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Choosing a credit card can be hard. There are hundreds -even thousands- of card options out there from large banks to small banks to banks over seas. Each year we publish the top credit card offers by our partners to help consumers narrow down countless card options to about a dozen. Each of the offers below are from large banks because we believe the number of customers you have is a direct reflection of a companies credibility.
The credit cards in each category were determined by a set of calculations and specific factors relating to their category. So here are the top consumer credit cards by category for 2015:
Top Cards for Balance Transfers
1. Chase Slate® – This card is my favorite of all the balance transfer credit cards because it’s the only one on the market offering 0% APR on the balance transfer, in addition to no balance transfer fee! That’s right; if you perform a balance transfer in the first 60 days of card membership, you pay no fees for the transfer, which is usually 3% or $5. Chase Slate offers 0% APR on purchases and balance transfers for 15 months and comes with no annual fee.
2. Citi Simplicity® MasterCard - This card is currently offering the longest 0% APR duration of 21 months on both balance transfers and purchases. That gives the cardholder a year and a half to pay their balance off without paying a penny in interest, but it does come with a balance transfer fee of 3% or $5, whichever is greater. Citi Simplicity is catered specifically for balance transfers and paying no interest, so it doesn’t come with a rewards program. This card has no annual fee.
3. Citi® Diamond Preferred® Card –Another Citi card, the Citi Diamond preferred Card now comes with pin and chip technology and also offers one of the longest intro periods; 21 months of 0% interest on both purchases and balance transfers. It does come with a balance transfer fee of 3%, but that’s certainly better than paying 18.99% in interest on the balance transfer, which some cards charge. The Citi Diamond Preferred card is a little different than the Citi Simplicity card because cardholders can earn Citi Easy Deals for purchases made with the card and then redeem points for on-line deals.
Top Cards for Earning Rewards on all Purchases
1. Citi® Double Cash -This is a new credit card on the market that wasn’t around last holiday season. This card will only earn you 1% cash back on purchases, but you will earn another 1% cash back when you pay your card balance off. So, you basically earn 1% cash back twice, which is why this card made the list. Rewards can be redeemed in increments of $25 as statement credits, gift cards, or checks, or you can share them with friends.
2. Capital One® Venture® Rewards Card -Earns cardholders a standard 2 miles per dollar spent on all net purchases. Miles never expire and there’s no limit to the number of rewards you can earn. Miles can be redeemed for travel, cash, gift cards, brand-name merchandise, and more.
3. Barclaycard Arrival Plus™ World Elite MasterCard®- This miles rewards card will earn cardholders unlimited double miles on all purchases, every day. There are no caps to the number of miles you can earn and miles can easily be redeemed for statement credits.
Featured Credit Cards for Earning Cash Back
1. Chase Freedom®-This rewards card has long been considered one of the best cashback credit cards, 2015, earning cardholders an average of $362 per year. New cardholders can earn $100 cash back after making $500 in purchases in the first 3 months. Cardholders will enjoy 5% cash back all year long on net purchases in popular rotating categories, such as on gas, groceries, entertainment, and retail purchases. Bonus cash back is valid on up to $1,500 each quarter. All other purchases will earn you 1% cash back.
2. BankAmericard Cash Rewards™ Credit Card-This cash back credit card will earn cardholders an average of $314 annually. You get 3% cash back on gas and 2% cash back at grocery stores (for the first $1,500 in combined grocery store and gas purchases each quarter). All other purchases will earn 1% cash back and there is no annual fee.
3. The Blue Cash Everyday® Card from American Express -This cash back credit card features an annual savings of $350. You can earn a $100 bonus (in the form of a statement credit) after you make $1,000 in purchases in the first 3 months. Cardholders can earn 3% cash back at US supermarkets (up to $6,000 per year), 2% at US gas stations & select US department stores, and 1% cash back on other purchases. *Terms and restrictions apply.
Longest 0% Introductory Credit Card Offers
1. Citi Simplicity® MasterCard - This card is currently offering the longest 0% APR duration of 18 months on purchases and balance transfers. That gives the cardholder a year and a half to pay their balance off without paying a penny in interest. The Citi Simplicity is catered specifically for those who want interest-free payments, so it doesn’t come with a rewards program.
2. Citi® Diamond Preferred® Card –Another Citi card, the Citi Diamond preferred Card offers one of the longest intro periods of 18 months of 0% interest on purchases and balance transfers. The Citi Diamond Preferred card is a little different than the Citi Simplicity card because cardholders can earn Citi Easy Deals for purchases made with the card and then redeem points for on-line deals.
There were 7 credit cards that tied for third place that offered 0% intro APR for 15 months. Those included Chase Slate, BankAmericard Visa Card, Chase Freedom, Blue Cash Preferred Card from American Express, Blue Cash Everyday Card from American Express, the Amex EveryDay Preferred Credit Card from American Express, and the Amex EveryDay Credit Card from American Express.
Top Cards With Lowest On-Going Interest Rate
1. Barclaycard® Ring MasterCard® –This is one of the first credit cards that was designed with the consumer in mind, and not the bank. It sort of works like crowd sourcing, where customers can access profit and loss statements and choose what should or should not be changed about the card. The Barclay Ring MasterCard offers 8% APR, no annual fee, and no balance transfer fees. Like other low-interest credit cards, the Ring Card doesn’t feature a rewards program.
2. Simmons Bank Visa® Platinum –This card comes with the lowest interest rate at 7.25% variable. That’s it. The card has few features without a rewards program, but it doesn’t come with an annual fee and there’s no fee for balance transfers. You will notice that the interest rate is lower than any other card on this list so the Simmons First Visa Platinum has a clear advantage.
3. Simmons Bank Visa® Platinum Rewards -This card is very similar to the above Simmons credit card offer, except it comes with a rewards program and a little higher APR. The on-going interest rate for this offer is 9.25% variable and cardholders can earn 1 point per net dollar spent. There are also no balance transfer fees and rewards can be applied to travel related options such as for hotels, cruises, vacation packages, car rentals, and restaurants.
* Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.
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