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For many people, the New Year brings New Year's resolutions. If set goals Is on your mind, you may be looking for ways to improve your financial health. One way that you can add to your bottom line is the judicious use of credit cards and credit card rewards. This article introduces some of the best credit cards for 2021.
Before you apply for a new credit card
Credit card rewards can be a lucrative addition to a healthy financial picture, but if not used wisely, it can really hurt your wealth. Before opening a credit card for rewards or points, make sure you have the financial resources and the discipline to pay off your credit card statement in full each month. If you don't, then Credit card interest and late fees easily exceed any rewards you could earn.
There are three main reasons you might want to apply for a new credit card:
Rewards such as airline miles or cashback that you get for every dollar you spend on the card. These are usually in the range of 1-2% behind.
Card Benefits – You may receive free food delivery subscriptions.
Sign-up Bonus on Application – Many credit cards offer an initial welcome offer once you've been approved for the card. This can be on the order of 50,000 points or miles after spending $ 2,000 in the first three months of receiving the card.
Sign up bonus offers change frequently – these were correct as of the time of publication. You can find the latest offers in our Credit card area.
For more information, see our guide at Here's how to maximize credit card rewards without affecting your balance. With that in mind, here are some of the best credit cards for 2021.
Capital One Venture
The Capital One Venture card earns double miles on all purchases and currently offers a 60,000 miles welcome offer once you spend $ 3,000 on purchases in the first three months of receiving the card. Your venture miles can be used to offset nearly any type of trip at the rate of 1 cent per mile. That means the sign-up bonus is worth at least $ 600 for travel alone. There is an annual fee of $ 95 for the Venture Card.
Bank of America cash rewards
The Bank of America Cash Rewards card has no annual fee and currently offers a $ 200 bonus after spending $ 1,000 in the first three months of receiving the card. The Bank of America Cash Rewards card has a tiered award rate that gives you 3% quarterly cashback in the category of your choice. You also get 2% cashback at grocery stores and wholesale clubs and 1% cashback on all other purchases.
Citi Double Cash
The Citi Double Cash does not come with a sign-up bonus, but has no annual fee and earns 2% cashback on all purchases. That makes it one of the best cards for everyday expenses.
Chase Sapphire preferred
The Chase Sapphire Preferred costs $ 95 per year and is a great reward credit card as it earns valuable Chase Ultimate Rewards points. Currently, you can earn 60,000 Bonus Points for Ultimate Rewards after spending $ 4,000 in the first three months that you own the card. You also earn 2 points per dollar spent on travel and food. Your Ultimate Rewards points can be used as bank statement credits worth 1 cent per point or for trips with a 25% bonus. You can often add even more value to your Ultimate Rewards points by transferring them to Chase's hotel and airline partners.
American Express Blue Cash preferred
The American Express Blue Cash Preferred card also has an annual fee of $ 95 but earns 6% on your first $ 6,000 on purchases at US supermarkets and streaming services. That makes it one of ours best cards for groceries. You can currently receive $ 250 in credit after spending $ 1,000 in the first three months of receiving the card. Conditions apply.
Discover it cash back
The Discover it Cash Back card offers the option to register to earn 5% bonus categories that change every quarter. Each quarter there is a different category where you can earn 5% cashback. These categories can include grocery stores, gas stations, restaurants, and more. During the quarter, receive 5% cashback on the first purchases of the quarter of $ 1500. You get 1% cashback on all other purchases. The Discover It card does not have a traditional sign-up bonus. Instead, Discover is equal to the cashback you get at the end of your first year, with no maximum. This can be a great bonus for high spending.
The bottom line
Responsible use of credit cards can yield hundreds, if not thousands of dollars a year in rewards and benefits. However, before signing up for and / or using a credit card, make sure you have the discipline to pay off your bill in full each month. You also want to make sure that you are using a budgeting tool like Mint and not spending extra cash on things you don't really need, just to get a 2% reward.
These answers are not provided or commissioned by the bank advertiser. The bank advertiser has not reviewed, approved, or otherwise endorsed the responses. It is not the responsibility of the bank advertiser to ensure that all posts and / or questions are answered.
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Dan Miller (47 posts)
Dan Miller is a freelance writer and founder of PointsWithACrew.com, a website that helps families travel for free / cheap. His home base is in Cincinnati, but he tries to travel the world as much as possible with his wife and 6 children.