Choosing a credit card is never easy, especially when there are so many options on the market. Credit card issuers now more than ever are all competing for consumers’ attention by using attractive reward and bonus programs. But how do people know which travel reward card is the best one to add to their wallet? Credit Karma, a personal finance company is here to help. Using their exclusive data, they crunched the numbers and came up with the Best Travel Credit Cards of 2013.
“Our goal was to compile the most unbiased list out there,” said CEO and founder Ken Lin. “We feel we did just that. Using our proprietary data we were able to give consumers the most transparent list of the best travel reward cards currently on the market.”
The key factors Credit Karma used in their ranking methodology include the following:
- Rewards Value: This is the estimated dollar amount of the rewards you get for every $100 spent using the card. The higher the number, the more bang for your buck.
- Average Credit Karma Review: What do cardholders really think of these cards? Credit Karma’s star rating gives you a good idea.
- Signup Bonus Value: A lot of cards come with signup bonuses, like free hotel stays or a bunch of airline miles. This factor weighs the actual value of the signup bonus each card offers.
- Average Score Approved: Based on Credit Karma’s historical approval data for each card, we took a look at the average credit score approved.
Each card was given an overall rating, which was used to rank the cards against each other and come up with the top three.
1. Barclaycard Arrival World MasterCard
2. Capital One Venture Rewards Credit Card
3. Citi Platinum Select AAdvantage World MasterCard
To see the rest of the metrics used to rank the cards and how each card faired in the different areas check out the Best Travel Rewards Cards of 2013.
About Credit Karma
CreditKarma.com provides more than 15 million consumers financial peace of mind by tracking their credit and finances all in one place for free. Credit Karma’s goal is to help its members make the most of their credit by offering insightful saving recommendations based on unique data comparisons. It also provides financial education and access to free tools, such as the free Credit Report Card and Card Statics, which empower consumers to take charge of their financial health. For more information, please visit www.creditkarma.com.