Our website 2.0 is finally online - we have been busy working on revamping our website in the last several weeks. As you may have noticed, the site's home page now shows a Top 10 Best Credit Cards list. The ranking was based on a comprehensive analysis considering four "P" factors - Promotions (signup bonus), Points (rewards earned through spending minus effective annual fee), Perks (travel benefits), and Protection (travel and consumer protection). If you are interested in a particular factor, our top recommendations for each "P" could also be found on each of the four pages.
How did we come up with the list? Each card is rated an individual score (0-100 points) for each of the four "P" factors, and then a final comprehensive score (also 0-100 points) is calculated by adding up all scores with the following weights for each factor: Promotion (15%), Points (55%), Perks (20%), and Protection (10%). Now we are copying the Top 10 list below and will also discuss our findings.
Top 10 Best Credit Cards by Dr. Credit Card (2016)
Honorable Mentions
Citi Prestige takes the #1 spot without too much of surprise, since it is not only highly rated in "Points" (#7 card for rewards) but also very strong in "Promotions", "Perks" (#3), and "Protection" (tied at #2). All other cards on the final Top 10 list all offer pretty strong rewards for spending. Amex EveryDay Preferred, the #1 card for rewards, comes down to #7 on the final list, due to relatively weak signup bonus, perks, and protection. Two excellent cash back cards - Citi Double Cash and Fidelity Visa, fall off the final Top 10 due to similar reasons. On the other hand, Chase Sapphire Preferred, United MP Club Visa, and United MP Explorer Visa, which did not make to the Top 10 Cards for Rewards, all make a strong come back to the #5, #7, and #8 spots on the final list, due to very strong performance in at least two of the three following categories: signup bonus, perks, and protection. JPM Ritz-Carlton Visa, the #1 card both in perks and protection, is way down the final list, as the rewards are poor. Amex Platinum, another strong performer in perks and protection, fails to make to Final Top 10 due to a similar reason.
© 2016 DrCreditCard.net All rights reserved.
How did we come up with the list? Each card is rated an individual score (0-100 points) for each of the four "P" factors, and then a final comprehensive score (also 0-100 points) is calculated by adding up all scores with the following weights for each factor: Promotion (15%), Points (55%), Perks (20%), and Protection (10%). Now we are copying the Top 10 list below and will also discuss our findings.
Top 10 Best Credit Cards by Dr. Credit Card (2016)
- Citi Prestige World Elite MasterCard
- Citi ThankYou Premier Card
- American Express Starwood Preferred Guest Card
- American Express Premier Rewards Gold Card
- Chase Sapphire Preferred Card
- American Express EveryDay Preferred Card
- Chase United Airlines MileagePlus Club Visa Signature
- Chase United Airlines MileagePlus Explorer Visa Signature
- Barclaycard Arrival Plus World Elite MasterCard
- Barclaycard Wyndham Rewards Visa Signature with $69 Annual Fee
Honorable Mentions
- Citi Double Cash Card (#1 cashback card)
- Elan Fidelity Rewards Visa Signature (#2 cashback card)
- J.P. Morgan Ritz-Carlton Visa Signature (#1 in perks and protection)
- American Express Platinum Card (exceptional perks and protection)
Citi Prestige takes the #1 spot without too much of surprise, since it is not only highly rated in "Points" (#7 card for rewards) but also very strong in "Promotions", "Perks" (#3), and "Protection" (tied at #2). All other cards on the final Top 10 list all offer pretty strong rewards for spending. Amex EveryDay Preferred, the #1 card for rewards, comes down to #7 on the final list, due to relatively weak signup bonus, perks, and protection. Two excellent cash back cards - Citi Double Cash and Fidelity Visa, fall off the final Top 10 due to similar reasons. On the other hand, Chase Sapphire Preferred, United MP Club Visa, and United MP Explorer Visa, which did not make to the Top 10 Cards for Rewards, all make a strong come back to the #5, #7, and #8 spots on the final list, due to very strong performance in at least two of the three following categories: signup bonus, perks, and protection. JPM Ritz-Carlton Visa, the #1 card both in perks and protection, is way down the final list, as the rewards are poor. Amex Platinum, another strong performer in perks and protection, fails to make to Final Top 10 due to a similar reason.
© 2016 DrCreditCard.net All rights reserved.
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