Best Credit Cards of 2017

If you are looking for a credit card, look no further.  We have analyzed all of the best credit cards of 2017 out there, and compiled a list of those cards that had the best offerings for customers.  When you have a credit card, and have good credit, you’ll soon realize that you can be getting a lot back from your credit card company in order to be a loyal and good customer of theirs.  What this means is that you can get paid something back by the credit card issuer for different types of purchases that you make with your card.

Get rewards for using your card for purchases

It is simple to get rewards, and you don’t really have to try very hard, or go out of your way in many cases to get these rewards.  Some credit cards will pay you only for certain purchases, while others will grant rewards for any type of purchase, and others like Amazon, Target and Costco give you more rewards when you purchase with their stores.   No matter how you go about generating your rewards, you will find that you’ve been missing out if you haven’t started to get your rewards already.

Tip:  When I had my previous business I generated a lot of rewards from business purchases, and this led to me buying multiple Apple Ipads, multiple Apple Macbook Pros, taking multiple trips and getting airline tickets and hotel rooms totally paid for by American Express.  Yes, there rewards were given to me as a result of me paying for things that I would have purchased anyway.  So, yes you can get some great advantages by signing up for and getting the right card for you.

When I say, the “Right Card”, I am referring to you getting the best card for you and your spending patterns.  To describe a little more, you’ll need to think about how you use your credit cards, and then decide which card will give you the greatest amount of rewards for the amount of money that you are planning to spend.

Top considerations when choosing a credit card:

  1. How much is your average spend per month and per year?  If you find that you are spending a lot each month on your credit card and those spendings are spread evenly amongst a lot of different retailers or stores, you may find it easiest to have a rewards card that pays the most for your total spend and the reward can either be a cash reward card, or a travel rewards card.
  2. Where do you spend most of your money: the gas station, the grocery store, on Amazon, at Costco, at Walmart?  If you find that you spend a lot on gas, or at the market, then you may decide that you want to specialize in the rewards cards that you have.  What I mean by this, is that certain rewards cards will provide a high benefit for gasoline, but not such a great reward for payments online or at traditional retailers.
  3. Do you spend a large amount at Amazon.com?  Amazon has burst onto the credit card scene with some great rewards cards that offer the prolific Amazon shopper with some crazy deals cards that can and will save you money.  You’ll get some great returns by shopping at Amazon with the Amazon Prime card.  The rewards are tiered and we will go into the details of the tiering of the rewards in a bit.  But just know, that you will want to look into the Amazon card if you spend a lot there or if you want to spend more there. The thing with this card, is that you will save on your spending by getting a percentage back on those things that you buy online at Amazon.com….can we all say…..OH YEAH!!!!
  4. Do you luv luv luv Costco like I do?  Let’s just say that I love to browse the isles at Costco, and even Costco.com.  Seriously though, what kind of family needs to buy 10 cans of corn at one time?  Right?  Nobody can eat that much corn…or can they?  If you are a regular at Costco, like I am, then you’ll want to make sure that you check out the credit card offers that have dropped at Costco.  The other thing is that the old Credit Card came complete with your picture on it and doubled as the membership card…I don’t think that is the case anymore.  The Card is similar to the Amazon.com card, in that the goal of this card is to get you to spend spend spend at Costco and Costco.com.  The returns start to get lucrative if you but a lot when you go to Costco, and like all cards, the more that you spend, the more rewards you will get.
  5. Can you say Walmart !!! and the rewards are interesting…I have found out why the world has loved Walmart for so many decades.  The Supercenters, are wickedly fun to browse around.  I can’t say that I browse the isles at Walmart…not even I can endure that….and I love to shop.  As you can see above, you save 3% on Walmart.com purchases, 2% on Walmart Gas, and 1% on anything else that you buy anywhere the card is accepted.
  6. Target…hits the bullseye with their rewards card
    Target likes to keep it straightforward and not complicated.  They like to make sure that you are able to not get confused with buying your groceries anywhere else.  So they don’t need to pay you extra for buying anything outside of Target.  If you are near a Target, check out their market and maybe you can buy everything you need at Target for your home.  Target doesn’t do gas.  But this great offer will get you a savings of 5% back on those things that you buy at Target.  The prices at Target are higher than Walmart and Amazon in some cases, but Target just did in Sept 2017 issue a press release that they are going to get aggressive in marking down everyday items.  So get back to target and get into using their rewards card, or as they like to call it … THE RED CARD.  I have one…do you?
  7. The biggest reward bang for the buck ???  I’m the kind of person who sprays my credit card all over the place and use it as close to 100% of the time.  Do you?  If you don’t do this, then ask yourself why you don’t?  Right?  As we are seeing here, you are getting paid by the companies that you like to shop at.  Why not save 3% at Walmart?

 

To provide some final comments here…boost your spending on your credit cards!!!  You say…HUH?  Well let me clarify what I mean.

  1. Know your budget – Use our budget spreadsheet if you need something to get you started.
  2. Limit spending money and don’t spend money on things you don’t need
  3. BUT – for any and all legitimate purchases put them onto a credit card that pays you back money on the things that you purchase everyday.  If you can pay your rent with a rewards card, why not?  I just recently bought a new car, and I put as much as I could for the purchase on my rewards credit card.  The dealership said….sorry….that is the maximum that we can accept by credit card.  But that down payment on the car that I was buying just saved me some money on my vacation that isn’t yet planned for the next year.
  4. Finally, and most importantly, NEVER LEAVE A BALANCE ON YOUR CREDIT CARD !!!!  (Is that enough exclamation points?)  If you cannot pay it off on the next statement then you shouldn’t be buying it.  Now, like all things in life there are exceptions, but just be forewarned, don’t bother with a rewards card if you are paying more than 10% on a balance on your credit card.  I think that many people make the mistake of carrying a balance on any credit card…rewards or regular.

I hope that this primer has been a good start to understanding the different types of rewards credit cards, and how you can work them into your life.  Please understand, that I’m in no way saying that you should just spend in order to get rewards…that is lunacy.  But for those spending items that you HAVE TO BUY anyways…like groceries, gas, downpayment on your car.  Use the cars where you can and start to earn back money from the credit card companies.