What are the Top Credit Cards of 2016?

Top Credit Cards of 2016: Expert Reviews and Recommendations

When it comes to choosing a credit card, the options can seem overwhelming. With so many rewards, fees, and interest rates to consider, it can be difficult to know which card is truly the best fit for your financial needs and goals. That's where expert reviews and recommendations come in. In this article, we'll take a closer look at some of thetop credit cardsof 2016, as well as some tips and tricks for maximizing your credit card benefits and minimizing your risks.

Cashback Cards: Get More for Your Money

Cashback credit cards are a popular choice for many consumers, as they offer a simple, straightforward way to earn rewards on everyday purchases. One top cashback card of 2016 was the Chase Freedom card, which offers 5% cash back on rotating categories such as gas stations, restaurants, and department stores. Another popular choice was the Citi Double Cash card, which offers 1% cash back on all purchases, plus an additional 1% cash back when you pay your bill on time.

Travel Rewards Cards: See the World for Less

If you're a frequent traveler, a travel rewards credit card may be the best choice for you. One top travel card of 2016 was the Chase Sapphire Preferred card, which offers 2x points on travel and dining purchases, as well as a sign-up bonus of 50,000 points (worth $625 in travel) after you spend $4,000 in the first three months. Another great option is the Capital One Venture card, which offers 2x miles on all purchases and a sign-up bonus of 40,000 miles (worth $400 in travel) after you spend $3,000 in the first three months.

Balance Transfer Cards: Get Out of Debt Faster

If you're struggling with credit card debt, a balance transfer card may be the best way to save money on interest and pay off your debt more quickly. One top balance transfer card of 2016 was the Chase Slate card, which offers 0% APR for the first 15 months on balance transfers (with no balance transfer fee), as well as 0% APR for the first 15 months on purchases. Another good option is the Citi Simplicity card, which offers 0% APR for the first 21 months on balance transfers (with a 3% balance transfer fee) and 0% APR for the first 12 months on purchases.

Tips and Tricks for Maximizing Credit Card Benefits

No matter which type of credit card you choose, there are some simple tips and tricks you can use to get the most out of your benefits. First and foremost, make sure you're paying your bill on time and in full every month, in order to avoid interest charges and late fees. Additionally, take advantage of any rewards or cashback programs offered by your card, and consider setting up automatic payments or alerts to help you stay on track.

Minimizing Risks and Fees: How to Avoid Common Credit Card Pitfalls

While credit cards can be a valuable financial tool, they also come with some risks and fees that you'll want to be aware of. For example, some cards may charge annual fees, late fees, or foreign transaction fees that can add up over time. To avoid these costs, make sure you read the fine print on your credit card agreement and choose a card that fits your budget and spending habits. Additionally, be careful not to overspend or carry a balance from month to month, as this can lead to high interest charges and a cycle of debt.

Credit Card Companies: Which Ones Are the Best?

Finally, if you're still not sure which credit card is right for you, it may be helpful to look at some of the topcredit card companiesin the industry. Some of the most well-known credit card companies include Chase, Citi, Capital One, and Discover, all of which offer a variety of rewards, benefits, and fees to choose from. To find the best card for your needs, consider doing some research online, reading expert reviews, and talking to other consumers who have experience with different credit cards. With a little time and effort, you can find the perfect credit card to help you reach your financial goals.