FOSTER CITY, Calif.,
Nov. 24, 2020 /PRNewswire/
-- CardRatings.com today releases its picks for
the Best Credit Cards of 2021. The credit card ratings site was one
of the first to curate a Best Credit Cards list and has more
than 10 years of experience analyzing and ranking cards across
multiple categories. In-house credit card experts review and
analyze hundreds of cards on the market to create this annual
compilation intended to make it easier for consumers to find the
card that best meets their needs and lifestyle. This year's list
covers 11 distinct categories, ranging from cash-back rewards cards
to luxury cards to cards for rebuilding credit and many others. A
few of the picks include:
Best Credit Cards for 2021
- Best Flat-Rate Cash-Back Rewards – Citi® Double Cash Card
- Best for Families – Blue Cash Preferred® Card from American
Express
- Best General Travel Rewards – Chase Sapphire Preferred®
- Best Balance Transfer Offer – Citi Diamond Preferred
- Best Student Credit Card – Discover it® Student Cash Back
- Best for Small Business – Ink Business Preferred®
"We build the CardRatings Best of 2021 list by looking at two
sets of data," explains Brooklyn Lowery, the senior managing editor
for CardRatings. "First, we review the fine print details and
features of each credit card as they relate to similar cards; and,
for the second consecutive year, we consider the scores actual
cardholders gave in our credit card user survey. Both sets of
reviews have tremendous value for real-world cardholders. As
experts, we can help decipher and point out the details lay people
may not notice and real-world cardholders can score aspects like
customer service, how they actually use rewards, website usability
and more."
The ratings site polled more than 1,700 cardholders nationwide
on 77 different cards to determine their views on the cards they
use on a regular basis. The cards presented in the survey were
chosen by popularity from the CardRatings website analytics from
Jan. 1-Aug. 31, 2020, with additional
cards selected by experts as needed to create breadth in the
survey.
Notable Consumer Scores
- Scores for travel cards did not decline even though
travel is at a standstill
-
- Hotel and airline card preference did decline, but not as much
as expected
- Overall scores for student cards increased since last year
-
- Consumer scores for all other card types declined
- Business card scores decreased the most
-
- Scores dropped for all questions, but the biggest drop is from
the usefulness of the website/mobile app
- Card with highest overall score - Navy Federal Visa cashRewards
Card
- Issuer with highest score for rewards satisfaction - Luxury
Card (among two cards surveyed)
- Issuer with highest score for customer service - American
Express (among 14 cards surveyed from this issuer)
"While each score tells you something about the individual card,
it's important to note that we don't ask consumers to consider
these cards in relation to other credit cards, but instead think
about them as they exist in their own wallet and personal
finances," Lowery explains. "We, at CardRatings, do the work of
comparing one card against another to create our 'best of'
lists."
For instance, even though hotel and airline credit cards saw an
overall decrease, individual cards saw an increase. The Delta
Skymiles® Gold American Express Card saw an overall score
improvement of 5.6 points. Yet, the United ExplorerSM
Card declined overall by 4.4 points. Meanwhile, scores for travel
cards overall remain flat since last year, but some cards saw a
jump in preference scores such as the Mastercard® Black Card™ - up
7.7 points from last year. Conversely, the Chase Sapphire Reserve®
card saw the largest drop among travel rewards cards even though it
was the leading card a few years ago.
"The fact that travel rewards card scores were overall
unaffected by the decline in travel could indicate that cardholders
are confident in their ability to travel again soon and they are
banking rewards until that time. However, it could also be a
reflection of the steps many banks took during the pandemic to roll
out new features, rewards and benefits for these cards in an effort
to continue offering cardholders good value during an unusual
year," Lowery notes.
Readers can find the credit card scores under the User Scores
tab for each individual card that made the experts Best Credit
Cards of 2021 list. In the coming weeks, the scores for additional
surveyed cards will roll out along with associated reviews.
The main Best of 2021 compilation is just one of several "Best
credit cards" lists that CardRatings curates. Others offer more
nuanced choices under broad topics including "Best Cash-Back Credit
Cards," "Best Travel Rewards Credit Cards," Best Credit Cards for
Dining Out" and more.
Survey Methodology
CardRatings commissioned Op4G in
September and October 2020 to conduct
surveys among 1,746 cardholders nationwide. CardRatings website
analytics from Jan. 1,
2020-Aug. 31, 2020 were used to
determine a selection of the most popular cards and additional
cards were added to add survey breadth. Responses to each of nine
questions were given on a scale of 1-10 and respondents' scores
were then averaged under broad topics. To determine the overall
score, responses from questions 1-8 were summed and the answer to
"How likely are you to recommend this card to a friend, coworker or
family member?" was double weighted.
Ranking Methodology
CardRatings experts review the
fine print, details, perks, rewards and features of hundreds of
cards and compare them side-by-side with similar cards. A card that
makes an excellent balance transfer card may not make a great
cash-back rewards card even though it offers those rewards. While
the Best of the Year list is announced annually, that list – and
all other "best of" lists on CardRatings – are regularly reviewed
and updated as issuers change the terms and features of each card
often.
For the complete list and breakdown of the rankings and survey
analysis please visit the Best Credit Cards of 2021
Lowery is available for comment. She can expand on why certain
cards and categories saw declines in scores or, in some cases,
large jumps. Lowery is the resident credit card expert for
CardRatings and specializes in helping everyday credit card users
get the most out of their rewards.
About CardRatings
CardRatings is owned and
operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing
performance marketplace technologies and services to the FinTech,
financial services and home services industries. QuinStreet is a
pioneer in delivering online marketplace solutions to match
searchers with brands in digital media. The company is committed to
providing consumers with the information and tools they need to
research, find and select the products and brands that meet their
needs. CardRatings is a member of QuinStreet's expert research and
publishing division.
CardRatings innovated online credit card ratings and has been
offering independent ratings and reviews of credit card offers
since 1998. The website collects and maintains data on more than
700 credit card offers and carefully compiles objective lists of
the top credit cards by card type, making it easy for consumers to
find the right card to fit their needs. Sign up for the bimonthly
newsletter here.
Twitter: @CardRatings
Facebook: https://www.facebook.com/CardRatings
Media Contact
Amy
Eury
Public Relations Manager
412-532-9352
aeury@quinstreet.com
LinkedIn
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SOURCE CardRatings.com