What Is the Mod 10 or Luhn Algorithm?

Our website describes the various aspects of using credit cards and everything that is related to the credit card numbers, and the Luhn algorithm has a direct connection with it. In this article of ours, we will uncover what is the Luhn algorithm, what are its features, and how to use it. The algorithm is explained in a simple language, so you don’t have to worry that you may not understand something. Besides, you will get clear instructions on how to check a credit card number with the help of the Luhn algorithm. Enjoy the read!

The Basics of the Luhn Algorithm

The Luhn algorithm is also known as the mod 10 algorithm or the modulus 10 algorithm. This algorithm appears to be a pretty simple formula for validating the numbers of credit cards. When you type your credit card number on an online website and make a mistake, you get to see an error, which means that the system knows that there has been made a mistake in the card number. The system knows that exactly thanks to the Luhn algorithm, which helps to define it.

Initially, the Luhn algorithm was created by Hans Peter Luhn, who worked at IBM as a scientist at the time of the formula’s creation. In 1954, he filed a patent for this formula and received the patent in 1960. As of the present time, this mod 10 algorithm appears to be in the public domain, which also allows to be in a wide use across the globe.

But the modulus 10 algorithm is used not only for validating the credit card numbers. This simple formula is also used for validating the numbers of IMEI numbers, Social Security Numbers of Canada, the number of the National Provider Identified in the United States, and the Social Security Numbers in Greece (AMKA). As you can see, this formula is quite useful and appears to be in quite a wide use nowadays.

What is the MOD 10 or Luhn Algorithm

Many users wrongly think that this mod 10 algorithm is intended to be a means of protecting from malicious attacks. However, one should understand that the Luhn algorithm is simply a formula that helps to identify accidental errors, such as mistyping a credit card number on some website. Therefore, this modulus 10 algorithm has nothing to do with protecting any data – it just appears to be a means of verifying codes. And, of course, the most used way of this mod 10 algorithm is identifying the mistyping errors of credit card numbers.

As a matter of fact, our website also utilizes several tools that function on the basis of the mod 10 formula, and you can even make use and take advantage of them. The first tool we recommend you to utilize and that you can find on our website is the Credit Card Generator tool. What does this tool allow you to do? By utilizing the mod 10 algorithm, this tool creates fake numbers of credit cards that look totally valid and normal. Then, you can use those credit card numbers on the websites that require you to provide your card number. With the help of that tool, you can create fake credit card numbers of such cards like JCB, Diners, Discover, AmEx, MasterCard, and Visa.

On the other hand, you can also make use of another useful tool, which is available on our website. It is going about the Credit Card Checker tool. By using the Luhn algorithm, this tool actually validates the credit card number that you will enter. Once you have entered a credit card number, you can click on “OK” and you will get to see whether this credit card number is valid. Additionally, you will also get to see the examples of various credit card numbers, including the numbers of such credit cards like Visa, MasterCard, JCB, Discover, Diners Club, and American Express.

How to Use the Luhn Algorithm

As it was already said above, the mod 10 algorithm is applied by various systems to check errors and validate numbers. Since this algorithm appears to be quite a simple formula, it can be used not only by various systems and machines, but even you can check a credit card number on your own.

For instance, this article on our website explores what are the main constituents of any credit card number. By knowing the structure of a credit card number, you will be able to break it up and understand whether it is valid. In short, any credit card number includes the major industry identifier (the first digit that identifies a company), the issuer identification number (the first 6 digits that identify a bank that has issued a credit card), and the account identifier of a customer (the remaining digits except of the last one).

By knowing that simple structure and utilizing the Luhn algorithm, you will be able to validate your credit card number on your own. For instance, you should make the following steps in order to check a 16-digit long credit card number:

  • Every other digit in the card number should be doubled and noted down (start with the first digit).
  • Then, you should transform the double digits you received (for instance, 6*2=12) into one-digit results. In the given example, it would be like this: 1+2=3.
  • Add up all the digits that you doubled (including the ones that you transformed from two-digit results into one-digit results).
  • Then, get back to the initial credit card number. Add up all the numbers that you ignored during the first phase (including the last digit).
  • Eventually, add those two sums that you have received. If you got a zero, then your credit card number is valid.

But what one should do with 15-digit long credit card numbers (the cards from American Express, for example, feature such numbers)? Actually, you have to change only one thing: you need to start doubling with the second digit. Regarding everything else, the instructions are the same. The Luhn algorithm appears to be that simple, and, as you can observe, you can easily apply this algorithm on your own.

The Luhn Algorithm Today

The Luhn algorithm was quite an important discovery of its time and nowadays it is still widely used, but there are large portions of criticisms regarding the use of this formula. As it was said above, this is a simple formula and it cannot prevent malicious actions – all it can do is identifying errors, and this is something that must be kept in mind. And while people may seem that this is important, it’s a wrong way to point to this.

The Luhn algorithm has serious drawbacks in regards to its main aim – spotting errors in the code numbers. While this mod 10 algorithm will detect any single digit error, it may be difficult to apply it to more complex computations. For instance, the Luhn algorithm would be unable to detect the transposition of any two-digit sequence starting from 09 and ending with 90. In addition to that, this algorithm can detect only 7 out of 10 possible twin errors. In a result, this formula has a far bigger number of vulnerabilities than, for example, the Damm algorithm and the Verhoeff algorithm, which tend to be far more complex.

how to use the luhn algorithm

To sum up, it can be said that the Luhn algorithm today appears to be one of the easiest way to validate credit card numbers. Our website also utilizes a number of tools that are based on this formula. Considering that this tends to be the easiest way to validate the numbers of such documents like credit cards, IMEI, or some Social Security Numbers, this formula will be in use for a long time. At least, it seems so for now. After all, it’s thanks to this formula we see an error when mistyping a credit card number.

In addition to that, our website also features such a section like Credit Cards. There, you can find reviews of the best and most beneficial credit cards on the market. For instance, the Citibank Credit Card Review contains insightful information about the top credit cards from Citi. Likewise, you can also get to know more about credit cards by reading the Chase Credit Card Review, Amazon Credit Card Review, or Best Buy Credit Card Review.

What Constitutes a Valid Credit Card Number?

Expectedly enough, those numbers you can see on any of your credit cards are not just random digits. They are written according to a certain algorithm, which is known as the Luhn algorithm. In this article, you will get to know what is the Luhn algorithm and what constitutes a valid credit card number, so you will actually be aware of what the numbers on your credit card mean.

Actually, the numbers from your credit card don’t only identify your account, but also provide a routing information. Thanks to this, the charges gets processed correctly every time you use your credit card anywhere. And now we will have a closer look at what those numbers signify.

What Constitutes a Valid Credit Card Number?

As a matter of fact, a typical credit card number can be divided into three parts: the first number, the middle number, and the last numbers. That’s the fact that will actually help us to understand what constitutes a valid credit card number easier. By understanding this structure of a credit card number, you will be able to generate your own valid credit card number.

Once you have grasped what each of those elements signifies in the overall structure of a valid credit card number (by reading about each of the elements below), you actually understand the entire structure of each credit card number. And you can easily find a proof that this method works. In order to find out what constitutes a valid credit card number, you can, for example, use the Credit Card Checker tool. Actually, that tool allows you to find out whether a particular credit card number is real or not.

What Constitutes a Valid Credit Number

Another tool that you can find on our website and you can take advantage of is the Credit Card Generator. Once you have learnt what constitutes a valid credit card number, you can create your own credit card number with ease. So, this tool can create a valid credit card number automatically by utilizing the above mentioned Luhn algorithm, so you don’t have to do it on your own.

The First Number of a Credit Card Number

As it was noted above, every credit card number is divided into three sections, and the first section of it is the very first (single) number. Actually, it is something similar similar to a phone code. When you call on a phone number beginning with +33, you probably know that you are going to call to France. Same stands for the credit card numbers, but in a bit different manner.

The first number of a credit card (this number is also known as MII, or major industry identifier) actually defines which major company issued your card. Typically, the credit card numbers started with a digit from 3 to 6. For instance, a Mastercard credit card should start with the digit 2 or 5, while Visa cards typically begin with the figure 4.

Here, for example, you can see the typical first numbers of the credit card numbers:

  • Mastercard: 2
  • American Express: 3
  • Visa: 4
  • Mastercard: 5
  • Discover 6.

But what about other figures, which are not included in this list? Well, the remaining figures are given to the cards of companies in other industries (i.e. those cards are not credit cards). For instance, the cards of health care and telecommunications companies start with the digit 8, while the first digit 7 is used by petroleum companies. If a credit card starts with a digit 1 or 2, it belongs to an airline company (don’t confuse it with airline credit cards, issued by banks!). After all, the digit 9 is reserved for national numbering systems, so any country may use it.

The Middle Numbers of a Credit Card Number

In order to gain an understanding what constitutes a valid credit card number, you should necessarily know about the middle numbers of every credit card number. Actually, they appear to be an important part of a credit card number and bear a certain meaning.

The first six numbers of any credit card number (including the first number, or the major industry identifier) are called as IIN, or the issue identification number. As you can understand from the name of these digits, they point to the bank or institution that issued a card. Certain numbers are attributed to a certain institution, so one may easily distinguish by what bank a card was issued with the help of these 6 figures.

The Last Numbers of a Credit Card Number

All the numbers of a valid credit card number except of the first 6 digits and the last digit are attributed to the account of a card holder. Those numbers are different than the person’s bank account number, but they help to understand to whom a particular credit card belongs. This way, you know now what constitutes a valid credit card number.

Above, however, there was mentioned the Luhn algorithm, which keeps these number running. Actually, this algorithm is used by the systems in order to verify whether a certain credit card number is valid. When you enter a credit card number on some website and mistake a certain digit in that card number, you immediately get an error, showing that you have just mistyped a credit card number. But, how the system is able to recognize it? It’s exactly thanks to this Luhn algorithm.

what contains a valid credit card number

The Credit Card Checker tool, which is available on our website and which was published above, utilizes the Luhn algorithm in order to check credit card numbers. Previously, it hasn’t been said what the last digit means. Actually, the Luhn algorithm utilizes the last digit as a check digit, i.e. uses it to make sure that a credit card number is typed correctly. The Luhn algorithm doesn’t tell you what constitutes a valid credit card number, but it actually allows you to check which credit card number is valid.

In order to use the Luhn algorithm, you don’t have to necessarily deploy a system or a tool. You can actually do it on your own and check whether a credit card number is valid. So, you need to make the following set of actions if you have a 16-digit credit card number:

  • The first thing you need to do is doubling every other digit of your credit card number. You should start from the very first digit and note down the results you have got.
  • If you have received double-digit results (for instance, 6*2=12), you should combine those figures (1+2=3) and use the resulting figures further.
  • Once you have combined all doubled digits into one-digit numbers, add all of them.
  • Get back to your credit card number. Add up all the digits you ignored, including the last digit.
  • Eventually, you should add the two sums that you have got.

If you have got a zero as a result, then you have done everything correctly and your credit card number is valid.

If you have a credit card with 15 digits (such as a credit card from American Express), you should just start doubling with the second digit of a credit card number – all the other instructions are the same. Now you don’t just know what constitutes a valid credit card number, but also how to check whether a particular card number is valid.

What Is the CVV Code?

The CVV code is also known as the Card Verification Value and this code is displayed on the flip side of your credit card. You are likely to know this code because you are asked this code whenever you make purchases online. The CVV codes of the majority of credit cards are 3-digit codes (Visa, Mastercard, Discover), while American Express sticks to 4-digit CVV codes.

The CVV code is needed to provide to online merchants. This way you actually prove that you physically possess the credit card. You should never confuse your CVV code with a PIN code that you use when getting cash at ATMs – these are two different codes! Your PIN code is private and shouldn’t be told to anyone.

The CVV code is also known under other names. For instance, for some customers this code is also known as the Card Security Code, or simply CSC. Additionally, there is also a CVV2 code – that is the same card verification value code, but it was created by a second generation process. That presumably makes it more difficult to guess that code.

Also, we recommend you to look at our website’s section of our Credit Cards and look for a credit card that suits your needs best.

Top Credit Cards for Bad Debt

People with a poor credit score may experience problems with getting worthwhile credit cards. If you have your credit score below 700, you are unlikely to get any of these cards and enjoy their benefits. But there are some pretty good credit cards that you still can get, and this list of the top credit cards for bad debt will help you make your choice regarding which credit card suits your needs best. Enjoy the read!

The Discover It Secured Card

Top Credit Cards for Bad Debt

Annual fee: $0.

APR for purchases: 24.24% variable.

Credit card highlights:

  • This credit card allows you to build a credit history with a wise use of it.
  • You will receive a cash back on all purchases you will make.
  • Automatic review of your account 8 months after opening your account to see whether you are eligible to apply for a better credit card.
  • You will get free Social Security Number alerts.

This credit card from Discover is actually a good finding for everyone who has a poor credit history, and it is deservedly featured in this list of the top credit cards for bad debt. As a matter of fact, this card combines a zero annual fee, cash back on all purchases you make, and eligibility for it by almost anyone. That’s a pretty good combo for any person who has a low credit score.

Considering that this is a secured credit card, you will have to make a deposit from $200 up to $2,500. Your credit limit will be equal to your deposit. Regarding the cash back, you will have a limited quarterly 2% cash back on gas purchases and dining (limited to $1,000 per quarter). You will also get an unlimited 1% cash back on purchases from all other categories. Additionally, Discover also offers a welcome bonus – it will double the cash back you earned at the end of the first year.

Surprisingly, there are also other bonuses that you can get with this card. Once you have used this credit card for 8 months, the bank will start monitoring your history of payments. As soon as you will be eligible for updating for a better card, you will be notified about it by the bank. But expectedly enough, the APR of this card appears to be higher than the average.

All in all, this is a perfect credit card for anyone who wants to rebuild his/her credit history and even earn cash back rewards, which makes it one of the top credit cards for bad debt. On the other hand, we don’t recommend to apply for this card to those customers who have got used to carry a balance or who may seek an extended credit line.

Capital One Secured Mastercard

Best Credit Cards for Bad Debt

Annual fee: $0.

APR for purchases: 24.99% variable.

Credit card highlights:

  • The card can be managed 24/7 via a mobile app.
  • You can get a higher credit line after using this credit card for 5 months.
  • You will get a credit line of $200.
  • You will get useful tools for rebuilding your credit history.

And even though this credit card is not as close as good as the previous one from Discover, it is still deservedly included in the list of the top credit cards for bad debt. Like many other credit cards in this list, you will have to pay no annual fee for using this credit card. But, unlike the previous Discover card, you will not enjoy so useful perks and benefits.

Depending on your creditworthiness, you will have to make a security deposit of $49, $99, or $200 in order to get a credit line of $200. If you use this credit card responsibly, you will be able to build (or re-build) your credit history pretty quickly. After you have used this credit card responsibly for 5 months, you will be able to apply for a better credit limit. While the APR tends to be fairly high, this credit card appears to be among the best ones for the customers with a poor credit history.

AeroMexico Visa Secured Credit Card

top credit cards for poor credit score

Annual fee: $25.

APR for purchases: 22.9% variable.

Credit card highlights:

  • You will earn miles during your travels.
  • Your reward rate will be from 1.3% up to 2.8%.
  • The minimum deposit for this secured card is $300.

This is the only card in this list of the top credit cards for bad debt that charges an annual fee – $25. We recommend applying for this credit card only if you have no problems with paying your bills and making all necessary payments. If you are such a person, then applying for this secured card from AeroMexico may be beneficial for you.

This credit card can boast a pretty decent reward rate, which ranges between 1.3% and 2.8% and depends on how you spend your reward points – you will get the maximum reward if you will spend your points on groceries and gas. Besides, you will get 3,500 bonus miles when you make the first purchase with this credit card. Once you have applied for this credit card, it will come with a $99 certificate. But, one way or another, getting this credit card is worth only if you will spend at least $2,000 with this credit card – that’s the card’s breakeven point. Otherwise, we recommend you to choose something else from this list.

Discover it For Students

top credit cards for poor credit history

Annual fee: $0.

APR for purchases: from 14.24% variable to 23.24% variable.

Credit card highlights:

  • This credit card allows you to build a credit history with a wise use of it.
  • 5% cash back on quarterly rotating categories.
  • 1% cash back on all other purchases.
  • You will get free Social Security Number alerts.
  • Rewards for students who have their GPA score equal to 3.0 or higher.

This is just another top-notch credit card from Discover, which is deservedly included in this list of the top credit cards for bad debt. And while there are not many credit card options on the market for students, this Discover credit card – as it seems – has found its audience. Overall, this is one of the best low-end credit cards on the market.

After you have opened your student account at Discover and received this credit card, you will be able to enjoy a 5% cash back on various product categories (such as Amazon.com, groceries, restaurants, gas stations, etc.), which rotate every quarter. Additionally, you will also have your 1% cash back on all other purchases you will make. This tends to be pretty generous as for such a low-end credit card. At the end of the first year, Discover will double the cash back you earned during that year.

The other aspect of this credit card is that you may get a fairly low APR as for such a card – the APR of this card starts from 14.24%, which is quite a low indicator. Besides, this credit card allows you to enjoy the 0% introductory APR period during the first 6 months, which is another surprising thing about the Discover it Card for Students. What’s good about this credit card is that you will not be charged a late fee on the first late payment you will make.

There are also additional benefits of this credit card. You will get free social security alerts whenever you sign up on risky websites. You will also be able to freeze your account on and off in order to prevent unplanned purchases. Students who have their GPA score equal to 3.0 or higher will also enjoy a $20 cash back for as long as 5 years (the results are reviewed every year). The verdict is simple: if you are a student, we recommend you to rush for this credit card.

Citi Secured Mastercard Credit Card

top credit cards for bad credit history

Annual fee: $0.

APR for purchases: from 21.99%.

Credit card highlights:

  • This credit card allows you to build a credit history with a wise use of it.
  • Your initial deposit will be your credit line.

Unfortunately, this credit card from the Citibank doesn’t come with many benefits. The sole benefits of this card are the following ones: you can get it even if you have a low credit score, you have to pay a 0% annual fee. That’s literally all that this credit card can give to you.

Let’s look at it closer. The APR of this credit card is rather on a high side, and it doesn’t provide you with an introductory APR period. It doesn’t have any useful features you may take advantage of. Nor it offers cash back rewards. The credit line will be as big as your initial deposit.

And even though it was included in this list of the top credit cards for bad credit, we recommend applying for this credit card from Citibank only if you don’t have other options. Otherwise, we can only suggest you to look at the other cards, presented in this list of the top credit cards for bad debt.

You can also get to know more about cards from Citibank on this page.

How to Get a Credit Card With Poor Credit History?

It’s not the end of the world if your credit score is low, so you can’t apply for the most beneficial credit cards (like the cards presented in this list). This article will help you learn about how to get a credit card with poor credit history, which – despite being difficult – is still possible. Despite having a bad credit score, you still can get a pretty worthwhile credit card, and this article will just prove it to you.

Determine How Bad Your Score Is

You may think that you have a low credit score simply because you were previously refused to be given a loan or a credit card. But the word “low” is not enough – you need to know what your score exactly is. In other words, you need to find out how low is your credit score.

If you don’t know your current credit score, there are a couple of ways to do. First of all, you may have received your credit score by mail or email when you applied for a loan or a credit card last time. If you didn’t receive it then, there are other ways of identifying your credit score.

How to Get a Credit Card With Poor Credit History

In the first place, you may access the FICO website and find out your credit score right there. Also, you can get to know your credit score from any of the three credit bureaus. Additionally,  some banks allow their customers to access their credit score right in their apps or online. So, if you are a customer of such a bank (like Capital One or Discover), you can easily view your current credit score. After all, the websites like Quizzle, CreditSesame or CreditKarma will also provide you with your credit score.

How to Get a Credit Card With Poor Credit History?

Once you have found out how low your credit score is, you can actually start seeking how to get a credit card with poor credit history. Depending on how bad your credit score is, you may, for example, choose one of the credit cards presented in this article. Actually, having a low credit score is not a guarantee that you will have to use a credit card without any benefits.

For instance, you can apply for pretty worthwhile credit cards if you have your credit score in a range between 600 and 700. The above mentioned article contains several credit cards from Discover, which have no annual fee and a pretty good collection of benefits (such as cash back rewards, 0% introductory APR period, welcome bonus, and other features). This just shows that you can easily apply for such a card. If you have a score far lower, you may decide to apply for a City Secured MasterCard, which comes without any features at all.

But there are also other options, which, though, require you to pay an annual fee. For instance, that article features a secured credit card from AeroMexico, which tends to be a complete, worthwhile credit card for travelling. It comes with all bonuses that you may need for travelling: bonus miles for the purchases you make, a welcome bonus, and no foreign transaction fees. Though, there is a downside of this card: as it was mentioned, you will have to pay an annual fee. Yet, you still wonder how to get a credit card with poor credit history?

If you have somehow succeeded to get your credit score below 600, there is a way to get a credit card too. For instance, you can apply for a Capital One Classic Platinum Credit Card, which, reportedly, was given even to the people with a score as low as 587. Obviously, there are downsides of having this card: it comes with an annual fee of $39, the card’s APR is 22.9%, and there are no significant benefits. The important thing is that you are able to obtain a credit card with any credit score.

Things To Consider Before Getting a Credit Card With Poor Credit History

Before you will actually rush for a one of the above mentioned credit cards, you should consider a number of important aspects – they are not less important than the answer to the question on “How to Get a Credit Card With Poor Credit History?” This large section of our article will not just show you how to get a credit card with poor credit history, but will point to a large number of important things you should consider.

Paying a Deposit Is Necessary

Many customers tend to shun secured credit cards, i.e. those cards that require them to pay initial deposits. Such deposits are later used for processing credit card applications and securing them. In a result, that deposit will be used for paying the issuance fee of your card (if there is any) and as your credit limit.

There are several reasons why the customers prefer unsecured credit cards. First of all, they don’t have to pay anything to a financial corporation aforehand. Secondly, secured credit cards are usually associated with low credit limits. However, if you have a low credit score, you will get a card with a low credit limit anyway – even if that card is unsecured! Considering that many secured credit cards can be converted into unsecured ones just after a year of using a card, getting a secured card doesn’t seem that bad at all (Discover frequently offers the card holders of its secured card to update to a better card just 8 months after having used that card!).

how to get a credit card with bad credit score

If the problem is the money you will have to pay as a deposit, you can just save $50 per month. In a result, you will be able to get a secured card just within half a year. Keep in mind that having a secured credit card is better than having a prepaid debit card or no credit card at all. Only by using a credit card reasonably, you will be able to rebuild your credit history and get a solid credit card.

Don’t Apply for the Cards You Can’t Get Now

Indeed, many of the credit cards offered on the market may seem quite lucrative, but applying for them will be just a waste of time, money and patience. So, if you have found a beneficial credit card you may have a wish to apply for, we recommend you to check what is a recommended credit score for it and apply only if you match it. If you haven’t found what is a recommended credit score for that card, then we suggest you to check the KreditKarma.com website and read reviews about that credit card.

But if you have got to have a low credit score and you are seeking how to get a credit card with poor credit history, it is highly likely that you wouldn’t be eligible to receive a card with generous benefits. Actually, the number and quality of benefits a particular card provides directly corresponds with a required credit score. So, you must keep this in mind.

Your Poor Credit History Is Not Forever

And even though you may currently have a poor credit score and be looking for how to get a credit card with poor credit history, your bad credit score is not going to stay forever. That’s why you should approach this issue as something temporary that will change soon. For instance, you may be offered to update for a better card 8 months after using a secured credit card from Discover It. Many banks offer better cards just one year after using low-end cards.

Thus, as you can observe, there is nothing difficult if you have to use a low-end credit card temporarily. But in order to update for a better credit card, you need to use the existing card wisely: buy only the things you need, don’t carry a balance, always pay on time.

Other Things to Watch Out

When you have got to seek how to get a credit card with poor credit history, there are other things to watch out while looking for credit cards. For instance, we highly recommend you to stay away from subprime credit cards. The reason for that is that they often come with excessively high upfront fees – some of the banks reportedly charged even $80 and $90 fees. It is especially recommended to shun the cards from Credit One and First Premier.

Another thing to consider is the advertising of prepaid debit cards, which are often promoted as a good thing for people with a bad credit score. But the thing is that prepaid debit cards don’t improve your credit score. So there will actually be no meaning in having such a card, as you will not be able to qualify for a better credit card with generous benefits later.

Best Credit Cards 2018

As of the present time, there is a fairly impressive number of good credit cards on the market. This review of the best credit cards 2018 will help you get an insight about the most beneficial credit cards in 2018, allowing you to make your choice easier. Depending on your needs, this rating of the best credit cards may seem a bit different that you might have expected. But, one way or another, we recommend you to have a look at each credit card, presented in this list.

Chase Freedom Unlimited

Best Credit Cards 2018

Annual fee: $0.

APR for purchases: from 16.24% to 24.99% variable.

Credit card highlights:

  • No minimum to redeem your cash back rewards.
  • 0% introductory APR during the first 15 months on balance transfers and purchases. After this period ends, the balance transfer fee will be 5% with a minimum sum of $5.
  • Cash back rewards do not expire as long as your account is open.
  • You will receive a $150 bonus if you spend $500 on purchases in the first three months.
  • Automatic 1.5% cash back on all other purchases.

This credit card from the Chase bank appears to be among the best cards that don’t charge an annual fee. There are actually two things that make this credit card so outstanding: a solid cash back (which is quite unusual for “free” credit cards) and quite a long 0% introductory APR period on both purchases and balance transfers.

Let’s begin with the first reason. After you have opened the Chase Freedom Unlimited account, you can get a $150 welcome bonus if you succeed to spend $500 within within the first three months – while the bonus is quite generous, the sum you have to spend doesn’t seem so large. Besides, on all purchases you will make with this credit card you will receive 1.5% cash back, which tends to be among the highest cash back rates on the market. After all, cash back rewards do not expire (unless you decide to close your account), and this is another reason in favor of this card.

The 0% introductory APR period on both balance transfers and purchases makes this credit card a pretty good choice for covering your previous debts or make big purchases within the free APR period. All in all, Chase Freedom Unlimited is deservedly placed at the top of our list of the best credit cards 2018, and you can benefit from having this credit card quite much.

Bank of America Cash Rewards Credit Card

best credit cards in 2018

Annual fee: $0.

APR for purchases: from 14.24% to 24.24% variable.

Credit card highlights:

  • $150 welcome bonus after you spend $500 in the first three months after opening your account.
  • You will earn 3% cash back on gas (there is a limitation of $2,500 per quarter), 2% cash back on groceries and wholesale clubs, and 1% cash back on all other purchases.
  • There are no reward expiration dates and no changing categories.
  • You will get a 10% bonus if you redeem the cash back into your savings or checking account at Bank of America (this bonus can even be increased).
  • 0% introductory APR period on purchases during the first 12 months.

This credit card from Bank of America deservedly ranks high in our list of the best credit cards 2018. The most prominent reward of this credit card is a generous cash back, which stands at the level of 3% for gas purchases and 2% for purchases made at groceries and wholesale clubs. All other purchases are rewarded with 1% cash back. Keep in mind, however, that there is a quarterly limitation of $2,500 on gas purchases – if you exceed that sum, you will stop receiving a 3% cash back in the remaining days of that quarter. All rewards do not expire as long as your account remains open.

Same as the Chase Freedom Unlimited Credit Card, this card provides you with a welcome bonus of $150 if you succeed to spend $500 within the first 90 days. Additionally, you get a 0% introductory APR period on purchases during the first 12 months and a 0% introductory APR period on balance transfers during the first 60 days. All in all, this card tends to be a fairly good deal for the seekers of “no annual fee” credit cards.

Discover it Cashback Match

top credit cards 2018

Annual fee: $0.

APR for purchases: from 13.24% to 24.24% variable.

Credit card highlights:

  • You can get a 5% cash back in rotating categories every quarter, including such categories like Amazon.com, grocery stores, restaurants, gas stations, wholesale clubs, etc.
  • You will get a 1% cash back on all other purchases.
  • Intro offer from Discover: the bank will match the cash back you earned at the end of the first year.
  • Cash back rewards do not expire and can be redeemed any time.
  • You can use your rewards instantly at checkout at Amazon.com.
  • 0% introductory APR period on purchases during the first 14 months.
  • 0% introductory APR period on balance transfers during the first 14 months.

Among the best credit cards 2018, there should definitely be featured this credit card from Discover. And even though this Discover card offers not so generous cash back on all purchases you make as the previous cards, there still may be reasons to apply for this card. First of all, you will be able to enjoy a 5% cash back on some of the rotating categories – you can choose those categories each quarter.

Cash back rewards do not expire with this Discover credit card, and you can redeem the rewards you have earned anytime. You can also use them at Amazon.com checkout. At the end of the first year, the bank will match the cash back you earned automatically.

Another thing we recommend you to pay attention to is the 0% introductory APR period on purchases and balance transfers during the first 14 months. After that period expires, your APR will be from 13.24% to 24.24%, depending on your creditworthiness. If you have a good credit score, you are likely to receive quite a low APR, which is another benefit of this credit card.

Wells Fargo Cash Wise Visa Card

top credit cards in 2018

Annual fee: $0.

APR for purchases: from 14.24% to 26.24% variable.

Credit card highlights:

  • 0% introductory APR period on balance transfers during the first 12 months.
  • 0% introductory APR period on purchases during the first 12 months.
  • Get a $200 welcome bonus after you spend $1,000 within the first 90 days.
  • 5% unlimited cash back rewards on any purchases you make.
  • Your rewards do not expire as long as your account remains active.

This credit card from Wells Fargo is quite a good offer for anyone who seeks to receive a good cash back. Unlimited cash back at the rate of 1.5% tends to be quite a good offer among credit cards. The other reason why we added this card to our list of the best credit cards 2018 is the 0% introductory APR period on purchases and balance transfers, which you can enjoy during the first 12 months.

Additionally, you will receive a $200 welcome bonus if you spend $1,000 with this credit card during the first 90 days. And even though the sum to be spent is quite higher than the one of the first cards in this list, the offer still remains quite pleasant. You will get additional benefits (such as a $600 worth protection for your cell phone) if you will pay your bills by using this credit card. All in all, this is quite a worthy candidate to be present in this of the best credit cards 2018.

Capital One VentureOne Rewards Credit Card

premium cards in 2018

Annual fee: $0.

APR for purchases: from 13.24% to 23.24% variable.

Credit card highlights:

  • 0% introductory APR period on purchases during the first 12 months.
  • Receive a 20,000 miles welcome bonus ($200 in travel) after you spend $1,000 during the first 3 months.
  • Receive 1.25 miles for every $1 spent.
  • Travel without blackout dates.
  • No foreign transaction fees.
  • Miles do not expire as long as your account remains open.

Among the best credit cards 2018 present in this list, this card from Capital One tends to be the only one designed for travel purposes. And that really stands true, as all the benefits you get with this credit card are travel-related.

Let’s look closer at this card. You will enjoy a free intro APR period on purchases during the first 12 months. You will receive miles as a welcome bonus and for every purchase you make – the purchases shouldn’t necessarily be connected with travel. On the other hand, you will be able to spend the miles you receive only for travel-related purpose, and that makes the rewards to be quite insignificant. But, one way or another, this credit card doesn’t have foreign transaction fees and annual fees, which makes it to be a worthy candidate to be featured in this list of the best credit card 2018.

Besides, we also recommend you to find out more about the Best Buy Credit Card.

Barclays Credit Card

Barclays, a British multinational bank, is well-known across the globe. While the choice of simple and beneficial cards from this bank may be somewhat limited, it, nevertheless, offers some of the world’s premier credit cards. This review will help you get to know more about the Barclays credit card, as well as you will be able to assess whether this card is right for you. Enjoy the read!

Things You Need to Know About Barclays

Barclays, the full name of which is Barclays plc, is a British financial company that is headquartered in London, the United Kingdom. It provides various products in the spheres of wealth management, investment banking, commercial banking, and retail banking. Actually, this is one of the oldest financial companies, whereas it was founded in 1690.

As of 2017, the revenues of the Barclays bank exceeded £21 billion, while the net profit was slightly lower than £0.9 billion. The company employs slightly less than 120,000 workers. You can apply for a Barclays credit card in one of the offices of this financial corporation or online.

Types of the Barclays Credit Card

Even though there are quite many types of Barclays credit cards, not all of them are available to the new customers now. As it was pointed out above, Barclays is not that good at offering a solid variety of simple, low-end credit cards. On the other hand, this financial corporation offers pretty worthwhile credit cards for travelers.

Barclays Credit Card

In this Barclays credit card review, we will particularly explore two credit cards from this company: Barclaycard Arrival World Masterclass and Barclaycard Arrival Plus World Elite MasterCard. The first one is quite a good credit card that we may recommend to all travelers to apply for – you don’t have to pay any annual fee after all. At the same time, you will have to pay an annual fee for the latter credit card, but, exchange, you will enjoy a far greater number of perks.

And even though these two cards from Barclays differ in many aspects, there is a common feature of these cards: they are both perfect for travelers. Besides, each of the cards is quite generous in rewarding the customers for making travel-related purchases. But some purchases (such as buying train tickets or ordering a taxi) may barely be related to traveling, but you will still earn generous benefits!

Barclaycard Arrival World Mastercard

Annual fee: $0.

APR for purchases: 16.24% variable or 24.24% variable.

Credit card highlights:

  • Insurance of trip cancellation.
  • Travel accident insurance up to $200,000.
  • You get 2 miles for every $1 spent on dining and travel, 1 mile for every $1 spent on anything else.
  • You get 20,000 bonus miles if you spend $1,000 or more within the first 90 days after opening your account.

This Barclays credit card can deservedly be included in the list of the credit cards without an annual interest fee. While you don’t have to pay this annual fee, having the Barclaycard Arrival World Mastercard will bring an impressive number of benefits. The reason for that is simple: you get a perfect combo of no foreign transaction fees and no annual fees, while the rewards for traveling and dining out tend to be quite worthwhile.

The Barclaycard Arrival World Mastercard tends to be among the most favored credit cards of the customers, as they enjoy the return rate of somewhat between 1.05% and 2.1% on the purchases they make. This tends to be a pretty decent reward among the no annual fee credit cards, as, for instance, even the cards from the Chase bank offer no more than 1.5% of cash back. Thus, this Barclays credit card appears to be a fairly good option for those customers who spend less than $1,000 and/or who spend a large share of their money on dining and travel.

Back in 2015, however, Barclays made a significant change to this credit card, which left many customers unsatisfied. Then, the company made a bit harder to redeem the bonuses the customers accumulated: in order to redeem the bonus miles, one has to collect at least $100 in bonus miles. This makes barely possible to redeem the rewards for smaller purchases like taxi rides. But if you are okay with collecting at least $100 in bonus miles, they you may consider applying for this credit card.

When it comes to collecting rewards, Barclays tends to reward you with two bonus miles for every dollar spent on dining and travel and with one bonus mile for a dollar spent elsewhere. That’s a pretty good deal from a no annual fee from credit card. But you are able to benefit from these bonus miles even more: you will receive 5% of the bonus money back if you spend the bonus on the products/services of the travel-related categories. Luckily, the definition of travel-related categories by Barclays is broader than that of many other companies and including the following categories:

  • Cruise lines
  • Ferries
  • Discount travel sites
  • Motels
  • Buses
  • Trains
  • Limousines
  • Travel agencies
  • Hotels
  • Campgrounds
  • Timeshares
  • Taxi
  • Car rental agencies
  • Airlines.

Additionally, you can earn even more bonus miles if you apply for this Barclays credit card. For instance, you will receive as many as 20,000 bonus miles if you succeed to spend $1,000 or more within the first 90 days after opening your account. Though, fees, cash advances and balance transfers are not included in this $1,000 sum. If you redeem this bonus on travel-related purchases, it will be equal to around $200 – that leaves you with a pretty good 20% cash back rate on the first $1,000 spent. That is why we recommend you to apply for this Barclays credit card before embarking on your next journey.

Another thing this credit card is valued for is that this credit card from Bayclars comes without an annual fee and a foreign transaction fee. This makes this budget credit card pretty perfect for using abroad. You will not just enjoy the travel rewards this credit card brings, but will also make your transactions without additional fees. Considering that many credit cards have a foreign transaction fee as high as 3%, this benefit of the Barclaycard Arrival World Masterclass tends to be quite important for travelers.

Barclaycard Arrival Plus World Elite MasterCard

Annual fee: $89 (free during the first year).

APR for purchases: 17.24% variable, 21.24% variable or 24.24% variable.

Credit card highlights:

  • You get 40,000 bonus miles if you spend $3,000 or more within the first 90 days.
  • No foreign transaction fees.
  • 0% introductory APR period on balance transfers that were made in the first 45 days after opening your account.
  • Bonus miles don’t expire as long as your account is active and open.
  • You will earn twice as many bonus miles on the purchases you make.

This flagship Bayclays credit card tends to be among the most attractive credit cards on the market for travelers. Even though it underwent significant changes in 2015, it still remains one of the top travel credit cards. Considering that the definition of travel-related categories by Barclays is quite broad and that you will get a 2.1% reward rate, this credit card is, indeed, worth your attention.

One of the most obvious advantages of this Barclays credit card is its 2.1% high reward rate. For instance, the flagship credit cards from Chase will offer you not more than a 1.5% reward rate on the purchases you make. You will get 2 bonus miles for every $1 you spend anywhere. Additionally, you will be able to enjoy a 5% redemption dividend if you spend your bonus miles on travel-related purchases. And while Barclays recently excluded some categories from this list, the number of travel categories at Barclays remains to be the highest than that of the other credit cards.

Among other notable features of this Barclays credit card, you will get a $400 bonus (40,000 bonus miles) if you spend $3,000 within 90 days after opening your account. This bonus alone provides a compensation for more than 4 years of the card’s annual fees! So if you are going to spend that large sum anytime soon, we highly recommend you to apply for this Barclays credit card.

Similar as with the previous credit card from Barclays, you won’t be able to use your collected bonus miles unless you collected at least $100. This makes it a bit inconvenient, as you will not be able to use them for small purchases like bus tickets, but rather on airline tickets and hotel bookings. And while the bonuses of this credit card seem to be pretty generous, many customers feel it’s not worth enough paying an annual fee of $89.

Conclusion

You need to have a credit score somewhat between 720 and 850 in order to apply for a Barclays credit card, but, if you are eligible, it is worth doing so. Applying for the Barclaycard Arrival World MasterCard is worth for sure, as the credit card brings a pretty good number of worthwhile benefits. Actually, this card appears to have the highest reward rate among the credit cards without annual fees.

If you tend to be a big spender, on the other hand, you may consider applying for the flagship credit card from Barclays. And while there are some worthwhile benefits of this card, it may feel not enough to catch up its $89 annual fee.

Virgin Credit Card

Virgin, the official name of which is Virgin Group Ltd., is a British multinational company that was founded by Sir Richard Branson. Considering how huge is the scale of this company, it shouldn’t be surprising that it offers several types of credit cards to its clients. This article will help you find out more about the Virgin credit card, as well as you will learn about the cards’ advantages and drawbacks.

Things You Should Know About Virgin

Virgin Group Ltd. is a large British conglomerate that owns more than 400 companies. The company operates on a global scale and offers the following products and services: travel, retail, radio, music, mobile phones, jewelry, internet, healthcare, films, consumer electronics, commercial spaceflight, commercial aviation, books, and banking. Considering how many services this company offers, it is natural that having a Virgin credit card may be quite beneficial for you.

­­In 2016, the company’s revenues exceeded $13.20 billion. The number of the workers employed by Virgin exceeds 71,000. In order to apply for a Virgin credit card, you should visit the closest office of this company or, which is more convenient, you can do it online.

Types of the Virgin Credit Card

Virgin Credit Card

Virgin, indeed, offers a large number of credit cards to its customers, so you will be able to choose something that really suits your needs. While we will only slightly describe what are the main types of the Virgin credit cards in this section, below we will look at each of the cards in detail. So, there are the following types of the Virgin credit cards:

  • Virgin Purchase Credit Cards. These credit cards from Virgin are tailored for people who want to enjoy the rewards from making daily purchases. Besides, this type of Virgin credit card is also good for building a good credit history. These cards would be equally useful if you decide to make a big purchase or spend your money on travelling. As of the present time, Virgin offers 4 types of customizable purchase credit cards.
  • Virgin Balance Transfer Credit Cards. These types of Virgin credit cards are good for those people who pay interest on their other credit cards and want to lower it. If you are looking for a card simply for making purchases, it would be better to apply for a Virgin Purchase Credit Card. Typically, Virgin Balance Transfer Credit Cards come with a free promotional period and 0% APR on balance transfers.
  • Virgin All Round Credit Cards. The name of these cards is pretty self-explanatory, and these Virgin credit cards would be equally useful for making purchases or transferring balances. These credit cards from Virgin typically give you the option to choose either a special financing period for making large purchases or transferring your debt. Typically, these credit cards also give you a 0% introductory APR period for purchases.
  • Virgin Money Transfer Credit Cards. This type of Virgin credit cards typically offers to the customers to transfer money from a new credit card to the existing credit card for a low rate. Typically, that is done with the purpose to cover a large overdraft. Additionally, some of such Virgin credit cards offer quite a long no interest period on the sum that was borrowed.
  • Virgin Atlantic Credit Cards. These credit cards from Virgin are tailored for people who often fly and want to convert it into some free flights, discounts, or flight upgrades. There are two types of such credit cards, and you will get to know about them lower.

Virgin Purchase Credit Card

Annual fee: £0.

APR for purchases: 19.9% APR after the 0% introductory purchase period ends.

Network: Mastercard.

Credit line: up to £1,200.

Financial offers: 0% APR on purchases during the first 28 months.

As it was pointed out above, this Virgin credit card would be perfectly suitable for anyone who frequently make purchases and want to enjoy a 0% APR period on purchases. This Virgin credit card would be a perfect choice, as it offers you 28 months of the 0% APR period on purchases! After that introductory period expires, the APR will be as high as 19.9%, which appears to be a market average.

Among other benefits of this credit card from Virgin, there is a 0% introductory APR period on balance transfers for 18 months. Besides, you will enjoy the equally long 0% introductory APR period for money transfers. Though, while the balance transfer fee appears to be 2%, the money transfer fee tends to be equal to 3%.

In addition to all that, you actually get a customizable credit card. For instance, you can choose a credit card with a design of the Manchester United football card and get additional bonuses. Moreover, there are 12 types of the designs of this Virgin Purchase Credit Card, and each of them comes with certain bonuses. In order to apply for this credit card, you need to be a UK citizen and have an annual income of at least £7,000.

Virgin Balance Transfer Credit Card

Annual fee: £0.

APR for purchases: 20.9% APR after the 0% introductory purchase period ends.

Network: Mastercard.

Credit line: up to £1,200.

Financial offers: 0% APR on balance transfers the first 35 months.

Actually, there are three types of Virgin Balance Transfer Credit Cards, which vary only in one parameter: how long is the 0% introductory APR period on balance transfers. There are the cards with the following intro periods available: 35 months, 32 months, and 30 months. After this period expires, the interest rate will be 20.9% (the same APR will be applied to money transfers and purchases).

There are also other benefits from getting this Virgin credit card. Actually, you also get a 3-month long 0% introductory APR period on making purchases and a 20-month long 0% introductory APR period on money transfers. However, there are fees that are applicable even during the introductory APR periods: a 2.50% fee on money transfers and a 2.80% fee on balance transfers. The criteria for applying for this credit card and various designs are same as for the previous Virgin credit card.

Virgin All Round Credit Card

Annual fee: £0.

APR for purchases: 18.9% APR after the 0% introductory purchase period ends.

Network: Mastercard.

Credit line: up to £1,200.

Financial offers: 0% introductory APR period on purchases, money transfers, and balance transfers for the first 27 months.

As it was previously mentioned, this Virgin credit card can be equally used for the purposes of balance transfers, money transfers, and purchases. Actually, you get a credit card with equally long 0% introductory periods on purchases, money transfers, and balance transfers – each of them is a 27-month long.

After those periods expire, however, you will have to pay an interest. The interest rates vary for each of those actions: 18.9% APR on purchases, 20.9% APR on balance transfers, and 22.9% on money transfers. The fees are applicable even during the introductory periods: a 2.90% fee on balance transfers and a 4 % fee on money transfers. The criteria you need to match in order to apply for this Virgin credit card and the number/variety of the card’s designs are same as of the first credit card.

Virgin Money Transfer Credit Card

Annual fee: £0.

APR for purchases: 20.9% APR after the 0% introductory purchase period ends.

Network: Mastercard.

Credit line: up to £1,200.

Financial offers: 0% introductory APR period on money transfers and balance transfers during the first 32 months.

This Virgin credit card would be perfectly suitable for everyone who seeks to transfer money or balance, as it provides you with 0% introductory APR periods on money and balance transfers. It is worth to note, however, that the 0% introductory APR period on purchases is just 3-month long. After each of those introductory periods expire, you will have to pay 20.9% APR for each of the services.

While this credit card from Virgin seems to be fairly good for transferring both money and balance, the situation seems a bit different. During the introductory period, you will have to pay fees for transferring your money or balance – and the fees on money transfers tend to be rather on the high side. While the balance transfer fee appears to be as low as 0.60%, the money transfer fee is quite high and equal to 4%.

Virgin Atlantic Credit Cards

As of the present time, there are two types of the Virgin Atlantic Credit Cards: the white Virgin credit card account and the black Virgin credit card account. Both of these cards offer bonuses to its customers for making flights, but the other rewards are different. The users will receive 1 club point for every £1 with a white credit card and for every £2 with a black credit card.

While the white credit card is more beneficial due to lower fees, the black credit card is aimed towards frequent travelers and allows them to collect more bonuses. Unfortunately, Virgin currently doesn’t accept new customers to its Virgin Atlantic Credit Cards.

Besides, you can also get to know more about the Amazon credit card.

Walmart Credit Card

Walmart, the full name of which is Walmart, Inc., is the largest American retailer, which is included in the Fortune 500 list. Walmart also tends to be among the most capitalized American companies. If you appear  to be a frequent shopper at Walmart, you can apply for a Walmart credit card and get a pretty solid number of benefits. This review will help you find out the benefits of this credit card, as well as about its advantages, disadvantages, and terms of use.

Things You Have to Know About Walmart

Walmart is a chain of supermarkets that serves customers worldwide, have more than 11,710 locations across the globe. The key product lines of this chain include grocery, party supplies, craft supplies, photo finishing, fitness and sporting goods, pet supplies, health and beauty, toys, jewelry, footwear, clothing, home improvement, home and furniture, movies and music, and electronics.

The company’s headquarters is located in Bentonville, Arkansas. The scope of this company can be expressed in the following figures: Walmart employs 1.4 million workers in the United States alone or 2.3 million workers worldwide (including the United States). As of 2017, its revenues equaled $485 billion, while the net income of the company exceeded $13.5 billion. You can apply for a Walmart credit card online or in-store. If you have decided to apply for the card in-store, you can locate the closest supermarkets of this chain with the help of this Walmart Near Me page.

Basic Information About the Walmart Credit Card

Annual fee: None.

Variable APR for purchases: 22.9% variable.

Credit card highlights:

  • Fraud protection.
  • Options of special financing periods.
  • Zero annual fee.
  • Spend $75 in one receipt and get $25 in credit.

In a pretty similar way as many other stores (such as Sears) do, Walmart also offers two credit cards to its clients: Store Branded Walmart Credit Card and Walmart MasterCard Credit Card. The store branded credit card is not connected to any major network (such as Visa or MasterCard), thus it cannot be used elsewhere except Walmart supermarkets. On the other hand, the MasterCard credit card from this company can be used wherever MasterCard cards are accepted – that’s pretty everywhere.

Walmart Credit Card

And even though anyone is eligible to apply for a Walmart credit card (any of those two cards), it doesn’t seem such a good offer from Walmart. While there are some noticeable perks that come with these cards, those benefits are nothing compared to what other credit cards offer. Even 1% cash back that you can get from the Toys R US credit card is far better than what Walmart offers. That is to say nothing of the 1.5% cash back on all purchases offered by the Chase Bank.

Applying for a Walmart credit card is good only for those people who have a poor credit history and who want to rebuild it. If you have a solid credit history, it would be better to skip reading this article and, instead, to look other, more beneficial credit cards in this section. It also must be pointed out that if you have got a Walmart credit card, you will actually be not eligible to apply for a Target credit card, while the latter tends to be far more beneficial.

Advantages of the Walmart Credit Card

And even though it was pointed out above that the Walmart credit card cannot boast such a great number of benefits, there are still reasons why you may consider applying for this credit card. This section of our review contains the top perks of this credit card, so you will get an understanding when applying for this credit card may be suitable. So, the advantages of the Walmart credit card are the following ones:

  1. You can apply for this Walmart credit card even if you have a credit score lower than 630. As it was already mentioned above, you may consider applying for this credit card if you have your credit score below 620. Otherwise, you are likely to find far better options than this credit card.

But if your credit history is quite poor, then you may apply for this Walmart credit card and use it as an opportunity to re-build your credit history. Considering that almost everyone is accepted by Walmart, that seems quite a viable option. And this opportunity is given to any citizen of the United States – you should not necessarily be Walmart’s regular customer.

How to re-build credit history? Well, there is nothing difficult if you a responsible person. Just make only the purchases you need with this Walmart credit card. Pay the money you used on time and in full. Never spend more than 30% of credit given to you. If you follow these steps, soon afterwards you will be able to apply for a far better and beneficial credit card.

  1. You can take advantage of pretty good gas deals. Once you have received a Walmart credit card, you can pay with it for gas at the Walmart gas stations. The company rewards all credit card holders with a reward rate of around 2%, though the rewards are somewhat restricted. But it’s the best deal you can get with such a low credit score – if you have a credit score of more than 700, you can apply for credit cards that offer from 3% to 5% rewards on gas purchases.
  2. You will be offered to take advantage of special financing options. There are options of mid- and long-term financing at Walmart. In order to qualify for this financing, you should download a coupon from the company’s website, print it, and bring it to the store along with your credit card. Once you have done, you will be able to apply for the financing options. These financing options allow to get zero interest financing for the following periods:
  • 6 months on purchases ranging from $150 up to $298.99.
  • 12 months on purchases ranging from $299 up to $428.99.
  • 18 months on purchases ranging from $429 up to $598.99.
  • 24 months on purchases that exceed $599.

If you fail to pay off the loan within the agreed period, you will have to pay the whole sum along with the interest, ranging between $16.99%, 19.9% and 22.9% (this depends on your credit history).

  1. You will receive 1% cash back on the purchases made anywhere. And even though the 1% cash back ratio is not so bad, it comes with some limitations. You will start collecting rewards only after you spend your first $500. Besides, the APR of the Walmart credit card is higher than the average, and, therefore, we recommend you to buy only the things you need with this credit card.

Drawbacks of the Walmart Credit Card

Considering that we recommend you to take on this credit card only if you have a poor credit history, it appears to be obvious that this Walmart credit card has a large number of disadvantages. This section of our Walmart credit card review contains the reasons why you may decide to stay away from this card. So, the drawbacks of the Walmart credit card are the following ones:

  • Quite high APR on purchases. If you decide to make purchases in credit or you don’t pay the money on time, you will have to pay quite a high interest rate. And even though it appears to be not higher than, for example, the APR of Kohl’s or Sears credit cards, we still recommend you to be careful with how you spend your money by using this credit card.
  • Inability to apply for the Target credit card. Once you have been approved and you have obtained a Walmart credit card, you will not be able to apply for a credit card from Target. Thus, if you are a frequent customer of the Target stores, we would recommend you not to pursue this credit card from Walmart – the Target credit card has far more bonuses to offer to you.
  • Many of the card’s bonuses come with limitations. Even though this credit card from Walmart still offers some worthy perks, they oftentimes come with limitations. For instance, you will start receiving rewards for purchases only after you spend the first $500. Or there are limitations on gas purchase rewards as well, and this is pretty annoying.

Conclusion

Based on what has been written above, it is logical to suggest applying for a Walmart credit card only if you want to rebuild your credit history. Once you have spent a few years on improving your credit score, you will be able to apply for a card with a far richer number of benefits. For instance, you may choose between different credit cards from the Citi or Chase banks. This way, our verdict is like this: apply for this credit card only if you can’t get anything better.

Toys R US Credit Card

Toys R US is the largest American specialized retailer of toys. And even though it recently faced numerous problems, credit cards issued by this retailer giant tend to be valued by the customers quite much. This article will help you find out insightful information about the Toys R US Credit Card. You will learn about the credit card’s advantages and disadvantages, as well as you will be able to assess whether you should apply for it.

Things You Should Know About Toys R US

Such a retailer as Toys R US was founded back in 1948 and, shortly after that, became a popular chain of shops that sold toys. As of the present time, the chain’s focus product lines include baby products, clothing, and toys. The chain’s stores can be found worldwide, while the number of stores operated by the company exceeds 698.

The company experienced the peak of its growth during the 1990s. Nowadays, Toys R US employs more than 64,000 workers. But the recent financial problems the company faced eventually led to the bankruptcy, which occurred in 2017. However, many of the company’s stores are still in operation. You can apply for the company’s credit card in any of the Toys R US stores, and you can find nearby stores of this chain by making use of this page.

Basic Information About the Toys R US Credit Card

Annual fee: $0.

APR for purchases: 26.99% variable.

Credit card highlights:

  • 8% cash back for purchases made in Toys R US and Babies R US stores.
  • 1% cash back for purchases made elsewhere.
  • An ability to choose a special financing period or a 15% off discount after opening the accounts.
  • The collected points can be redeemed for Toys R US certificates.

Unlike many stores that issue store branded credit cards that are not connected to major networks, the Toys R US Credit Card is connected to MasterCard, which means that you are able to use this credit card anywhere, not just in Toys R US stores. Similar as other store branded credit cards, however, the APR of the Toys R US Credit Card appears to be quite high, and this makes this credit card barely suitable for using credit funds.

Toys R US Credit Card

Yet, this credit card would be, indeed, quite suitable if you tend to shop frequently in the Toys R US and Babies R US stores. If you are not a frequenter to these stores, this credit card barely has any value for you. And even though this credit card rewards you with points even for the purchases you make outside the company’s stores, you will be far better off, for example, if you choose one of the credit cards from the Chase bank – they tend to offer quite bigger benefits for spending your money on purchases.

Advantages of the Toys R US Credit Card

Before you will make up your mind whether you want to get a Toys R US credit card, you should find out about its benefits and drawbacks. At this point of our article, we will uncover what are the main benefits. This way, you will be able to assess whether you need to apply for this Toys R US Credit Card. So, the main benefits of this credit card are the following ones:

  1. You get one of the best cash back rates on the market. As it was pointed out above, the Toys R US Credit Card is perfect for those people who shop in the stores of this chain at least a couple times per year. If you are a regular customer of this chain, then you should definitely apply for this credit card, as you will get an effective cash back of 8% for all purchases made in Toys R US and Babies R US stores.

Let’s look at this program in detail. Once you get this Toys R US Credit Card, you will be automatically enrolled in its cash back program. Effectively, you will earn 8 cents for every $1 spent in the company’s stores, which leaves you with a 8% cash back. They will be accumulated in a form of points, and you will get 2 points for every $1 spent in the Toys R US or Babies R US stores. Once you have accumulated 125 points, you can redeem them for Toys R US certificates: one $5 certificate is worth 125 points. Obviously, can use those certificates only in the stores of this chain.

Considering that the Toys R US Credit Card is a part of the MasterCard network, you can use this card elsewhere too. But the cash back rate for purchases made elsewhere than the Toys R US or Babies R US stores is much lower and equal to just 1%, i.e. 1 point for every $4 spent elsewhere. This makes this credit card barely suitable for making purchases elsewhere, as you are able to get, for example, at least 1.5% cash back (in cash, not certificates) if you opt to use credit cards from the Chase Bank.

Also, keep in mind that that the rewards expire in 1 year if they are not redeemed for certificates. After opening an account at Toys R US, you will have to optimize the points unless you want them wasted. Right after getting your account opened, you will have to choose one of the following options: receiving Reward Dollars each 2 weeks (and they will expire within 60 days) or saving the reward points until a certain sum is reached. But in any case, all reward certificates expire in 60 days after their issuance, so keep that in mind.

  1. You can get a pretty solid discount or a special financing period. Once you have opened your Toys R US account, you will be able to choose one of the following options: a special financial period (0% APR for purchases made on a certain day) or 15% discount on the first purchase. We recommend you not to shop at the Toys R US for a while before opening your account and, then, choose a 15% discount.

There are a couple of things to keep in mind, however. If you choose a 15% discount, there are certain product lines that are not included in this deal, including video game hardware, tablets, laptops, and similar products. Another thing to keep in mind is that this deal will be available only during the first purchase which must be done within the 90 days after opening the account.

  1. You can also enjoy additional benefits. After all, having a Toys R US Credit Card allows you to take advantage of extra benefits. For instance, you will be able to enroll your children in Geoffrey’s Birthday Club, and the kids will receive a card, a gift, and a call from Geoffrey on their birthdays.

You are also able to enroll in the Endless Earnings program. This will allow you to gain rewards for having your babies registered at the Babies R US. For instance, you will get 5% on the first $300 spent in this chain of stores and 10% on all other purchases that exceed the initial $300.

Drawbacks of the Toys R US Credit Card

Unfortunately, this credit card also comes with a couple of serious drawbacks, and you should be aware of them. This section of our article contains the most obvious disadvantages of the Toys R US Credit Card, and so you will be able to make your choice reasonably. So, the drawbacks of this credit card are the following ones:

  • Quite a low cash back rate on the purchases made elsewhere than the Toys R US stores. Unfortunately, 1% cash back is far below what many other credit cards can offer, and this makes this credit card barely competitive in this regard.
  • Bonuses can be earned by the customers who don’t have Toys R US credit cards. Even if you don’t have a credit card from Toys R US, you still can amass points (just you won’t enjoy the 8% rewards rate) or get your children enrolled in the Geoffrey’s Birthday Club.
  • You cannot redeem your rewards in any other way than for Toys R US certificates. Indeed, you will be able to get your reward only in a form of certificates, which, in turn, can be spent only in the Toys R US stores. This makes the company’s reward system pretty inflexible.
  • You need to have a good credit history in order to apply for the Toys R US Credit Card. Typically, applicants with a credit score ranging from 620 to 710 or higher are accepted.

Conclusion

In view of the written above, it would be reasonable to sum up that this credit card is suitable only for people who shop at Toys R US stores at least 20-30 times per year. This credit card can boast to have one of the best cash back rates, but the rewards are inflexible and quickly expire. The card can be used only for making purchases in the Toys R US stores – otherwise, it loses all its value.

Tesco Credit Card

Tesco, the full name of which is Tesco plc, is a British merchandise and grocery retailer, which tends to be one of the largest retailers in the world. Considering that this retailer is a multinational and is present in many countries, it shouldn’t be surprising that this company also tends to offer its own store branded credit cards. This article will help you find out more about the Tesco credit card, so you will be able to assess the risks, advantages and drawbacks of this credit card. Enjoy the read!

What Is Known About Tesco?

Tesco plc tends to be one of the largest retailers in the world, whereas it was founded almost a hundred years ago. The company was founded in London, England, but nowadays the company’s headquarters is located in Welwyn Garden City. The company sells grocery and merchandise products in three types of stores: superstores, hypermarkets, and supermarkets.

Across the world, Tesco has more than 6,550 stores. The number of employees who work for this company nowadays exceeds 476,000. The revenues of this company exceeded more than $77 billion in 2017. In the same year, the profit of the company exceeded $1.75 billion. You can apply for a Tesco credit card in the stores of this chain or on the company’s website, online.

Types of the Tesco Credit Card

As of the present time, Tesco has 6 different types of credit cards on offer. All of those cards are quite different in terms of their features, rewards and purposes. While some cards can be applied for by the customers with low credit scores, premium cards come (typically) with an annual fee but abound with rewards. In our article we will strive to uncover the features and specialties of every of these cards.

Tesco Credit Card

But, regardless of which card you will apply for, it is needed to point out that one should apply for a Tesco credit card only in one case: if one tends to be a regular customer of this chain of stores. Otherwise, it would be better to apply for other credit cards, as the market abounds with them and there are definitely credit cards with better conditions (such as the credit cards from the Chase bank, for example). But if you wish to get a Tesco credit card, proceed below and find out which credit card you need! You have to keep in mind, however, that you can have only 1 Tesco credit card, so make your choice wisely.

Tesco Purchases Credit Card

Annual fee: £0.

APR for purchases: 18.9% variable.

Credit card highlights:

  • $0 introductory APR period on purchases during the first 29 months.
  • 0% introductory APR period on balance transfers during the first 3 months.
  • Approval/refusal for a card within a minute.
  • You can manage this Tesco credit card with your mobile app.

This credit card tends to be the most basic Tesco credit card, but it also tends to be among the most popular credit cards from this company. One of the main benefits of the Tesco Purchases Credit Card is, indeed, the 0% introductory APR period for the first 29 months, during which you can make any purchases at Tesco in credit without having to pay interest. An extra benefit of this credit card is that you also get an ability to make balance transfers during the first 3 months for free!

There are a couple of things to warn about before you apply for this credit card. First of all, you should have a good credit history in order to get 29 months of the 0% introductory APR period – otherwise, that period may be shortened for quite much. Also, you must earn at least £5,000 per year and be a citizen of the United Kingdom in order to apply for this Tesco credit card.

On the other hand, this Tesco Purchases Credit Card, apart from allowing you to benefit from the 0% introductory APR period, also allows you to amass points. You will receive 1 point for every £4 spent in Tesco stores and 1 point for each £8 spent elsewhere. Later, you will be able to exchange them on discounts at Tesco or restaurant vouchers.

Tesco 0% Balance Transfer Credit Card

Annual fee: £0.

APR for purchases: 19.9% variable.

Credit card highlights:

  • 0% introductory APR period on balance transfers in the first 22 months.
  • 0% introductory APR period on purchases in the first 22 months.
  • 0% interest on money transfers in the first 12 months.
  • 0% fee on balance transfers in the first 3 months.
  • Can be managed via the Tesco mobile app.

While having the average APR variable of the market and a zero annual fee, this Tesco credit card appears to be among most favorable credit cards for balance transfers. During the first 90 days after opening the account, the customers will be able to make transfers without fees and interest. Once that period passes, the fee of 3% on all balance transfers will be applied – an average market fee.

Among other benefits of this credit card, one should especially stress its ability to accrue points. Similar as with the previous Tesco credit card, one earns 1 point for every £4 spent in Tesco stores and £8 spent elsewhere. Though, it is worth to point out that the APR variable is slightly higher than of the previous credit card.

Tesco Premium Credit Card

Annual fee: £150.

APR for purchases: 19.94% variable.

Credit card highlights:

  • 94% cash withdrawal APR.
  • Can be managed online.
  • You can receive rewards in points and vouchers (same stands for the cards mentioned above).
  • Travel-related benefits are available.
  • You can accrue points quite faster than with any of the previous credit cards from Tesco.

This Tesco credit card is quite expensive, whereas you have to pay an annual fee of £150. Besides, you must have an income of at least £25,000 per year in order to apply for this credit card. On the other hand, all of this can be compensated by a variety of useful features and deals you can take advantage of.

First of all, you can collect the points much faster with this Tesco Premium Credit Card, whereas you will receive 1 point for every £1 spent in Tesco stores. Later, you will be able to exchange them for vouchers, such as the vouchers from Virgin Atlantic, Avios, Café Rouge, Pizza Express, Odeon, Cineworld, and many other companies. You can amass as much as 5,000 points within a single year, if you spend £5,000.

Having this credit card also gives you worldwide travel insurance for free, if you are aged under 70. All your family members who are aged under 70 also get this travel insurance. Thus, this Tesco credit card may be a good choice for passionate, active travelers.

Tesco Low APR Credit Card

Annual fee: £0.

APR for purchases: 5.9% variable.

Credit card highlights:

  • Beneficial, market average APR.
  • 0% introductory APR period on purchases and balance transfers during the first month.
  • Can be managed via a mobile app.
  • You can amass points.

As you could expect, the main advantage of this Tesco credit card is quite a low APR. If you opt for this card, you will be able to finance your purchases thanks to a competitive APR. Actually, very few stores offer credit cards with so beneficial APR.

This credit card from Tesco also allows you to collect points. Same as with ordinary credit cards from Tesco, you will receive 1 point for every £4 spent in Tesco stores and for every £8 spent elsewhere. If you have a good credit history and you want to benefit from a low APR, this card may be quite suitable for you.

Tesco Money Transfer Credit Card

Annual fee: £0.

APR for purchases: 18.9% variable.

Credit card highlights:

  • 0% introductory APR period on balance transfers in the first 36 months.
  • 0% introductory APR period on purchases in the first 3 months.
  • 0% interest on money transfers in the first 12 months.
  • 0% fee on balance transfers in the first 3 months.
  • Can be managed via the Tesco mobile app.

This Tesco credit card is also quite a good one for making balance transfers. If you do transfer money in the first 90 days after opening the account, you will pay no fees or interest. After the introductory period ends, the balance transfer fee and money transfer fee will be equal to 2.69% and 3.94% accordingly. If you have not that good credit history, the introductory balance transfer period may be lowered up to 30 or 24 months. It can also accrue points.

Tesco Foundation Credit Card

Annual fee: £0.

APR for purchases: 27.5% variable.

Credit card highlights:

  • £1,200 assumed credit limit.
  • Good for re-building your credit history.
  • Can be managed via a mobile app.

This credit card would be suitable for frequent Tesco shoppers who have a damaged credit history. Apart from it, there are actually very few advantages of this Tesco credit card. The only and sole purpose of this card is to let you rebuild your credit history, so you should apply for this credit card only if you don’t have another option.