Capital One, United Airlines, American Express, etc. The list goes on with all of them claiming to offer you the most value for your buck. That brings the question up: which one is best for you? Would you like to earn loyalty rewards or receive cash back for your credit card purchases? Do you know which one will forgo the annual fee? Do you know which one charges the highest interest for carryover accounts or penalties on late payments? Then, of course, you will want to know which one offers the best rewards.
Until now, there was often no way to determine the answer to these questions without going through the credit card application process and waiting for the card to arrive. This often meant surfing the Web in an attempt to uncover the miniscule fine print in a company’s consumer agreements or waiting until you were surprised with a 36% interest charge on your unpaid balances when you received your first bill with a carryover charge. Now, however, there is a company called NerdWallet that can do the work for you and locate the best choice for your particular needs.
NerdWallet offers many ways and choices for the consumer to activate its search — one of which should meet the needs of almost every consumer. One way to search is to look for a credit card with a low-interest rate; another option seeks to find which credit card offers the best cashback rewards or air miles. In addition, this neat little program also includes an avenue of recommended options for those who may have less than stellar credit.
In fact, the program has you answer questions that let you enter specifics for the type of credit card you need, and then provides lists directly related to your needs. Below is a list of the specific categories you may find once NerdWallet has done its job:
- Top 10 Credit Card Deals
- Best Rewards Credit Cards
- Best Cash Back Credit Cards
- Best Travel Credit Cards
- 0% APR Credit Cards
- Credit Cards for Bad Credit
So how does NerdWallet operate? First, the company scans thousands of relevant credit card companies and their offerings prior to correlating the comparisons. Once this process is completed, the company then targets those available features against your previously designated needs, including:
- Reward Programs
- Interest Rates
- Balance Transfer
- Annual Fees
- How To Easily Earn Airline Miles
Your next question will probably be: how difficult is the program to use? Fortunately, NerdWallet is user-friendly and, as such, is fairly simple and easy to navigate. In fact, the entire process begins with a short questionnaire where you only need to input which options you want. Then, after viewing a list of available credit cards that meet your criteria, you choose the ones that you want to explore further. Then follows the opportunity for you to view the various offer results and details, which in turn affords you the ability to narrow down the list of credit cards that you think will work best for you.
However, what if you are looking for the best business expense credit card? Well, you don’t have to worry, because NerdWallet has a special website for business owners. This site provides easy-to-understand choices, including overviews and comprehensive explanations for all credit cards offers. Another unique feature of this portion of the NerdWallet website is that it offers the opportunity for business professionals to leave reviews and comments about every credit card. Looking at the reviews and details for each credit card to see how satisfied other companies were with their service can help a business owner select the credit card that will best meet the personal and business needs of his company.
The company that I use is so efficient that it has called us numerous times to make sure that a purchase was actually authorized by us. I know that, each time I have received such a call, my mind has been put at ease and I felt that the company was working in my best interest. However, this is also a high-interest credit card if it is not paid in full every month, so it may not be for everyone.
Over all, I would definitely recommend NerdWallet for anyone searching to find a credit card for the first time or to change to a different one that is more akin to what they need.
CC licensed Flickr photo above shared by 401(k)2012