Why You Should Aim for 1% Credit Utilization

by Cory Santos
why-you-should-aim-for-1-credit-utilization

Last updated on August 24th, 2023

Credit utilization is a term you’ll often hear when it comes to credit scores. Keeping your credit utilization (also known as credit use) below 30% is commonly cited as one of the best ways to raise a bad credit score. The lower your use, however, the better the results for credit repair. But why not aim lower? Here’s why you should strive for 1% credit utilization.

What Is Credit Utilization?

First, a brief refresher course on credit utilization: Credit utilization has the second-largest impact in determining your credit score. Approximately 30% of a FICO score comes from credit use – trailing only payment history (35%).

Credit utilization may seem confusing, but it’s a straightforward principle. Your bank lends you money through a credit card, and your usage refers to how much of that available credit you are spending. If you have a $1,000 credit limit and a card balance of $500, your credit use is 50%.

Why Aim for 1% Credit Utilization?

Keeping your credit use below 30% is one of the easiest ways to maintain a healthy credit score. For those looking to raise their credit score, keeping credit utilization below 10% is even better. Essentially, the lower you reduce your credit use, the better. So why 1% credit utilization and not 0%?

Having a credit use percentage of zero doesn’t necessarily mean you aren’t using your credit cards. Although it could, it may also mean you are repaying what you spend immediately. Still, as CNBC reports, some credit bureaus dislike 0% credit utilization. The reason for this disapproval is that bureaus view the cardholder as not using their credit at all – making them less attractive to lenders who make their money off interest payments.

How to Reach 1% Credit Utilization

So, how do you reach 1% credit use? The easiest way to achieve this goal is by having multiple credit card accounts. Keep your utilization at zero for all cards except the one you use the most. Then, try and keep that card’s utilization rate as low as possible.

If the 1% usage rate seems impractical, try to keep your credit use in the single digits. Having a usage rate of 5%, for example, will dramatically improve your credit score in as little as a few months.

Credit Use Hacks

If you are looking to raise your credit score quickly but aren’t sure if your credit utilization is low enough, there are simple tricks you can use. One such method is opening a secured card account and making a large deposit. This is something covered recently in a related article: Can You Raise Your Credit Score By 100 Points in a Month?

A card, like the OpenSky Visa Credit Card, features no credit check, for instance. If you want to decrease credit use dramatically, open an OpenSky account and place a large deposit. You won’t have to worry about the negative impact of a hard inquiry on your credit score while still seeing a significant drop in overall credit use.

Conclusion

If you are looking to raise your credit score, keeping your credit utilization low is critical. No credit use appearing on your credit report, however, might result in more negatives than positives. For this reason, try to keep your credit use as close to 1% as possible.

Related Article: Can You Lose Your House Because of Credit Card Debt?

How to Improve Your Credit Utilization Ratio

by Cory Santos
How to Improve Your Credit Utilization Ratio

Last updated on February 28th, 2023

Spiraling inflation is leading to an overreliance on credit cards by millions of Americans. But o9ver-relying on credit cards can lead to significant financial distress, including debt, missed payments, and loss of credit opportunities. Here is how to lower your credit utilization, helping to raise your credit score:

What Is Your Credit Utilization Ratio?

You need a low credit utilization ratio if you want a high credit score. Suppose you want to qualify for the best interest rates and the most prestigious credit cards. In that case, you need a low credit utilization ratio. What is the credit utilization ratio (also known as credit utilization rate)? It’s a percentage of how much of your total available credit you are using.

To calculate the credit utilization ratio, divide your current balance amount by your credit limit. To determine your total utilization ratio across all your credit cards, follow the same procedure after adding all balances and all spending limits.

What is the Highest Credit Utilization Before You Harm Your Credit Score?

Keeping credit utilization low is essential for boosting your credit score – but how low should you go? Generally speaking, keeping your credit utilization below 30% is essential for slowly building your credit. If you want to build credit faster, try aiming for around 10% credit utilization.

The general rule of thumb is to maintain a utilization ratio of less than 30%, though ideally, it should be as close to 0% as possible. Why?

Suppose you are using a small portion of your credit. In that case, you demonstrate to banks and credit card issuers that you can afford to pay your bills and spend money responsibly. This is because the higher your credit use, the riskier you appear to potential lenders.

How Can You Decrease Your Credit Utilization?

If your credit utilization ratio needs improvement, or if you want to learn the best practices for keeping it low, here are some helpful tips:

Decrease Spending

The most straightforward way to ensure your credit utilization ratio stays low is to not spend less money. Set a budget that you can stick to, ensure that your necessary expenses are taken care of first, and keep your impulse purchases to a minimum.

Pay your Statement More Often

No boundaries are keeping you from paying your statement balance only once a month and only by its due date. Try dividing the amount you owe in two and task yourself with paying off each half on different dates. You might find erasing your debt more manageable. In fact, you could even think of it as a game; rather than dealing with one lump sum, chip away at your balance little by little until you can get it down to $0 before the statement due date.

Learn When Your Card Issuer Reports

Another reason to consider paying off your balance early and often is because, depending on when your card’s issuer reports your balance to the credit bureaus (TransUnion, Experian, and Equifax), your credit utilization ratio may be higher or lower than in real time. For instance, imagine your statement due date is on the 25th of the month, but the card issuer reports your balance on the 15th. Suppose you have a large balance and pay it off on the 20th. In that case, you will still have done your job responsibly. Still, your reported utilization ratio won’t reflect that until the following month. To keep your credit history accurate as often as possible, contact your card issuer and ask when they report customers’ balance information. After that, you can use either plan accordingly or ask to change your billing due date.

Setup Balance Alerts

Technology has made it easy for people to check their finances at a moment’s notice. However, even with such convenience, people may not develop a habit of keeping track of their credit card activity. If you don’t look at your online account often, try setting up alerts that will notify you when your balance has reached a certain amount. You can also go a step further and calculate your card’s 30% utilization number and set up an alert for when you hit a lower balance. That way, you can focus on paying down what you owe with room to spare.

Request a Higher Credit Limit

If reducing your average spending proves to be challenging, you can try a reverse method and contact your card issuer to ask for a higher spending limit. Doing so will increase your overall credit line and thereby lower your utilization ratio. There is a catch, though. The card issuer will most likely perform a hard inquiry of your credit report to determine whether you deserve an increase, which may negatively impact your credit score by knocking off a few points. In addition, the hard inquiry will remain on your credit report for about two years, so you’ll want to weigh those consequences before going through with your request.

Open a New Account

Applying for a new card is an alternative to asking for a credit increase. A new credit card has the same downside as asking for a spending limit increase on an existing card, though: You’ll have to take the hit of a hard inquiry. In addition, your application may be denied if your overall credit isn’t favorable.

Ideally, it would help if you aimed for a balance transfer credit card. The very best balance transfer credit cards provide lengthy 0% intro APR periods on balance transfers, low interest rates after that, and no annual fee. Many balance transfer cards also feature no balance transfer fees during a promotional period, making it even easier to increase overall credit while quickly dropping overall credit use.

Keep Inactive Accounts Open and Active

If you have one or more credit cards you no longer use, you’ll do yourself a favor by keeping them open. By closing untouched accounts, you’ll reduce your overall available credit, and your utilization ratio will rise. Plus, keeping all your accounts open is great for the length of your credit history, which influences your credit report and credit score. Being charged a fee for having an inactive credit card account is no longer common. Still, you can make a small purchase with it occasionally to be on the safe side.

Related Article: Rising APRs Require Credit Card Debt Strategies

Featured image by Matthew Henry/Burst

The 4 Best Black Friday Credit Cards

by Cory Santos
top black friday credit cards

Last updated on April 3rd, 2024

With the holiday season upon us once again, it’s time to talk Black Friday, holiday shopping, and the best credit cards for a deal-heavy time of the year. Whether you’re looking to build up your cash back to redeem for a statement credit, a gift card, or something else, here are our picks for the best credit cards to accompany you on Black Friday shopping:

At a Glance


Citi Custom Cash℠
Discover it® Cash Back
Capital One® Walmart Rewards™
Simon® American Express® Card

The Best Black Friday Credit Cards

Here are four of our top choices for Black Friday shopping this year:

Citi Custom Cash℠ Card

Citi Custom Cash℠ Card
Visit Card Site Terms & Conditions
Excellent-Good
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
Mastercard Processing Network
$0 Annual Fee

Citi Custom Cash℠ Card

  • 18.99% - 28.99% (Variable) Regular Purchase APR
  • 18.99% - 28.99% (Variable) Balance Transfer APR
  • 29.99% (Variable) Cash Advance APR
  • 0% for 15 months on Purchases Intro Purchase APR

At a Glance

The Citi Custom Cash? Card is a generous cash back credit card that offers up to 5% back on eligible purchases. The card, from Citi, does not charge an annual fee and rewards 5% back on the top spending category each month, with options including transit, travel, gas, groceries, dining, and more.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
  • 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 18.99% - 28.99%, based on your creditworthiness.
  • Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.
  • No rotating bonus categories to sign up for - as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
  • No Annual Fee
  • Citi will only issue one Citi Custom Cash℠ Card account per person.
  • Intro Purchase APR: 0% for 15 months on Purchases
  • Regular Purchase APR: 18.99% - 28.99% (Variable)
  • Intro Balance Transfer APR: 0% for 15 months on Balance Transfers
  • Balance Transfer APR: 18.99% - 28.99% (Variable)
  • Balance Transfer Transaction Fee: 5% of each balance transfer; $5 minimum.
  • Cash Advance APR: 29.99% (Variable)
  • Cash Advance Transaction Fee: 5% of each cash advance; $10 minimum
  • Penalty APR: Up to 29.99% (Variable)
  • Annual Fee: $0
  • Foreign Transaction Fee: 3%
  • Late Payment Penalty Fee: Up to $41
  • Return Payment Penalty Fee: Up to $41
  • You want to earn 5% back but do't want quarterly categories
  • You plan on spending $1,500 within the first 90 days
  • You have a large purchase in mind that you want to pay down over time
  • You plan on transferring an existing balance within the first four months
  • You don’t want to pay an annual fee
Citi Custom Cash℠ Card

Citi Custom Cash℠ Card

Terms & Conditions
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The Citi Custom Cash℠ Card is a cash back credit card that can earn you up to 5% back on eligible purchases, while also offering a lengthy 0% intro APR for no annual fee. The card differs from other 5% cash back cards in that cardmembers earn 5% back on their top eligible spending category (up to $500 spent each billing cycle), with the following being the eligible categories:

Dining Fitness clubs Grocery stores
Drugstores Gas stations Home improvement stores
Travel & transit (select) Live entertainment Streaming service (select)

All other purchases with the card earn an unlimited 1% cash back, with no caps on those rewards. In addition to the up-to 5% cash back on purchases, new accounts also enjoy a cash back welcome bonus (subject to spending minimums), and two lengthy 0% intro APR periods on purchases and balance transfers.

Eligible new accounts can take advantage of an introductory 0% APR on purchases and balance transfers for 15 months. This makes the card a direct competitor to some leading balance transfer credit cards, which may offer a great intro rate and not much else. That’s not the case with the Custom Cash, which prioritizes your credit needs – whatever they may be.

Discover it® Cash Back

Discover it® Cash Back
Visit Card Site Terms & Conditions
Excellent-Good
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
Discover Processing Network
None Annual Fee

Discover it® Cash Back

  • 17.24% to 28.24% variable based on creditworthiness and Prime Rate Regular Purchase APR
  • 17.24% to 28.24% variable based on creditworthiness and Prime Rate Balance Transfer APR
  • 29.99% variable based on the Prime Rate Cash Advance APR
  • 0% for 18 months from account opening Intro Purchase APR

At a Glance

The Discover It Cash Back Card is a cash back credit card that offers enhanced earning potential in a selection of rotating categories. Cardholders earn 5% back on purchases in categories that rotate each quarter, and 1% on all other purchases. The card also features 0% intro APR for the first 15 months on purchases and balance transfers, Discover’s 100% U.S.-based customer service, Discover’s bonus cash back match, and no annual fee or foreign transaction fees.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • 5% cash back in rotating categories each quarter, up to the quarterly maximum, when you activate
  • Earn 1% cash back on all other purchases automatically
  • Discover matches all of the cash back earned by the cardholder at the end of the first year automatically; there is no limit to how much cash back is matched
  • Cash back rewards never expire, earn unlimited cash back
  • Use rewards at Amazon checkout
  • No annual fee
  • Intro Purchase APR: 0% for 18 months from account opening
  • Regular Purchase APR: 17.24% to 28.24% variable based on creditworthiness and Prime Rate
  • Intro Balance Transfer APR: 0% for 18 months from date of first transfer
  • Balance Transfer APR: 17.24% to 28.24% variable based on creditworthiness and Prime Rate
  • Balance Transfer Transaction Fee: 3% of the amount of each transfer posted at the promotional rate. After that, 5% of the amount of each transfer
  • Cash Advance APR: 29.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: $10 or 5% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: None the first time you pay late. After that, up to $41
  • Return Payment Penalty Fee: Up to $41
  • You want to earn 5% back on select category purchases each quarter, including restaurants, gas stations, select rideshares, and online shopping
  • You don’t want to pay an annual fee or foreign transaction fees
  • You want 100% U.S.-based customer service
  • You don’t mind rotating categories changing every three months
Discover it® Cash Back

Discover it® Cash Back

Terms & Conditions
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The Discover it® Cash Back is a perennial favorite for the holiday season thanks to its excellent 5% cash back calendar. The Discover it card earns 5% cash back on the first $2,500 in quarterly spending in select categories, then 1% on all purchases after that. Those 5% bonus categories are lucrative, with the 2023 calendar looking as follows:

Date 5% Cash Back Category
Q1 January – March 2023 Grocery stores, drug stores, and select streaming services
Q2 April – June 2023 Restaurants and wholesale clubs
Q3 July – September 2023 Gas stations and digital wallets
Q4 October – December 2023 Amazon.com and Target

Amazon and Target are a regular feature of Q4 for Discover, making it one of the best cards for Black Friday shopping. Amazon sells practically anything you can imagine, including groceries via Amazon Fresh or Whole Foods. In previous years the Q4 5% categories included Walmart, which is missing in 2023. For this reason, Discover misses out on our top spot, with the Custom Cash card from Citi holding the edge.

Capital One® Walmart Rewards™ Card

Capital One® Walmart Rewards™ Card
Visit Card Site Terms & Conditions
Excellent-Good
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
Mastercard Processing Network
None Annual Fee

Capital One® Walmart Rewards™ Card

  • 17.99% or 29.74% variable based on creditworthiness and the Prime Rate Regular Purchase APR
  • 17.99% or 29.74% variable based on creditworthiness and the Prime Rate Balance Transfer APR
  • 29.74% variable based on the Prime Rate Cash Advance APR

At a Glance

Capital One has partnered with one of the world’s top retailers to bring shoppers the Capital One® Walmart Rewards™ Card. Boasting up to 5% back on Walmart purchases (including those from the online site, the Walmart app, Walmart delivery services, and Walmart gas stations) shoppers can enjoy additional savings on already low prices and redeem their earnings towards future purchases, statement credits, gift cards, or travel.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Unlimited 5% back at Walmart.com including Grocery Pickup and Delivery
  • Unlimited 2% back at Walmart stores and at Walmart and Murphy USA Fuel Stations
  • Unlimited 2% back at restaurants and on travel
  • Unlimited 1% back everywhere else Mastercard® is accepted
  • Points never expire
  • No annual fee
  • No foreign transaction fee
  • Regular Purchase APR: 17.99% or 29.74% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR: 17.99% or 29.74% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: 3% of each transfer at the promotional APR. None for balances transferred at the regular transfer APR
  • Cash Advance APR: 29.74% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: Up to $39
  • You primarily shop at Walmart for your groceries or household items
  • You shop frequently, but not enough to warrant a wholesale club membership
  • You want rewards for travel and dining
  • You have a good or excellent credit score
  • You prefer a Walmart credit card to a store card or a Walmart MoneyCard debit card
  • You want a card with no annual fee
Capital One® Walmart Rewards™ Card

Capital One® Walmart Rewards™ Card

Terms & Conditions
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If Walmart is your Black Friday store of choice, the Capital One Walmart Rewards® Card is likely your best option for the “Best Black Friday Credit Card.”

The card earns 5% back for online Walmart purchases (including Grocery Pickup and Delivery) and 2% for in-store purchases. However, that 2% rate is bumped up to 5% back in-store for the first 12 months when using Walmart Pay. This 5% back online and in-store makes the Walmart Rewards Card an excellent option for Black Friday.

Other ways to earn cash back with the card include 2% back at Walmart and Murphy USA fuel stations, 2% back on dining and travel purchases, and 1% back on everything else. As the cherry on top, the card charges no annual fee.

Simon® American Express® Credit Card

Simon® American Express® Credit Card
Visit Card Site Terms & Conditions
Excellent-Good
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
American Express Processing Network
None Annual Fee

Simon® American Express® Credit Card

  • 21.24% to 31.24% variable based on creditworthiness and the Prime Rate Regular Purchase APR

At a Glance

The Simon® American Express® Credit Card is a unique retail credit card that lets you maximize your rewards at the mall and anywhere else Amex is accepted. The card, from digital-first fintech Cardless, earns up to 5% cash back on all Simon Mall purchases – all for no annual fee.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • No annual fee
  • No foreign transaction fees
  • Earn 5% at any Simon Mall, Mills, or Premium Outlet in the U.S.
  • Earn 1% on all your other card purchases
  • Regular Purchase APR: 21.24% to 31.24% variable based on creditworthiness and the Prime Rate
  • You love to shop – either in-person or online – for a wide variety of products
  • You're brand-loyal to the type of stores you find in the mall
  • You prefer card rewards in the form of statement credits
  • You do't want to pay an annual fee
Simon® American Express® Credit Card

Simon® American Express® Credit Card

Terms & Conditions
Visit Card Site Terms & Conditions

The Simon® American Express® is an intriguing retail rewards credit card from Cardless and Simon Malls. This card is unique because it provides exceptional savings at the mall – any operated by Simon Malls, specifically. And with over 200 malls across the U.S., there’s likely a location near you.

Cardholders earn their best cash back rewards by shopping at Simon properties, with shopping at ANY Simon merchant earning 5% cash back. This broad bonus category includes hundreds (maybe thousands) of names nationwide, including the following brands:

Aeropostale Brooks Brothers Eddie Bauer Forever 21
Reebok JCPenney Nautica Lucky Brand

Even better, cardholders earn 10% cash back on gift cards from more than 30 different brands. It’s worth noting, though, that the 10% back only applies to gift card purchases made through the Cardless app. Still, it’s a great way to stuff stockings or save a little more when shopping for gifts this holiday season. All other purchases with the card earn 1% cash back, with rewards redeemable for statement credits.

Browse more of the “Best of” from BestCards

Featured image by Amanda Kirsh/Burst

How to Kick-Off Your Holiday Shopping With A Credit Card

by Jeannyn Gomez
How to Kick-Off Your Holiday Shopping With A Credit Card

Last updated on March 18th, 2024

‘Tis the season to do some holiday shopping. But don’t let the rush of the holidays make your bank go broke. Use a credit card to your advantage and budget your spending. There are several ways a credit card can help make holiday shopping a little less stressful. Here are the top three things you should be shopping for with your credit card this holiday season.

Kick-Off Your Holiday Shopping With A Credit Card

Travel. Eat. Shop. Use a credit card for these three subjects for your holiday shopping and earn extra savings.

Holiday Shopping For Travel

Travel may not be the obvious choice, but making your travel purchases with a credit card can have a positive effect on your budget. Whether you’ve been racking up your travel miles to pay for a trip or trying to earn miles for travel plans you already have, using a travel credit card can save you some bucks in the long run.

If you are a frequent flyer and already have plans to air travel for the holidays, use a travel credit card with travel credits that will benefit you. Consider a card like the Capital One Venture X Rewards Credit Card. The travel credits and benefits on the Venture X card are worthy of the $395 annual fee. For starters, it receives annual travel credit of $300 on bookings through Capital One Travel. Cardholders also receive a $100 credit on Global Entry or TSA PreCheck® for a smoother security check experience. Cardmembers also get 10,0000 bonus miles annually (equal to $100 towards travel) and lounge access.

The Perks of Using A Credit Card For Travel:

  • Use travel credits to cover your travel costs
  • Earn miles for future travel purchases
  • Safely make purchases while traveling with credit card safety features
  • Lounge access for a comfortable travel experience

Related Article: The Best Credit Cards for Holiday Travel (and Making It Less Miserable)

Holiday Shopping For Groceries

Nothing else brings a family together for the holidays like food. With all the holiday celebrations, feasts are in order, and some of the best ways to save on groceries are with a credit card. Use a cash back credit card to take on that lengthy holiday grocery list. Earn back rewards while you fill your shopping cart with all your holiday food essentials, from turkey or pork to corn, pies, potatoes, and more.  

While multiple credit cards earn cash back for groceries, a couple comes to mind and stands out. Take, for example, the Amazon Prime Rewards Visa Signature Card, a popular credit card among Amazon.com shoppers and Prime members. The card earns up to 5% cash back on Amazon.com orders, restaurants, gas, and more. However, the card also earns 5% cash back on Whole Foods Market orders. If you already shop for groceries at Whole Foods, then the Amazon Prime Rewards Visa Signature Card can earn you some cash back.

Another card that comes to mind for holiday grocery savings is the Capital One® Walmart Rewards™ Card. If Walmart is your place of choice for groceries, then the Capital One® Walmart Rewards™ Card can earn you major cash back. It earns up to 5% cash back at Walmart.com, including grocery pick-up and delivery. In addition to 5% cash back on grocery pick up and delivery, the card also earns 2% cash back on gas, restaurants, travel, and Walmart stores, plus 1% back, on all other purchases. The Citi Custom Cash℠ Card also earns 5% cash back at grocery stores if that is your chosen reward category.

Other cards worth mentioning – if you prefer grocery shopping at wholesale clubs are the Costco Anywhere Visa® Card by Citi or the Sam’s Club® Mastercard®. The Costco Anywhere Visa® Card by Citi earns 2% cash back on all Costco purchases, and the Sam’s Club® Mastercard® earns 3% cash back from Sam’s Club purchases for Plus members. Club members earn 1% cash back.

The Perks of Using A Credit Card For Groceries:

  • Earn cash back when you do groceries
  • Option available for online grocery shopping
  • Use earned rewards for other non-grocery-related purchases

Related Article: The Ultimate Guide to Credit Cards for Groceries & Delivery Services

Holiday Gift Shopping With Credit Cards

Now, you may not engage in gift giving, but it wouldn’t hurt to get yourself a little something during the holiday season shopping sprees, especially with all the holiday sales that can save you some cash. You can shop holiday deals online when you log into your BestCards membership. Peruse hundreds of coupon deals and offers from some of your favorite merchants.

Wherever you decide to do your holiday gift shopping, don’t forget to use your best card to earn cash back savings. There are so many great options out there for holiday shopping. For example, the Citi® Double Cash Card earns 2% cash back on every purchase. Or the Bank of America® Customized Cash Rewards Credit Card, which earns 3% cash back on online shopping if you elect it as your rewards category. Compare credit cards on our site to see which credit cards are best for your holiday shopping. Explore travel credit cards, cash back credit cards, and more. Use the compare tool on our site to help you get a better look at your credit card options.

Related Article: The Best Cash Back Credit Cards of 2022

Featured image by vichie81/ Getty Images

Get a PRIOR Subscription for Free with Venture X

by Cory Santos
get-a-prior-subscription-for-free-with-venture-x

Capital One Venture X cardholders can now book a series of exclusive, once-in-a-lifetime trips across the United States thanks to a partnership with PRIOR. Capital One’s new partnership with PRIOR provides Venture X cardholders with complimentary PRIOR Subscription (valued at $149), for no extra cost.

Capital One Providing Complimentary PRIOR Subscription for Venture X

Capital One and PRIOR have announced a new partnership. Effective November 15, 2022, Capital One Venture X cardholders will be able to book luxury experiences to destinations such as Savannah, Georgia; Sun Valley, Idaho; and wine country in Napa and Sonoma through Capital One’s new partnership with PRIOR, a luxury travel company made up of a team of tastemakers and experts that specializes in imaginative and unique travel itineraries, one-off experiences and original editorial content.

PRIOR Subscription Details

Venture X cardholders have received a complimentary PRIOR Subscription (valued at $149), which includes access to global travel guides, early bookings, and a twice-weekly newsletter. Members also have the option of booking luxury experiences.

These cardholder-exclusive trips provide Venture X cardholders the chance to visit unforgettable destinations. Here are the first three trips available to Venture X members, with additional 2024 trips expected to be added soon:

  • Savannah Trip Highlights: March 23 – 26, 2023
    • This trip includes a stay at Perry Lane Hotel (a Capital One Premier Collection hotel), as well as a decadent black-tie dinner and jazz performance at a historical Savannah mansion, cocktails, and dinner on a private terrace overlooking Savannah’s historic district at the iconic The Olde Pink House, followed by a nightcap at the haunted Cellar Bar. Also included are experiences like an underground walking experience of Savannah’s African American history with a Gullah Geechee Master Storyteller, followed by a private performance and a traditional Low Country boil.
  • Sun Valley Trip Highlights: June 29 – July 2, 2023
    • The trip to Sun Valley begins with a stay at the historic Sun Valley Lodge and a private dinner (via a gondola up Mount Baldy) at the Roundhouse followed by star gazing on the terrace. Guests will also be able to take a wildflower walk to the top of Dollar Mountain to a local trout cookout, take part in a catch-and-release fly fishing experience led by local experts, and enjoy a private pontoon boat ride or kayak adventure across Redfish Lake to a private beach picnic.
  • Napa and Sonoma Trip Highlights: October 19-22, 2023
    • Guests experiencing the trip to Napa and Sonoma will have accommodations at the Madrona. The trip includes insider access to established and up-and-coming wineries and vintners accompanied by a master sommelier. Additional highlights include a dining experience at Hudson Ranch, with a viewing of a private major art collection. Guests also will be able to take part in a Tamales Bay oyster harvesting and tasting, Chez Panisse chef-prepared lunch in the vines, and a private dinner at award-winning restaurant Single Thread in Sonoma.

About PRIOR

PRIOR is a world of curious travelers who seek cultural immersion and connection through wonder-filled experiences across the globe. Crafted by PRIORS’ team of editors and designers on the ground in destinations worldwide, the company’s singular Experiences, Clubhouses, and Voyages go deep into cultures, traditions, crafts, flavors, and natural environments for conscious and considered encounters, shaping rare and indelible travel moments.

Related Article: Enjoy Free Uber One & 10% Back with Capital One

Featured image by Prior

Free Lyft Pink All Access with Chase Sapphire Reserve

by Cory Santos
chase sapphire reserve adds lyft pink all access benefit free

Last updated on April 5th, 2023

Chase has added a new feature to its ultra-premium Sapphire Reserve credit card. Sapphire Reserve cardmembers can now enjoy complimentary Lyft Pink All Access membership – a $199/year bonus that is sure to bring smiles this holiday season.

Chase Adds Lyft Pink All Access to Sapphire Reserve

Now, Chase Sapphire Reserve cardmembers have the option to receive a complimentary Lyft Pink All Access membership, the most premium membership option from Lyft (valued at $199 per year). Chase Sapphire Reserve cardmembers can get this membership as a complimentary offering for two years, followed by 50% off the third year. Please note that Lyft Pink membership auto-renews annually.

Lyft Benefits for Chase Sapphire Reserve Cardholders

Lyft Pink All Access offers exclusive benefits across the Lyft transportation network of rideshare, cars, bikes, scooters, and more, allowing cardmembers to enjoy an enhanced Lyft experience while maximizing rewards wherever they need to go. For Chase Sapphire Reserve cardmembers, the membership offers a variety of rideshare and other perks, including.

  • Earn 10x total points on Lyft rides through March 2025
  • 2 years of complimentary Lyft Pink All Access, including:
  • Free Priority Pickup upgrades to get picked up faster
  • Member-exclusive pricing, including 10% off all Lux rides
  • Cancellation forgiveness, cancel up to 3 times per month for free
  • In-app roadside assistance for your own car, free up to 4 times a year
  • Free SIXT car rental upgrades
    • Free, unlimited 45-min classic bike rides
    • Free unlimited e-bike and scooter unlocks
    • Discounted e-bike and scooter rates
    • 3 bike or scooter guest passes per year
  • A 50% discount off their 3rd year of membership

Chase Sapphire Reserve cardmembers can activate their free Lyft Pink All-Access membership and continue earning 10X total points on Lyft purchases by having their card on file as the default payment method and simply going to the Lyft Pink tab in the Lyft app and tapping ‘Join.’

Related Article: Earn Up to a 100k Mile Signup Bonus w/ United Credit Cards

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Enjoy Free Uber One & 10% Back with Capital One

by Cory Santos
Enjoy Free Uber One & 10% Back with Capital One

Last updated on April 5th, 2023

Capital One and Uber are teaming up to provide select Capital One cardmembers with special savings when ordering food or catching a ride with Uber. Starting November 15, eligible Savor, SavorOne, and Quicksilver cardholders can earn an unlimited 10% cash back on Uber and Uber Eats, plus complimentary Uber One membership, through November 14, 2024.

Earn Unlimited 10% Back with Uber

Capital One knows that Savor customers are particularly passionate about dining and entertainment, making it possible for them to unlock even more benefits for doing what they love – at home or out on the town. Starting November 15, Capital One Savor and SavorOne cardholders can earn an unlimited 10% cash back on Uber and Uber Eats, plus complimentary Uber One membership, through September 19, 2024. This offer is also available for SavorOne Student and Quicksilver Student cardholders.

How to Add the Uber One Offer

Here’s how to access the complimentary Uber One membership: Eligible Savor and Quicksilver cardholders must set their eligible Capital One credit card as the form of payment for their Uber One membership, and they will receive a monthly statement credit through the end of the promotional period. Cardmembers automatically earn an unlimited 10% cash back on Uber and Uber Eats purchases when using an eligible Savor or Quicksilver card.

Capital One SavorOne, SavorOne Student, and Quicksilver Student are no annual fee cards, meaning cardholders don’t need to worry about an annual fee to take advantage of the new Uber promotion. These new Uber benefits are especially relevant to students, who can unlock them when they need to get around campus or order a snack during a late-night study session or downtime with friends. They help make Capital One student credit cards ideal for students as they build credit with responsible use.

About Uber One Membership

Uber One is a membership service that provides unlimited $0 Delivery Fees on eligible food, groceries, and other Uber Eats orders. Customers must place a $15 minimum order at participating restaurants to receive the $0 Delivery Fee and a $30 minimum at other participating stores for the $0 Delivery Fee. Members also receive up to 10% off eligible orders with Uber Eats and up to 5% off eligible rides with Uber. This discount will not apply to shared rides or rides booked 30 minutes or more in advance.

Related Article: The Best No Annual Fee Credit Cards of 2022

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Earn Up to a 100k Mile Signup Bonus with United Credit Cards

by Cory Santos
Earn Up to a 100k Mile Signup Bonus w/ United Credit Cards

Last updated on April 7th, 2023

Chase and United Airlines are offering first-class welcome bonuses with four popular United MileagePlus family of credit cards from Chase. Eligible successful applicants can earn up to 100,000 bonus MileagePlus miles after meeting minimum spending requirements. Find out more about these limited-time United  credit card signup bonuses here:

United MileagePlus Limited-Time Signup Bonuses

Chase’s United MileagePlus credit cards are offering elevated signup bonuses for a limited time. For a limited time, earn up to 100,000 bonus miles when signing up for a new United card. These offers are a great way to save on upcoming holiday flights as inflation continues to soar, and are available on these four cards:

  • United Gateway SM Card: Earn 30,000 United MileagePlus miles after spending $1,000 on qualifying purchases in the first three months of opening an account.
  • United SM Explorer Card: Earn 60,000 United MileagePlus miles after spending $3,000 on qualifying purchases in the first three months of opening an account.
  • United Quest SM Card: Earn 80,000 United MileagePlus miles after spending $5,000 on qualifying purchases in the first three months of opening an account.
  • United Club SM Infinite Card: Earn 100,000 United MileagePlus miles after spending $5,000 on qualifying purchases in the first three months of opening an account.

These signup bonuses are one of the many ways new United Cardmembers can earn miles through purchases on their card. While each card is unique, benefits may include United Club access, free checked bags, flight credits, discounts, and more.

United Cardmembers also earn rewards everywhere they go and on everyday purchases, helping them pursue their love for travel. Plus, the United family of credit cards from Chase offers no foreign transaction fees, making them the perfect choice for international travel.

Here is how each consumer offering in the United MileagePlus family of credit cards from Chase stacks up with everyday use:

Card Features

United Gateway Card
  • Earn 2 miles for each $1 spent on purchases from United
  • Earn 2 miles for each $1 spent at gas stations
  • Earn 2 miles for each $1 spent on local transit and commuting, including ride share services, taxicabs, train tickets, tolls, and mass transit
  • Earn 1 mile for each $1 spent on all other purchases
  • 25% back on United inflight purchases
  • $0 annual fee

United℠ Explorer Card
  • Earn 2X miles per $1 spent on purchases from United, including tickets, Economy Plus®, inflight food, beverages and Wi-Fi, and other United charges
  • Earn 2X miles per $1 spent on dining, including eligible delivery services
  • Earn 2X miles per $1 spent on hotel accommodations when purchased directly with the hotel
  • Up to $100 statement credit for Global Entry or TSA Precheck®
  • 25% back as a statement credit on purchases of food, beverages and Wi-Fi onboard United®-operated flights
  • Free first checked bag – save up to $140 per roundtrip
  • $95 annual fee ($0 first year)

United Quest℠ Card
  • Earn 3X miles on United purchases
  • Earn 2X miles on all other travel purchases
  • Earn 2X miles on select streaming services and dining
  • Receive up to $125 in statement credits each account anniversary year
  • Global Entry or TSA PreCheck® fee credit
  • Priority boarding
  • $250 annual fee

United Club℠ Infinite Card
  • Earn 4 miles per $1 spent on United® purchases including tickets, Economy Plus, inflight food, beverages and Wi-Fi, and other United charges
  • Earn 2 miles per $1 spent on all other travel
  • Earn 2 miles per $1 spent on dining including eligible delivery services
  • Earn 1 mile per $1 spent on all other purchases
  • Up to $100 Global Entry or TSA PreCheck® fee credit
  • Free first and second checked bags - a savings of up to $320 per roundtrip. Terms Apply
  • $525 annual fee

About United MileagePlus

MileagePlus is a United Airlines loyalty program that offers its members big rewards on United flights and flights with eligible United Partners. United Airlines is a founding member of the Star Alliance. It is also one of the world’s largest airlines, with an ever-expanding list of destinations worldwide.

Related Article: Bilt Rewards Status Match with United

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The Best Credit Cards For Truckers

by Jeannyn Gomez
Best Credit Cards For Truckers

Last updated on May 22nd, 2023

No matter how small your fleet is, there are credit card options for truckers that can provide the right tools for running a trucking business. While there are credit cards made for truckers, regular credit cards can too fit trucker credit card needs. 

Credit Cards For Truck Drivers

We have rounded up a combination of credit cards that can benefit truckers through gas rewards, management software, and more. Here are our picks for the best credit cards for truckers.

Revenued Business Card

Revenued Business Card
Apply Now Terms & Conditions
Poor-No Credit Required
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Poor / No Credit Required
Visa Processing Network
None Annual Fee

Revenued Business Card

  • See Terms* Regular Purchase APR

At a Glance

The Revenued Business Card combines the benefits of a business card with a Flex Line of capital. This combination means there are no hard credit checks to apply, with Flex Lines available in as little as 24 hours, with no hidden fees or annual fees.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • No annual fee and no draw fee
  • Includes flex line, similar to a line of credit and only pay for what you use
  • Access cash on demand with funds deposited straight into your bank account
  • Fast and easy application process – apply online and receive a funding decision in as little as an hour
  • Approvals based on your business revenue and not personal credit
  • As your revenue increases, spending limits also increase
  • Access to business credit tools – Revenued reports to D&B to help build your business credit
  • Access to a dedicated U.S-based account manager to help you make the most of being a Revenued card holder
  • Rated Excellent on Trustpilot with 600+ reviews
  • Regular Purchase APR: See Terms*
  • Foreign Transaction Fee: See Terms
  • You have a business with at least $10,000 or more in monthly deposits
  • You don’t want to use your personal cards for their business
  • You don’t want to pay any annual fees or draw fees
  • You’re looking for a simple solution to access business credit with a fast and easy application process
Revenued Business Card

Revenued Business Card

Terms & Conditions
Apply Now Terms & Conditions

With the Revenued Business Card Visa® your trucking fleet can earn you 3% cash back on every purchase, which is practically unheard of in the business credit card space. In other words, fill up the gas tank and earn rewards for your purchase. It is important to note the Revenued Business Card Visa® is not only a business card. It is also a Flex Line combination which is based on revenue and not your FICO score alone.  

Ramp Card

Ramp Card
Apply Now Terms & Conditions
Excellent-Good-Fair-Poor
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good / Fair / Poor
Visa Processing Network
None Annual Fee

Ramp Card

  • See Terms Regular Purchase APR

At a Glance

The Ramp Card is a corporate charge card that provides businesses far more than just purchasing power and cash back rewards. Companies enjoy access to up to 20X more capital, extended payment terms, and unparalleled software integrations to streamline finances – all for no annual fee.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Earn unlimited 1.5% cash back on every purchase
  • No fees – including foreign transaction, setup, or replacement fees
  • Use to shop at any retailer worldwide that accepts Visa cards
  • Add virtual cards to your Apple Wallet or Google Pay
  • Block or restrict spending to a specific vendor – for either a specific card or your entire company
  • Regular Purchase APR: See Terms
  • You struggle with expense reports, reimbursements, and receipts
  • You want a charge card without interest rates or fees
  • You want a corporate card that offers enforceable employee spending limits
  • You plan to issue multiple employee cards
  • You have at least $75,000 in your primary business bank account
  • You spend at least $10,000 per month on your cards
Ramp Card

Ramp Card

Terms & Conditions
Apply Now Terms & Conditions

While the Ramp Visa Card is another card on our list that is not typically aimed toward truckers, it is a business credit card that can help support a trucking business. It offers tools useful to manage any business, including a trucking fleet. It’s a 5-in-1 tool for businesses that want streamlined financial reporting as it provides an impressive suite of accounting tools and more. In addition, cardmembers earn unlimited 1.5% cash back on every purchase, on things like gas, restaurants, and more.

Discover it® Secured

Discover it® Secured
Visit Card Site Terms & Conditions
Poor-No Credit Required
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Poor / No Credit Required
Discover Processing Network
None Annual Fee

Discover it® Secured

  • 28.24% variable based on the Prime Rate Regular Purchase APR
  • 28.24% variable based on the Prime Rate Balance Transfer APR
  • 29.99% variable based on the Prime Rate Cash Advance APR

At a Glance

The Discover it® Secured card is ideal for cardholders hoping to build or rebuild their credit. Responsible use will not only raise their credit score, but it will also earn them 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases each quarter.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • 2% cash back at restaurants or gas stations on up to $1,000 in combined purchases each quarter. Plus 1% cash back on all other credit card purchases
  • Discover automatically matches all the cash back you’ve earned at the end of your first year
  • Easily view your FICO® Credit Score on monthly statements, mobile and online for free
  • Automatic account reviews begin after 7 months of use to see if cardholders can transition to an unsecured line of credit and have their deposit returned
  • No annual fee
  • Regular Purchase APR: 28.24% variable based on the Prime Rate
  • Intro Balance Transfer APR: 10.99% for 6 months from date of first transfer for transfers that post by November 10, 2023
  • Balance Transfer APR: 28.24% variable based on the Prime Rate
  • Balance Transfer Transaction Fee: 3% of the amount for each transfer that posts at the promotional rate. After that, 5% of the amount of each transfer
  • Cash Advance APR: 29.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: None the first time you pay late. After that, up to $41
  • Return Payment Penalty Fee: Up to $41
  • Minimum Deposit Required: $200
  • You want to build or rebuild your credit with Discover
  • You want 2% cash back at gas stations and restaurants
  • You don’t think you should pay an annual fee to boost your credit score
Discover it® Secured

Discover it® Secured

Terms & Conditions
Visit Card Site Terms & Conditions

The Discover it® Secured has made our list for anyone in the trucking business that may have a subprime credit score. The Discover it® Secured card typically is not aimed toward truckers. However, its credit-building capabilities and cash back rewards might make it the ideal card for truckers building credit. It’s a secured credit card with reward-earning capabilities. It earns 2% cash back at restaurants or gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all other credit card purchases. As we all know, truckers need their gas, so why not earn cash back when you fill up the tank and build credit simultaneously?

Other Options

CT Credit Card By CloudTrucks

ct credit card
No Fee Credit Card
  • Save up to 20¢ per gallon of gas
  • Build Business Credit
☆ $0 Annual Fee
☆ Convenient Financial Management Tools
☆ No Business Credit Required
Learn More

The CT Credit Card by CloudTurcks is built to help owner-operators manage their trucking business. The card features zero fees for you and your team. This includes no account fees, late fees, or fees of any kind. The Visa card can be used anywhere and for more than just fuel, so your truckers can pay for food, lodging, and more with just their CT Credit Card.

On top of no fees, as a card member, you will have access to track and monitor spending across your team. Additionally, you can set spending limits for your fleet, and you get to build business credit all at the same time. Moreover, you’ll get access to exclusive fuel and maintenance discounts, such as up to 20¢ per gallon through Road Ranger and Pilot Flying J, as well as discounts at Love’s and Michelin.

Best For Subprime Credit
  • New cardmembers save up to 15¢ per gallon
  • Accepted at 95% of U.S. gas stations
☆ Detailed Transaction
☆ Set Spending Limits
☆ Automatic Expense Tracking
Learn More

With the Sunoco Fleet Universal Card, you will benefit from complete fuel management. New card members earn rewards at an introductory rate. In the case of the Sunoco Fleet Universal Card, the rate is up to 15¢ per gallon. The rebate is based on the cardholder billing cycle and ends six months after the account issue date. The 15¢ reward is one of the highest reward systems on gas for trucker credit cards. After the six-month promotional period, truckers can get up to 6¢ per gallon. The reward rebates are based on the number of gallons purchased at Sunoco-branded locations each month.

 

Related Article: CloudTrucks Launches Credit Card For Truckers

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TSA PreCheck® Reduces Its Prices

by Jeannyn Gomez
TSA PreCheck® Reduces Its Prices

Last updated on October 26th, 2023

Just in time for holiday travel, TSA has reduced the TSA PreCheck® enrollment fee, including the in-person renewal fee. TSA PreCheck® provides a service for passengers to enjoy a more efficient travel experience, starting with airport security checks.

TSA Reduces TSA PreCheck® Enrollment Fee

According to TSA, in October 2022, 91% of TSA PreCheck® passengers waited less than five minutes in airport security lines. If you have ever gone through an airport security line, you may find a five-minute wait impressive and brag-worthy. TSA PreCheck® helps passengers through a more seamless airport screening and is available nationwide.

With the holidays creeping nearer, a drop in TSA PreCheck® prices is good news for frequent travelers. The cost for TSA PreCheck® has been reduced from $85 to $78. The price reduction is for the enrollment fee and the in-person renewal fee. However, the online renewal fee remains unchanged and is still $70.

“For individuals and families with plans to fly this holiday season, now is the time to enroll or renew in TSA PreCheck,” said TSA Administrator David Pekoske. “TSA PreCheck offers significant benefits to those who meet its enrollment standards – less physical contact, fewer items on the conveyor belt and faster screening.” – Press Release.

The Perks of TSA PreCheck®

With TSA PreCheck®, passenger and their children under 12 can wait less time in airport security lines for a smoother travel experience. TSA PreCheck® is available in more than 200 airports and with over 85 airlines. The 5-minute wait time is not the only perk that comes with TSA PreCheck® for more efficient screening. In addition, with TSA PreCheck®, you don’t need to remove the following items:

  • Shoes
  • Laptops
  • 3-1-1 Liquids
  • Belts
  • Light jackets

Don’t forget that purchasing a TSA PreCheck® membership directly through TSA is not the only way you can access such travel benefits. Many travel credit cards feature TSA PreCheck® as part of their long list of benefits. For example, there’s the AAdvantage® Executive World Elite Mastercard® from Citibank, the United Club Infinite Card, or the Capital One Venture X Rewards Credit Card.

AAdvantage® Executive World Elite Mastercard® 224x141

AAdvantage® Executive World Elite Mastercard®

Receive a statement credit of up to $100 as reimbursement for Global Entry or TSA PreCheck®

capital one venture rewards 224x141

Capital One Venture X Rewards Credit Card

Receive up to a $100 credit for Global Entry or TSA PreCheck®

united club infinite

United Club Infinite Card

Up to $100 Global Entry, TSA PreCheck® or NEXUS fee credit

Related Article: The Best Credit Cards With Airport Lounge Access

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JPMorgan Launching Property Management Portal

by Cory Santos
JPMorgan Launching Property Management Portal

Chase is looking to corner the property management sector by introducing a new platform. The Story platform is for property owners and managers, automating invoicing and receipt of online rent payments.

JP Morgan Launching New Property Management Portal

A new report from CNBC states that JPMorgan Chase is piloting Story, a property management and payment platform it created to automate the invoicing and receipt of online rent payments. Story’s software is meant to ultimately become an all-in-one property management solution. It has been in development for the last two years.

According to Sam Yen, chief innovation officer of JPMorgan’s commercial banking division. “the vast majority of rent payments are still done through checks. If you talk to residents to this day, they often say, ‘The only reason I have a checkbook still is to pay my rent.’”

The bank hopes to gain traction by offering users valuable insights through data and analytics, including how to set rent levels, where to make future investments, and even screening tenants

Bilt Mastercard Takes a Fresh Look at Rent

Chase isn’t the only bank looking at how Americans pay rent. The Bilt Mastercard from Wells Fargo provides reward points on rent payments with no annual fee. The Bilt Card is the first-of-its-kind credit card in that it earns 1% cash back on rent payments, even if your property isn’t maintained by Bilt.

The card also earns impressive rewards in two everyday categories. These categories are:

  • Earn 2X points on travel
  • Earn 3X points on dining
  • Earn 1X points on all other purchases

The Bilt Mastercard also rewards cardholders through Bilt Rewards. Bilt Rewards offers four tiers, with cardholders reaching higher tiers through more Bilt Rewards points.

These elite tiers give users bonus points on points from new leases and renewals and interest earned on points. For example, the Bilt Rewards Platinum tier earns a bonus of 50% more points on new leases, plus a gift of a complimentary Bilt Collection (the rewards portal redemption center).

Related Article: Bilt Rewards Status Match with United

Featured image by Chase

Fed Raises Prime Rate Yet Again

by Cory Santos
Fed Raises Prime Rate Yet Again

Last updated on February 20th, 2024

The Federal Reserve has raised the Prime Rate to its highest rate since January 2009. The Fed’s FOMC raised the federal borrowing rate by 0.75% to 7%, the tied-largest move in a single meeting since 1994.

Federal Reserve FOMC Raises Prime Rate to 7% in November 2022

The US Federal Reserve has made history yet again after raising interest rates by 75 points. The latest increase is the sixth of the year – and the fourth consecutive 75-point increase. This increase raises the Fed’s benchmark lending rate to a new target range of 3.75% to 4% – the highest rate since the start of 2009.

As a result of the latest meeting of the Federal Reserve’s Federal Open Market Committee (FOMC) agreed to raise rates for the sixth time this year – after years of record-low borrowing costs due to the global coronavirus pandemic. The new Prime Rate – The interest rate that commercial banks charge their most creditworthy corporate customers – is 7%.

In its statement accompanying the news, the FOMC said it will “take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.”

“Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures,” the statement added.

What Can Consumers Do to Help Save Money?

The Prime Rate increase will have many borrowers worried. Higher interest rates make it more expensive to carry a balance on credit cards, mortgages, auto loans, and other loans. Consumers with revolving loans, such as credit cards, should plan for APR increases in the coming weeks.

One way to tackle higher credit card APR is through a balance transfer credit card with 0% intro APR. Balance transfer cards are a great way to avoid the origination costs of personal loans. They may offer additional bonuses, like cash back, points, or 0% intro APR for up to 18 months on purchases.

Related Article: What Is the Average Credit Card APR?

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BestCards is an independent, Florida-based credit card comparison platform. Many of the card offers that appear on this site are from companies from which BestCards receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). BestCards does not include all card companies or all card offers available in the marketplace.