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The October issue of Money Magazine has once again named their picks for the best credit cards of 2015-2016, and cards from Citi, a Credit-Land.com advertising partner, Discover, and Barclays have taken top honors in the cash back, shopping, and travel categories.
Fourteen cards were deemed best-in-class, in categories like best cash back card, best frequent flyer card, best hotel rewards card, best card for carrying a balance, best card for students, and best business credit cards. They considered factors like introductory and ongoing interest rates, sign-up bonuses, fees, and reward offerings.
Here's the rundown on Money's choices, along with key features of each:
- Citi® Double Cash Card – 18 month BT offer - best cash back card, with great balance transfer offer, no annual fee, and 2% cash back on all purchases: 1% when you buy and 1% as you make payments for those purchases.
- American Express Blue Cash Preferred - best for maximizing cash back, with 0% APR on purchases and balance transfers for 15 months, a $75 annual fee, and 6% cash back on up to $6,000 in grocery store purchases.
- Starwood Preferred Guest - best hotel rewards card, with an annual fee of $95 and a sign-up bonus of 25,000 points after spending $3,000 in the first 90 days.
- Northwest FCU FirstCard - best student card, with no annual fee, an ongoing APR of 10%, and a fixed credit limit of $1,000 designed to keep students from getting too deep into debt.
- Digital Credit Union Visa Platinum - best card for carrying a balance, with an APR starting at 8.5% and no balance transfer fee.
- Chase Slate - best for balance transfers, with 0% on transfers for the first 15 months and no fee for transfers in the first two months.
- U.S. Bank Business Edge Platinum - deemed the best card for businesses borrowing money, this card offers 0% on purchases and balance transfers for a year, and has no annual fee.