Credit Cards of 2018

From huge sign-up bonuses to generous rewards, we've picked credit cards that stand out from the crowd. Compare these deals, some of which are from our partners, to find the right one for you.

Great for: Airline Miles and a Large Bonus

Chase Sapphire Preferred® Card

Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®

Great for: Cash-Back Pairing with Chase Sapphire Preferred®

Chase Freedom Unlimited®

0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.74-25.49%. Balance transfer fee is 5% of the amount transferred, $5 minimum.

Great for: Cash Back with No Foreign Fee

Capital One® Quicksilver® Card - 0% Intro APR for 15 Months

One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening.
Earn unlimited 1.5% cash back on every purchase, every day.

Great for: Cash sign-up bonus

Wells Fargo Cash Wise Visa® Card

Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months.
Earn unlimited 1.5% cash rewards on purchases.
Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay®

Great for: 5% Bonus Categories and First Year Cashback Match

Discover it® Cash Back

INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
Earn 5% cash back at different places each quarter like gas stations, grocery.

Great for: No Annual Fee Rewards

Bank of America® Travel Rewards credit card

Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire.
NEW OFFER: 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250.

Great for: Easy Flat Rate Travel Rewards

Capital One® Venture® Rewards Credit Card

Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel.
Earn 2X miles on every purchase, every day. Plus earn 10X miles on thousands of hotels; learn more at hotels.com/venture.

Great for: Flat Rate Cash Back

Citi® Double Cash Card – $150 Cash Back Offer

Earn $150 cash back bonus after $500 in purchases within the first 3 months of account opening.
Cash back bonus is not available if you have had Citi® Double Cash card opened or closed in the past 24 months.

Bank Credit

What is a 'Bank Credit'

Bank credit is the aggregate amount of credit available to a person or business from a banking institution. It is the total amount of funds financial institutions provide to an individual or business. A business or individual's bank credit depends on the borrower's ability to repay and the total amount of credit available in the banking institution.

BREAKING DOWN 'Bank Credit'

Bank credit for individuals has grown immensely over the past 50 years, as consumers have become accustomed to having multiple credit cards. Some experts predicted that the 2008 financial crisis was a red flag that meant a return to previous years, when credit, although relatively inexpensive, was difficult to obtain, especially for people with poor credit histories.

Bank credit is an agreement between banks and borrowers where banks trust a borrower to repay funds plus interest for either a loan, credit card or line of credit at a later date. It is money banks lend or have already lent to customers.

Bank credit is the total borrowing capacity banks provide to borrowers. It allows borrowers to buy goods or services. However, it requires a fixed minimum monthly payment for a specified period. For example, the most common form of bank credit is a bank credit card. Borrowers start with a zero balance and use the card to make transactions. The borrower pays off the balance and borrows again until the credit limit is reached.

Bank Credit Approval

Bank credit approval is dependent upon a borrower’s credit rating and income or other factors such as assets, collateral or total existing debt obligations. There are several ways to ensure approval, such as reducing the total debt-to-income ratio. An acceptable debt-to-income ratio is 36%; however, 28% is ideal. Borrowers ought to keep card balances at 20% or less of the credit limit and pay off all late accounts. However, banks offer credit to borrowers with poor credit histories with terms that are the most favorable to the banks but the least favorable to borrowers.

Fees

Bank credit comes at a cost. The cost and terms vary by bank, credit type, the borrower’s credit rating and the purpose of the funds. There are two types of bank credit secured and unsecured. Both have different requirements, fees, interest rates, terms and conditions and regulations. Fees include the amount borrowed plus interest and other charges. Some fees are mandatory, such as interest rates; some are optional, such as credit insurance; and some are event-driven, such as late payment fees.

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