Popular US Credit Cards on the Market

by admin on July 12, 2011

 The latest statistics from the US credit card market show that the highest number of cardholders prefers Visa. As of September 30, 2010, 269 million people in the United States have Visa credit cards. The next most popular brand is MasterCard with 171 million cardholders. Discover cards come in third with 54.4 million holders, and American Express come in fourth with 48.9 million.

So who do big players like US Bank, Wells Fargo, Chase, Barclaycard, Bank of America, Capital One, Citibank and HSBC measure up? An interesting offer by Citi keeps popping up; so, it is worth a brief review. We are talking about the Citi ThankYou Preferred Rewards Card – $50 Gift Card. If you decide to sign up for this card, the first thing you must accomplish is charging no less than three hundred bucks to it within the first three months of opening the account. After this you will get 6000 reward points and a $50 gift card. You will not be charged any interest on purchases and balance transfers in the first fifteen months. After that, the interest rate becomes 12.99 percent – 20.99 percent depending on your credit rating. This is above all a rewards card, so it is suitable for people who need a card that they will use often. There is no limit on the number of points you can earn.     

How does Capital One measure up to this? Capital One recently launched the Venture Rewards Credit Card. This is a good one for frequent travelers – there is no limit on the miles you can earn and the miles won’t expire. The first year, no fee is charged. No foreign transaction fees are charged either. You earn two miles per every dollar spent, no matter what you spend it on and when. You get 10,000 bonus miles in the form of $100 in travel expenses. Initially there is no interest on the card, after which it becomes 11.9 percent – 19.9 percent depending on your credit rating. Finally, one more perk – you can fly for absolutely free on any carrier you choose and at any time.

Clients of Wachovia can check the Wells Fargo Rewards Credit Card. The introductory interest rate is zero over the first six months, valid for balance transfers and purchases. Keep in mind that the introductory rate does not apply to cash advances. The standard rate is variable and based on the US prime rate. It is in the range 12.15 percent – 22.15 percent. The card goes with no annual fee. Clients are given the opportunity to protect and manage their spending online at no added cost, using tools such as My Money Map. Every dollar spent in purchases brings one bonus point. Points may be redeemed for brand-name merchandize, gift cards, cash, travel, rewards, and more. Some transactions and purchases will not earn you bonus points, including wire transfers, balance transfers, cash advances, wagers and bets transmitted online, and cash advances.

Last of all, one decent offer from American Express – the Premier Rewards Gold Card. New holders get a bonus of 15,000 points if they manage to spend $1,000 (charged to the card) in the first three months. Holders enjoy access to special travel packages and services at hotels throughout the world, as well as tickets to concerts, sporting events, and other occasions. In the first year, no annual fee is charged. Interestingly, you can be approved in less than a minute. Then again, the card is available only to clients with excellent credit. From there, the opportunities are endless.

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