Are you planning a significant purchase and looking for the perfect credit card to finance it? Using the right credit card can make a big difference to your overall costs, and help you get the best deal for your money. In this post, we’ll be exploring the best credit cards for big purchases and guiding you to make the best decision possible. Let's dive in and find the credit card that's just right for you!
Best Credit Cards For Big Purchases Table of Contents
Understanding Credit Card Features for Large Purchases
When searching for the best credit card for big purchases, there are a few essential features you should consider:
Interest-Free Periods
- Look for cards offering an introductory 0% interest rate on purchases for a specified period.
- Be aware of when the interest-free period ends, and be sure to pay off the balance before that date to avoid any significant interest charges.
Rewards and Cash Back
- Many credit cards offer rewards points or cash back on purchases; these benefits can significantly reduce the cost of your big purchase.
- Compare the rewards rate and the value of the points or cashback to ensure it suits your needs.
Balance Transfer Offers
- If you have an outstanding balance on another credit card, look for cards with attractive balance transfer offers.
- Again, pay attention to the duration of the offer, as well as any potential fees associated with transferring your balance.
Now that we’ve covered the essential features to look for, let’s dive into the best credit cards for big purchases.
Top Credit Cards for Big Purchases
(Disclaimer: We are not endorsing or recommending any specific credit cards. This list is provided for informational purposes only. Please research and choose the best card for your personal situation.)
1. Chase Freedom Unlimited
- Introductory 0% APR on purchases for 15 months.
- Unlimited 1.5% cashback on all purchases.
- No annual fee.
2. Citi Double Cash Card
- No introductory APR offer, but a competitive ongoing APR for those with good credit.
- Offers 1% cash back on all purchases, with an additional 1% cash back as you pay off the balance.
- No annual fee.
3. Capital One Quicksilver Cash Rewards Credit Card
- Introductory 0% APR on purchases for 15 months.
- Unlimited 1.5% cash back on every purchase.
- No annual fee.
4. American Express Blue Cash Preferred Card
- Introductory 0% APR on purchases for 12 months.
- 6% cash back on U.S. supermarkets up to $6,000 per year, then 1%; 3% cash back at U.S. gas stations and select U.S. department stores; 1% cash back on other purchases.
- $95 annual fee, but the high rewards rate can quickly offset the fee for significant spenders.
Best Credit Cards For Big Purchases Example:
Imagine you are planning to purchase new furniture for your living room that will cost around $3,000. If you were to use the Chase Freedom Unlimited card, you could take advantage of the 15-month introductory 0% APR period, allowing you to pay off your purchase over time without incurring any interest charges. Additionally, you would earn 1.5% cash back on your purchase, saving you $45.
In conclusion, when planning a large purchase, it’s essential to find a credit card that not only offers competitive interest rates but also rewards you for your spending. By choosing the best credit card for big purchases, you can save money and even earn rewards for your purchases. Remember to always weigh the benefits against the fees and pay off your balances on time.
Don't hesitate to explore other guides on Flik Eco for more personal finance and investing tips for millennials. And don't forget to share this article with your friends, because who doesn't like saving money, right?
