Finding the Best Credit Card For You

In addition to being incredibly convenient, credit cards can also help build credit history and boost credit scores—if used responsibly, of course. From making big to little on-the-go purchases, credit cards are incredibly useful. In addition to the advantages we already mentioned, many companies also offer extra features with their cards, like cash back or low monthly fees. You’ll want to find the best credit card possible. 

Looking for a credit card of your own? Keep reading for suggestions and helpful tips. 

Raptor’s Picks for Best Credit Cards of 2020

Deserve EDU Card

  • $0 annual fee
  • 1% cash back on all purchases
  • Year of Amazon Prime Student
Visit Deserve

Deserve PRO Card

  • $0 annual fee
  • 3% cash back on travel and entertainment
  • Year of Priority Pass Membership
Visit Deserve

What to Look for In a Credit Card

Like with any purchase, it’s worthwhile to shop around and see various offers before selecting one. Different card companies have different cards and perks available. You may qualify for some, but not others. So do your research thoroughly to find the best card for you and your needs. 

A few things to keep in mind while searching and comparing include:

  • Interest rates / APR
  • Monthly and annual fees
  • Benefits or rewards
  • Reward rate

Different Types of Credit Cards

There are many different kinds of credit cards out there, each catering to a specific demographic or need. To find the ideal credit card for you, you need to know what you want out of the card. Do you intend to use it for business expenses? Are you trying to build credit history? Your reasons may inform your ultimate decision in which type of card to get.

Let’s go over some of the basic types:

  • Standard: A basic card with no bells and whistles. Ideal for people who want a simple, functional card.
  • Reward: A card that comes with reward perks for making purchases. Good for people who want to redeem points, merchandise, or travel miles.
  • Student: These are intended for college students applying for their first credit card. They often come with special perks like lower interest rates.
  • Business: Cards meant for business expenses and purchases. They’re a good way to keep personal and professional charges separate.
  • Prepaid: Similar to debit cards, this card is limited to the amount the cardholder loads into it. Ideal for those trying to stick to a budget and not overspend.

Potential Credit Card Rewards

  • Cashback: A percentage of a purchase returned back as a cash reward. Usually specified as a certain kind of purchase—like gas or groceries. 
  • Low Monthly Fees: Low (or no) fees charged for various card services.
  • Low Annual Fees: Low (or no) fees charged for annual card services.
  • Balance Transfer: Moving the balance of one credit card to another.
  • Reward Points: Earn points by making purchases, referring friends to the card company, or spending a certain amount. Points can be redeemed for products, events, and more. 
  • Miles: Often interchangeable with reward points, though some miles refer specifically to airfare and other travel expense rewards. 

Finding the Best Credit Card for You

In the end, whichever card or company you choose, you’ll want to be sure you’ve explored all of your options first. Shop around, compare cards, plot out what you want, read reviews, and you can make a more informed decision.

Tips & Resources