But which ones are worth signing up for and using?
MyBankTracker.com, a website to educate consumers, names Target’s REDcard, Kohl’s credit card and Amazon’s Visa as worthwhile credit cards.
The REDcard, the website says, is worthy because it has no annual fee and gives card holders a 5 percent discount on their purchase every time the card is used. It also means free shipping on online purchases and an extra 30 days for returns. The downside, the site says, is 22 percent APR.
Kohl’s credit card also has no annual fee and gives cardholders monthly discounts from 15 to 30 percent off. It carries a 22 percent APR.
Amazon.com Rewards Visa was noted for its point system. Users earn three points for every dollar spent at Amazon.com, two points per dollar at gas stations, restaurants and drugstores and one point per dollar on all other purchases. The points can be redeemed for discounts on Amazon.com purchases, cash, gift cards and travel. Its APR ranged from 13 percent to 21 percent depending on the card holder’s credit history.
In other card news, PayPal has come out with a prepaid Mastercard that allows consumers to load money onto the card so they can shop online without using a regular credit or debit card. The cards are available at CVS, Rite Aid, and Dollar General Stores.
Which credit cards would you add to MyBankTracker.com’s list?