Top 4 Chase Credit Cards of 2016
The credit card industry is extremely competitive with issuers trying to appeal to potential cardholders by offering a number of very attractive perks and introductory bonuses and interest rates. If you are looking for a new credit card, the nation’s largest bank, Chase, has a number of attractive options. Here are four of the top Chase cards of 2016.
The Chase Slate card is one of the industry’s best balance transfer cards. The card has no balance transfer fees if you make the transfer during the first 60 days of being a cardholder. Other credit cards on the market typically charge a 3% to 5% balance transfer fee, so this feature saves a great deal of money. The Chase Slate card comes with a 0% introductory APR for 15 months on both purchases and balance transfers. After those first 15 months, the card’s APR is 13.24% to 23.24% depending on your creditworthiness. Chase Slate cardholders also receive their free monthly FICO Score online. You can see the reasons behind your score, view a summary of your Credit Report information, and get helpful information on ways to manage your credit health. The card does not have a rewards program, but does offer fraud protection and Chase online management. The card was made for consumers with great credit, which means that you won’t be able to be approved if your credit score is not up to par. This card has no annual fee.
If you are looking for a solid credit card and have excellent credit, then you may want to consider the Chase Freedom card. The card has a number of attractive benefits, including no annual fee and a 0% APR for the first 15 months of card ownership on both purchases and balance transfers. That introductory APR rate makes the Chase Freedom card very appealing to those who are going to make a large purchase in the first few months of opening an account. After those first 15 months, the card’s APR shifts to 14.24% to 23.24% variable rates. When you open an account with the Chase Freedom card, you’ll also earn a $150 bonus after you make $500 in eligible purchases in the first three months. If you add an authorized user during that same period, you will receive an additional $25 bonus. The rewards program is fairly significant, as you will get 1% cash back on all eligible purchases, and 5% back on purchases in revolving categories each quarter, up to $1,500. If you are someone who likes to eat out at restaurants, this card can be extremely beneficial, especially since one of the revolving categories is typically restaurant purchases. The biggest issues with the card are the balance transfer fees of 5%, and the fact that you need great credit in order to be approved for this card. If you are looking for a versatile credit card with a great introductory offer, then consider the Chase Freedom card.
The Chase Freedom Unlimited is a wonderful cash back card, especially for those consumers who do not want to keep track of rotating bonus categories that they have to register for each quarter. The Freedom Unlimited card does not have the rotating bonus categories like the Freedom card, but rather, a higher level of cash back on all purchases. Cardholders receive 1.5% cash back on all purchases, with no cap on the amount of spending and rewards that can be redeemed in any amount and at any time. New cardmembers earn a $150 bonus after making purchases for $500 during the first three months of having the account. Plus, an extra $25 bonus is offered if you add an authorized user who makes a purchase within the same three month period. New applicants receive a 0% APR for 15 months on both new purchases and balance transfers, with a 5% balance transfer fee. Once the promotional financing rate expires, the standard interest rate of 14.24%, 19.24%, or 23.24% applies, depending on your creditworthiness. There is no annual fee for this card.
The Chase Sapphire Preferred is one of the top travel cards in the credit card industry. Benefits include 50,000 bonus points when you spend $4,000 on purchases in the first three months of opening your account which is the equivalent of $625 when redeemed through Chase Ultimate Rewards. In addition, you will receive 5,000 bonus points when you add the first authorized user who makes a purchase in the first three months of having the account. You’ll also get 24/7 customer service, which allows you to talk to a real person whenever you’d like. Cardholders receive one point for every dollar spent, and two points on travel and restaurant dining, which makes the card a very solid option for those who do a lot of traveling. In addition, the card has no foreign transaction fees, and offers 1:1 point transfers on participating travel programs. The card has an APR of 16.34% to 23.24% depending on your creditworthiness. The card does not have a lower introductory APR rate, and is designed for consumers with great credit. The Chase Sapphire Preferred card has a $95 annual fee, but that fee is waived for the first year.
The Chase card you choose should depend on your personal needs. If you need a balance transfer card, the Chase Slate card is widely considered the best on the market. But if you want rewards, whether that is cash back or travel benefits, the Freedom, Freedom Unlimited and Sapphire Preferred cards offer very attractive benefits. All four of these Chase cards require strong credit scores.
About Bill Hardekopf
Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.