Take advantage of the summer season as an opportune time to use a number of top-notch credit cards, each offering travel perks and rewards that meet your financial requirements. In our selection of the best credit cards, you'll find something truly extraordinary, designed just for you.
First Progress Platinum Prestige Mastercard® Secured Credit Card - Best Credit Card for No history/Poor Credit of August 2023
The First Progress Platinum Prestige Mastercard® Secured Credit Card serves as an option for individuals with a limited credit history.
This Card allows you to earn 1% Cash Back rewards on payments.
With the First Progress Platinum Prestige Mastercard®, an annual fee of $49 is applicable. The card's Annual Percentage Rate (APR) is 14.49% Variable for purchases.
KeyBank Key Cashback® Credit Card - Best Credit Card for Fair Credit of August 2023
The Key Bank Cashback® Credit Card enables you to earn 1.5% Cash Back on every purchase, while banking and saving with Key yields an enhanced 2% Cash Back.
Enjoy a 0% introductory APR offer for balance transfers during the initial 12 billing cycles after opening your account. This applies when transferring balances within the first 60 days after account opening. Following this period, your APR will range from 22.24% - 29.24% based on your creditworthiness.
Citi® Double Cash Credit Card - Best Credit Card for Good Credit of August 2023
With the Citi® Double Cash Credit Card, you will earn 1% when you make a purchase and an additional 1% when you pay for it. This simplicity is accompanied by no limits, no categorization, and no restrictions on caps.
For new cardholders, an appealing 0% APR introductory offer for balance transfers awaits, which remains valid for the initial 18 months. After the conclusion of this offer period, a variable APR ranging from 19.24% - 29.24% will be applicable. Moreover, during the first 4 months, an introductory fee of 3% applies to each transfer, which subsequently becomes 5% (with a minimum of $5 in both cases).
Despite the absence of a one-time offer, this card compensates with its impressive cash-back potential and the added benefit of no annual fee.
The Blue Cash Everyday® Card from American Express - Best Credit Card for Excellent Credit of August 2023
The Blue Cash Everyday® Card from American Express presents an opportunity to receive up to $200 back by spending $2,000 within the initial 6 months. Additionally, it enables you to earn 3% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 3% Cash Back on U.S. online retail purchases (on up to $6,000 per year in purchases, then 1%), 2% Cash Back at U.S. gas stations, and 1% Cash Back on other purchases. The cash back is provided in the form of Reward Dollars, which can be redeemed as a statement credit.
Furthermore, the Blue Cash Everyday® Card from American Express offers an introductory 0% APR on both purchases and balance transfers for 15 months. Subsequently, a variable APR ranging from 18.74% - 29.74% becomes applicable.
With this Card, you have the flexibility to either carry a balance with interest or pay in full each month.
Key Factors to Consider When Choosing a Credit Card in August 2023
- Interest Rates (APR). Look for credit cards with competitive Annual Percentage Rates (APR) for both purchases and balance transfers. Lower APRs can save you money in interest charges.
- Rewards Programs. Many credit cards offer rewards programs, such as cash back, points, or miles for every dollar spent. Consider which type of rewards align with your spending habits and preferences.
- Fees. Be aware of annual fees, late payment fees, foreign transaction fees, and any other potential charges associated with the card. Choose a card with fees that you can manage or avoid.
- Credit Limit. The credit limit determines how much you can charge to the card. Make sure the limit suits your spending needs and creditworthiness.
- Introductory Offers. Some credit cards offer introductory periods with 0% APR on purchases or balance transfers. These can be advantageous if you plan to make a large purchase or need to transfer existing debt.
- Credit Score Requirements. Different cards have varying credit score requirements. Check if you meet the eligibility criteria for the card you're interested in.
- Cardholder Benefits. Look for additional perks such as travel insurance, extended warranties on purchases, price protection, and concierge services.
- Security Features. Consider cards with enhanced security features like EMV chips and advanced fraud protection to safeguard your financial information.
- Payment Flexibility. Evaluate the card's payment options, including the grace period for payments, penalties for late payments, and the ease of managing payments through online platforms.
- Network Acceptance. Ensure the credit card is widely accepted, both domestically and internationally, to avoid any inconvenience during travel or purchases.
- Customer Service. Research the issuer's customer service reputation. Efficient and responsive customer support can be crucial in case of issues or questions.
Conclusion
Thus, getting to know the best credit cards as of August 2023 is a valuable chance to understand the variety of financial tools at your disposal. These credit cards not only promote potential savings and rewards accumulation but also lay the foundation for a stable financial future.