What are the Top Credit Cards of 2017 on Reddit?

Introduction:

Credit cards are one of the most popular financial tools available to consumers today. They offer a convenient way to make purchases, build credit, and earn rewards. With so many credit card options available, it can be challenging to determine which one is right for you. Fortunately, Reddit users have ranked the top credit cards of 2017, providing a helpful guide for consumers looking to apply for a new credit card.

Top Credit Cards of 2017 on Reddit:

According to Reddit users, the top credit cards of 2017 include the Chase Sapphire Preferred, the Citi Double Cash Card, the Discover it Cashback Match, and the American Express Platinum Card. These cards offer a range of benefits, from generous sign-up bonuses to high cashback rewards. The Chase Sapphire Preferred, for example, offers 50,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. The Citi Double Cash Card offers 1% cashback on all purchases, plus an additional 1% cashback when you pay off those purchases. The Discover it Cashback Match offers 5% cashback in rotating categories, and the American Express Platinum Card offers a range oftravel benefits, including airport lounge access and travel credits.

Choosing the Right Credit Card:

When choosing a credit card, it's important to consider your spending habits, credit score, and financial goals. If you're someone who travels frequently, for example, a card with travel benefits may be a good fit. If you're looking to build credit, a secured credit card may be a better option. Additionally, it's important to consider the fees associated with each card, including annual fees, balance transfer fees, and foreign transaction fees.

Credit Card Savings and Rewards:

Credit card rewards can add up quickly, providing significant savings on everyday purchases. Many cards offer cashback rewards, which can be used to offset the cost of future purchases or redeemed for statement credits. Some cards also offer points or miles, which can be redeemed for travel or merchandise. Additionally, many cards offer sign-up bonuses, which can be worth hundreds of dollars in cashback or travel rewards.

Avoiding Credit Card Fees and Risks:

While credit cards can provide a range of benefits, it's important to be aware of the potential risks and fees associated with using them. Late payment fees and interest charges can add up quickly, leading to high levels of debt and financial stress. Additionally, it's important to monitor your credit card accounts regularly for fraudulent activity and unauthorized charges.

Credit Card Company Recommendations:

When choosing a credit card, it's important to consider the reputation and track record of the credit card issuer. Some of the top credit card companies include American Express, Chase, and Discover. These companies have a strong history of customer service and offer a range of credit card options to fit a variety of financial needs.

Conclusion:

Overall, credit cards can be a valuable financial tool for consumers looking to build credit, earn rewards, and make purchases conveniently. When choosing a credit card, it's important to consider your financial goals and spending habits, as well as the fees and risks associated with each card. By doing your research and choosing the right card, you can take advantage of the many benefits of credit cards while avoiding common pitfalls and risks.