6 Credit Cards for New Homeowners

Like a new home, a credit card is a big commitment that can seriously pay off.

[DISCLOSURE: Cards from our partners are mentioned below.]

Buying a home is one of life’s biggest financial events and someone with a new mortgage may primarily be focused on how they’ll afford their new mortgage payment. But it takes more than a mortgage to make a home, with additional expenses such as furniture, remodeling projects and other needs adding to the overall cost.

You may be wondering how you’ll afford all these costs on top of a mortgage payment. Credit cards with low intro APR offers and cash back rewards can help.

Here are six credit cards worth considering if you’re a new homeowner (or will be soon).

1. Citi Simplicity

Rewards: None
Signup Bonus: None
Annual Fee: $0
Balance Transfer Fee: $5 or 3% of the transfer amount, whichever is greater
Annual Percentage Rate (APR): 0% for 21 months, then variable 14.49% to 24.49%
Why We Picked It: This card offers an extremely long intro 0% APR(Full Disclosure: Citibank advertises on Credit.com, but that results in no preferential editorial treatment.)
For Your New Home: With 0% APR for 21 months on purchases and balance transfers, you’ll have nearly two years to make purchases or pay off a balance interest-free. That’s a long time to furnish your home or pay off a remodeling project.
Drawbacks: There are no rewards.

2. Blue Cash Preferred by American Express

Rewards: 6% cash back on up to $6,000 in yearly spending at supermarkets, 3% cash back at gas stations and select department stores and 1% cash back on everything else
Signup Bonus: $250 bonus cash when you spend $1,000 in the first three months
Annual Fee: $95
Balance Transfer Fee: $5 or 3% of the transfer amount, whichever is greater
Annual Percentage Rate (APR): 0% for 12 months, then variable 13.99% to 24.99%
Why We Picked It: New homeowners have many ways to earn great cash back rates on purchases.
For Your New Home: The card earns 6% cash back at supermarkets, 3% cash back at gas stations and select department stores and 1% cash back everywhere else. That means you can earn big cash back rewards as you stock your fridge, pick up accessories and appliances at department stores and fill up your gas tank for all those shopping trips. Plus, you get 12 months of interest-free purchases and balance transfers.
Drawbacks: There’s a $95 annual fee.

3. Wells Fargo Cash Wise Visa Card

Rewards: 1.5% cash back on all purchases
Signup Bonus: $200 bonus cash back when you spend $1,000 in the first three months
Annual Fee: $0
Balance Transfer Fee: $5 or 3% of the transfer amount, whichever is greater
Annual Percentage Rate (APR): 0% for 12 months, then variable 13.99% to 25.99%
Why We Picked It: Wells Fargo borrowers can put their cash back directly toward their mortgage.
For Your New Home: You’ll earn a solid 1.5% cash back on all purchases. Plus, if your mortgage lender is Wells Fargo, you can redeem your cash back as a credit to your mortgage principal. You’ll also get 12 months of interest-free purchases and balance transfers.
Drawbacks: Some competitors offer stronger cash back rates.

4. Chase Freedom Unlimited

Rewards: 1.5% cash back on all purchases
Signup Bonus: $150 bonus cash back when you spend $500 in the first three months, a $25 bonus when you add an authorized user and make a purchase within the first three months
Annual Fee: $0
Balance Transfer Fee: $5 or 5% of the transfer amount, whichever is greater
Annual Percentage Rate (APR): 0% for 15 months, then variable 15.74% to 24.49%
Why We Picked It: A solid cash back rate and a long intro 0% APR period make this card a contender.
For Your New Home: You’ll earn 1.5% cash back on every purchase you make. Plus, you’ll get 15 months of interest-free purchases and balance transfers.
Drawbacks: There are higher cash back rates out there.

5. Citi Double Cash

Rewards: Unlimited 1% cash back on purchases and an additional 1% upon payment
Signup Bonus: None
Annual Fee: $0
Balance Transfer Fee: $5 or 3% of the transfer amount, whichever is greater
Annual Percentage Rate (APR): 0% for 15 months, then variable 14.49% to 24.49%
Why We Picked It: You’ll earn a great cash back rate on all purchases with a strong incentive to pay them off quickly.
For Your New Home: With 1% cash back on all purchases and an additional 1% upon payment, you’ll be motivated to pay off your home expenses. Plus, you’ll have 15 months of interest-free purchases and balance transfers.
Drawbacks: You won’t earn your full cash back until you pay your bills.

6. Home Depot Consumer Credit Card

Rewards: None
Signup Bonus: None
Annual Fee: None
Balance Transfer Fee: N/A
Annual Percentage Rate (APR): 0% intro APR for qualifying purchase types, then variable 21.99% to 26.99%
Why We Picked It: This card can help fund your DIY remodel and repair projects.
For Your New Home: Home Depot purchases of $299 and up get six months with no interest. Home Depot also offers 0% financing promotions for up to 24 months on many different purchase types, including appliances, windows and roofing. Cardholders also get access to special discounts and a year of hassle-free returns.
Drawbacks: If you don’t shop at Home Depot, this card isn’t right for you.

Choosing a Card for Your New Home Expenses

There are two primary ways credit cards can help with home expenses: cash back and 0% intro APR offers. New homeowners should look closely at these policies when evaluating a credit card.

If your priority is cash back, you’ll want to choose a card that rewards the way you’ll be spending on your new home. For instance, if you’ll be entertaining a lot, you may want a credit card that offers special cash back rates on groceries. If you’ll be ordering a lot of gadgets and appliances online, you’ll want a card for online purchases. If you tend to spread your purchases around, you may want a card with a good, flat cash back rate on all purchase types.

Intro 0% APR periods are helpful because you can avoid interest for a predetermined amount of time. If you have a lot of upcoming purchases, you won’t have to worry about paying interest for a while. If your new home expenses have already contributed to a high credit card balance, you can get some relief by transferring that balance to a card with a 0% intro APR offer. When choosing a card, look for one that gives you enough time to pay off your balance transfer or make most of your initial home purchases interest-free.

What Credit is Required to Get a Card for New Home Expenses?

Cards with cash back and strong balance transfer offers usually require good to excellent credit. To increase your chances of approval, you should know your credit score before you apply. You can check two of your credit scores for free at Credit.com.

At publishing time, the Citi Simplicity, Blue Cash Preferred by American Express, Wells Fargo Cash Wise Visa, Chase Freedom Unlimited and Citi Double Cash credit cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for this card. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).

Note: It’s important to remember that prices for products and services frequently change. As a result, rates, fees and terms cited in this article may have changed since the date of publication. Please be sure to verify current rates, fees and terms with the company directly.

Image: courtneyk

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5 Credit Cards to Help Pay Off Your Vacation Spending

Credit cards with strong balance transfer offers can help.

[DISCLOSURE: Cards from our partners are mentioned below.]

Vacations are expensive affairs, with costs including lodging, transportation and car rentals adding up to a large bill. But they can get even more expensive while you’re traveling, because the vacation mindset can lead you to spend on excursions, fancy dinners and gifts for your loved ones back home.

If your recent vacation splurge left you with a spending hangover and a big credit card balance, you may be worried about all the interest you’ll accrue as you pay off your trip. Credit cards with strong balance transfer offers can help, providing a way to transfer your balance to a new card and pay off your balance interest-free.

To do this effectively, you’ll want to check your budget and see how long you think you’ll need and then compare different cards offerings to find the one that could benefit you the most. To help you get started, here are five credit cards that can help you pay off that vacation splurge.

1. Citi Simplicity

Rewards: None
Signup Bonus: None
Annual Fee: $0
Balance Transfer Fee: $5 or 3% of the transfer amount, whichever is greater
Annual Percentage Rate (APR): 0% intro APR for 21 months, then variable 14.49% to 24.49%
Why We Picked It: Citi is currently offering one of the longest 0% intro APR periods in the business. (Full Disclosure: Citibank advertises on Credit.com, but that results in no preferential editorial treatment.)
To Pay Off Your Vacation: With 21 months with no interest, you’ll have nearly two years to pay off your vacation. Plus, there are travel protections, including car rental insurance and emergency assistance, for the next time you take a trip.
Drawbacks: There are no rewards programs with this card, and you’ll pay a balance transfer fee.

2. Discover it Card

Rewards: 5% cash back on rotating purchase categories, 1% cash back on everything else
Signup Bonus: Discover will match all cash back you earn in the first year.
Annual Fee: $0
Balance Transfer Fee: 3% of the transfer amount
APR: 0% intro APR for 14 months, then variable 11.99% to 23.99%
Why We Picked It: You can pay off your vacation balance over time and earn cash back on purchases.
To Pay Off Your Vacation: You’ll get 14 months to pay off your vacation with no interest. You’ll earn 5% cash back on quarterly rotating spending categories and 1% cash back on everything else.
Drawbacks: If you don’t want to keep track of spending categories for cash back, this card requires too much effort.

3. Barclaycard Ring Mastercard

Rewards: None
Signup Bonus: None
Annual Fee: $0
Balance Transfer Fee: $0
APR: 0% intro APR for 15 months, then variable 13.99%
Why We Picked It: Balance transfers cost nothing with this card.
To Pay Off Your Vacation: Balance transfers get 15 months interest-free. You’ll also save on fees, as this card has no balance transfer fee.
Drawbacks: There is a profit-sharing feature called the Giveback program, but you have no control over it and there are no binding obligations for the card issuer.

4. BankAmericard Credit Card

Rewards: None
Signup Bonus: None
Annual Fee: $0
Balance Transfer Fee: $0 for balance transfers made within 60 days of opening your account. After that, the fee is $10 or 3% of the transfer amount, whichever is greater.
APR: 0% intro APR for 15 months, then variable 12.99% to 22.99%
Why We Picked It: This card is another strong choice for avoiding balance transfer fees.
To Pay Off Your Vacation: If you transfer your vacation balance over in the first 60 days, you’ll avoid all transfer fees. After that, you have 15 months to pay off your trip with no interest.
Drawbacks: If you don’t transfer your balance in 60 days, you may end up with a higher balance transfer fee than some competing cards.

5. Chase Freedom Unlimited

Rewards: 1.5% cash back on every purchase
Signup Bonus: $150 bonus cash back when you spend $500 in the first three months
Annual Fee: $0
Balance Transfer Fee: $5 or 5% of the transfer amount, whichever is greater
APR: 0% intro APR for 15 months, then variable 15.74% to 24.49%
Why We Picked It: There’s a strong interest-free intro period and you’ll earn cash back on all purchases.
To Pay Off Your Vacation: You’ll get 15 months to pay off your vacation balance without interest. And, you’ll get 1.5% cash back to help you save for a future trip.
Drawbacks: Depending on your balance, the balance transfer fee may be higher than some other options.

Choosing a Card To Pay Off Your Vacation

With any balance transfer card, you’ll need to check the APR that activates after the 0% intro period. If it’s greater than the interest on your current credit card, you’ll have to be careful. If you don’t pay off your vacation before the intro period expires, a card with a higher APR will hit you with worse interest than you already have.

You’ll also want to evaluate the balance transfer fee. Some cards don’t have balance transfer fees, while others will charge a flat fee or a percentage of your transfer amount, whichever is greater. Depending on the cost of your trip, these fees can get expensive. If the card only offers free balance transfers for a short time frame, you’ll want to make sure to transfer your balance immediately.

Paying off your entire vacation within the intro period is what is likely to save you the most money, so you may want to calculate the monthly payment needed to do that. Using your card for everyday spending will add to your balance, so if your priority is to pay off your vacation, you’ll want to limit purchases on your card until the trip is fully paid off.

What Credit Is Required For a Card To Pay Off a Vacation?

Cards with strong balance transfer offers may require good to excellent credit. You should know your credit score before you apply to get an idea of if you’ll qualify. You can check two of your credit scores for free at Credit.com so you have a better idea and don’t get hit with that inquiry just to get denied.

Image: mapodile

At publishing time, the Citi Simplicity, Discover it, Barclaycard Ring Mastercard and Chase Freedom Unlimited credit cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for this card. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

The post 5 Credit Cards to Help Pay Off Your Vacation Spending appeared first on Credit.com.

4 Credit Cards to Help Fund Your Wedding

With benefits like cash back rewards and 0% interest periods, these cards can help you make getting hitched a little easier on your wallet.

[Disclosure: Cards from our partners are mentioned below.]

Your wedding is the event that launches you and your partner into your future as a married couple. It’s also an excuse to throw a great party and bring together friends and loved ones to celebrate your relationship.
Of course, paying for a wedding is not an easy thing. Whether you’re throwing a backyard barbecue or an elegant affair, expenses can pile up fast, and racking up debt isn’t the greatest beginning for a long-term commitment.

Fortunately, there are some credit cards that can help you curb costs as you plan your wedding. Here are four of our favorites.

1. Citi Double Cash

The Draw: Unlimited 1% cash back on purchases and an additional 1% back upon payments (Full Disclosure: Citibank advertises on Credit.com, but that results in no preferential editorial treatment.)

Signup Bonus: None

Annual Fee: None

Annual Percentage Rate (APR): 0% introductory APR for 18 months, then variable 14.24% to 24.24%.

Why We Picked It: This card provides extra motivation for paying off your balance fast.

Benefits: All purchases earn 1% cash back and an extra 1% upon payment for a total of 2% cash back.

Drawbacks: You won’t earn your full cash back until you’ve paid off your purchases.

2. Chase Freedom Unlimited

The Draw: 1.5% cash back on all purchases

Signup Bonus: $150 cash back when you spend $500 in the first three months

Annual Fee: None

APR: 0% introductory APR for 15 months, then variable 15.74% to 24.49%

Why We Picked It: This is a well-rounded cash back card with a decent rate of return, a signup bonus and a long introductory APR period.

Benefits: All purchases earn a flat 1.5% cash back. There’s a $150 signup bonus, and purchases and balance transfers are interest-free for the first 15 months.

Drawbacks: There are higher cash back rates available if you’re willing to meet slightly more restrictive requirements.

3. Blue Cash Preferred Card From American Express

The Draw: 6% cash back at U.S. supermarkets on up to $6,000 in purchases per year (then 1%), 3% cash back at U.S. gas stations and select U.S. department stores, 1% cash back on everything else

Signup Bonus: $250 cash back when you spend $1,000 in the first three months

Annual Fee: $95

APR: 0% introductory APR for 12 months, then variable 13.74% to 24.74%

Why We Picked It: Through a gift-card hack, you could earn 6% cash back on many of your DIY wedding crafts.

Benefits: If your wedding is a DIY affair, you could earn 6% cash back at retailers by purchasing gift cards and using them elsewhere. There’s also a nice $250 signup bonus and a year of interest-free APR.

Drawbacks: Due to fraud concerns, some grocery stores won’t let customers use plastic to buy gift cards, so check your supermarket’s policy before you apply.

4. Chase Slate

The Draw: No balance transfer fees

Signup Bonus: None

Annual Fee: None

APR: 0% introductory APR for 15 months, then variable 15.74% to 24.49%

Why We Picked It: This card is perfect for balance transfers.

Benefits: This card offers 0% intro APR for 15 months with no balance transfer fees, so if you want to transfer your wedding expenses onto a card with good terms, this is the one for you.

Drawbacks: This basic credit card doesn’t offer rewards.

How to Choose a Card for Wedding Expenses

The best card to finance your wedding will depend on your goals. If you’re looking to save money, a cash back card may be the best fit. If you want to transfer a balance or take some time to pay down your debt, a card with an introductory APR period and minimal fees may be best.

We recommend analyzing your wedding budget to determine what types of purchases you’re likely to make, and then picking a card that will best reward that type of spending. Also keep in mind, signup bonuses are a great incentive if you can realistically meet the spending requirements. Just make sure they won’t require you to stretch your budget.

What Credit You Need to Get a Card to Pay for Your Wedding

Most cards with cash back rewards or introductory APR offers require good-to-excellent credit. If that describes you, acquiring a new card should not be a problem. Not sure of your standing? You’ll want to check your credit score before you apply. You can view two of your scores for free on Credit.com.

At publishing time, the Chase Slate, Chase Freedom Unlimited, Blue Cash Card from American Express and Citi Double Cash credit cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for these cards. However, these relationships do not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

Image: aldomurillo

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5 Credit Cards to Help Fund Your Summer Renovations

Big home projects come with a lot of upfront expense, but the right credit card can help you finance the work.

[Disclosure: Cards from our partners are mentioned below.]

Home renovations and updates come in all shapes and sizes, but one thing they have in common is a lot of upfront expense. Whether you’re landscaping your yard, replacing your hot water heater or remodeling your kitchen this summer, you may need help financing your project.

The right credit card can help you do that. With that in mind, here are five card options worth considering.

1. Home Depot Consumer Credit Card

The Draw: Discounts and special interest-free financing offers

Signup Bonus: None

Annual Fee: None

Annual Percentage Rate (APR): 0% intro APR for qualifying purchase types, then variable 17.99% to 26.99%

Why We Picked It: Home Depot’s credit card can help you fund your project and give you time to pay it off interest-free.

Benefits: For Home Depot purchases of $299 and up, you’ll get six months with no interest. Home Depot also regularly offers promotions of up to 24 months with no interest for various project types, such as garages or water treatment purchases. There are special discounts available for certain products as well. Finally, cardholders get a year of hassle free returns, nine months longer than Home Depot’s standard return policy.

Drawbacks: The card is tied to Home Depot, so if you want to purchase your project materials elsewhere, keep looking.

2. Lowe’s Consumer Credit Card

The Draw: 5% off Lowe’s purchases, 0% intro APR for qualifying purchase types

Signup Bonus: None

Annual Fee: None

APR: 0% intro APR for qualifying purchase types, then 26.99%

Why We Picked It: Lowe’s customers get a 5% discount and long intro periods to pay off their purchases without interest.

Benefits: Purchases of $299 and up qualify for six months interest-free if they’re paid off in that time period. Lowe’s also offers 10% discounts and 24 months interest-free on specific purchase types like patio furniture and grills. Cardholders get 5% off all eligible purchases, but that discount can’t be combined with most other offers.

Drawbacks: Once the interest kicks in, it’s quite high. Those who don’t shop at Lowe’s will see no benefit from this card.

3. Discover it

The Draw: 5% cash back on quarterly rotating purchase categories, 1% cash back on all other purchases

Signup Bonus: Discover will match all cash back earned in the first year.

Annual Fee: None

APR: 0% intro APR for 14 months, then variable 11.74% to 23.74%

Why We Picked It: If you move fast, you can earn 5% cash back on your home improvement purchases.

Benefits: The card earns 5% cash back on rotating purchase categories on up to $1,500 in purchases per quarter. Right now, the bonus category includes home improvement stores, but you’ll have to act quickly because the category will roll over in July. The card also offers 0% intro APR for 14 months, a long time to pay off your project. Plus, as we mentioned, Discover will match your earned cash back for the first year.

Drawbacks: If you don’t want to track rotating purchase categories, this card will be a headache. You also need to move quick to take advantage of 5% cash back on home improvement store purchases.

4. Citi Double Cash

The Draw: 1% unlimited cash back on purchases and an additional 1% as you pay off those purchases

Signup Bonus: None

Annual Fee: None

APR: 0% intro APR for 15 months on purchases and balance transfers, then variable 14.24% to 24.24%.

Why We Picked It: The card earns 1% cash back on your renovation expenses, then gives you an extra 1% incentive to pay your balance down quickly. (Full Disclosure: Citibank advertises on Credit.com, but that results in no preferential editorial treatment.)

Benefits: By the time you’ve paid off a purchase, it’s earned you a total of 2% cash back, significant for an expensive home renovation project. Plus, Citi Price Rewind automatically searches for a lower price on items you register, and will issue a reimbursement if a lower price is found within 60 days of the date of purchase.

Drawbacks: Because you don’t get a full 2% cash back rate until you pay, this card isn’t a good fit for those that tend to carry a balance.

5. Chase Freedom Unlimited

The Draw: Unlimited 1.5% cash back

Signup Bonus: $150 when you spend $500 in the first three months

Annual Fee: None

APR: 0% intro APR for 15 months on purchases and balance transfers, then variable 15.74% to 24.49%

Why We Picked It: The card earns an automatic 1.5% cash back on all purchases, and has a lengthy 0% intro APR period.

Benefits: All purchases earn 1.5% cash back, with no purchase categories to track or hoops to jump through. Cardholders also won’t incur interest for 15 months, a substantial time frame to pay off your project.

Drawbacks: This isn’t the highest cash-back rate available.

How to Choose a Credit Card for Your Home Project

The type of renovations you’re doing could determine the right card for your project. For instance, if you’re installing a shed in your backyard, and Home Depot is offering a deep discount on sheds, that might be enough of a draw to choose that card.

However, if your project requires many different purchase types spread across multiple stores, or if you also want a card that you can use for everyday spending, you’re likely better off with a general spending card with cash back rewards.

If you’re looking to take advantage of a 0% intro APR offer, you’ll want to estimate the cost of your project and find a card with a payback period long enough for you to pay off the project in full. Otherwise, you’ll wind up getting hit with interest once the intro period expires.

What Is Required to Get a Card for My Home Project?

Cash-back rewards cards generally require good to excellent credit to qualify, while store branded credit cards may have looser requirements. No matter what card you wind up choosing, you’ll want to be confident you can qualify before you apply. You can check two of your credit scores for free on Credit.com to get an idea of where your credit stands and which cards you may be eligible for. Need to improve your scores? You can read more about how to do so here.

Image: shironosov

At publishing time, the Discover it, Citi Double Cash and Chase Freedom Unlimited credit cards are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for this card. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

The post 5 Credit Cards to Help Fund Your Summer Renovations appeared first on Credit.com.

Chase Freedom Unlimited or Capital One Quicksilver Cash Rewards: Which Card’s Right for You?

Here's how to choose between some of the best cash back credit cards — Chase Freedom Unlimited and Capital One Quicksilver Cash Rewards.

If you are looking to pick up a new cash back credit card, you have two choices. You can either get a card that offers different reward values depending on the type of purchases you are making, or you can choose a card that offers a flat rate, no matter what you might be buying. The latter are hassle free and take very little effort on the part of the consumer.

If you are looking to go down the easier path, then two of the best cards available are Chase Freedom Unlimited (which we’ve reviewed in detail here) and Capital One Quicksilver Cash Rewards. Both of these cards will offer the same flat rate on purchases, and both have no annual fee. Where these cards differ slightly is in how you redeem your rewards. In this article, we’ll walk you through the benefits each card has to offer. We’ll also talk a little about the costs and help you determine which card’s right for you.

Comparing the Rewards

The earnings potential is where these cards are very similar. With Chase Freedom Unlimited, you have the ability to earn an unlimited 1.5% cash back on every purchase. You also receive a generous signup bonus of $150 after spending $500 in the first three months. And you receive an additional $25 bonus when you add an authorized user who makes a purchase in the same three-month period.

The Capital One Quicksilver Cash Rewards card also offers 1.5% back on every purchase. There is no limit to the amount of cash back you can earn. Plus, when you sign up for this card, you will receive a $100 bonus after spending $500 in the first three months.

Redeeming Your Rewards

If your sole purpose in having either of these cards is to earn cash back, both will do the job. However, if you would prefer having additional redemption options, then you will enjoy the Chase Freedom Unlimited card. While this is technically a cash back card, you will also have the opportunity to convert your earnings into Ultimate Reward points, with some restrictions. You will then be able to use these points for travel through the Ultimate Rewards portal. If you go this route, your points will be worth 25% more. Alternatively, you can transfer points to one of the many airline or hotel transfer partners.

Now that you’ve heard the good stuff, let’s discuss why to choose either card.

Reasons to Pick the Chase Freedom Unlimited

If you are trying to decide between these two cards, then you are likely to choose the Chase Freedom Unlimited for two reasons. First, you will receive a higher signup bonus, including the ability to earn even more when you add an authorized user. The second reason is that you’ll have the option to convert your cash back into Ultimate Rewards. While earning cash back is nice, knowing you can also use your rewards for travel might be something you’d like.

If you are planning to make a large upcoming purchase, then you might find the introductory APR from the Chase Freedom Unlimited to be a little more useful. You will receive a 0% APR for 15 months on purchases and balance transfers. After that, there’s a variable 15.49% to 24.24% APR. The Capital One Quicksilver Cash Rewards card only offers 0% for the first nine months (and a variable 13.49% to 23.49% APR after).

Reasons to Pick the Capital One Quicksilver Cash Rewards Card

The Capital One Quicksilver is great if you are looking for a plain-and-simple cash back card. This card is perfect for someone who doesn’t want the hassle of transferring points and figuring out whether they’re getting a good value. Plus, it has no foreign transaction fees (Chase Freedom Unlimited has a 3% fee), so this card is ideal for anyone who enjoys traveling outside the U.S.

Remember, before you apply for any credit card, it’s a good idea to know where your finances stand first. You can view two of your credit scores, with updates every 14 days, for free on Credit.com.

At publishing time, the Chase Freedom Unlimited and Capital One Quicksilver Cash Rewards Card are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for this card. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).

Image: martin-dm

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