Card Know How

The Best Credit Cards of 2021: Expert Recommendations

Credit cards have become a staple of modern life, allowing us to make purchases with ease and convenience. However, not all credit cards are created equal.

Some come with high interest rates and fees that can quickly add up, while others offer rewards and perks that can make our spending work in our favor. In this article, we will explore the factors that make for a good credit card and recommend some personal favorites recommended by employees.

Factors That Make for a Good Credit Card

When choosing a credit card, it is important to consider certain factors that can make a significant difference in your financial well-being. Let’s explore two key factors: low interest rates and fees, and rewards and perks.

Low Interest Rates and Fees

One of the most important factors to consider when selecting a credit card is the interest rate. A low interest rate means that you will pay less in interest charges if you carry a balance on your card.

It is always wise to choose a credit card with the lowest interest rate possible to save on finance charges. In addition to interest rates, it is essential to pay attention to the fees associated with a credit card.

These fees can include annual fees, balance transfer fees, cash advance fees, foreign transaction fees, and late payment fees, among others. To ensure that you are getting the most out of your credit card, it is essential to choose one with low fees or, ideally, no fees at all.

Rewards and Perks

Credit cards that offer rewards and perks can be an excellent way to make your spending work for you. Rewards can come in the form of cash back, points, or miles, which can be redeemed for travel, merchandise, or even statement credits.

Cash back rewards are particularly popular, as they allow you to earn a percentage of your purchases back as cash. Some credit cards even offer bonus cash back in specific categories, such as groceries or gas, allowing you to maximize your rewards.

These rewards can add up over time, providing financial benefits that can offset the cost of using a credit card. Perks can also make a credit card stand out from the crowd.

Perks can include things like airport lounge access, travel credits, concierge services, or even exclusive event access. These perks can add significant value to a credit card and enhance the overall experience for the cardholder.

Personal Favorite Credit Cards Recommended by Employees

Now that we have explored the factors that make for a good credit card let’s dive into some personal favorite credit cards recommended by employees. These cards have been selected based on their features, benefits, and overall value.

1. American Express Gold Card: The American Express Gold Card offers a variety of benefits, including a generous rewards program.

Cardholders earn points on purchases, and these points can be transferred to various airline and hotel loyalty programs. The card also provides food delivery credits and other dining perks, making it an excellent choice for food lovers.

However, it does come with an annual fee, so it’s important to consider if the benefits outweigh the cost. 2.

American Express Platinum Card: Another favorite from American Express is the Platinum Card. This card offers a wide range of travel benefits, including airline fee credits, Uber cash, and access to airport lounges worldwide.

Additionally, it rewards cardholders with points on travel and dining purchases, which can be redeemed for gift cards, travel, and more. However, it also comes with a high annual fee, so it’s essential to evaluate if the benefits align with your lifestyle.

3. Bank of America Customized Cash Rewards: The Bank of America Customized Cash Rewards card is an excellent choice for those seeking cash-back rewards.

With this card, cardholders can earn cash back on purchases, and the rewards can be customized to fit their spending habits. Additionally, the card offers access to BankAmeriDeals, which provides personalized cash-back offers for online shopping.

This card has no annual fee, making it an attractive option for those looking to maximize their rewards without additional costs. 4.

Capital One Quicksilver: The Capital One Quicksilver card offers straightforward cash-back rewards with no exclusions. Cardholders earn a flat percentage of cash back on all purchases, making it a simple and efficient rewards program.

Plus, there is no annual fee, and the rewards can be easily redeemed, providing flexibility and value. 5.

Capital One VentureOne Rewards: If you’re a frequent traveler, the Capital One VentureOne Rewards card may be the right fit for you. This card offers bonus miles on all your travel purchases, which can be redeemed for flights, hotels, and more.

With its flexibility in redemption options and the ability to earn miles per dollar spent, this card can pay for itself over time, making it a great choice for jet-setters. 6.

Capital One Venture Rewards: The Capital One Venture Rewards card also appeals to travel enthusiasts. With a significant sign-up bonus and easy points redemption, this card offers great value for travel-related charges.

Additionally, it provides travel accident insurance and coverage for lost luggage, enhancing the overall travel experience. 7.

Chase Freedom Flex: The Chase Freedom Flex card is known for its rotational cash-back categories. Cardholders can earn cash back on various spending categories that change every quarter, including popular stores like Target, Amazon, Walmart, and Kohl’s.

Additionally, the card offers cash back on dining services all year round, making it an excellent choice for those who frequent restaurants and enjoy different shopping experiences. 8.

Chase Sapphire Preferred Card: The Chase Sapphire Preferred Card is a favorite among travel enthusiasts. With its generous sign-up bonus, points earned on purchases, and the ability to transfer points to travel partners, this card offers significant value.

The card also provides a free DoorDash subscription and $100 per year in credit for travel-related purchases, enhancing the lifestyle benefits for cardholders. 9.

Citi Double Cash Card: The Citi Double Cash Card is a straightforward cash-back card that consistently rewards cardholders for every transaction. With a solid 2% cash back on all purchases, this card is an excellent choice for those looking for consistent positive rewards without category restrictions.

Plus, there is no annual fee, making it an attractive option for those seeking simplicity. 10.

Discover it Cash Back: The Discover it Cash Back card offers a rolling rewards program with up to 5% cash back on specific categories that change throughout the year. Cardholders can also earn cash back on all other purchases, making it an attractive option for maximizing rewards.

Additionally, Discover it Cash Back offers unique benefits, such as cash back match at the end of the first year and 5% cash back on Amazon purchases during the holidays. 11.

Discover it Miles: If you prefer a simple rewards structure, the Discover it Miles card may be a good fit for you. With unlimited 1.5 miles per dollar on all purchases and no annual fee, this card offers flexibility and value.

Cardholders can redeem their miles for travel purchases or choose from various redemption options, enhancing the overall experience. 12.

Southwest Rapid Rewards Plus: For frequent travelers on Southwest Airlines, the Southwest Rapid Rewards Plus card is an excellent choice. With its generous rewards program, cardholders can earn points on purchases that can be redeemed for flights, hotel stays, and even a companion pass.

While it does come with an annual fee, the value of the rewards and perks can outweigh the cost for those who frequently travel with Southwest. In conclusion, choosing the right credit card requires careful consideration of various factors.

Opting for a credit card with low interest rates and fees can save you money in the long run, while a card with rewards and perks can make your spending work in your favor. Personal favorite credit cards recommended by employees offer a variety of features and benefits, catering to different lifestyles and preferences.

By selecting a credit card that aligns with your spending habits and financial goals, you can maximize your benefits and enjoy the perks of responsible credit card usage. In conclusion, choosing a good credit card is vital for financial success.

Factors such as low interest rates and fees, as well as rewards and perks, play a significant role in determining the value of a credit card. By considering these factors and exploring personal favorite credit cards recommended by employees, individuals can find a credit card that aligns with their needs and preferences.

The right credit card can save money through low fees, earn rewards that offset costs, and provide valuable perks. With careful consideration and research, individuals can make the most of their credit card usage and improve their overall financial well-being.

Remember, choosing the right credit card is not just a financial decision, but a strategic one that can have a significant impact on your financial future.

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