Explore Credit Cards that Suit Your Purposes: Travel, Business, and More

Credit Cards are one of the most amazing interventions of the banking industry. Whether you are a travel freak, a business owner, or a middle-income individual, you can unlock your dream initiatives with one swipe of a credit card that lets you borrow money for the time being. Although you can sometimes feel overwhelmed with the bills in your pocket, it is worth having as it not only helps you fulfill your dream but also saves you in times of emergencies. If you are looking for a nice family holiday to a foreign country, you can select one from a range of travel credit cards. If you are aspiring to start your own small business or looking for a smooth balance transfer, you can check out the top credit cards that could help you do whatever you want to do.

This article is a little guide for you to pick the suitable credit card that would best serve your purpose. Whether it is for traveling or for any other purpose, this write-up will assist you in choosing the one that best suits your requirements. Through this article, come to know about what credit cards are, what their purposes are, and the top travel, small business, and balance transfer credit cards in the USA that would help you achieve your desires.

What are Credit Cards?

A Credit Card is a financial payment card issued by a financial institution. It allows cardholders to borrow money to make purchases up to a pre-determined credit limit. The only obligation for the cardholder is to repay the borrowed amount, along with applicable interest and fees, to the issuer. In simple words, a credit is a debt instrument that allows you to buy things and pay for them later. This credit facility is generally provided by a bank or credit card provider.

How Does a Credit Card Work?

Credit cards provide you with a line of credit that can be used to carry out purchases, cash advances, and balance transfers on the condition that you pay back the amount borrowed from the card issuer. A credit card helps you build credit, fulfill daily expenses, and make convenient payments. While using this card, one has to pay at least the minimum amount every month by the due date on the balance. If anyone fails to pay the full balance for purchases, the issuer applies interest charges from the date of the transaction for balance transfers or cash advances. Successful payments of the borrowed amount each month takes one’s credit score up.

Credit cards are available for multiple purposes, which determine their types. The types include, but are not limited to, business credit cards, rewards credit cards, student credit cards, secured credit cards, travel cards, and more.

This article examines three types of credit cards and the best options in each category.

Business Credit Cards to Back Your Small Business

Small business cards offer multiple operational benefits, from sorting transactions to overcoming seasonal slumps. One can get short-term capital accessibility to support their business's wealth management strategy with a small business card. It also plays a crucial role in building a business's credit profile, which qualifies it for larger loans, accessibility to higher credit limits, and better relationships with vendors. The following are the top 3 credit cards that best support small businesses in their endeavor.   

1. Capital One® Spark® Cash Plus

The Capital One Spark Cash Plus small business card is designed for business owners who prefer consistent cashback and flexible spending. Unlike other reward cards, this credit card delivers no restrictions on categories, making it suitable for businesses with diverse spending operations. It offers 2% unlimited cash back on all purchases with no category limitations and $2000 welcome bonus after an expenditure of $3,000 within the first 3 months of the account opening. The Capital One Spark Cash Plus card adjusts based on credit profile and usage; even better, it does not have a revolving balance. Through this card, owners can pay-in-full requirements.  

2. The US Bank Business Platinum Card

This credit card for small businesses is appropriate for business owners seeking a credit card with 0% APR (Annual Percentage Rate). It gives 0% intro APR on purchases for the first 18 billing cycles. This card charges a variable APR of 16.99% to 25.99% after the introductory period, depending on creditworthiness. Also, the US Bank Business Platinum Card applies payments to the lowest APRs first after the minimum amount is paid. 

3. U.S. Bank Smartly™ Visa Signature® Card

The U.S. Bank Smartly™ Visa Signature® Card offers a 0% introductory APR on balance transfers and purchases for the first 12 billing cycles. It requires no annual fee and provides up to 2% cash back on your first $10,000 Net Purchases in each eligible billing cycle when coupled with a US Bank Smartly Savings account.

Exploring Travel Credit Cards

Travel credit cards offer several travel-related redeemable benefits and rewards for your travel expenses that include miles, cashback, or points. Listed below are the top 3 travel cards that travellers and nature lovers in the USA can carry to bear their travel expenses hassle-free.

1. The New United GatewaySM Card

 The introductory bonus offered by this card is 30,000 miles after an expense of $1,000 on purchases within the first 3 months of your account opening. It includes 0% introductory APR for 12 months from the date of account opening on purchases. It also provides 2X miles points on United® spending. The New United card also lets you earn 25% back as a statement credit on purchases of beverages, food, and Wi-Fi on Club premium drinks and board United-operated flights. You can also earn two checked bags after spending $10,000 in a year.

2. Hilton Honors American Express Card

The Hilton Honors American Express Card allows you to earn 80,000 bonus points after spending $2,000 in purchases within the first 6 months of your card membership. It also lets you earn 7X Hilton Honors Bonus Points for each dollar of eligible spending charged on the card directly with hotels and resorts under the Hilton portfolio. The complimentary Hilton Honors™ Silver Status provides a 20% Bonus on Base Points earned on every stay, along with a fifth free night stay when anyone books a standard room stay with 100% points.

3. Chase Freedom Unlimited®

The intro offer of Chase Freedom Unlimited® includes a bonus of $200 after spending $500 on purchases within the first three months from account opening. Travel booked through Chase Travel℠ lets you enjoy 5% cash back. This premier rewards program lets cardholders redeem rewards for cash back, gift cards, travel, and more. It also offers 3% cashback on dining at restaurants, takeaways, and eligible delivery services.

Best Credit Cards for Balance Transfer

Balance transfer in credit cards involves moving outstanding debt from one credit card to another with a lower interest rate or a 0% introductory APR. This allows cardholders to pay high-interest debt more efficiently. For the best credit card balance transfer experience, check out the top 3 balance transfer credit cards below. 

1.  American Express Blue Cash Preferred® Card

The Blue Cash Preferred® Card offered by American Express provides multiple benefits, including a highly valuable reward rate and a prolonged intro APR period. On balance transfers, new cardholders receive 0% for 12 months, followed by a 20.24% to 29.24% variable after the introductory period. One can earn significant rewards on daily purchases, like groceries, gas, transit, and streaming services. It also makes earning cash back easier with regular use. 

2.  American Express Blue Cash Everyday® Card

Are you looking for a sophisticated cash back without an annual fee? Are you the one who buys gas and groceries every week? Then the American Express Blue Cash Everyday® Card is what you are looking for. New cardholders receive access to the welcome offer of earning a $200 statement credit after spending $2000 within the first 6 months. Additionally, fast accumulation of rewards when someone factors in this card’s best-in-class reward programs is a cherry on top. You can earn 3% cashback on purchases up to $6,000 in supermarkets, gas stations, and online retail categories.

3. Bank of America® Customized Cash Rewards Credit Card

This balance transfer credit card begins with a long period of 0% introductory APR on purchases and balance transfers. One can enjoy this intro benefit for the first 15 billing cycles and then have to pay 18.24% to 28.24% variable APR to pay off big items with smaller interest bills. Anyone seeking a consolidated debt can get 0% intro APR for the first 15 billing cycles within the first 60 days.

Similar to this article from The Silicon Journal(https://thesiliconjournal.com), business enthusiasts can get access to multiple other articles and blogs from this business publication in the USA. As an emerging business magazine, The Silicon Journal features varied topics involving finance, healthcare, technology, innovation, and more to connect industry leaders.