A while ago I asked readers to name their favorite credit cards. That request spawned numerous comments, so I thought I’d distill down the results for you guys. What follows is a breakdown of the cards that received the most love. This post will be updated regularly as offers change, so check back to get an update on the best credit card deals for 2014. Loyal and new readers, thank you for your comments!
Best Overall Credit Cards for 2014
For consumers who are looking for great cards for everyday use, these cards represent some of your best options. All of these three top picks have no annual fee, low interest rates, good rewards benefits, and have received positive comments from Five Cent Nickel readers:
Blue Cash Everyday® Card from American Express
Blue Cash Everyday® Card from American Express has no annual fee and a robust cash back rewards program. Get 50 Reward Dollars, after you use your new Card to make $1,000 in purchases within the first 3 months. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. Terms and restrictions apply.
Introductory offer transfer your higher rate balances during the first 60 days your account is open and you will pay no balance transfer fee. After that, the balance transfer fee is 3% of the amount transferred with a minimum of $5 with Chase Slate. Slate with Blueprint helps you pay down your balances faster and save on interest.
Earn $100 Bonus after you make $500 in purchases in your first 3 months from account opening with Chase Freedom®. Get 0% introductory APR for 15 months on purchases and balance transfers.This card is best for consumers with good to excellent credit that like to earn bonus rewards in varying categories.
Best Balance Transfer Credit Cards for 2014
Here are the most popular 0% balance transfer credit card offers from different issuers. Balance transfer credit cards are good for off-loading your high-interest credit card debt. When combined with a high-yield online savings account these cards are also great for 0% credit card profiteering. These cards offer 0% APR and some offer rewards and/or signup bonuses.
- PenFed Promise Visa® Card Absolutely no fees, including no fee on balances transferred. Introductory purchase rate 7.49% APR for the first 36 months. After the introductory period, the purchase APR will vary with the market based on the Prime Rate, and is currently 9.99%. This card has no annual fee. Applying for this card takes a little bit of hoop-jumping, see our post on PenFed Credit Cards.
- Citi® Diamond Preferred® Card 0% introductory APR on purchases and balance transfers for 18 months. There is a balance transfer fee of either $5 or 3% of the amount of each transfer, which also applies to this offer. This card has no annual fee.
- Chase Slate® 0% introductory APR for up to 15 months on purchases and balance transfers. You need good to excellent credit to apply for this card. No annual fee. No balance transfer fee on transfers made within 60 days of account opening. All other transfers: either $5 or 3% of the amount of each transfer, whichever is greater.
Best Rewards Charge and Credit Cards for 2014
Rewards charge and credit cards are great tools for maximizing your expenditures. All you have to do is just sign up and then spend money as you normally would to accrue points; most of these cards have no annual fee, so it’s a no-brainer but it is advice-able to keep a check on your credit report too. Earn rewards for everyday purchases. Keep in mind charge cards don’t have associated interest rates, every bill is due in full each payment period.
- Chase Freedom® earn 5% cash back on offers in popular categories like gas stations, restaurants and Amazon.com, subject to quarterly enrollment and maximum spend limits. Cash back rewards don’t expire.
- Chase Sapphire Preferred® 40,000 bonus points after you spend $3,000 in the first 3 months of card membership – that’s worth $500 toward travel rewards. 7% annual points dividend enables you to earn bonus points on all new points earned on purchases.
- American Express® Premier Rewards Gold Card With this offer you can get 25,000 Membership Rewards® points after you spend $2,000 on purchases on your new Card in your first 3 months of Card Membership. You can earn 3X points for flights booked with airlines, 2X points at US gas stations and US supermarkets, 1X points on other purchases. Terms and limitations apply. For an additional bonus you can get 15,000 points after you spend $30,000 in purchases on the Card in one year. Terms and restrictions apply. This is a charge card, you pay your balance in full each month.
- PenFed Premium Travel Rewards American Express® Card Earn 5 points for every $1 spent on airfare purchases. Spend $2,500 in the first three months of opening the card and earn 20,000 bonus points.
- Citi ThankYou® Preferred Card – Earn 20,000 Bonus Points You can earn 20,000 bonus ThankYou Points after $1,500 in card purchases within 3 months of account opening and redeem the points for $200 in gift cards or other great rewards.
Best Low Intro Rate Credit Cards for 2014
The following low interest rate credit cards feature either a low fixed rate APR or a low introductory APR.
- Chase Freedom® 0% introductory APR on purchases and balance transfers for 15 months. No annual fee. 5% Cash Back on up to $1,500 spent in bonus categories, subject to quarterly enrollment and maximum. Full 1% Cash Back on other purchases.
- Chase Slate®0% introductory APR for 15 months on purchases and balance transfers. You need good to excellent credit to apply for this card. No annual fee. Introductory offer no balance transfer fee on transfers made within 60 days of account opening. All other transfers: Either $5 or 3% of the amount of each transfer, whichever is greater.
- PenFed Promise Visa® Card Absolutely no fees, including no fee on balances transferred. This card offers 7.49% introductory purchase APR for the first 36 months. After that, the purchase APR will vary with the Prime Rate, and is currently 9.99% APR. No annual fee.
Related: Zero Percent Balance Transfer Credit Cards