June 2024 Credit cards continue to evolve, offering consumers a variety of options to suit different financial needs and lifestyles.
This article highlights the best credit cards available this month, taking into account factors such as rewards, introductory offers, annual fees, and unique benefits.
First Progress Platinum Select MasterCard® Secured Credit Card - Best Credit Card for No history/Poor Credit of June 2024
The First Progress Platinum Select MasterCard® Secured Credit Card helps build credit without requiring a credit check or minimum credit score. It offers 1% cash back on payments made to the card account. The card has a variable APR of 19.24% for purchases and 25.24% for cash advances. It carries an annual fee of $39 and a 3% foreign transaction fee. This card is a good option for those looking to establish or improve their credit history.
Divvy from Cross River Bank - Best Credit Card for Fair Credit of June 2024
The Divvy Card is a corporate credit card, offering 1x to 7x rewards on purchases without a sign-up bonus. Points can be redeemed for travel, gift cards, statement credits, or cash back. It integrates with accounting software for streamlined expense management and real-time spending visibility. For more details, read the full review.
Upgrade Triple Cash Rewards Visa® - Best Credit Card for Good Credit of June 2024
The Upgrade Triple Cash Rewards Visa® offers substantial benefits, including 3% cash back on purchases related to home, auto, and health, and 1% cash back on all other purchases. Additionally, opening a Rewards Checking Plus account and completing three debit card transactions can earn you a $200 bonus.
This card features a variable APR between 14.99% - 29.99%, depending on your creditworthiness. You can apply online easily and receive a credit line ranging from $500 to $25,000, providing flexibility to meet various financial needs.
Capital One Venture X Rewards Credit Card - Best Credit Card for Excellent Credit of June 2024
The Capital One Venture X Rewards Credit Card offers a substantial welcome bonus of 75,000 miles when you spend $4,000 on purchases within the first three months of account opening.
You can earn 10x miles on hotels and rental cars booked through Capital One Travel, 5x miles on flights booked through Capital One Travel, and 2x miles per dollar on every other purchase.
This card has an annual fee of $395. The variable APR for purchases and balance transfers ranges from 19.99% - 29.99%. Additionally, there is a balance transfer fee of 4% of each transferred balance at a promotional APR, but no fee for balances transferred at the standard Transfer APR.
Overall, the Capital One Venture X Rewards Credit Card is ideal for frequent travelers who can maximize its travel-related rewards and benefits.
Important Factors When Choosing a Credit Card in June 2024
- Interest Rates (APR). The annual percentage rate (APR) on purchases and balance transfers is an essential factor, especially if you plan to carry a balance. Lower interest rates can save you money over time.
- Rewards Programs. Different credit cards offer various rewards such as cashback, travel points, or discounts on specific purchases. Determine which type of rewards align best with your spending patterns. For instance, if you travel frequently, a card offering travel rewards and benefits might be more suitable.
- Fees. Be aware of annual fees, late payment fees, foreign transaction fees, and other charges, opting for manageable or avoidable fees. Weigh the potential rewards and benefits against these fees to determine if the card offers enough value to justify the cost.
- Credit Limit. Ensure the credit limit suits your spending needs and creditworthiness.
- Introductory Offers. Take advantage of cards with 0% APR introductory periods on purchases or balance transfers for potential savings.
- Credit Score Requirements. Check if you meet the card's eligibility criteria based on your credit score.
- Cardholder Benefits. Look for cards that offer extra perks such as purchase protection, extended warranties, travel insurance, or concierge services. These benefits can add significant value beyond the basic rewards.
- Security Features. Prioritize cards with advanced security measures like EMV chips and fraud protection.
- Payment Flexibility. Assess payment options, including grace periods and online management ease.
- Network Acceptance. Ensure the card is widely accepted domestically and internationally for convenience during transactions and travel.
- Customer Service. Research the issuer's customer service reputation for efficient support.
Conclusion
Choosing the right credit card requires careful evaluation of several key factors to make sure it fits your financial goals and spending habits. Factors such as rewards programs, annual fees, interest rates and additional benefits play a crucial role in the decision-making process. By carefully evaluating these aspects, you will be able to choose a credit card that maximizes your benefits and fully meets your needs.