What were the best credit cards to use in 2018?
In 2018, the Citi AAdvantage Platinum Select World Elite Mastercard gained attention for offering 2x miles on dining and gas purchases, highlighting how certain credit cards can strategically tailor rewards to consumer spending habits.
The Wells Fargo Propel American Express Card stood out for providing three points per dollar on travel with no annual fee, showcasing the growing trend of no-fee credit cards with competitive rewards structures.
Roughly $23 billion in credit card debt was delinquent in early 2018, illustrating the financial strain many consumers face and the importance of understanding credit card usage and debt management.
The Capital One Venture Rewards Credit Card was recognized as the best flat-rate travel rewards card in 2018, demonstrating how simplicity in rewards structures can appeal to consumers looking for easy earning potential.
The American Express Hilton Aspire Card, which debuted in January 2018, offered a massive welcome bonus of 100,000 points, indicating how promotional bonuses can significantly influence consumer choices in credit cards.
A notable trend in 2018 was the increase in annual fees, as seen with the Citi AAdvantage card, which raised its fee from $95 to $99, reflecting a broader industry shift where premium services come with higher costs.
The Chase Freedom card offered 5% cash back in rotating categories, emphasizing the dynamic nature of rewards programs that incentivize consumers to adapt their spending to maximize benefits.
The Ink Business Preferred Credit Card became popular for offering three points per dollar on travel and select business categories, illustrating how credit products can cater to small business needs.
The American Express Cash Magnet card was introduced in 2018, which provided 1.5% cash back on all purchases, showcasing the appeal of straightforward rewards without complex tier systems.
Many of the best credit cards in 2018 required good to excellent credit scores, which underscores the relationship between creditworthiness and access to premium credit products.
The American Express Membership Rewards program, which many cards were linked to in 2018, allowed users to transfer points to numerous airline partners, enhancing the flexibility and value of earned rewards.
The trend of increasing consumer awareness about travel hacking emerged in 2018, with more individuals seeking to leverage credit card rewards for travel experiences, indicating a cultural shift towards maximizing financial benefits.
The average interest rate on credit cards in 2018 was around 16%, emphasizing the importance of paying off balances to avoid high interest charges that can quickly accumulate.
Cash back credit cards like the Chase Freedom encouraged consumers to engage with their spending habits, as they could earn rewards on everyday purchases, leading to increased financial literacy.
The introduction of new cards such as the AmEx Amazon Business card in 2018 reflected the growing intersection between e-commerce and credit card offerings, catering to online shopping trends.
The evolution of credit card rewards in 2018 saw more cards focusing on specific niches, such as travel or cash back, indicating a market response to consumer preferences and spending patterns.
The "no foreign transaction fee" feature became a standard offering for many travel cards in 2018, revealing how consumer demand for international travel influenced credit card features.
The ability to redeem rewards for statement credits became increasingly popular, as consumers sought more flexibility in how they utilized the benefits of their credit cards.
The 2018 credit card landscape was significantly affected by regulatory changes, which aimed to increase transparency in fees and interest rates, impacting how consumers evaluated credit products.
The rise of mobile payment systems and digital wallets in 2018 began to influence credit card usage patterns, as consumers increasingly sought convenience and integration with their smartphones for transactions.