Photo: Capital One
The personal credit card has made an unlikely comeback in the United States as the preferred financial “hub” for many people.As SmartMoney recently reported, “In the battle of the plastics, credit cards have lately emerged as the surprise champs, offering fewer fees and better rewards than the typical debit card. But as banks and credit-card companies flood mailboxes with a new round of offerings, experts warn that finding the best deals isn’t getting any easier.”
And relatively new payment services such as Square and the PayPal Here card reader still rely on a credit card or debit card as the basis for the transaction.
For those in the market for a new credit card, I’ll recommend my two favourite cards below. You can also peruse and compare the latest deals at any time within Credit Card Outlaw‘s card offers portal here.
My first pick for May is the Capital One VentureOne Rewards Credit Card which currently offers a 10,000 mile bonus. If I could only have one card in my wallet at any time, this would be it.
This airline and hotel rewards credit card offers 1.25 miles per $1 on every purchase, every day, and the latest promotion featured in Outlaw‘s offers portal lets you “earn 10,000 bonus miles, equal to $100 in travel.” You can redeem your miles for airline tickets, hotel rooms, car rentals and more. The VentureOne Rewards card has no annual fee, and no foreign transaction fees. Plus, this promotion offers you 0% Intro APR on purchases until May 2013. Apply online, compare with other Capital One card offers, or review details of this offer here.
My second pick is the Blue Cash Everyday Card from American Express. Aside from a $100 cash back bonus after spending $1,000 in eligible purchases in the first 3 months, the card offers 0% Intro APR on purchases for 12 months, and a lucrative cash rewards program: “Get 3% cash back at supermarkets, 2% cash back at gas stations and department stores, and 1% cash back on all other purchases.” There’s no annual fee.
Whichever card you choose this month, try to avoid store-branded credit cards. There are a few noteworthy exceptions, but most department store credit cards offer more of a headache than anything else: excessive late fees, subpar customer support, high interest rates, and rewards that only make sense if you shop at that particular store constantly (and pay off your balance in full each month).
This is why Outlaw prefers to review and recommend cards which offer reward redemption in a variety of ways.
Disclosures: We’re a credit card promotions site, and as such we maintain financial relationships with numerous banks and financial institutions, including Citi, Discover and the other cards mentioned or featured herein. This article originally appeared in slightly different form on Credit Card Outlaw.