Below is a list of our top picks from each category and the best cards overall for this month.
What do we look for when compiling our list of best credit cards?
1. Generous rewards programs without hidden rewards caps, fees, or other fine print.
2. Attractive sign up incentives such as bonus cash back or points that are easy to redeem.
Discover it allows you to earn 5% cash back in popular spending categories (like gas, groceries, entertainment) that rotate throughout the year. In addition you can earn up to 1% cash back on all other purchases that you make with this card.
We also love this card because of the online shopping perks. Discover it allows you to redeem the cash back you earn directly on Amazon.com or iTunes to pay for purchases. There is no waiting period to redeem your rewards, you choose what you want to buy and select the “pay with cashback” option during checkout.
If you shop through Discover’s ShopDiscover online mall you can earn up to an additional 20% cash back on purchases (on top of the 1 – 5% cash back you normally earn). This is really useful when you are making big purchases. If you are planning on buying a new Macbook for example, by purchasing with Apple through ShopDiscover you would earn an additional 5% cash back which could save you between $50 and $150!
However, Discover it takes the top spot on our list because of it’s transparency and lack of fine print. This is why Discover it is truly revolutionary. Unlike many rewards cards, there is no annual fee with this card. You also won’t be charged a fee the first time you pay late, and your interest rate won’t be increased.
With this card you earn 2x miles on all purchases and in addition you also earn 10% of your miles back when you redeem for travel. The generous structure of the rewards program gives the Arrival card a significant advantage over any other travel rewards card currently on the market.
With the 2x miles version of this card you can also earn 40,000 bonus miles after making $3,000 in purchases during your first 90 days – this is equivalent to receiving $400 in free travel!
You then also receive 1x miles on all other purchases you make with the card, as there are no caps or foreign transaction fees. With this card you also receive 10% of your miles back if you choose to redeem them for travel.
The no annual fee version of the Arrival card is offering a 20,000 mile sign up bonus (equivalent to $200 in travel rewards) if you make $1,000 in purchases within the first 90 days of cardmembership.
What’s amazing about this card is it gives college students access to the same rewards program and perks traditionally reserved for people with excellent credit.
This means that you can earn up to 5% cash back on purchases in popular spending categories that rotate throughout the year, and 1% cash back on all other purchases you make.
As with the standard Discover it Card, what really sets this card apart from is the lack of hidden fees and fine print. Discover it for Students has no annual fee, no over-the-limit fee, no fee the first time you pay late and your APR won’t in increased in that situation either.
You also receive 1% cash back on all other purchases and also get a 25% annual bonus on your previous years cash back (with a limit of $250).
With this annual bonus you can really earn closer to 4% cash back on gas which is almost unheard with gas rewards programs.
Also – as long as you make one purchase a year there is no annual fee with this card.