10 Credit Cards On The Market You Should Avoid This Year
There are a lot of credit cards on the market today. With so many options to choose from, it can be hard to figure out which one is best for you.
There are always many credit cards to choose from, with varying rates and benefits. It is important to understand the financial risks of each card before applying for it.
This blog will help you identify the 10 credit cards you should avoid, as well as some of the top choices for a variety of needs.
This article will discuss 10 credit cards you should avoid. It will also provide tips on how to avoid getting into debt with these cards and what alternatives are available for those who want a better option.
Avoid Credit Cards That Can Affect Your Financial Health
Credit cards are an important part of our lives. We use them to buy food, clothes, and other necessities. But the rule of thumb is that you should avoid credit cards with high-interest rates and fees.
Credit cards should be a tool to help you manage your finances, not a tool to make you buy more than what you need. If you’re not careful, your credit card company could charge you interest and fees, which can quickly add up.
There are so many credit cards to choose from, but these top five should absolutely be avoided. They’re the worst options for your financial health because they charge high fees, are riddled with hidden costs and rewards in limited categories, and provide very few benefits.
Avoiding these credit cards can save you a lot of money and time in the long run.
Top 10 Credit Cards You Should Avoid in this Year
The following credit cards are among the worst possible options for your financial health:
1. The Amex Blue Cash – Credit Cards you should avoid
The Amex Blue Cash is a credit card that offers some of the best perks in the business.
If you’re serious about maintaining your credit score, it’s worth looking into this card. The catch? There are some fees that might present themselves to you.
2. The Amex Plus
Credit cards are a good financial tool, but it’s important to ensure you have the right card for your personal needs.
The Amex Plus is a credit card that was released in 2015 as a competitor to other popular credit cards, such as the Chase Sapphire Reserve and the American Express Platinum.
Its benefits include an annual $450 airline fee credit, $250 hotel fee credit and no foreign transaction fees.
3. The Amex Gold – Credit Cards you should avoid
The Amex Gold Credit Card is not a card you should use if you are looking to maximize your rewards. It’s not that it doesn’t offer any benefits, it’s just that the other credit cards offer better rates and more perks.
4. The Amex Platinum – Credit Cards you should avoid
The Amex Platinum card was introduced in 2001 and was the first of its kind. The card features a 1% rewards program on all purchases, but it also comes with a $450 annual fee. This card is issued by American Express, but it is not recommended for customers who have bad credit.
5. The Amex SPG (Starwood)
The Amex SPG Card is hands down one of the worst credit cards for anyone who’s just starting out and doesn’t have a lot of credit history.
6. The Chase Marriott card – Credit Cards you should avoid
This credit card is not recommended for the average consumer. Consumers who are interested in the Chase Marriott card should understand that it comes with a hefty monthly fee, high-interest rates and high fees in general.
7. The Chase Ink Plus – Credit Cards you should avoid
Chase Ink Plus credit cards make you sign up for expensive services with no intention of using them.
For example, they offer a $300 cashback on making a purchase in the first three months which is not worth the $95 annual fee. This card has been reported to have mysterious charges and customer service issues, making it unreliable and unsafe.
8. The Capital One Venture – credit cards you should avoid
Venture cards are a type of credit card that provides very low-interest rates and rewards. These cards are popular among millennials because they combine ease of use with a low annual fee.
However, Venture Cards have higher late fees and penalty rates than their standard counterparts.
9. The Fidelity Investment Rewards Cards
Credit cards are meant to help you build a credit score and be financially responsible, but many people end up paying more in interest than they would have been if they’d just stuck with a debit card. Because of this, it’s important to do your research and compare card offers before deciding which one is best for you.
10. The Citi ThankYou Premier Credit Card
The Citi ThankYou Premier is a credit card that the company has recently launched in order to compete with other financial institutions.
The card has a fairly attractive return on investment for consumers who are looking to earn more than 1% cash back on every purchase, but there are a number of disadvantages that consumers should be aware of before getting this credit card.
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