The editors of Moneymagazine have released their list of the best credit cards available, based on specific consumer needs. The top cards include:
IberiaBank Visa Classic: Best for Balance Transfers
Rate: 6.25 percent to 8.25 percent
This card offers zero interest on balance transfers for six months—and there's no balance-transfer fee.
Schwab Bank Invest First Visa: Best for Cash Back (Small Spenders)
Rate: 13.99 percent
Earn 2 percent unlimited cash back on every purchase. (Note: You must have a Schwab One brokerage account to open a credit line, but there are no fees to start or maintain it).
Blue Cash from American Express: Best for Cash Back (Big Spenders)
Rate: Starts at 7.99 percent plus prime
If you charge a minimum of $6,500 a year, your cash-back percentage rises from 1 percent to 5 percent on purchases at gas stations, grocery stores and drugstores, and from 0.5 percent to 1.5 percent on all other purchases.
Pentagon Federal Visa Platinum: Best for Gas Savings
Rate: 13.99 percent
Get 5 percent unlimited cash back at the pump, plus 2 percent on grocery purchases and 1.25 percent on all other purchases. (Note: You must join a credit union to be eligible to open the card.)
Escape by Discover: Best for Travel Rewards
Rate: 10.99 percent to 18.99 percent
Earn two miles for every dollar spent, plus 1,000 bonus miles during each month you make a purchase with the card for the first 12 months. (Note: Card requires a $60 annual fee.)
Source:
CNNMoney: Best Credit Cards
