Alert, alert! The best credit cards of 2013 have just been announced, and we want you to know about it. After all, we're all looking to save money on our holiday spending this year and hoping to get the best bang out of our buck. According to Discover, the average shopper this year will spend more than $1,000 on the holiday shopping. So why not open a credit card account that will help you save money and even give some back?
Creditnet.com, a website solely dedicated about credit cards, interest rates, identity theft and more, has announced the top three best credit cards of the year.
The top three cards from lowest to highest are the Barclaycard Ring MasterCard, the Citi Simplicity Visa card, and the Discover It card. The top three best credit cards were chosen by focusing on banks that accept peoples pre-existing debt to be transferred from one card to another, which allows American citizens to save money by switching from a high interest rate to a low interest rate. The best credit cards were also looked into to see what rewards and introductory offers the card offers when first signing up, the overall reviews by citizens and what the expert opinions were.
1. The Barclaycard Ring MasterCard
The Barclaycard Ring MasterCard offers its customers one percent cash back on balance transfers made within the first 60 days. It also has a good rewards program called the Giveback program and the card does not charge a balance transfer fee or annual fees. However, it does have eight percent interest, which makes the card not as desirable as others.
2. The Citi Simplicity Visa Card
The Citi Simplicity Visa Card also doesn't charge any late fees, penalty fees or annual fees. But what is highly attractive about this card is that it offers no interest rate for the first 18 months on balance transfers or any new purchase, which offers a great opportunity for helping those get out their debt. However, the nice grace period doesn't last forever. After the 18 months are up the interest rate switches to 12.99 to 21.99 percent interest rate, depending on your credit score.
3. Discover It
And the best credit card of 2013, the Discover It, is popular because it too offers 18-months of zero balance transfer rates, but the no interest rate on new purchases is only limited to six months, rather than the full 18. However, like the Chase Freedom card, the Discover It offers five percent cash back on quarterly categories and one percent cash back on everything else. Not bad for just a credit card!
So not only do you have to stock up on store coupons all year and open a store card just so you can get the promotional discount every time, you can now open a new credit card account with one of these best cards of the year, save some money and reward yourself at the end of it all! Happy shopping.