Everyone’s lifestyle is different; everyone’s spending needs and wants vary, therefore, there isn’t that one best-of-the-best when it comes to credit cards. Some people love racking up travel points, while others enjoy cash-back rewards, and some families that carry balances enjoy those low-interest cards to help with money savings.
In this day and age, there are a plethora of credit cards stacked with differing features to suit certain needs. As such, below are five of the best credit card options for spenders in 2019.
Best Cash Back Option: Blue Cash Preferred American Express:
For those that love cash-back rewards, American Express’ Blue Cash Preferred gives you a $250 bonus credit when you spend $1,000 (on purchases) within the initial three months of holding the account. In fact, you also earn a hefty 6% in cash back rewards from supermarket purchases across the United States (up to $6,000), with another 6% back on select American television and music streaming services. Earn 3% back on ground transportation and U.S. gas station purchases, as well as 1% on anything else, including grocery bills that go past that $6,000 mark. The annual fee is a mere $95.
Best Travel Option: Chase Sapphire Reserve:
For those who love to travel, the Chase Sapphire Reserve can earn you 50,000 bonus points, with $4,000 spent within the initial three months of opening this credit card; this equals out to $750 in credit for travel. Moving forward, three points are earned for every dollar spent on travel, as well as dining (worldwide), and one point is gained per dollar for spending on anything else. Additionally, customer gain $300 each year in travel credit, access to airport lounges, special rates for rental cars, and more with this card. The card’s primary holder annual fee is $450, and additional users (up to four people) each pay $75, each year.
Best Dining Option: Capital One Savor Rewards :
Love eating out? Then this card may be for you! You’ll earn 4% cash back on entertainment and dining purchases, 2% at grocery stores, and 1% on anything else you charge on the Capital One Savor. There’s also a cash bonus of $300 if you spend $3,000 within the first three months of owning the card. There is an annual fee of $95, which is waived the first year.
Best Low Interest Rate Option: USAA Rate Advantage Visa Platinum:
A rate as low as 9.15% on all purchases? Sign us up! The USAA Rate Advantage Visa Platinum card actually offers the lowest rate on the credit card market today. Having said that, you need to be a retired or current military member, or an immediate family member of a current or retired military member, as a requirement to join the USAA and thus apply for the card. There is no annual fee attached to the credit card.
Best Business Option: Ink Business Preferred:
If you are a business owner looking for a credit card for company purchases, then this is the option to go with. Customers earn 80,000 bonus points when $5,000 is spent within the first three months of opening their Ink Business Preferred credit card. Points can be redeemed via Chase Ultimate Reward that equal out up to $1,000 in travel.
Three points are earned per dollar on the initial $150,000 spent within specific business categories annually. These include: shipping, travel, Internet, phone, cable, as well as any purchases around search engine or social media advertisements. Anything else earns the card holder one point per dollar, and there are no limits. To boot, there is no foreign transaction fee linked to the card, and the annual rate is $95.
Dorathy has an economics minor from York University in Toronto, Ontario and worked for one of Canada’s largest banks. She will share her own financial tips and keep you updated on current finance news.