The Best Credit Cards of 2016: Top Picks for Travel and Rewards
Explore the top credit cards of 2016, featuring travel rewards, cashback, and credit-building options. Find out which card suits your financial lifestyle with detailed features, bonuses, and benefits tailored for travelers, reward seekers, and credit builders alike.
Top Credit Card Choices of 2016 for Travelers and Reward Enthusiasts
Choosing the right credit card can significantly enhance your financial flexibility, especially if you travel frequently or aim to maximize rewards. In 2016, several credit cards stood out due to their attractive features, generous rewards, and favorable introductory offers. Whether you're looking for travel incentives, cashback benefits, or a tool to build your credit, understanding the features of these top cards can help you make an informed decision. Before applying, ensure your credit profile is strong enough to qualify for these premium options.
Bank of America Travel Rewards Credit Card – Travel Perks and Incentives
This card is an excellent choice for travelers seeking to earn rewards with minimal fees. It features an initial introductory 0% APR on purchases for the first year, making it a cost-effective option for those making large transactions early on. There is no annual fee, allowing you to save money long-term. After the intro period, the variable APR ranges between 15.49% and 23.49%, depending on your creditworthiness. Cardholders earn 1.5 points per dollar spent on every purchase, which can quickly accumulate. Additionally, if you spend $1,000 within the first 90 days, you'll receive a bonus of 20,000 points—equivalent to $200 in travel savings, providing a substantial incentive for new users.
Capital One VentureOne Rewards Card – Flexible Travel Rewards
For those who value no annual fee combined with generous travel rewards, the Capital One VentureOne card is a popular choice. It offers an introductory low APR for the first 12 months, making it easier to finance big purchases. The ongoing APR ranges from 12.49% to 22.49%. Cardholders can earn 20,000 bonus points after spending $1,000 within the first three months, which can be redeemed for $200 in travel expenses. The card earns 1.25 miles per dollar spent, and it has the added benefit of no foreign transaction fees, ideal for international travelers. Miles accumulated do not expire, giving you the flexibility to redeem your rewards at any time without concern for expiration.
Chase Sapphire Preferred Card – Top Choice for Flexible Travel Redemptions
Recognized by Kiplinger’s as one of the best travel credit cards offering flexible redemption options, the Chase Sapphire Preferred attracts frequent travelers. New cardholders can earn 50,000 bonus points after spending $4,000 within three months, which can be redeemed for approximately $625 worth of travel when redeemed through Chase Ultimate Rewards. There's no annual fee for the first year, after which the fee is $95. This card rewards double points on travel expenses and one point per dollar on other purchases. It has no foreign transaction fees, and rewards benefits never expire. Additionally, points can be transferred on a 1:1 basis to numerous airline and hotel loyalty programs, providing maximum versatility and value when booking flights and accommodations worldwide.
Discover It Cashback Match – Leading Cashback Rewards System
For cashback enthusiasts, the Discover It Cashback Match offers an outstanding year-one promotion. With no annual fee, it features a 0% introductory APR on both purchases and balance transfers for 14 months, allowing you to finance big expenses without interest for over a year. After the promotional period, the APR ranges from 11.49% to 22.49%. The card offers 5% cashback on rotating quarterly categories, which can include categories such as groceries, gas stations, or online shopping, and 1% on all other purchases. What's more, Discover doubles your cashback earned in the first year, significantly increasing your rewards early on. This makes it an optimal choice for those who want to maximize cashback without paying fees.
Discover It Secured Card – Building Credit with Rewards
Ideal for individuals with limited or poor credit histories, the Discover It Secured Card offers an entry point to credit building while earning rewards. It has no annual fee and provides 1% cashback on all purchases. The card features a low balance transfer rate of 10.99% for the first six months, which helps manage existing debt efficiently. The ongoing APR is 23.49%. At the end of each year, your cashback is doubled, helping you build credit and earn rewards simultaneously. To maximize benefits, keep an eye on the ongoing fees and interest rates, and use the card responsibly to improve your credit score over time.
