According to a survey by Custom Industry Insights, the worldwide credit card industry is predicted to expand rapidly, reaching USD 165.6 billion by the end of 2023 and an incredible USD 286.5 billion by 2032.
Credit cards have become an integral part of our lives. Essentially, they allow individuals to borrow money from their bank and repay it within a predetermined time frame. Many people find them convenient as credit cards can serve as a cash substitute that can be used at any given time, for instance, at a gas station.
Moreover, you can avoid interest charges if you settle your entire balance each month. Credit cards also provide greater flexibility than debit cards, offering more generous spending limits and fee options, which is why some individuals prefer them.
Which credit card is the best and easiest?
This is a common question, particularly among beginners. Some common customer choices include American Express Credit Card and MasterCard Credit card. However, the truth is that there is no single 'best' credit card that will perfectly cater to everyone's needs. Each credit card is unique and offers different benefits.
Let’s look into some of the best credit card issues worldwide!
Top 5 Best And Easy Credit Cards
1. American Express Credit Card
American Express is a globally recognized brand offering a range of credit cards that are as versatile as they are rewarding. Known for their premium customer service and substantial rewards programs, American Express cards are often associated with a higher standard of living. Whether you're looking to accumulate points for travel or enjoy cash back on your daily expenses, American Express has a card that can enhance your spending efficiency. With features tailored to the savvy spender and the occasional shopper, American Express stands out as a leader among credit card issuers.
Often referred to as "Amex," it offers a suite of credit cards catering to various lifestyles and spending habits. Their cards are known for their exceptional rewards programs and customer service.
Top Features:
- Rewards Credit Card: Amex cards are synonymous with generous rewards programs, offering statement credits on various purchases from online shopping to dining out.
- Variable APRs: Competitive interest rates that adapt to the market, ensuring cardholders are charged interest fairly.
- Annual Fee: A range of cards with no annual fee to premium cards that offer more benefits, tailored to different credit scores.
- Secured Credit Card Options: For those looking to build or improve their credit score, Amex offers secured cards that are easy to manage with account opening online.
- Exclusive Access: Cardholders enjoy exclusive access to events and experiences, making it more than just a credit card issuer.
2. Standard Chartered Manhattan Credit Card
The Standard Chartered Manhattan credit card is crafted for the modern consumer who values practicality and perks. It's a card that understands the urban lifestyle and rewards it. With cashback on everyday purchases and additional benefits catering to city dwellers' needs, the Manhattan card is a strong contender for those who enjoy the hustle and bustle of city life. From grocery shopping to dining out, this card turns your regular spending into savings and rewards, making it a smart choice for the metropolitan consumer.
Top Features:
- Cashback at Major Retailers: Earn cashback on purchases at major credit card retailers, including supermarkets and gas stations.
- Balance Transfer: Attractive balance transfer options with low interest rates, helping you manage your finances better.
- Rewards Program: Accumulate rewards points on every purchase, which can be redeemed at various outlets.
- Dining Privileges: Enjoy dining privileges and discounts at partner restaurants.
- Annual Fee Waiver: Spend a certain amount annually and get the annual fee waived for your credit card.
3. HSBC Credit Card
HSBC's range of credit cards is designed with the global citizen in mind. Whether traveling abroad or making transactions at home, an HSBC credit card is a reliable companion. With a focus on international acceptance and providing value back on every transaction, HSBC cards are suited for those who want the world in their wallet. The bank's credit cards come with competitive offers that make starting with them as rewarding as straightforward. With a suite of online tools, HSBC ensures that managing your finances is as seamless as their cards are accepted worldwide.
Top Features:
- Global Acceptance: HSBC cards are accepted at millions of locations worldwide, making them perfect for travel and car rentals.
- Introductory Offers: Attractive account opening offers, including cashback on initial purchases and no annual fee for the first year.
- Rewards Program: Earn points on all purchases, with extra points for dining and entertainment.
- Balance Transfer: Offers balance transfer facilities with competitive rates, helping you consolidate your credit card debt.
- Online Banking: Robust online banking options for easily managing your card and finances.
4. MasterCard Credit Card
MasterCard is synonymous with universal acceptance and reliability. Offering a spectrum of credit cards, from basic to premium, MasterCard caters to a broad audience. Their cards are designed to provide freedom and flexibility in spending and managing your money. With MasterCard, you're not just getting a piece of plastic but a passport to a range of services, protections, and rewards that stand the test of time and geography. Whether filling up at the gas station or booking a dream vacation, MasterCard ensures that your card works for you, making every transaction secure and beneficial.
Top Features:
- Wide Acceptance: MasterCard credit cards are accepted at countless locations worldwide, including gas stations and for online purchases.
- Zero Liability Protection: Shop confidently, knowing you're protected against unauthorized transactions.
- Priceless Experiences: Gain access to unique experiences and offers in cities around the world.
- Flexible Rewards: Collect points that can be redeemed for travel, gifts, and other exciting options.
- Competitive Rates and Fees: MasterCard offers competitive rates and fee structures, ensuring value for the cardholder.
5. Citibank Credit Card
Citibank credit cards are known for their comprehensive suite of benefits and rewards. They offer various cards that serve various financial strategies, from maximizing cash back on everyday purchases to accumulating miles for the avid traveler. Citibank's credit cards are designed to integrate seamlessly with your lifestyle, providing not just a method of payment but a tool for financial empowerment. With robust online management tools and customer-centric services, Citibank credit cards are a top choice for consumers looking for a reliable financial partner in their pocket.
Top Features:
- Cashback Rewards: Earn cashback on every purchase, with additional cashback at restaurants and on utility bills.
- Travel Benefits: Enjoy travel benefits including air miles that never expire and can be redeemed across various airlines.
- Online Management: Manage your account easily with Citibank's online services, making checking your balance or requesting a balance transfer convenient.
- Flexible Credit Options: Citibank offers a range of credit options, from secured credit cards to those that reward a high credit score with lower interest rates.
- Bank of America Partnership: Citibank credit cards often have tie-ups with other major banks like Bank of America for broader service coverage.
Final Word
Choosing the best and easiest credit card involves carefully considering annual fees, rewards, and approval processes. Most credits are made to be very easy to use. You also need to consider your spending habits to pick which credit card will best fit you. Your credit health also plays a big role in which credit cards you will be eligible for.
For those seeking a credit card and a holistic financial solution, Bright Builder by Bright Money stands out. Bright Builder combines low-interest balance transfers, easy credit boosts, and personalized plans to help users pay off their credit card debt efficiently while building a positive credit history.
Further Readings
To deepen your understanding of financial management and debt handling, explore the following related articles from Bright Money:
- How does Debt Consolidation Calculator work?
- What are the best Credit Builder Cards available in the market?
- Why is my Credit Score low after getting a Credit Card?
FAQs
1. Which credit card is easiest?
When you're looking for the easiest credit card to obtain, you're likely seeking options that are friendly to those with limited or no credit history. Secured credit cards are often the go-to choice. These cards require a security deposit which typically becomes your credit limit. This deposit minimizes the risk for the issuer, making it easier for applicants to get approved. Look for secured cards that offer a clear path to upgrading to an unsecured card after a period of responsible use.
2. What is the best credit card to start with?
A starter credit card is a great tool for those just beginning their credit journey. Starter credit cards often come with low credit limits and no annual fees. They are designed to help you build credit and learn financial responsibility. If you're in college, student credit cards or cards that are marketed for beginners often come with educational resources to help you understand credit better.
3. Which bank gives first credit cards easily?
Banks like Capital One, Discover, and Citi have well-suited options for individuals looking to get their first credit card. It's always a good idea to start with the bank where you already have a checking or savings account, as your existing relationship may improve your chances of approval.
4.Which card type is best?
The "best" credit card type depends on your financial situation and goals. A secured or student credit card might be best if you're looking to build credit. A cash back or points card could be ideal for those who want to earn rewards. If you travel frequently, a card offering travel rewards and no foreign transaction fees might be the way to go. Before applying, consider your spending habits, repayment ability, and the card's fees and interest rates.
