Signing up for a credit card is a big deal. Many people avoid any sort of credit card, fearful of all the horror stories they’ve heard about hefty charges. Indeed, if used improperly, people can end up in a great deal of credit card debt.
But that’s not the whole story. The reality is that when used correctly, credit cards are a great way to earn, too. In fact, many of the best credit cards can make you hundreds or even thousands of dollars.
This can be done in a number of ways including taking advantage of sign up bonuses, cashback credit cards, and even credit card arbitrage. It should be mentioned that many credit cards offer cashback on specific types of purchases, such as gas, airfare or grocery shopping, for example, so you need to be sure if you will actually take advantage of this and use the card only at the right places.
Don’t be so fearful of that piece of plastic! Get the right deal and use it properly and it may just become your best friend.
Top 5 credit card deals of 2019
We’ve rounded up the best credit card deals available today to make life easier for you.
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card is consistently rated one of the best credit cards of 2019 so far, receiving praise from NerdWallet, Business Insider, and creditcards.com.
With the Preferred® Card, cardholders can redeem a huge $625 towards airfare and hotels or $500 in cash when they reach 50,000 points. It’s ideal for those that need to travel a lot, especially for those who frequently travel abroad, and it has $0 foreign transaction fees.
Chase has also made it super easy to gain points, receiving 1 point for every $1 spent, which is multiplied by 2 when traveling in the US or abroad.
But perhaps the most enticing parts of this deal is that you will instantly receive 50,000 bonus points if your purchases top the $4,000 mark within three months of operating your account.
UnitedSM Explorer Card
Another great option from Chase, the UnitedSM Explorer Card offers 40,000 bonus miles when your purchases top the $2,000 mark within the three months of your account opening.
For those that fly frequently, this is perhaps the best option. In a number of ways, it is similar to the Preferred card, however, it’s a lot more focused on flying. Payments for WIFI, food, and beverages can attract up to 25% discount when using Explorer Card on United flights.
It is also incredibly easy to build up points with the Explorer Card, too. For every purchase you make, you receive 1 mile per $1. However, for any purchases made at restaurants, hotels, or at United (including tickets and any on flight purchases), you can receive 2 miles per $1.
Discover it ® Cash Back
If you’re just looking to get cold hard cash back for your purchases, the Discover it® Cash Back card is just what you’re looking for. This is an especially good option for those who don’t want the distraction of rewards or flight miles.
With this card, you can get up to 5% when you make purchases at specific places for things like gas and groceries. For all other purchases, you will always receive 1% cash back, which means you’re always earning.
Discover also offer cardholders the ability to redeem their rewards whenever they want in the size they want and even use them at Amazon.com. On top of that, with Cashback Match™ Discover will automatically match all of your cash back for your first year.
American Express Platinum Card®
American Express is quite simply the kings of credit cards. They’re arguably the most iconic credit card provider around the world and their Platinum Card® is a great way to get a number of excellent benefits.
There are tons of rewards that come with this card, including $15 in Uber credit every month, 5x membership points on any flights or hotels booked with your Platinum card, and a vast number of luxury rewards specifically for frequent flyers.
Currently, with the Platinum card, you can earn 60,000 (and in some cases 75,000) points when you spend $5,000 on purchases in the first three months, which is quite competitive.
Capital One® Quicksilver®
Capital One® Quicksilver® Credit Card is a solid all-rounder and a great choice for those who want to feel like they are always earning, offering 1.5% cash back on every single purchase.
Currently, new cardholders can also get $150 after spending $500 in the first three months, too. Capital One is also a great option for those looking for roadside assistance and travel accident insurance, for example.
Though the Quicksilver card has a broader range of uses than some cards, it is also a good option for those who travel as well, giving cardholders the ability to use their miles at any of Capital One’s 10+ airline partners and no foreign transaction fees.
How to decide
First and foremost, you need to have a good understanding of your finances and your spending habits.
If you are someone who often forgets to pay due bills on time, then getting a credit card might not be the best idea and you may end up losing money instead of making money, or even worse, in debt.
Secondly, if you really want your credit card to work for you, it should be a card that fits your spending habits and gives you rewards that you will actually use. If you don’t travel that often, a credit card that is oriented towards travel isn’t very useful.
You should also look into the terms and conditions. Never overlook the fine print. You may notice that that great credit card deal is not as great as it originally looked. It is also noteworthy that conditions can change over time and so, a deal that was great a couple of months ago, may end up useless to you later on.