December is the perfect time to find a credit card that fits your lifestyle. Whether you're dreaming of an exotic vacation, looking for rewards for everyday spending, or looking to build a solid credit history, there's a card to fit your needs. In this guide, we'll cover the best credit cards of the month, breaking down their rewards, benefits and selection criteria.
First Progress Platinum Prestige Mastercard® Secured Credit Card - Best Credit Card for No History/Poor Credit of December 2024
The First Progress Platinum Prestige Mastercard® Secured Credit Card is a secured credit card for people with a limited credit history. The Card earns 1% Cash Back rewards on payments. The First Progress Platinum Prestige Mastercard® comes with an annual fee of $49. The card's APR is 14.24% (Variable for purchases).
Capital One Platinum Credit Card - Best Credit Card for Fair Credit of December 2024
If you're new to owning a card, the Capital One Platinum Credit Card is a great one to start with. This card has no annual or foreign transaction fees. Depending on your payment habits, you can also expect to be considered for a higher credit line within six months of receiving the card. Lastly, you can enjoy full coverage from fraudulent charges in case your card is lost or stolen.
Chase Freedom Unlimited® Credit Card - Best Credit Card for Good Credit of December 2024
The Chase Freedom Unlimited® card comes with an excellent flat rate on all purchases, plus it earns you cash back in a few other bonus categories. You’ll get an unlimited 1.5% cash back for every dollar spent, as well as 5% on travel purchases made through Chase Ultimate Rewards, 3% on drugstore purchases and at restaurants (including take-out and eligible delivery services).
New cardholders earn a $200 sign-up bonus after spending $500 in the first 3 months of account opening. This is also a budget-friendly card as it doesn’t charge an annual fee and has a nice 15-month 0% APR offer on purchases and balance transfers. Once the intro period ends, a 20.49% - 29.24% variable APR is applied.
Citi® Double Cash Credit Card - Best Credit Card for Excellent Credit of December 2024
The Citi® Double Cash Credit Card offers a few concrete ways in which you can better your financial situation, improve your credit card habits and enjoy cash back rewards without the fuss of tracking rotating categories. Earn $200 Cash Back after you spend $1,500 on purchases in the first 6 months of your Citi Double Cash® card account opening. Earn 2% Cash Back on every purchase with unlimited 1% Cash Back when you buy, plus an additional 1% as you pay for purchases. The Citi® Double Cash offers a 0% percent introductory APR offer on balance transfers (19.24% - 29.24% variable APR after).
Key Factors to Consider When Choosing a Credit Card in December 2024
- Annual Percentage Rate (APR). Prioritize credit cards with low APRs on purchases and balance transfers to reduce your interest expenses, especially if you tend to carry a balance.
- Rewards Programs. Select a card with rewards tailored to your lifestyle. Options include cashback for everyday purchases, travel miles for frequent flyers, or reward points for flexible redemption.
- Fees. Avoid credit cards with high annual fees, steep late payment penalties, or foreign transaction charges. Choose a card that aligns with your budget and spending habits.
- Credit Limit. Ensure the card offers a credit limit that accommodates your spending needs without encouraging overspending. A balanced limit helps maintain a healthy credit utilization ratio.
- Promotional Offers. Leverage introductory promotions such as 0% APR on purchases or balance transfers. These can be particularly beneficial for managing large purchases or consolidating debt.
- Eligibility Requirements. Verify that your credit score matches the card's requirements before applying. This minimizes the risk of rejection and potential impacts on your credit score.
- Value-Added Benefits. Look for cards offering perks like travel insurance, extended warranties on purchases, price protection, and access to concierge services. These features can add significant value.
- Security Features. Choose a credit card with robust security measures, such as EMV chip technology, fraud detection systems, and zero-liability protection, to safeguard against unauthorized transactions.
- Payment Flexibility. Opt for a card that provides flexible payment options, such as extended grace periods, manageable minimum payments, and user-friendly online or mobile payment tools.
- Network Acceptance. Ensure the card is widely accepted both domestically and internationally. This is especially important if you frequently travel or shop from global retailers.
- Customer Service Reputation. Research the card issuer's track record for customer service. A responsive and reliable support team is crucial for resolving issues quickly and efficiently.
Conclusion
December offers a wealth of credit card deals, from holiday rewards to 0% APR offers and travel perks. Consider your spending habits, fees, and promotional benefits to pick the card that fits your needs. Make the most of this festive season and set yourself up for smarter finances in the new year!