Best Credit Cards For Building Credit And Travel
When it comes to building credit, using a credit card responsibly can be an effective way to establish a positive credit history. However, not all credit cards are created equal. Some credit cards offer better perks and rewards for travelers, while others are specifically designed for those who are building or rebuilding their credit score. In this article, we'll take a closer look at the best credit cards for building credit and travel.
Discover it Secured
The Discover it Secured credit card is a good option for those who are looking to improve their credit score. This card requires a security deposit, which will serve as your credit line. The security deposit can be as low as $200 and as high as $2,500, and your credit limit will be equal to your deposit amount. This card also offers cash back rewards, with 2% cash back on up to $1,000 spent at gas stations and restaurants each quarter, and 1% cash back on all other purchases. Discover will also monitor your credit score, and you can access your FICO credit score for free on your monthly statements.
Capital One QuicksilverOne Cash Rewards
The Capital One QuicksilverOne Cash Rewards credit card is another great option for those who are looking to build their credit score. This card offers 1.5% cash back on all purchases, which can add up quickly if you use your card for everyday expenses. The card also has a $39 annual fee, which is relatively low for a rewards credit card. With responsible use, this card can help you establish a positive credit history and earn rewards at the same time.
Chase Sapphire Preferred
If you're a frequent traveler, the Chase Sapphire Preferred credit card is one of the best travel rewards credit cards on the market. This card offers 2 points per dollar spent on travel and dining, and 1 point per dollar spent on all other purchases. You can also earn a sign-up bonus of 60,000 points after spending $4,000 within the first 3 months of opening your account. The card has a $95 annual fee, which is waived for the first year. If you travel frequently, the rewards you can earn with this card can be worth far more than the annual fee.
Bank of America Travel Rewards
The Bank of America Travel Rewards credit card is another great option for travelers. This card offers 1.5 points per dollar spent on all purchases, with no annual fee. You can also earn a sign-up bonus of 25,000 points (equal to $250 in travel credits) after spending $1,000 within the first 90 days of opening your account. The card also offers a 0% introductory APR on purchases for the first 12 billing cycles. This card is a good choice for those who want to earn travel rewards without paying an annual fee.
Citi Secured Mastercard
The Citi Secured Mastercard is another good option for those who are looking to rebuild their credit score. This card requires a security deposit of $200 to $2,500, and your credit limit will be equal to your deposit amount. The card also reports to all three major credit bureaus, so using it responsibly can help you build your credit score over time. This card does not offer rewards, but it does have no annual fee and a relatively low APR compared to other secured credit cards.
Conclusion
When it comes to building credit and earning travel rewards, there are many credit cards to choose from. However, it's important to choose a card that meets your specific needs and budget. Consider factors such as annual fees, rewards programs, and interest rates before choosing a credit card. With responsible use, a credit card can be a valuable tool for building your credit score and earning rewards for travel.