What your credit score is
The very best credit cards require good credit or better, which means a 700+ credit score. There are credit cards for people of all credit levels, though, including people with bad credit or no credit. Knowing where you stand will help you identify the right cards to consider, and you can check your latest credit score for free on WalletHub.
How you plan to use the credit card
If you plan to pay your bill in full every month, focus on comparing the cards’ rewards and annual fees. If you want to avoid interest, concentrate on credit cards offering 0% introductory APRs on purchases or balance transfers, depending on whether or not you already owe the money. And if you’re just trying to build or rebuild your credit, aim for low fees and high approval odds.
How long you expect to keep the account open
Ongoing features such as annual fees and regular rewards rates become more and more important the longer you plan to have the card. On the other hand, there are times when it will make more sense to capitalize on short-term deals like initial rewards bonuses and low intro APRs. When it comes to initial bonuses, you’ll also want to make sure you’re in a position to spend enough to trigger the bonus in the allotted time frame without overburdening yourself.
How soon you’ll need your credit score for a big-money transaction
Applying for a new credit card account usually results in a hard inquiry into your credit history, which can cause your credit score to drop a bit temporarily. This shouldn’t be a problem unless you plan to apply for a mortgage or an auto loan in the near future, however. You can estimate how long it will take your score to recover using WalletHub’s Free Credit Score Simulator.
How to Compare Credit Card Offers
Once you know what you’re looking for, comparing credit card offers is easy. You’re already in the right place, and we’ve got all the tools you need to make the best selection. Just follow the steps below.
- Use the first filter on this page to choose between personal, business and student cards.
- Use the second filter to remove offers you can’t qualify for based on your credit score.
- Use the third filter to select features you want, such as rewards, an intro 0% APR on purchases, 0% on balance transfers, a low regular APR, or no annual fee.
- Use the fourth filter to refine your options based on the card network, issuer, foreign transaction fee, balance transfer fee, security deposit, and more.
- Set your filters and review the remaining cards.
- Click the “Compare” box at the bottom right of an offer to add it to your list of cards to compare.
- Click the blue “Compare” button at the bottom of the screen. You’ll see the offers you’ve flagged side by side, for a convenient comparison of their key terms.
- Read reviews for the cards you’re considering, to learn from other people’s experiences.
If you’re still not quite sure what types of cards to target, WalletHub’s guide to choosing a credit card should help. You can also sign up for a free WalletHub account to get personalized credit card recommendations.
Mistakes to Avoid When Comparing Credit Card Offers
Comparing Card Terms That Won’t Ever Affect You
Focus on the features that will affect you the most. These are likely to include rewards, annual fees and approval requirements. Interest rates might be worth considering, too, depending on how you plan on using your card. If you plan on paying your bill in full each month by the due date, the interest rate won’t matter. Spending time and energy finding a card with a low APR is therefore fruitless in that situation, and it might even cost you in areas you care about.
Similarly, things like cash advance fees and balance transfer fees shouldn’t matter if you never plan to use your card for either type of transaction. The same can be said of features like airport lounge access, too.
Applying for a Credit Card Before Comparing It to the Alternatives
You can’t really tell how good a credit card offer is without comparing it to what else is out there. A $100 bonus might sound pretty good, for example, but it’s not so hot when you consider that bonuses worth 2-5+ times as much are available. Similarly, 0% for 12 months is nothing to scoff at, unless you can get 0% for 21 months, for example.
WalletHub makes it easy to put offers into context, as we track more than 1,500 credit card offers and provide tools to help you compare cards efficiently.
Assuming Credit Cards With Annual Fees Are Not as Good
Cheaper is not always better when it comes to credit cards. Sure, when in doubt or all else being equal, a lower annual fee is the way to go. However, paying a fee can get you access to some of the best rewards offers on the market, and it’s worthwhile if you’re a big spender. The best approach is to compare credit card offers with and without fees to see which will save you the most money at the end of the day.
Trusting Best Card Lists Blindly
Certain other websites have biased best lists. They consider a very limited universe of credit card offers in order to ensure the cards they call the best come from advertising partners. In other words, these lists are better for the sites than their users.
WalletHub is different, fortunately. We consider more than 1,500 credit card offers when we select the best cards, and our picks are made based on what will save cardholders the most money. You can check out our rating system to see for yourself.
When you’re shopping for a credit card, you can use our transparent best picks as a starting point for offers to compare. This will help you narrow down your options to only an elite few, and then you can pinpoint the right one to apply for.
Learn more about mistakes to avoid when comparing credit card offers.
