What Are the Best Credit Cards of 2016?

Best Credit Cards of 2016: Expert Recommendations

Credit cards are an essential part of modern life, providing consumers with the convenience and flexibility they need to make purchases and manage their finances. However, with so many cards available, it can be challenging to choose the right one. To help you make an informed decision, we have compiled a list of the bestcredit cardsof 2016, based on expert recommendations.

Rewards Cards:

Rewards credit cards are an excellent choice for those who want to earn cashback, points, or miles for their purchases. Here are some of the bestrewardscards of 2016:

1. Chase Sapphire Preferred Card - This card offers a sign-up bonus of 60,000 points, which are worth $750 intravelrewards. Cardholders can earn 2X points on travel and dining purchases and one point per dollar spent on all other purchases.

2. Capital One Venture Rewards Credit Card - This card offers unlimited 2X miles per dollar spent on all purchases, and a sign-up bonus of 50,000 miles, which is worth $500 in travel rewards.

3. Blue Cash Preferred Card from American Express - This card offers 6% cashback on up to $6,000 spent at U.S. supermarkets, 3% cashback at U.S. gas stations and select U.S. department stores, and 1% cashback on all other purchases.

Balance Transfer Cards:

If you have existing credit card debt, abalance transfercard can help you save money on interest charges. Here are some of the best balance transfer cards of 2016:

1. Chase Slate - This card offers a 0% APR on balance transfers for 15 months, with no balance transfer fee if you transfer within 60 days of account opening.

2. Discover it - This card offers a 0% APR on balance transfers for 18 months, with a 3% balance transfer fee.

3. Citi Simplicity - This card offers a 0% APR on balance transfers for 21 months, with a 5% balance transfer fee.

Travel Cards:

Travel credit cards are an excellent choice for those who want to earn rewards for their travel expenses. Here are some of the best travel cards of 2016:

1. Chase Sapphire Reserve - This card offers a sign-up bonus of 50,000 points, which are worth $750 in travel rewards. Cardholders can earn 3X points on travel and dining purchases and one point per dollar spent on all other purchases.

2. Platinum Card from American Express - This card offers a sign-up bonus of 60,000 points, which are worth $600 in travel rewards. Cardholders can earn 5X points on flights booked directly with airlines or with American Express Travel, and one point per dollar spent on all other purchases.

3. Barclaycard Arrival Plus World Elite Mastercard - This card offers unlimited 2X miles per dollar spent on all purchases, and a sign-up bonus of 70,000 miles, which is worth $700 in travel rewards.

Tips for Applying for Credit Cards:

When applying for a credit card, there are several things you should keep in mind to ensure you are getting the best deal. Here are some tips for applying for credit cards:

1. Check your credit score - Your credit score will impact the interest rates and rewards you are eligible for, so it's important to know where you stand before applying.

2. Compare offers - Look for cards that offer the best rewards, interest rates, and fees to find the right card for you.

3. Consider your spending habits - Choose a card that matches your spending habits to maximize your rewards.

Annual Fees and Avoiding Risks:

Annual fees and potential risks are essential factors to consider when choosing a credit card. Here are some things to keep in mind:

1. Annual fees - Some cards charge an annual fee, which can be a significant expense. Make sure you are getting enough rewards to justify the cost.

2. Risks - Credit cards come with risks, such as fraud and identity theft. Be sure to monitor your account regularly and report any suspicious activity.

Credit Card Company Recommendations:

When choosing a credit card, it's essential to consider the reputation of the company. Here are some of the best credit card companies of 2016:

1. American Express - This company offers a wide range of credit cards, with excellent rewards and customer service.

2. Capital One - This company offers rewards cards with no foreign transaction fees, making them an excellent choice for frequent travelers.

3. Chase - This company offers a variety of rewards cards, with competitive sign-up bonuses and rewards programs.

In conclusion, choosing the right credit card can be challenging, but with careful consideration and expert recommendations, you can find the perfect card to fit your needs. Remember to compare offers, consider your spending habits, and monitor your account regularly to maximize your rewards and minimize risks.