Best Credit Card 2022 – What Option To Choose?

Americans have dozens of credit cards. Some pay for gasoline, the second for groceries, keep separate ones for large stores. The cards have different terms. Some are profitable to use for small payments, others help to raise the credit rating to a normal level. You need to figure this out once, and then it will be clear whether you need a new card from another bank or not.

Credit card terms and rates

• APR is the average annual interest rate on a credit card. When you borrow money, you give it back with this rate. Often, the client is not charged interest if he manages to repay the loan on time, but there are still fees that are summed up in APR.
• Annual fee. Not all cards have it. This is a stable amount that you pay for using the card.
• The credit limit is the maximum amount of credit that you can withdraw from the card. Usually it is lower at the start, and then it grows along with your credit rating if you pay your bills on time.
• Grace period — the time during which you can pay the loan back without interest. Usually the bank gives 25-60 days for a refund.
• Transfer fee is a rate of the amount or a fixed price for transferring credit funds from a card to a card or bank account.
• Transaction fee is a rate of the payment when you buy something.
• Deposit — some cards are opened only if you have left a security deposit, that is, you have given the bank some amount that will not be refunded to you if you do not pay the loan. This is usually a card condition for people with a low credit rating.
• Additional fees — money or interest that you pay to the bank under additional terms.
• Cash back — when the bank returns part of the money spent to you.
• Rewards — rewards and bonuses for using the card.

Bank cards with cashback

Citibank Double Cash Credit Card with Universal Cashback

The main advantage of this card is its versatility. Cashback is not the biggest (2%), but it applies to absolutely all purchases.

An additional advantage is the Citibank Price Rewind minimum price guarantee program (payment of compensation for overpayment is limited to $1,000/year). As well as a number of consumer insurance, including against breakdowns and loss.

Card maintenance is free of charge.

Barclays Uber Credit Card to pay for restaurants

The main purpose of this credit card is to pay for restaurants and travel (hotels, flights, etc.). Cashback of 4% and 3%, respectively, is due for purchases in these categories.

Card maintenance is free of charge.

A bonus of $ 100 is provided for opening the card (the condition is to spend at least $ 500 in 3 months).

Chase Amazon Prime Rewards Credit Card

This card is for those who often order goods through Amazon and visit WholeFoods supermarkets (the chain was acquired by Amazon in 2017). Provided that the Amazon Prime paid service is connected (for $ 119/a year you get free delivery of goods on the second day, as well as a subscription to music and video content) cashback in all WholeFoods stores and on the Amazon website will be 5% (without it – 3%).

Card maintenance is free of charge.

A bonus of $ 70 is provided for opening the card.

Credit cards with the most attractive bonuses to new customers

Most American banks, in order to attract new customers, pay them impressive bonuses for opening credit cards. The most common condition is to make purchases with a new card for a certain minimum amount in the first 3 months. Depending on the size of the bonus (from $ 50 to $ 700), the user is invited to spend from $ 100 to $ 5,000 in 3 months.

The most attractive offers of American banks in 2019

Chase Sapphire Preferred Credit Card

A bonus in the form of miles, equivalent to $750, is provided for opening the card. The condition is to spend at least $ 4,000 in 3 months (many Americans open such cards on the eve of large planned expenses).

The cost of annual maintenance is $ 95 (after receiving the bonus, the card can be closed ahead of time).

Barclays Arrival Plus Credit Card

A bonus in the form of miles, equivalent to $ 700, is provided for opening the card. The condition is to spend at least $5,000 in 3 months. The first year card maintenance is free.

Capital One Venture Credit Card

There is a bonus in the form of miles equivalent to $500 for opening the card. The condition is to spend at least $3,000 in 3 months. The first year card maintenance is free.

Credit card in the USA without a credit history (best credit card to build credit)

If you don’t have a credit history, then you definitely need to start building it if you intend to live in America. Without this, you will not get any credit, including for studies, housing, in some cases, you will not even rent an apartment. You need to start building a credit history with the so-called ‘secured credit cards.

This type of card is issued to the borrower on a pledge (usually $200 – $300), which is refunded when the account is closed, and certainly if all expenses on the card were paid at the time. Thus, the bank insures itself in case of non-payments, from here the name of these cards is secured. The bank also imposes an annual payment on this type of card, which is usually lower for smaller and less well-known banks in America.