Before 2016 there was no credit card that could be considered “good”. The best credit cards were:
- Paypal Visa Card
- Chase Freedom Visa Card
- Citi Double Cash Credit Card
- Citi Thank You Account
- Marriott Rewards Premier Credit Card
The basics of credit cards
The credit card industry is the largest and most innovative segment of the financial services industry. The card industry is a multi-billion dollar business that is dominated by a handful of majors (American Express, Chase, and Citi all have approximately 20% market share; Discover, MasterCard, and Visa have an even smaller slice).
There are 5 major credit card brands in the US: American Express, Chase, Citibank, Discover, and MasterCard. The 5 major banks (Bank of America, Wells Fargo, Bank of New York, and JP Morgan) control over 60% of the market share. The total number of cards issued to American customers is around 8 billion cards per year.
There are 2 categories that interest me when it comes to credit cards: premium cards and non-premium cards.
The importance of credit cards
In the world of credit cards, there is a huge difference between the ‘best’ and ‘good’ credit cards. The reason for that, is that there are many different types of credit cards out there, but for the sake of this article, I will only refer to those banks or card issuers that have their own brand associated with them, such as American Eagle.
In this article I am going to list 7 best credit cards 2022 you can use when shopping in 2020.
History of credit cards
Credit cards have been around for a long time. They’ve come and gone, with some of them (such as the Discover card) becoming extinct. With all that history, we at CreditCards.com thought it was time to take a look back to see what we think will be the best credit cards of the future.
Credit cards have always been useful in places where you can’t carry cash, like at a restaurant or coffee shop, but they also have played a big role in everyday life: grocery shopping, paying for parking, and even picking up some small household supplies.
As this list shows, credit cards are not always used in the way we think they should be used: Many people do not know how much money is on their credit cards or how much debt they owe and because of that are not comfortable carrying around an actual bill when shopping or paying bills.
So which credit card is worth carrying around? We’ll tell you which two were our favorites:
Types of credit cards
If you want to buy something, you need a credit card. But how do you get the best possible credit card?
In everyday life, credit cards are a tool that we use to buy things. But there are two important factors that often go unmentioned when someone is given a new or an extended credit limit on their credit card: Their income, and the type of card they’re applying for.
A person who has a $3,000 limit may be limited to spending $2,000 per month on average — but only if they’re able to pay off their debt in full every month.
Credit cards have been around for more than 100 years, so there has definitely been some evolution in how people use them. But the basics remain the same: When you’re shopping with your credit cards, you must pay attention to which criteria (income level, age) determine which type of card gives you the best deal.
Features of credit cards
The best credit cards of 2022 will be:
- Visa Signature – The card that’s the most versatile and secure, but also the most expensive.
- If you absolutely must have it, MasterCard® Gold Card – The perfect balance between security and usability.
- What is so special about this card? It doesn’t come with a PIN number, so it can be used for almost any purchase, anywhere in the world.
- American Express® – The only credit card worth considering if you want to reduce your credit-card debt by raising your rate from 6% to 12%.
- Discover® – The perfect balance of speed, safety, and convenience all wrapped up into one attractive package that can be used everywhere in the world.
- Credit card laws in the usa
There are over 200 countries in the world, each with their own credit card laws. The one thing that they all have in common is that they are all expensive to use.