limited / No Credit
When you have a bad credit score, or when you have no credit score at all, your life can get much more difficult and inconvenient. You’ll find it hard to get a loan, be approved for a mortgage, or even find a good apartment to rent. This is why certain card issuers offer you credit cards designed specifically for those with poor credit.
Keep in mind that not every issuer will have these offers for you, and some issuers might allow you to get a credit card with them, but offer you unfavorable terms and conditions. So, it’s important to do thorough research. Getting a credit card for poor credit from the right issuer can help you rebuild and strengthen your rating, especially when they report with all the major credit bureaus.
