It seems everyone is looking for the elusive best credit card.
You know, the credit card that will check off all your “must have” boxes.
Whether you’re looking for:
- high earn rates,
- envy-worthy travel perks,
- insurance that will act like bubble wrap for your purchases and travel,
- major cash back,
- low fees,
- low interest,
- easy approval, or
- wide acceptance
…the possibilities are a little dizzying.
One thing is true, however – credit cards are not one-size-fits-all – and the perfect credit card for me might not be the perfect credit card for you.
Get the BEST credit card, tailored just for you
So, how do you find the perfect card for your wallet?
The best credit card for you can depend on a number of different things:
- personal preferences,
- spending habits,
- credit score,
- financial goals,
- travel plans,
- and more.
With these things in mind, you can start narrowing down the options.
It also helps to know what credit card features are available and if you’re most interest in:
- the best rewards credit card,
- the best credit card for rebuilding credit, or
- the best credit card for perks and insurance.
Already know what type of credit card you’re looking for?
Jump straight to our Rate Your Wallet quiz and start working on your creditcardGenius.ca virtual wallet.
Find the best rewards credit card
First things first: rewards.
Credit card rewards come in a few different shapes and sizes, and so do the rewards they offer. You could earn:
And choosing the right kind of rewards is key to getting the most out of your rewards credit card.
Travel+ points credit cards
If you travel a lot or dream of visiting new places, a travel points credit card will allow you to earn points or miles on each dollar you spend. Loyalty is key with a Travel+ rewards card since the redeemability of the rewards you earn are usually limited to specific airlines or stores.
For example, the
These cards are great for Loyalty Program lovers.
Cash back credit cards
If you’re looking to save money on some of your everyday spending, a cash back card could be ideal.
With cash back cards, you don’t have to worry about complicated point value calculations or redemption options. You get simple, straightforward cash back. It’s the most direct approach to rewards.
You’ll earn anywhere between 1% to 6% cash back on each dollar spent (depending on the card you choose), often earning the most cash back on specific spending categories like groceries or gas.
Flexible credit cards
Flexible rewards are a combination of the 2 above categories. They’ll give you rewards that can be used for a multitude of different things, like:
- gift cards and merchandise,
- statement credits, and
- much more.
If you’re a bit indecisive or want the best of both worlds, a flexible rewards card might be the perfect fit for your wallet.
Find the best credit card to rebuild credit
Struggling with credit card debt can be a real challenge, and trying to salvage your credit score along the way can be even more challenging. Lower interest rate credit cards are here to save the day.
Secured credit cards
If you find yourself getting declined over and over again due to a poor credit score, a secured credit card could be the answer to your problems.
Your chances of getting approved for a secured credit card are much higher.
Why? Because secured credit cards require a security deposit which the bank can hold as collateral against your credit limit.
The best part about secured credit cards is they will work with you in improving your credit score. They will often give you free access to your credit score as well as access to proper credit education.
All you need to do is make your payments on time, and you’ll be able to see your credit score crescendo in no time.
Credit cards with low interest rates
Low interest rate credit cards could be a great option for you if:
- you’re looking to make a big purchase on your credit card, but don’t want to be stuck paying interest on it, or
- you’ve found yourself struggling to get your credit card balance down and interest is gobbling up whatever payment you make on your card.
These cards will give you a lower interest rate (usually dependent of your credit score and the prime rate) so instead of paying 20% or more on your credit card balance, you’ll be able to take advantage of something much lower.
No annual fee credit cards
If you’re new to the credit card game, or you don’t quite spend enough to justify an annual fee, a no annual fee credit cards are a great option – the benefit of a credit card, with none of the costly payout.
Although they might not have as many perks as the more expensive premium credit cards, it’s nice to know that all the rewards you earn will stay right where you want them: in your pocket.
Related: Pocket The Most Rewards Possible – Credit Cards With No Annual Fee
Find the best credit card for perks and insurance
Premium credit cards
For what premium credit cards might lack when it comes to low annual fees, they definitely make up for in valuable, envy-worthy perks.
If you’re looking for status, convenience, and exclusivity, a premium credit card could be for you.
Credit cards with travel insurance coverage
You can’t put a price on peace of mind. That’s why most credit cards come with some kind of added purchase or travel insurance.
The available types of purchase insurance include:
- Purchase protection
- Extended warranty
- Price protection
- Return protection
- Mobile device protection
…And travel insurance provided by credit cards can include:
- Common carrier travel accident
- Trip cancellation and trip interruption
- Flight delay
- Baggage delay as well as lost or stolen baggage
- Rental car theft and damage
Introducing the Rate Your Wallet quiz
Now that we have some credit card basics out of the way, we want to introduce you to our credit card matchmaking tool.
It’s because credit cards are not one-size-fits-all that we created the Rate Your Wallet quiz. We want our readers to have access to tailored recommendations based on their spending, income, and preferences.
It’s as easy as completing a fun, 3 minute-quiz to get the answers you crave.
To start, you’ll tell our tool what’s most important to you.
You’ll even be able to indicate just how important each category is to you. Fairly, Somewhat, Must Have, etc.
Once these questions are answered, you’ll also be able to personalize your spending breakdowns, giving you the most specific results possible.
This comes in handy because some credit cards will give you super-boosted rewards for certain specific spending categories.
If you spend the most money on groceries, for example, we’ll make sure to include some cards that will reward you the most for this.
Another important question that the Rate Your Wallet quiz will ask you is your credit score.
If you don’t know your credit score, you can provide a guesstimate range.
Our quiz will base credit card recommendations on your credit score – suggesting the cards to you that you are most likely to be approved for.
So, the more precise you can be, the better.
Get insights into your virtual wallet, instantly
Once you’ve completed the Rate Your Wallet quiz, you’ll be taken to your personalized user dashboard, complete with unbiased recommendations, as well as some other cool features.
The cards that you’ve added in your wallet will be compared to over 130 credit cards from the U.S. credit card market using your provided personal preferences, spending habits, and credit score.
Each card gets a personalized ‘My’ Genius Rating out of 5 telling you just how close you are to having the best available card for you in your wallet.
You’ll also get to see:
- how much rewards you’re earning,
- how much interest you’re paying each year,
- top recommendations based on your preferences and existing cards,
- your pending card applications you’ve made through creditcardGenius,
- your bookmarked cards for easy comparison or as a future wish list, and
- any reviews you’ve left.
Do you have the best card in your wallet? This is where you’ll find out how your wallet is performing.
For example, if you prefer cash rewards, but you have a travel card in your wallet, Rate Your Wallet will point this out to you.
If your wallet isn’t up to snuff, we’ve got your back.
In the “Recommendations” tab, we make suggestions on credit cards you might want to consider and why, based on our advanced matchmaking algorithm.
It’s important to be as accurate as you can, so we can recommend the absolute best results for you.
Interested in a particular card?
Anytime you’re reading a blog article or browsing creditcardGenius, you can bookmark any credit card that you want to compare or look at later.
Or, if you apply for a credit card, it will automatically show up under your pending applications in your wallet – making it super easy to keep your wallet up-to-date.
Experiences are important, and that’s why user reviews have an impact on the ‘My’ Genius Rating.
Want to leave a review? Share with us why you loved your card, or why you might consider cancelling it.
The “Reviews” tab on your dashboard is where you’ll be able to keep track of any reviews you’ve left.
What’s the best credit card you?
Our mission is to make sure you have the best credit cards for you right where they belong, at home in your wallet.
Take the quiz, have a look around your dashboard, and put your wallet to the test.
Let us know what you think in the comments below.
And, as always, feedback is welcome.