The Best and Worst Credit Card That Can Save or Waste Your Money
- JAI RAWAT
- Jan 18, 2016
- 2.8K Views
- Travel Tips
Choosing the perfect credit card is a hard job, so we decided to make it a bit easier for you. So here it goes the good, the bad and the ugly of the credit world!
1. The Chase Sapphire Card
When looking at the Chase Sapphire card we have to keep in mind that it has one of the most amazing sign-up Bonuses that any company offers. You can earn 50000 bonus points after you have purchased 4000 Dollars’ worth commodities in the 3 months from the opening account. It also gives you 2 reward points on every dollar that you spend on hotel and restaurants and one point for money spend elsewhere.
Benefits: No introductory fee
Drawback: Lacks some airplane perks and privileges that are available with other companies.
2. Citi ThankYou Premier Card
Citi ThankYou Premier Card gives you an instant reward of 50,000 points if you have spent 3000 dollars in the first 3 months’ worth up to 625 dollars for airfare. You can earn 3 points for every dollar spent on gas or travel related costs and also a 2 point system for every dollar spent at a restaurant or entertainment center. You can get 1500 bonus points for every 100 point you transfer
Benefits: If you are a Hilton HHonors program member
Drawback: There is no intro APR
3. BankAmericard Travel Rewards credit card
BankAmericard Travel Rewards credit card has become popular basically because of its no foreign transaction fee benefit. This is most suited who travel internationally on a regular basis. The reward system is 1.5 points for every 1 dollar spent. The sign up bonus is 20,000 if a person makes a purchase of 1000 dollars in the first ninety days of the issue of the card.
Benefit: You also get a 10% dividend on the points that you have earned
Drawback: Comparatively lesser points per dollar ratio
4. Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card is possibly the most easy to use and simple cards out there. The reward system works in a way where you receive 2 miles per dollar that you spend on everything. The introductory fee for the first year is free but is 59 dollars after that. You also get a bonus of 40000 miles on spending 3000 dollars within the first 3 months.
Benefits: Signing bonus and low annual fee
Drawback: Lesser airline specific perks
5. Barclaycard Arrival Plus World Elite MasterCard
A more versatile card in the range is the Barclaycard Arrival Plus World Elite MasterCard which gives you the benefit of earning 2 miles per dollar spend and does not restrict your boundaries to specific hotels or restaurants. This card may be the best for international travellers as it does not have any foreign transaction fee.
Benefit: No Foreign transaction fee
Drawback: A 3% Balance transfer fee is charged
6. Starwood Preferred Guest Credit Card from American Express
This card gives you a generous signing bonus of 25000 Bonus star points if you have spent 3000 dollars within the first three months. The card lets you enjoy luxury how it should be, meaning Starpoints also depend on the hotel that you book. So if you booked for example Sheraton the third night would be basically free.
Benefit: You get gold status if you spend 30000 dollars in the year
Drawback: It is not widely accepted as Visa or Mastercard.
7. BankAmericard Travel Rewards Credit Card
The card rewards you with points that can be redeemed for travel purchases. A reward of 20,000 online points is also given if you spend 1000 dollars in purchases within 90 days of the opening of the account. The 20000 points can be considered as 200 dollar statement credit towards travel purchases.
Benefits: No annual fee
Drawback: The reward system is inferior compared to other cards
8. British Airways Visa Signature Card
British Airways Visa Signature Card gives you a 50000 bonus after you have made purchases of 2000 dollars in the first three months. You also earn 3 points for every dollar that you spend on other purchases adding to your point total.
Benefits: Smart chip technology easy to use on chip based devices, terminals
Drawbacks: The annual fee is 95 dollars
9. Barclaycard Arrival World
An easy to use card this is a boon for all those who want to be cost effective travellers. 20000 miles are given after spending 1000 dollars in the first 90 days of the activation of the card. The card is best for travellers as it has no annual fee and no foreign transaction fee. The reward system is that you earn double points if you spend your money on hotels or on restaurants.
Benefits: No annual fee and no foreign-transaction fees
Drawbacks: Only for mild to low spenders may benefit most as the rewards are related for efficient travel
10. Marriott Rewards Premier Credit Card
Marriott Rewards Premier Credit Card offers a lucrative 50,000 bonus points after you purchase things worth 2000 dollars in the first three months. As it is a Marriot Reward card you will earn 5 points for every dollar spend at any of the 4,000 Marriot locations.
Benefits: Enjoy the benefits of unlimited points
Drawbacks: Annual fee of 85 Dollars that you must pay in the first year
So here was a list of the best credit cards for avid travellers, but now we come to the section of credit card you would want to avoid as there are many better cards available.
1. CorTrust Bank Visa Business Credit Card
The CorTrust Bank Visa Business Credit Card has a major disadvantage in comparison to its competitors as the card charges a 9 dollar annual fee. One more thing is that the card does not give you any type of rewards.
2. UBS Preferred Visa Signature Credit Card
The annual fees to have the card is 495 dollars per year and the card holder in return gets a point each time he/she spends a dollar. Though the reward system is not that bad but there are many other better options available.
3. First Premier Bank Gold MasterCard
The First Premier Bank Gold MasterCard requires a 95 dollar fees to open up an account. So the privilege of just holding the card will cost you around the value of 200 dollars. In addition, a payment has to be paid annually that makes this card an expensive one.
4. US Bank College Visa Credit Card
The card that was made basically for people in college and does not offer any great packages or reward. Additionally APR as high as 20.99% can be charged hence it is not advisable to take this card.
5. Toyota Credit Card
Simply put, Toyota Credit Card is a very expensive affair. The intro rate is 3.99% for the first month and then the APR which can be close to 12.99% to 29.99%. There are many other card that provide you a much better offer and APR rtes.
6. Royals Credit Card
The Royals Credit Card has an initial APR of 3.99% and also the transferred debt APR can go up to 20.24 %. There is also an astonishing 5% balance transfer fee and so this does not make a good option to go for.
7. Credit One Bank Platinum Visa
So, the Credit One Bank Platinum Visa gives you one percent cash back on your purchases. But then perhaps the biggest drawback with this card is that it still charges annual payment in monthly installments. This means no matter how much you use the card the annual charge will occur.
So that was the best and the worst of all the cards available out there. Did we miss any card that you love? Or any card that annoys you? Please tell us in the comment section