What are the Top-Rated Credit Cards of 2016?

Introduction:

Credit cards have become an essential part of our daily lives. They offer convenience and flexibility in purchasing goods and services, and also provide a range of rewards and benefits. However, choosing the right credit card can be a daunting task, especially with so many options available in the market. In this article, we will discuss the top-rated credit cards of 2016 and provide some tips on how to choose the best credit card for your needs.

Top-Rated Credit Cards of 2016:

1. Chase Sapphire Preferred: This credit card offers a sign-up bonus of 50,000 points after spending $4,000 in the first three months. It also gives a 2x points on travel and dining purchases, and a 1x point on all other purchases. The annual fee is $95, but it is waived for the first year.

2. Capital One Venture Rewards: This credit card offers a sign-up bonus of 50,000 miles after spending $3,000 in the first three months. It gives a 2x miles on all purchases, and the annual fee is $95, but it is waived for the first year.

3. Discover it Cashback Match: This credit card offers a cashback match for the first year of usage. It gives a 5% cashback on rotating categories, and a 1% cashback on all other purchases. There is no annual fee for this credit card.

4. Citi Double Cash: This credit card offers a 1% cashback on all purchases, and an additional 1% cashback when you pay your balance. There is no annual fee for this credit card.

5. American Express Blue Cash Preferred: This credit card offers a sign-up bonus of $150 after spending $1,000 in the first three months. It gives a 6% cashback on groceries, 3% cashback on gas and department stores, and 1% cashback on all other purchases. The annual fee is $95.

Tips on Choosing the Best Credit Card:

1. Consider your spending habits: Look for a credit card that offers rewards and benefits on the categories where you spend the most.

2. Evaluate the annual fee: Make sure the rewards and benefits of the credit card outweigh the annual fee.

3. Check for sign-up bonuses: Look for credit cards that offer sign-up bonuses to maximize your rewards.

4. Look for low-interest rates: If you plan to carry a balance, look for credit cards that offer low-interest rates.

5. Read the terms and conditions: Make sure you understand the fees, interest rates, and rewards of the credit card before applying.

Credit Card Saving Tips:

1. Pay your balance in full every month to avoid interest charges.

2. Take advantage of cashback and rewards programs by using your credit card for everyday purchases.

3. Avoid cash advances and balance transfers, as they often come with high fees and interest rates.

4. Set up automatic payments to avoid late fees and penalties.

5. Monitor your credit card statements regularly to detect any unauthorized charges.

Conclusion:

Choosing the right credit card can help you save money and earn rewards. Consider your spending habits, evaluate the annual fee, and read the terms and conditions before applying for a credit card. Take advantage of cashback and rewards programs, and avoid cash advances and balance transfers. By following these tips, you can make the most of your credit card and avoid any potential risks.