Top-Rated Credit Cards for 2020
Updated May 3, 2020
- Quick & Easy. Here are the best credit cards for all credit scores in 2020
- With regular monthly payments, these cards will improve credit score!
- Economic times are uncertain. Apply now to get your card before it’s too late!
- Credit NeededBad/Fair
- ApprovalEasy Online Application
- Regular APRSee Terms
Highlights
- All credit types welcome to apply
- Monthly reporting to the three major credit bureaus
- Checking Account Required
- Initial Credit Limit of $500.00* (Subject to available credit)
- Fast and easy application process; results in seconds
- Use your card at locations everywhere Mastercard® is accepted
- Free access to your Vantage 3.0 score from TransUnion* (When you sign up for e-statements)
- Credit NeededBad/Fair
- ApprovalEasy Online Application
- Regular APRSee Terms
Highlights
- All credit types welcome to apply
- Monthly reporting to the three major credit bureaus
- Checking Account Required
- Initial Credit Limit of $400.00* (Subject to available credit)
- Fast and easy application process; results in seconds
- Use your card at locations everywhere Mastercard® is accepted
- Free access to your Vantage 3.0 score from TransUnion* (When you sign up for e-statements)
- Loan Amounts$100 – $35,000
- APR Range5.99% – 35.99%
- Credit NeededBad/Poor/Fair
- Credit NeededBad Credit, No Credit – OK
- ApprovalInstant Approval
- Credit Limit$500 Credit Line!
- Credit Check?No Credit Check
- ApprovalInstant Approval
- Credit LimitGuaranteed $500 Credit Line*
Typical Credit Card Approval Process
How to Apply
What You’ll Need
Getting Your Card
What Are Credit Cards?
Credit cards, also sometimes called “charge cards” allow users to spend money before they actually have it. This is the main difference between credit cards and debit cards.
For example, if you need to make a $250 purchase today, and you don’t have the $250 in cash to make the purchase, a credit card will allow you to make the purchase and pay the $250 later. For those of us that depend on receiving our paychecks every two weeks, credit cards can be a lifesaver.
We spent 200+ hours searching for the best credit cards of 2019, because not all credit cards are made equal. Many shady online credit issuers have high variable rates and lots of hidden fees. None of the issuers on this page have hidden fees, and virtually all are highly rated and respected.
What Can I use Credit Cards For?
Credit cards can be used for everyday purchases, or just about anything! Some of the most popular uses include:
- Everyday expenses, i.e. groceries, gas, coffee, etc.
- Large, unplanned expenses
- Pay for a wedding
- Automobile expenses
- Medical bills
According to research by Finder, roughly 70.02% of all Americans have credit cards. Typically, the better your credit score, the more perks you’ll get with a credit card.
Credit Card Myths
One of the most common misconceptions about credit cards is that they somehow negatively effect your credit score.
For most cases, this is not true. There’s often no impact on your personal credit score to see if you qualify for a credit card. If applying for a specific card will negatively impact your credit, we’ll be sure to make a note on our page.
The only way a credit card can hurt your credit score is if you fail to make your minimum/full monthly payments. Ideally, you’ll want to pay off your credit card in full each month to avoid interest charges. However, even if you only make the minimum credit card statement balance payment, your credit score will actually not take a hit; in many cases, it could improve due to regularly, timely payments. Issuers view timely payments very positively, so you should always aim to pay off your credit card on time every month.
Updated: Jan 30, 2021