Chase preferredWe've schooled you on what CardRatings.com ranked as the worst credit cards of 2011, so it's only fitting to share which pieces of plastic would actually be wise to carry in your wallet this year, according to Card Hub, which bills itself as one of the leading credit card/gift card exchange portals.

Here are Card Hub's picks for some of the Best Credit Cards for 2012.

Best Credit Cards for Initial, Ongoing Rewards Offers

"Consumers willing to hop from credit card to credit card in pursuit of the most lucrative rewards will certainly be interested in identifying the highest initial rewards bonuses," said Card Hub's CEO Odysseas Papadimitriou, in a statement. "Those who want a more lasting rewards card will benefit the most from the highest ongoing rewards earning rates."

• Chase Sapphire Preferred Card: This card offers consumers initial rewards of 50,000 bonus points after spending $3,000 in the first three months of usage (worth $625 in airfare/hotel accommodations or a $500 credit to their card account). With Chase Sapphire, Consumers can earn 1 point per $1 spent on all purchases, and earn 2 points per $1 spent on travel and dining. Also, the first-year annual fee is waived. (After that, the yearly fee is $95.)

• Capital One Venture Rewards Card: This card offers ongoing rewards of two airlines miles per $1 spent on all purchases. In other words, shoppers get 2% cash back when miles are redeemed for any travel-related expense, and 10,000 bonus miles when $1,000 is spent over the first three months of card usage. There is no annual fee during the first year. (It's $59 thereafter.)

• Escape by Discover Card: Users are granted 2 miles per $1 spent on all purchases, or 2% cash back when miles are redeemed for travel credits, and 1,000 bonus miles each month a purchase is made for the first 25 months. Escape by Discover charges a $60 annual fee.

• Capital One Cash Credit Card: This card offers no initial rewards bonus, but effectively 1.5% cash back on all purchases, and there is no annual fee.

Best for 0% APR

"A 0% credit card can be an important tool for consumers looking to lower the cost of debt, either present or future, as well as those interested in leaving their would-be credit card payments in the bank for as long as possible in order to earn the good kind of interest," Papadimitriou said.

But users should take caution: "Make sure you'll be able to pay down the entirety of your balance prior to the end of the 0% introductory period, because high interest rates will kick in at that time and there might not be another 0% card available to bail you out," he said.

• Citi Platinum Select: This card waives interest charges on purchases and transfers for 21 months, with a 3% balance transfer fee. Its variable regular interest rate ranges from 11.99% to 21.99%, and there's no annual fee.

Best For Rebuilding Credit

"Secured credit cards are best-suited for credit-building because they have low fee structures, make it impossible to spend more than you can afford, and offer the closest thing you can find to guaranteed approval in the credit card market," Papadimitriou said.

• Orchard Bank Secured MasterCard: Like all secured credit cards, Orchard Bank's card reports to the major credit bureaus, waives membership fees during the first year and charges a $35 annual fee thereafter. It carries a 7.99% APR and requires a $200 minimum deposit.

Best for Students

"First and foremost, students need credit cards without annual fees in order to build credit as cheaply as possible," Papadimitriou said. "They may also require some rewards or a 0% introductory period in order to lower the cost of everyday expenses or avoid interest on upcoming big-ticket purchases," such as books.

• Citi Dividend Platinum Select Card for College Students: This card waives purchase charges for seven months, offers 5% cash back on utilities as well as on supermarket, drugstore, gas station and convenience store purchases for six months. After that, the Citi Card also offers 2% cash back on rotating spending categories. That means if in January, you get 2% cash back on grocery purchases, in February, you'll get 2% cash back on gas purchases, a Card Hub spokeswoman explained. "The rewards are applied to different types of purchases depending on the time period in which you buy."

What's more, the card offers 1% cash back on everything else.

Check out Card Hub's complete list of the Best Credit Cards of 2012.


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Sky Fairlane

Regarding unpaid debts, a petition has been started on moveon.org to prevent the return of debtor’s prison in the USA. Once enough signatures are obtained, it will go to the US Congress and President Obama.

To sign the petition go to:

signon.org/sign/outlaw-the-return-of

February 10 2012 at 9:58 PM Report abuse rate up rate down Reply
James Stein

Card issuers sent out 4 billion credit card offers by mail last year, 3 times as many as the 2009 total, according to data from Synovate. These numbers are not really surprising, as the improvement in the economy was expected to restore the banks' willingness to hand out new credit. What is surprising is how far most issuers are willing to go in doing so.

The very high overall quality of the offers, with incredible sign-up bonuses and rewards programs, makes one wonder whether the issuers are really that desperate to attract new customers or are they actually forced to be so generous, because Americans are just not all that interested in what they have to offer. http://blog.unibulmerchantservices.com/americans-get-4b-new-credit-card-offers-in-2011-but-are-we-interested

January 16 2012 at 6:52 PM Report abuse -1 rate up rate down Reply
Mike

Only fools do business with banksters, go to your nearest Credit Union if you must borrow. Better to live with out than to be in debt! Got gold?

January 15 2012 at 12:00 PM Report abuse +1 rate up rate down Reply
Patrick Kuhlman

My amex has been a great card. 2 percent cash back on most things. 3 percent on gas. Spend and average of 25,000 per month and its a pay in full so the rewards rack up pretty darn fast. So far I have gotten a big screen tv, 2 laptops, a $500 gift card and more....for free.

January 15 2012 at 11:08 AM Report abuse rate up rate down Reply
savemycountry911

I love American Express.

January 14 2012 at 10:10 PM Report abuse rate up rate down Reply
Lisa

NONE! Stay away from credit cards.

January 13 2012 at 5:46 PM Report abuse +2 rate up rate down Reply
GOODDOC1

Discover Card has no annual fee, and a grace period, so if you pay in full every month (as I do) there is no interest charged. You also cat 1% cash back, and 5% on certain purchases throught the year.

January 13 2012 at 5:42 PM Report abuse rate up rate down Reply
Chris

Best kind of Credit Card you can have is the one that doesn't have a Balance!!!

January 13 2012 at 5:34 PM Report abuse +6 rate up rate down Reply
James Stein

The number of new credit card offers is rapidly increasing, as well as their quality. The best offers are of course reserved for the consumers with the highest credit scores and if your credit history is less than good, you may not be approved for any card, even though card issuers are trying hard to push us away from debit cards and toward credit cards instead. Whatever your circumstances, however, there are simple rules you should follow when making credit decisions. http://blog.unibulmerchantservices.com/5-tips-for-choosing-the-best-credit-card-you-can-get-and-using-it-wisely

January 13 2012 at 5:33 PM Report abuse rate up rate down Reply
russ_byrd

the best thing about a credit card is a pair of scissors !!!!!

January 13 2012 at 5:14 PM Report abuse +4 rate up rate down Reply