What are the top credit card companies?

top credit cardsAccording to the consumer ratings website J. D. Power and Associates, the two leading credit card providers are American Express and Discover. This is based on consumer reviews of their overall happiness with the providers.

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For great information on how to avoid credit card debt and use your new credit card to help build your credit score, go to sites like Suze Orman’s and financial magazines such as SmartMoney.

Why are these two providers rated higher than others?

These two providers rated highest with J. D. Power and Associates for many reasons. First, the terms of their credit cards are excellent. Many credit card providers have great credit card offers at first glance, but when you take a closer look there are hidden fees and higher interest rates.

In addition, these providers are known for handling their customer service much better than other providers handle. Good customer service is very important for a long and happy relationship with your credit card provider. Even if your card has excellent terms, if you are constantly in some type of battle with your provider, it will not be worth it.

What is an example of an American Express credit card?

top credit card companiesThe entry-level credit card offered by American Express is the Green card. This card is a rewards credit card that gives the cardholder certain perks that are exclusive to American Express cardholders. You have to have a very good credit score to be approved for an American Express credit card. Since the card has no preset spending limit people that get approved usually have fairly high annual incomes.

This card allows the cardholder to earn one reward point for every dollar they spend and two for every dollar when they book travel arrangements through American Express Travel. The cardholder has no limit to how many points they can earn in a year and their points will never expire.

The cardholder can redeem their points for many different types of rewards. If they choose to redeem their points for plane tickets, they do not need to worry about blackout dates or being limited to certain airlines. They can also choose to redeem their points for:

  • Car rentals
  • Cruises
  • Hotel stays
  • Travel excursions
  • Gift cards
  • Special merchandise
  • Cardholders can even donate their points to their favorite charities.

This American Express card helps the cardholder while traveling with more than just reward points. With this card, the cardholder has roadside assistance, baggage insurance, car rental loss and damage insurance, travel accident insurance, and access to the Global Assist hotline. This hotline lets the cardholder call anytime they are more than one hundred miles away from home for financial, legal, emergency, or medical help.

The cardholder does not have to worry about fraud when they have this credit card. All American Express cards offer credit card fraud protection return protection, extended warranties, purchase protection, and identity theft assistance.

What is an example of a Discover credit card?

The most popular Discover credit card is the Discover More card. This is a cash back credit card. This card offers the cardholder 5% cash back on certain purchases like restaurants, gas, and shopping at certain stores. All other purchases receive 1% cash back.

As all other cash back credit cards, the Discover More cardholder can choose to redeem their earned reward for cash. The cardholder can also choose gift cards, merchandise, or give the money they have earned to charity. The cardholder can also choose one of more than one hundred different designs for their Discover More card.

The cardholder will enjoy no interest rate on balance transfers of purchases for the first fifteen months the account is open. This is a really great offer considering most credit cards that offer an introductory interest rate only do so for the first six months to a year.

This long-term zero interest rate makes this a perfect choice for credit card balance transfers. If someone has a balance on another credit card with a high interest rate, they can transfer that balance to this credit card and not have to pay interest while paying down the balance for fifteen months. The cardholder will save a lot of money on interest, but they need to make sure they can pay off the balance in full before the zero interest period expires.

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Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!