Credit Card Comparison

Credit card comparison is the foundation of managing credit wisely. By comparing the numerous offers available, borrowers can narrow down their choices, save money and earn more rewards.

Comparisons of Popular Cards

The following credit card comparisons show how credit cards vary. The selection of a credit card is a personal decision, based on how you will use the funds.

Low Interest Credit Cards

If you are looking for the least expensive credit cards, consider low interest credit cards. Local lenders may be another source of a lower rate credit card.

  • The Capital One Platinum Prestige Credit Card offers a compatibly low APR as low as 10.9 percent. It also offers a 12-month zero percent APR introductory period and no annual fee.
  • The Chase Slate card offers a low interest rate starting at 11.99 percent, and an introductory offer of zero percent APR for 15 months on purchases and balance transfers.
Men exchanging credit

Low interest credit cards may offer fewer features overall, including fewer rewards programs. These accounts may charge higher interest on cash advances.

Cash Back Cards

Some credit cards offer cash back incentives. This means you get money back for using your card.

  • The Chase Freedom credit card offers five percent cash back, no annual fee and a $100 bonus cash back offer. You can earn up to $1500 in cash back. Each quarter, the highest cash back purchase offers change.
  • The Bank of American Cash Rewards Visa Signature Card offers three percent cash back on purchases at grocery stores, gas stations and drugstores for six months. Earn one percent cash back on all other purchases. This card does not have an annual fee, but has an APR starting at 12.99 percent.

When doing credit card comparisons, carefully consider rewards programs. Ensure the offer is for a benefit you can use, especially with travel or entertainment rewards offers.

Other Offers

There are many other options to look for in credit cards. Consider some of these other top feature credit card offers.

  • For the college student, consider the Citi Platinum Select Visa Card with no annual fee, a low APR and no-fee benefit to help students build credit. Another student card to consider is the Journey Student Rewards card with its cash back benefits, no annual fee and a 19.8 percent APR.
  • For balance transfer offers, consider the Citi Diamond Preferred Card, with a long 21-month zero percent APR introductory offer on balance transfers and APR starting at 11.99 percent. The Discover More card is another option, with a 15 month zero percent APR on purchases and balance transfers and cash rewards up to five percent.

A credit card comparison should look at the features important to you. Costs, rewards benefits and the ease of use are just some of those comparison tools to think about.

How to Compare Credit Cards

With dozens of different credit card offers from various companies, it can be a challenge to narrow down your options. However, regardless of who the lender is, look at a few specific aspects of each credit card closely before choosing.

  • Interest Rates: Often expressed as APR, or annual percentage rate, this is the cost of borrowing money. The lower the interest rate is, the more affordable the loan is.
  • Grace Period: You can pay off any borrowed funds and pay no interest on the charges during this length of time a lender provides. Some lenders have a longer grace period than others do.
  • Fees: Some lenders have more fees than others do, especially if your credit score is not high. Annual fees may or may not apply, but are common in rewards credit cards. Membership fees, origination fees and other fees may apply at your acceptance of the credit card, in some cases.
  • Credit Qualification: Some lenders will lend to those with only excellent credit, while others will lend to those who have a lower credit score. Consider applying for a card that fits your specific credit qualifications.
  • Rewards: Cash back programs, airline discounts, travel discounts, entertainment rewards and many other choices are available. Rewards may come at a higher interest rate than those cards without these programs.

These are some of the most important considerations to look for in lenders and credit card offers. However, note that offers from lenders are often specific to the borrower, based on creditworthiness and other qualifications.