No Transfer Fee 0 Interest For 12 Months Card

Open a Credit Card | Open a Credit Card | PlasticIQ.com

Last Revised: 3/9/2011

While the idea of opening a new credit card may seem straightforward enough, once you start actively searching for a card you can quickly become overwhelmed by the hundreds of different pieces of plastic available in the marketplace.

In fact, it was this very feeling of being “overwhelmed by choice” that led me to create the PlasticIQ website—in particular, the personalized ranking engine.

It’s possible to whittle down the number of card offers you need to evaluate if you know what type of credit card you are looking for. The most common types are:

Rewards Cards: These cards typically offer cash-back, miles, or points on every purchase made with the card. Rewards programs are best suited for cardholders who pay off their balances in full, every month–no exceptions! (the interest rate payments incurred, even on just 1 month out of the year, can often wipe out all earned rewards! Low Purchase APR Cards: These cards are for users who may sometimes have a need to carry a balance. The low APR on the card can help to significantly reduce the damage caused by higher interest-rate cards. Balance Transfer Credit Cards: Certain credit cards enable you to transfer balances at very low rates (or even 0% interest) for a specified period of time. These cards can be a real boon for those cardholders already carrying interest-paying balances.

To be sure, there are even more types of cards out there (business cards, student credit cards, and so on), but we want to keep this post focused. And besides, the above 3 uses are probably the most common.

Below, the editors at PlasticIQ have recommended a total of 4 cards across these 3 categories (we have 2 picks in the low-APR category). We hope you find them useful!

Discover Escape: One Rewards Card to Rule Them All

The Discover Escape credit card delivers in a big way. A strong sign-up bonus coupled with a very aggressive rewards system make this card one of our perennial favorites.

The Upside 25,000 miles sign-up bonus, earned at the rate of 1,000 miles per month over a 25 month period. Earn 2 miles per $1 of spend, on essentially all purchases. The “miles” you earn are really as good as cash back, provided you travel at some point by airline, cruise, car rental, or vacation package. Your so-called miles can be applied as a statement credit (read: cash!