Credit cards are great products to have with you if you can manage them well. They can help you achieve your financial goals or finance emergency expenses when cash is not readily available. Here is a good article narrating how and why credit card was invented. However, credit cards also come with a strong temptation to splurge and spend unnecessarily, so you have to be very careful about your attitude and discipline when it comes to credit cards (or other credit products for that matter).
Choosing the right credit card is also vital for your financial health. Different cards from various banks and issuers have varying terms and features, and you are sure to find one that is most appropriate for your income, spending habits, and financial capability. If you haven’t used a credit card before and is now planning to get one, it would be wise to read this article first, as it thoroughly explains the seven basic credit card features.
Here are five credit cards that you should definitely own:
- Citi Simplicity Card. This credit card from Citibank offers 0% Introductory APR on purchases and balance transfers within the first 18 months of activation. The most notable feature of the Citi Simplicity Card is the absence of penalty rates or late fees, so for customers who often forget or miss payments, this is a great credit card to have. You can catch up on a missed payment without worrrying about any late fee or penalty adding up to the costs. There is also no annual fee for the Simplicity Card.
- Chase Slate. The Slate is one of the more popular cards offered by Chase Bank. If you have high interest credit card balances and are finding it hard to keep up because of the other fees and penalties you have accrued, you can transfer your balance to the Chase Slate at 0% introductory fee for the first 60 days. The Intro APR for balance transfers as well as purchases is at 0% for 15 months. It also comes with Chase’S Fraud Protection and Zero Liability Policy. It’s worth mentioning that the Chase Slate was recognized by Forbes Online as having the Best 0% Offer in Crowning 2013’s Best Credit Card Offers.
- Citi Double Cash Card. If you are going to use a credit card, you might as well get one that has plenty of rewards and cash-back opportunities. The Citi Double Cash Card not only waives the Annual Fee, but also offers 1% cash back for purchases and 1% cash back over payments. The card even comes with 0% Introductory APR for balance transfers and purchases for 15 months (balance transfer fee at 3% or $5, depending on which is greater).
- Chase Freedom. If you are a frequent online shopper, you definitely should have the Chase Freedom card in your wallet. This credit card gives you 5% cash back on up to $1500 worth of combined purchases at Amazon, Zappos.com, and selected retailers up to December 31, 2014. There is also 1% unlimited cash back on all purchases, 5% cash back offers for gas stations, food establishments, and Amazon.com every three months, no annual fee, and no rewards expiration date.
- Tires Plus Credit Card. For those who are always on the road, the Tires Plus Credit Card offered here is a must-have. There is no annual fee and it can be used at any of the numerous Tires Plus locations across the country for savings and discounts. It is a great card to have handy when you need maintenance or repair on your vehicle but do not want to break the bank when paying for it.