American media company U.S. News unveiled Wednesday, Dec 14, the winners of its first-ever Best Credit Cards Awards for 2020. The event, which aims to recognize the top card choices in eight popular card categories, ended with Capital One® Venture® Rewards Credit Card winning three awards and BankAmericard® credit card with two.
“When it comes to selecting a credit card, consumers have hundreds of options to choose from and several factors to consider in determining whether a card is right for them,” said Beverly Harzog, consumer finance analyst and credit card expert at U.S. News, in a press release. “The 2020 U.S. News Best Credit Cards Awards give special recognition to cards that are best in their class and provide our readers with even more tailored information to help them make informed decisions.”
“To get the most value from a card, choose the rewards or features that benefit you the most,” she added.
On the night of the award ceremony, Capital One® Venture® Rewards Credit Card was recognized to be the Best Airline Credit Card, while the BankAmericard® credit card is the Best Balance Transfer Credit Card. Along with them, The Business Platinum® Card from American Express also secured the Best Business Credit Card title and Discover it® Cash Back got the Best Cash Back Credit Card award.
Capital One® Venture® Rewards Credit Card was also awarded the Best Rewards Credit Card, while the Discover it® Student Cash Back got the Best Student Credit Card. To complete the categories, Capital One® Venture® Rewards Credit Card seized the Best Travel Rewards Credit Card, while the BankAmericard® credit card secured the Best 0% APR Credit Card title.
According to the post, winners were said to have been determined based on “a comprehensive, data-driven methodology” that included a variety of factors, including reward rates, sign-up bonuses, introductory and ongoing APRs, as well as annual, foreign transaction, and balance transfer fees.