The Best Card

Mr. Brain, I am considering signing up with one credit card company. Is there one particular card that you would recommend above all others?

Thanks, Moose B.

Moose,

A Visa or MasterCard is probably your best option. They provide the most versatility since they are accepted by more merchants than the others. However J.D. Power and Associates surveyed over 7,600 consumers to reveal that cardholders are most satisfied with American Express cards (783 out of 1,000), followed by Discover cards (751). This survey was based on interaction; billing and payment process; fees and rates; reward programs; and benefits and services.

For Canadian cards a couple of good resources for determining the best card for your needs are:

http://www.creditcards.ca/

http://www.chargecards.ca/

For the U.S., according to Consumer Reports October issue, the list of the best and worst credit cards is as follows:

BEST LOW COST

1.       Capital One Platinum Prestige

2.       American Express Clear

3.       Iberiabank Visa Classic

BEST CASH BACK

1.       Capital One No Hassle Cash Rewards

2.       Chase Freedom Visa

3.       Discover More

BEST GAS CARDS

1.       Chase PerfectCard MasterCard

2.       Discover Open Road

3.       Hess Platinum Visa

WORST CREDIT CARDS

1.       First Premier Bank

2.       HSBC American DreamCard

3.       New Millennium Visa/MasterCard

 

Hopefully that is more helpful than it is confusing,

Brain

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