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Top Credit Card Picks for 2020

By: Financial Hotline
Winter 2020 (Vol. 37, No. 4)

EXCELLENT AND GOOD CREDIT: The Bank of America Cash Rewards credit card offers 0% on balance transfers for the first 18 months and 14.49% - 25.49% after the intro rate expires. There’s also no annual fee and a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. You can earn 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs and unlimited 1% on all other purchases. Apply through the credit card link at

TRAVEL REWARDS: With Bank of America Travel Rewards Visa credit card you can earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don’t expire. You get 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening, that can be a $250 statement credit toward travel purchases. Use your card to book your trip how and where you want, you’re not limited to specific websites with blackout dates or restrictions. Redeem points for a statement credit to pay for any travel related expense. This card also offers 0% Introductory APR for 12 billing cycles for purchases. After the intro APR ends, 16.49% - 24.49% Variable APR will apply. Apply at

BAD CREDIT OR NO CREDIT HISTORY: There are several cards for those with a lower credit score, but most will charge a high yearly fee. We recommend the Capital One Platinum Credit Card because it has no annual fee. Also, even though it starts you out with a low credit limit, you can steadily grow your credit line after making your first 5 monthly payments on time. Look for the credit card link at to apply.

The Petal Visa Credit Card is another good option in this category. It has no annual fee, offers cash back rewards, considers people with a thin credit history and can help you build your credit score. But the interest rate can also be high, so be careful if you carry a balance. Apply online at

If you are enrolled in college, student cards are a great way to begin building credit. Our top pick is Discover it Student Chrome Card. This card will match all the cash back you’ve earned at the end of your first year, automatically. You can earn 2% cash back at gas stations and restaurants plus earn unlimited 1% cash back on all other purchases - automatically. You can also earn a $20 statement credit each school year your GPA is 3.0 or higher for up to the next 5 years. Get more info and apply at

SECURED CARDS: If you are having trouble qualifying for any card, you may want to consider a secured card. Basically, you are using your own money, but when used responsibly, a secured card can help you start or rebuild credit plus it allows you to charge online or use merchants who don’t accept other forms of payment.

The Citi Secured Mastercard is a no annual fee card with monthly reporting to all 3 major credit bureaus. It gives you free access to your FICO score online and you can use your card anywhere Mastercard is accepted worldwide. Your credit limit will be equal to your security deposit (minimum of $200). The standard variable APR is 23.99%. Go to com for more info.

Green Dot primor Visa Gold Secured Credit Card charges a $49 annual fee but has credit lines available from $200 to $5,000 with a low fixed rate of 9.99% on purchases - with no penalty rate! They report to three national bureaus. Apply at