Best 5 Credit Cards Offers of 2020
Before the current pandemic you probably used credit cards that suited your lifestyle. If you were a frequent flyer, you probably had the Chase Preferred card. If you used Uber like me, you had the Uber Visa credit card. Now that were all indoors for the most part all Americans are spending money on three things which are groceries, streaming, and online shopping.
To get the most cash back out of your new everyday spending habits it is time to re-evaluate your credit card benefits. With that said, the cards below are the best on the market today.
1. American Express Blue Cash Preferred – This card is at the top of my list. It offers 6% cash back at U.S. supermarkets, 6% cash back on select U.S. streaming subscriptions, and 3% cashback for gas and transit including ride shares. If you spend $1,000 in the first 3 months, you will also trigger a $250 statement bonus which will cover the $95 annual fee your first year. Expect to need a 690 credit score in order to qualify.
2. American Express Green Card – This is my second favorite card on the list. After spending $2,000 in the first 3 months you will earn 30,000 membership rewards points. You will also receive triple the points at restaurants including take out and triple the points on travel. There is a $150 annual fee, but you will make this up due to the shift in your daily spending. I’m optimistic we’ll get to travel comfortably again in the future and when that time comes you’ll want to have those points to use on standby. You will need excellent credit to qualify for this card.
3. Chase Freedom Unlimited – A simple card you can utilize. This card will earn you 1.5% cash back on every purchase plus a $150 bonus after spending $500 on purchases within your first 3 months. The only knock on this card is you will incur a foreign transaction fee if you use it internationally. You may be able to get it with a credit score of 700.
4. Discover it Cash Back – If you are like me and have been addicted to Amazon since quarantine began then this is a card you should consider. Depending on the quarter of the year you can get 5% cash back for Amazon purchases, groceries, gas, and restaurant bills. You will get 1% cash back on everything else. That is hard to beat and you just need a 700 credit score to qualify.
5. Citi Double Cash Card – If you want to keep it very simple then this is a great card for you. The double cash card will earn you 2% cash back on every purchase and there is no annual fee. Like the Blue Cash Preferred you will need an excellent credit score to qualify.
No matter which card you go with you will get a great return based on our current spending habits. Just remember to always use credit responsibly and pay off your bill on time to avoid additional fees. What is your favorite card to use right now? Share it in the comments below.
