Top ten credit cards for you to choose from

Currently, there are countless credit cards available in the market, but only one or few are right for you. Credit card companies are competitive and want to be your first preference, but the options offered by them is almost the same. For example, Ally Financial, JPMorgan Chase, U.S. Bank, and Wells Fargo released new cash-back cards in 2016. All pay around 1.5%, and there are minor differences between them. To get the most out of the cards, the first thing is to understand your own needs. There are a lot of cards to choose from with rewards, cash back, travel, balance transfers. The card that may work for you may not work for another user. For the best card suited towards your needs, you have to look at your spending habits. The top credit cards offer a combination of low-interest rate, high rewards, lucrative bonus for signup, etc. Listed below are top ten credit cards for 2017-18, which provide a combination of essential features.

Top ten credit card picks for 2017-18

1. The Chase Sapphire Preferred Card – Best Travel Credit Card
2. The Blue Cash Everyday -American Express – Best for Everyday Cash Back
3. The Discover it – 18 Month Balance Transfer Offer – for Balance Transfers
4. Starwood Preferred Guest – (American Express) – Best Hotel Card
5. Discover it (Cashback) – First Year Rewards Matching
6. Barclaycard Cash Forward (World MasterCard) – Best Cash Back Redemption Bonus
7. Gold Delta Sky Miles (American Express) – Best Airline Credit Card, Best Travel Credit Card
8. Discover it Student Cash Back- Best Student Credit Card
9. Capital One Spark Classic for Business- Best Business Credit Card
10. Citi Double Cash Card-18-month BT offer- Best Credit Card for flat-rate cash back with no annual fee

Selecting the right credit card
The card that you choose depends on your lifestyle, spending and credit goals. Few things to keep in mind –

• Free travel
  Travel cards are recognized for their travel benefits. You can earn points or miles for a free trip. It can get you a special status with a hotel or airline. You can also transfer the points to a hotel or airline loyalty programs. They offer cancellation coverage, primary or secondary auto rental coverage, and emergency travel assistance. They charge annual fees but earn enough points to justify the expense. Credit card sign-up bonuses are cyclical. The cards with big rewards have a minimum spending requirement.
• Cash back
  You earn cash back for every purchase made. If you choose one of the top ten credit card, the particular card accumulates two or more points per dollar. Cash back cards are the second most popular type of credit cards to own, and they work well with general points per purchase card. Also known as beginners’ credit cards, they offer an excellent opportunity to build credit.
• Reduce interest rate
  To avoid a high-interest credit card payment, transfer your balance to a new credit card. Pick a card that will accept the balance without a fee or offers a 0% introductory APR on balance transfer. Some cards also provide a low-interest rate or 0% introductory APR for 12 to 21 months. It depends on how much you owe at your current rate, and the interest you want to save. If you are not paying a high interest, you can reduce the debt faster. Transfer of balance may charge an interest of 3 to 5%.
• Build credit
  Building credit is an important step. If you don’t have a credit history, it is difficult to obtain a card. Two types of credit cards are used for building credit – unsecured and secured. Most cards are unsecured and do not require a cash deposit. A secured credit card is used under extreme circumstances where you need to “secure” it by depositing a cash amount equal to what you want to borrow.
• Maximizing rewards
  To maximize rewards, treat your card like cash. This means you will spend on what you have. Follow a policy, if you don’t have cash, don’t use your card. Cash in on the cards that offer benefits including cash back and travel rewards. Several top credit cards give hidden perks that are not advertised. You will have to search for these “extras” which come in handy. If used correctly, it will help you save money and maximize rewards.

Benefits offered by the top ten credit cards

• Consumer liability on fraudulent purchases made on credit is limited to $50. However, the best top ten credit cards take the protection a step further and offer zero liability for transactions not made.
• Many credit cards charge a foreign transaction fee of 3% of your purchase for charges made overseas. However, the top credit cards waiver or charge only a small fee on transactions made abroad.
• Make sure your auto policy provides coverage for rental cars. Check with your credit card. Some cards offer a secondary Collision Damage Waiver (CDW), while others provide an expensive primary auto rental coverage as a free perk.
• The top credit cards offer free travel insurance as compensation for a trip delay or cancellation insurance. They will reimburse you if the schedule is changed due to unavoidable circumstances like family death, natural disaster or accidents.
• The extended warranty is for those items which have a year of manufacturer warranty. Depending on the conditions, this type of coverage usually reimburses you or sends you a replacement if there is a problem with the product.
• Price protection will help you pay the difference on a large-ticket. You will be automatically reimbursed for the price difference.
• Your card may offer roadside assistance, for a breakdown. They will charge a flat fee.

Choosing the right best credit card for yourself depends on your circumstances, spending habits, and personal financial goals.