3 Popular Types Of Credit Cards That Offer the Best Benefits

The best credit cards provide several benefits and perks for cardholders. The benefits that a credit card offers vary based upon the type of credit card. However, some of the most sought-after credit card perks include low APRs (annual percentage rates), promotional interest rates, and airline-related rewards. The credit card that is best for you will largely depend on the perks you are most interested in.

In addition to finding the best credit card deals for a particular card type, it is worth taking the time to find a card that you will use regularly. Credit cards that help you save money on common purchases or assist you in rebuilding your credit score are great options.

You can learn more about the best credit cards for three of the most popular credit cards in the sections below. Not only will you learn more about the best promotions, but you will also have the opportunity to learn more about each card type. Doing so can help you make an informed decision on which card to apply for.

1. Balance Transfers Credit Cards

One of the best credit cards for paying off debts and rebuilding credit scores are balance transfer cards. These cards feature a low promotional rate for a specific amount of time. The promotional rate is usually 0 percent and, in some cases, there may be one time fees for making balance transfers.

These cards are best used if you have other debts from multiple lenders at higher interest rates. You can use balance transfer credit cards to pay off other forms of debt and potentially save money from interest fees, so long as you can repay the debt during the promotional period for the credit card. Balance transfer cards often have notoriously high-interest rates following the promotional period. 

When looking for the best balance transfer credit cards, it is essential that you find a card that offers a 0 percent interest rate during a lengthy promotional period. You can save more money if you can find a card that not only has a long promotional period but low balance transfer fees (or none at all). 

2. Credit Cards For Travel Rewards & Perks

The best credit cards for travel are often considered to be airline or mileage cards. These credit cards reward you for choosing to fly with the same airline when traveling. Additionally, it is common for these cards to offer introductory rewards after enrollment and general rewards following the opening period. 

When you use an airline credit card, you either earn miles for each mile that you fly, earn miles for dollar amounts that you spend on regular purchases or some combination of the two reward types. Rewards can then be exchanged for discounted or free airline tickets through the card’s associated airline.

When searching for the best credit card for miles, it is essential to focus your search on cards that offer the best reward ratios and the best introductory offers. Since introductory offers are only available for a limited amount of time, it is best to apply for these types of cards when you are planning to travel soon. You will also want to choose a credit card that is associated with an airline that you frequently fly with. 

3. 0% APR Credit Cards

Some of the overall best credit cards are credit cards that include low-interest rates, including zero percent cards. Many of these credit cards will allow you to save money on the interest of large purchases with zero percent interest for a specific amount of time following a purchase. Additionally, these cards may include other benefits, such as balance transfer perks or cashback rewards. 

Some of the current best credit card deals include: 

  • Capital One Quicksilver Cash Rewards Credit Card
    • Zero percent introductory period for 15 months 
    • 1.5 percent cash back on every purchase 
  • Chase Freedom Unlimited
    • Zero percent introductory period for 15 months
    • Three percent cash back on all purchases throughout the first year and 1.5 percent back on any purchase made after the one year period 

When searching for low APR cards, it is essential to consider credit cards that have minimal extra fees or cards that include a low interest rate following the introductory period.