It turns out 2018 is a great time to be in the market for a new credit card. Sure, interest rates may be on the rise, but with the booming economy Americans are also spending more. That means the competition for borrowers is fierce and issuers are offering plenty of cards with consumer-friendly terms.
“Banks have still been aggressive,” says Brian Karimzad, co-founder of . “If you have a big purchase or have a balance you think is pretty close to getting paid off, there are still opportunities to save on interest.”
Beyond that, the best credit card offers today encompass an ever-expanding world out there of perks, points and credits. The trick is figuring out which combination adds up to the best credit card for you.
To do this, think about how you want to use your new credit card to figure out which features will give you the most bang for your buck, Karimzad advises. Are you trying to build credit, for yourself or your business? Do you want to rack up lots of rewards, or get perks like airline lounge access? Or are you trying to borrow strategically, either to pay down debt or make a big purchase? The best travel credit card isn’t necessarily the best rewards credit card, and neither of those would be the best credit card if you’re looking for a low APR to make a big purchase or transfer a balance.
You’ll have the greatest number of choices — and be eligible for the cards with the most tantalizing perks — if your credit is good, but there’s a card out there for everyone — and responsible use of credit is the best way to improve your credit score and your access to the cards with the most generous terms.
Whatever your reason for getting a new credit card, MONEY and have sifted through hundreds of cards to find the best in nine different categories. Here are the best credit cards of 2018, the cards that will deal a winning hand to your finances.
All credit card terms are as of Aug. 28, 2018