The Best Credit Card Offers of 2012

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With 2012 in full swing, it seems like a good time to review the best credit card offers available. Owning the right credit card(s) that fit your spending habits is not only the responsible thing to do, but also the smart thing to do.  Credit Cards get a bad rap sometimes, especially when you start to see the fees and interest piling up. But the best credit card offers include cards that award cash back, points and miles, and even 0% APR introductory rates, all for little to no annual fee and somewhat low interest rates.

Spanning many different credit card issuers, we’ve compiled a long list of the best credit cards available today, current as of May 2012.  If you own a credit card, or are considering an application to a card you don’t see featured on this list, let us know by leaving a comment below and we’ll be happy to see if it deserves a spot on our list. 

Consumer Credit Cards

Citibank

Citi® Simplicty® Card – The ultimate balance transfer credit card, the Citi Simplicty Card offers a 0% intro APR on purchases AND balance transfers for a full 18 months on balance transfers* months, with a very low 3% balance transfer fee ($5 minimum). Once the intro rate expires, this card has an 12.99% – 21.99%* variable APR and only good credit is required to obtain this credit card. Even though you won’t find a rewards program with the Citi Simplicity Card, it does offer discounts on select purchases and does not carry an annual fee. Of all the cards on our list, the amount of money you stand to save by transferring a balance is the greatest with the Citi Simplicity Card.

Citi® Dividend Platinum Select® Visa® Card – $100 Cash Back – Another top notch cash back card, the Citi Dividend Platinum Select Visa Card – $100 Cash Back gives a $100 cash bonus after making $500 in purchases in the first three months of card ownership. Similar to a few other cards on our list, this card offers 5% Cash back on select merchants through Citi Bonus Cash Center and 1% cash back on all other purchases. A pretty awesome 0% intro APR on purchases and balance transfers is provided for 12 months with the Citi Dividend Platinum Select Visa Card – $100 Cash Back and this card has no annual fee.

Chase

Chase Freedom® Visa – $100 Bonus Cash Back – The Chase Freedom Visa – $100 Bonus Cash Back offers a flat 1% cash back on all purchases with the opportunity to earn 5% cash back on rotating categories every three months. If you’re a user of the Chase merchant website, you can also earn an additional 10% cash back when you shop online at select merchants through Chase. The Chase Freedom Visa – $200 Bonus Cash Back makes its true mark by offering consumers a $100 cash back bonus after spending just $500 in purchases during the first three months. All of these rewards come to you free of charge, as this card carries no annual fee.

Slate® from Chase – A truly unique credit card, Slate from Chase opens up by offering a 0% intro APR on purchases and balance transfers for 15 months. Also included is Blueprint, a feature provided by Chase that allows cardholders the ability to pay off any purchase and track their interest and spending habits. Slate from Chase has no annual fee but does not include a standard rewards program like other Chase cards found below.  But what really sets this card apart is that there is no balance transfer fee.

Chase Sapphire^SM Preferred Card – If up front bonuses are your thing, you won’t find a better offer than what the Chase Sapphire Preferred Card brings to the table.  Cardholders earn 50,000 bonus points after spending $3,000 in the first three months, good for a $500 statement credit or $625 worth of travel (because when you book travel using your points, they’re worth 25% more).  2 rewards points are earned for every dollar spent on travel and dining, 1 reward point for every dollar spent on all other purchases and cardholders earn a 7% dividend bonus at the end of the year.  So if you earn 10,000 points in 2012, you’ll receive a 700 point bonus!  The Chase Sapphire Preferred Card does have a $95 annual fee, waived for all first year cardholders.

Discover

Discover® More® Card – Balance Transfer Fee* – Balance transfers are a great way to save a ton of money on interest and the Discover More Card – Long Duration Balance Transfer currently offers the longest 0% rate around.  Cardholders receive a 0% intro APR on balance transfers for 18 months and on purchases for six months, with a 3% balance transfer fee.  If you need to make purchases, this card also includes a great rewards program, offering 5% cash back on rotating categories throughout the year and 1% cash back on all other purchases (after $3,000 is spent annually).  The Discover More Card – Balance Transfer Fee* has no annual fee.

Discover® More® Card – This card offers a pretty strong deal for balance transfers, offering a 0% intro APR for 15 months with a small 3% BT fee.  A 0% intro APR on purchases for 15 months is included and the Discover More Card also offers 5% cash back on rotating categories throughout the year and 1% cash back on everything else (after $3,000 is spent annually.  Before that, 0.25% cash back is earned).  Once again, this Discover Card has no annual fee.

Discover® Open Road Card – $150 Restaurant.com Gift Certificate – Should you be spending a lot of money on gasoline every month, a gas rewards credit card like the Discover Open Road Card – $150 Restaurant.com Gift Certificate should do nicely in your wallet.  Cardholders receive 2% cash back on gasoline and restaurant purchases for the first $250 they spend each month and 1% cash back on those and all other purchases thereafter.  Again, however, Discover applies a 0.25% cash back rate to the first $3,000 spent annual in the “all other purchases category” so be aware when your statement comes.  The Discover Open Road Card – $150 Restaurant.com Gift Certificate also includes a $150 Restaurant.com gift certificate after making just one purchase, a 0% intro APR on purchases and balance transfers for 12 months and no annual fee.

American Express

Blue Cash Everyday℠ from American Express – Another top cash back credit card, the Blue Cash Everyday from American Express offers 3% cash back at supermarkets, 2% cash back on gasoline and department store purchases and 1% cash back on everything else.  There is no limit to the amount of cash that can be earned and cash can be redeemed in amounts of $25.  The Blue Cash Everyday from American Express also includes a $100 cash back bonus after spending $1,000 in eligible purchases in the first 3 months and a $25 referral bonus if you recommend this card to a friend. This card offers a 0% intro APR on purchases for 12  months, depending on the applicants credit history and has no annual fee, which is rare for American Express.

Starwood Preferred Guest® Credit Card from American Express – Regarded as one of the best travel rewards credit cards, the Starwood Preferred Guest Credit Card from American Express stars off with a bang, awarding 25,000 bonus points.  10,000  after making a purchase and another 15,000 when you spend $5,000 in the first six months, which is good enough for up to 6 free nights at a category 1 or 2 Starwood Hotel.  2 points are earned for every $1 spent on Starwood hotels, 2 points for every $1 spent on all other purchases and an additional 1 points for every $1 spent when you achieve gold or platinum status.  The Starwood Preferred Guest Credit Card from American Express does have a $65 annual fee, happily waived the first year.

Capital One

Capital One® Venture℠ Rewards Credit Card -The combination of vikings and Alec Baldwin has done well for Capital One and the Venture line of products and the Capital One Venture Rewards Credit Card is an excellent travel rewards credit card for any consumer.  10,000 bonus miles are earned after spending $1,000 during the first three months of card ownership with 2 miles per dollar on every purchase, every day.  Because this card is issued by Cap One, international purchases can be made fee free.  The last benefit of the Capital One Venture Rewards Credit Card is that the $59 annual fee is waived the first year.

Pentagon Federal Credit Union

PenFed Premium Travel Rewards American Express® Card – PenFed continues to dazzle credit union members with their array of credit cards and the PenFed Premium Travel Rewards American Express® Card is the best of the best.  20,000 bonus points are earned after spending just $650 during the first three months with complimentary concierge service and the chance to earn VIP airport access after spending $15,000 annually.  5 rewards points are earned for every dollar spent on airfare and 1 reward point is earned for every dollar spent on all other purchases.  The PenFed Premium Travel Rewards American Express Card offers a low 13.99% variable APR and carries no annual fee.

PenFed VISA Platinum Cashback Rewards Card – This card screams gas rewards by offering 5% cash back on all gasoline purchases, with no tier limits or spend amounts of any kind.  1% cash back is also earned on all other purchases and the PenFed VISA Platinum Cashback Rewards Card and if you need to make a balance transfer, you can do so for only 4.99% APR for 24 months.  No annual fee is associated with this card and depending on how solid a credit history you have, the initial card limit can be as high as $50,000.

Business Credit Cards

Chase

Ink Cash℠ Business – If a small business credit card is what you’re after, the first stop you need to check out is the Ink Cash Business.  A $250 statement credit is earned after when you spend $5,000 in the first three months. 5% cash back is earned on office supplies, landlines, wireless and cable service purchases (all for the first $25,000 spent annually), 2% cash back on gas and dining purchases (again, for $25,000 spent annually) and unlimited 1% cash back on all other purchases.  The Ink Cash Business includes a 0% intro APR on purchases for six months and allows businesses to use the card without paying an annual fee.

American Express

SimplyCash® Business Card from American Express OPEN – SimplyCash is a great name to describe this card as a lot of it’s benefits come in the form of cash back for business owners.  The SimplyCash Business Card from American Express OPEN offers 5% cash back on wireless and office supply purchases, 3% cash back on automobile gasoline and 1% cash back on everything else.  10% can automatically be saved on routine office purchases like FedEx shipping and Hertz rental car services and all of this is possible without an annual fee.  Quite the bargain.

The Plum Card® from American Express OPEN – The best small business card in terms of cash back opportunity, the Plum Card from American Express OPEN doesn’t have a standard rewards program, but does allow for 1.5% cash back to be earned on all purchases.  That comes in the form of a discount if you pay your balance in full within 10 days of your statement.  This is a charge card, meaning balances are due in full each and every month anyway, so paying it off early reaps quite the reward.  The The Plum Card from American Express OPEN also allows cardholders to make payments in 60 days, rather than the standard 30, but includes a sizable annual fee of $185, which is waived for all first year cardmembers.

Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

Published or updated May 12, 2012.