There are many different types of credit cards out there, but it can be difficult to know which one is right for you. Here, you’ll explore what each type of card offers, along with their top picks for the best cash-back credit cards, travel rewards credit cards and low-APR credit cards.
Cash back credit cards
Cash-back credit cards are great for people who want to earn rewards in the form of cash. You can use these rewards to pay bills, buy things and even make charitable donations. While some cash-back cards limit you to one percent back on purchases, others give you generous rewards of up to five percent or more.
At the end of the day, it all comes down to what you’re looking for and how much cash back you want your card to provide. If you want more flexibility with how much you earn in rewards each month, then a cash-back card would be a good choice for you.
Medical credit card
A medical credit card is a way to go for those who need help paying for medical expenses. These cards are designed specifically for people with high-cost health or dental bills. You can use these types of cards for anything from prescriptions to surgeries, whether you’re a patient or healthcare provider. Most importantly: unlike other consumer credit cards, most medical cards have lower interest rates and no annual fee!
As Lantern by SoFi say, “When an individual charges a medical expense to a designated credit card for medical care, the bank pays their doctor or healthcare provider.”
Travel rewards credit cards
Travel rewards cards are best for people who travel frequently. These cards allow you to earn points or miles on every dollar you spend, which can be redeemed for travel statement credits and gift cards.
Travel rewards credit cards typically have annual fees, but they offer more benefits than other types of credit cards. To find the right one for your lifestyle and needs, compare the features of several different reward programs before deciding on an account that meets your requirements.
Low APR credit cards
A low-APR credit card is a great option if you want to save on interest and fees.
- Low-interest rate: A lower interest rate means more money in your pocket at the end of each month, so it’s also good for those who can’t afford to pay off their balances in full each month.
- Low monthly payment: If you’re only making minimum payments on your other cards, consider switching to one with a lower APR so you can free up some cash flow. It’s also better than making no payment at all!
Travel credit cards offer good options if you’re looking for a way to earn rewards on your everyday purchases. These cards can be used anywhere in the world and often offer a variety of perks like free checked bags and other travel discounts. If you want to ensure that your credit score stays in good shape while also saving money on interest rates, low APR cards could be a good choice because they provide lower interest rates than most other types of credit cards.