Ah yes, the heady thrill of receiving an awesome new credit card in the mail after doing your research this time around and carefully selecting the right one… and paying down your existing debts. (I don’t recommend those who are in over their head apply for new cards; instead, work to pay down your current obligations to creditors before getting lured into a new deal. Trust me, it’s no fun to get into debt.)
But if you’re in decent financial shape and are on the prowl for a new summer credit card, here’s an updated list of my absolute favourite credit cards — with the exception of one card, all of these are featured in Outlaw‘s card offers portal. Go there for more info or to apply online (some of these offer 60-second decisions on online apps, which certainly beats waiting a week).
Discover More Card: I like this one because it’s all gain, no pain. There’s no annual fee… there’s 0% intro APR on purchases and balance transfers for 15 months (another version offers 18 months of 0% intro APR on balance transfers, but only 6 months on purchases)… and, best of all, the 5% Cashback Bonus in select rotating categories (such as travel, gas, groceries, etc.) can add up to a lot of cash back each year if you spend wisely and keep on top of which category is valid.
American Express Premier Rewards Gold Card: When I was a kid, I used to dream about driving a Porsche and having an AmEx Gold Card (or, why not, a Black Card!) in my wallet. A few personal tragedies later, I know that what you own doesn’t make the man, but it’s still a cool card — you get 15,000 bonus Membership Rewards points after spending $1,000 on the card within the first three months, which can be redeemed for a $150 gift card. Plus, the usual Premier Rewards Gold Card annual fee is waived when you apply at the moment, which is a $175 savings.
Orchard Bank Classic MasterCard: This is a great credit card for those with ‘bad’ credit who are looking to rebuild their credit history, and be given a second chance by a large, legitimate bank. The regular APR is as low as 7.90%, which is quite generous considering how much some of the other issuers make ‘risky’ cardholders pay (assuming they approve you at all). Rebuilding your credit can be a long, arduous journey, but at least having a real credit card again will help improve your credit history (this one reports to all 3 major credit bureaus each month).
TrueEarnings Card from Costco and American Express: A great looking American Express credit card with no annual fee if you’re an existing Costco member. This card is a favourite of mine because it offers an excellent 3% cash back on restaurant and gas purchases (up to $3,000 annually), 2% cash back for travel purchases, and 1% cash back nearly everywhere else. Decision is offered within 60 seconds when you apply online.
Capital One Venture: You’ve seen the TV commercial starring Alec Baldwin… This excellent Visa Signature credit card from Capital One offers 2 miles per $1 spent on all purchases, and you get 10,000 bonus points after signing up (plus the annual fee is waived for the first year). Also, there are no foreign transaction fees, making this one of my favourite Visa-branded credit cards for frequent overseas travellers.
Review these credit card deals, and others, in greater detail on Outlaw’s deals page.
Disclosures: We’re a credit card offers site, so obviously we maintain financial relationships with numerous banks and financial institutions, including some of the card issuers mentioned in this article. No relationship or position on Capital One at time of publication.
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