Best credit card

Due to the personal preferences it is difficult to define a single card. It is appropriate to have two credit cards however you should not have more than two.

Unless otherwise noted, the links in this post will direct you to another website / resource outside of Anasova.

A good card should have:

  1. No annual fee
  2. At least 1% in cash back or the equivalent of more in rewards
  3. No limits to rewards


Specific Cards:

  1. Chase Freedom Unlimited | See reviews
    • 1.5% cash back on everything
    • No limits
    • No annual fee
    • Drawback: foreign transaction fees
  2. Amazon Rewards Visa Signature
    • No foreign transaction fees
  3. Apple Card (Google users your card is coming soon)
    • No foreign transaction fees


Estimated value to an individual

The difference between a good and a great card can easily be $200 to $1000+


Ease of implementation

  • Opening an account with any of the recommended solutions takes between 5 and 15 minutes.

  • While switching is relatively easy, one should maintain the same credit card for an extended period of time. Switching often is negative for your credit score. Maintaining a single card for a long period of time is positive for your credit score.


How we made our recommendation

  1. We focus on credit cards as a way to transact.

  2. People should not carry balances on their credit card - there are better ways to borrow money.

  3. People should use their card and pay off their balance in full at the end of the month.

  4. The economic rewards to good credit are considerable and so we do not focus on bad credit solutions. Through this behavior, many potential fees do not apply, nor does the interest rate.

  5. We place little value to sign up bonuses. An individual should plan to use a credit card for at least 5 years, likely longer.


Key considerations to our approach

  • If you value travel rewards some of the travel programs compare favorably with their direct and indirect benefits.

  • Rewards / points cards with restrictions should be materially better than cash, which provides the most flexibility.


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