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These Are the Best Credit Cards for 2016

[Sunday, February 21st, 2016]

If you’re looking for a shiny new credit card in 2016, good news: the list of best credit cards has been released. Whether you’re looking for a student card, a balance transfer card, a cash back card, or something else, these cards are the best of the bunch, according to one group of credit advisors.

Categories were chosen on the basis of people’s different needs, including low interest rates, travel rewards, and everyday spending. Cards were rated using information like fees, promotional APRs, ongoing APRs, sign-up bonuses, reward earning rates and redemption policies, ease of reward redemption, and reward options. Cards were eligible to win in more than one category.

The survey did not mention the best debit or prepaid cards, although these options are very popular, and in fact, preferred by many folks. Prepaid cards and debit cards have the added bonus of not allowing folks to fall into debt. However, they typically do not offer much in the way of rewards.

Here are the best of the best:

Best for everyday spending – Blue Cash Preferred Card from American Express won this category, making it a great card to keep on hand for day-to-day expenses. A low APR and good reward value make this one a wallet essential.
Easiest travel redemption – Barclaycard Arrival Plus World Elite MasterCard and Capital One Venture Rewards Credit Card tied for top marks in the travel category. Both offer perks for people who travel a lot, with easy reward redemption and good options for how to cash in reward points.
Best for fair credit – Barclaycard Rewards MasterCard made the grade for cards that are easy for people with fair credit to get. Having less than perfect credit doesn’t have to be a barrier to having a great credit card.
Best bonus categories – Chase Freedom has rotating reward categories that change each quarter, making this card good for folks who want to get 5% cash back in different spending categories each season.
Best business credit card – Chase Ink Plus Business Credit Card got top honors for small business owners, entrepreneurs, and others who need a business credit card with benefits specifically targeted to them.
Best for travel – Chase Sapphire Preferred is the top pick for those looking for a great all-around travel credit card. This card is one of the most popular, for more than just travel. Chase Ultimate Rewards is a great, high-value rewards point system.
Best for balance transfers – Chase Slate offers no balance transfer fee and a long period with 0% interest in which to pay off your debt.
Best cash back – Citi Double Cash Card is a new entry to the field, giving folks just what it says: twice the cash back.
Longest 0% APR period – Citi Simplicity Card gives people plenty of time to make purchases and pay them off without interest.
Best student credit card – Citi ThankYou Preferred Card for College Students is a great card for parents who want to put their kids on a good path toward healthy credit.

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