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S90.04A SOA Project Delivery & Methodology resources | http://babelouedstory.com/
S90.04A resources - SOA Project Delivery & Methodology Updated: 2024
Exam Details:
- Number of Questions: The exam consists of approximately 40 multiple-choice questions.
- Time: Candidates are given 60 minutes to complete the exam.
Course Outline:
The S90.04A SOA Project Delivery & Methodology exam focuses on assessing professionals' knowledge and skills in delivering Service-Oriented Architecture (SOA) projects using effective methodologies. The course covers the following topics:
1. SOA Project Planning and Management
- SOA project lifecycle
- Project planning and estimation
- Resource allocation and scheduling
- Risk management in SOA projects
2. Service-Oriented Analysis and Design Methodology
- Requirements gathering and analysis
- Service modeling and specification
- Service contract design and documentation
- Service-oriented design principles
3. Service-Oriented Development Methodology
- Service implementation and coding standards
- Service testing and quality assurance
- Service deployment and integration
- Continuous integration and delivery in SOA
4. Service-Oriented Governance and Change Management
- SOA governance framework and processes
- Service versioning and backward compatibility
- Change management in SOA projects
- Service portfolio management
Exam Objectives:
The exam aims to assess candidates' understanding and proficiency in the following areas:
1. SOA project planning and management techniques
2. Knowledge of SOA analysis and design methodologies
3. Ability to apply effective development practices in SOA projects
4. Understanding of SOA governance and change management principles
Exam Syllabus:
The exam syllabus covers the following topics:
- SOA Project Planning and Management
- SOA project lifecycle
- Project planning and estimation
- Resource allocation and scheduling
- Risk management in SOA projects
- Service-Oriented Analysis and Design Methodology
- Requirements gathering and analysis
- Service modeling and specification
- Service contract design and documentation
- Service-oriented design principles
- Service-Oriented Development Methodology
- Service implementation and coding standards
- Service testing and quality assurance
- Service deployment and integration
- Continuous integration and delivery in SOA
- Service-Oriented Governance and Change Management
- SOA governance framework and processes
- Service versioning and backward compatibility
- Change management in SOA projects
- Service portfolio management
SOA Project Delivery & Methodology SOA Methodology resources
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SOA
S90.04A
SOA Project Delivery & Methodology
https://killexams.com/pass4sure/exam-detail/S90.04A Question: 90
Individual(s) assuming the ____________ role for an agnostic service will often
assume the role of ____________ because both roles require familiarity with the
service logic, the service's usage constraints, and the service's functional context.
A. service architect, service custodian
B. service analyst, governance specialist
C. service architect, service registry custodian
D. service analyst, service registry custodian Answer: A Question: 91
A regular service profile will generally document information about a service on the
following two levels:
A. service and capability
B. service and repository
C. service and inventory
D. service and enterprise Answer: A Question: 92
Which of the following types of information are generally documented as part of a
service profile?
A. policies related to the service
B. service compositions the service participates in
C. the delivery status of the service
D. the custodian(s) of the service Answer: A, B, C, D Question: 93
Service profile documents often end up forming the basis of service registry records.
A. True
B. False
30 Answer: A Question: 94
Which of the following statements makes sense?
A. The service profile was initially created by the service analyst and finalized by
the service developer.
B. The service profile was initially created by the service developer and finalized by
the service registry custodian.
C. The service profile was initially created by the service analyst and finalized by the
technical communications specialist.
D. None of the above. Answer: C Question: 95
A service profile may indicate that different service capabilities are assigned to
different service custodians.
A. True
B. False Answer: A Question: 96
A service catalog is a collection of ____________ for the services belonging to a
____________.
A. service registry records, service composition
B. service profile information, service inventory
C. service registry records, service composition
D. service profile information, service accessory Answer: B Question: 97
31
Following the completion of the service development and service testing lifecycle
phases for a new service, the ____________ and ____________ can become part of
the service profile.
A. technical service contract, service accessory
B. service level agreement, service accessory
C. service registry record, service accessory
D. None of the above. Answer: D Question: 98
Which of the following statements is false?
A. Service profiles may be refined by a technical communications specialist.
B. As services move from candidate to physical design, it is important to
consistently document them usingstandardized service profiles.
C. Service profiles may be standardized differently within different domain service
inventories.
D. The use of service profiles is least effective when combined with a standardized
vocabulary or taxonomy. Answer: D Question: 99
Which accurately describe the relationship between a service profile and a service
registry record?
A. Service registry record is the name used to distinguish a service profile once its
associated service is deployed.
B. The service profile and the service registry record are always the same document.
C. Service profiles and service registry records can contain similar types of
information. However, their formats are often different because the service registry
record format is usually dependent upon the specific service registry product being
used.
D. A service registry record often contains a subset of the information found in a
service profile due to the application of the Service Abstraction principle. Answer: C, D
32 Question: 100
Which of the following items might be contained in the service-level profile, as
opposed to the capability-level profile?
A. a description of the service capability
B. a description of the service's overall purpose
C. a service capability's input and output values
D. details of a service capability's role within a service composition Answer: B
33
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It’s only natural that companies invest in business software solutions to bring about growth in their organisation. But in times of uncertainty, the narrative is around doing more with less, how to increase productivity and efficiency through automation, and how to get better control of supply chains. We see how one company is doing just that Continue Reading
Fri, 21 Aug 2020 05:19:00 -0500entext/htmlhttps://www.computerweekly.com/resources/Service-oriented-architecture-SOALean Six Sigma: Definition, Principles, and Benefits
What Is Lean Six Sigma?
Lean Six Sigma is a team-focused managerial approach that seeks to Improve performance by eliminating resource waste and defects.
It combines Six Sigma methods and tools with the lean manufacturing/lean enterprise philosophy. It strives to eliminate the waste of physical resources, time, effort, and talent while assuring quality in production and organizational processes.
Simply put, Lean Six Sigma teaches that any use of resources that doesn't create value for the end customer is considered a waste and should be eliminated.
Key Takeaways
Lean Six Sigma seeks to Improve employee and company performance by eliminating the waste of resources and process/product defects.
It combines the process improvement methods of Six Sigma and lean enterprise.
Lean Six Sigma helps to establish a clear path to achieving improvement objectives.
The Lean strategy was established by Toyota in the 1940s and attempts to streamline operational processes, from manufacturing to transactions.
Six Sigma originated in the 1980s and seeks to Improve output quality by reducing defects.
Understanding Lean Six Sigma
Lean Six Sigma is a combination of Lean methodology and Six Sigma strategy. Lean methodology was established by Japanese automaker Toyota in the 1940s. Its purpose was to remove non-value-adding activities from the production process.
Six Sigma, on the other hand, was established in the 1980s by an engineer at U.S. telecommunications company Motorola who was inspired by Japan's Kaizen model. It was trademarked by the company in 1993. Its method seeks to identify and reduce defects in the production process. It also strives to streamline the variability of the production process.
Lean Six Sigma emerged in the 1990s as large U.S. manufacturers attempted to compete with Japan's better-made products. The combination strategy was introduced by Michael George and Robert Lawrence Jr. in their 2002 book Lean Six Sigma: Combining Six Sigma with Lean Speed.
Companies can arrange for Lean Six Sigma training and certification from a wide selection of organizations that specialize in the approaches of Lean Six Sigma and Six Sigma.
The Lean Six Sigma Concept
The lean concept of management focuses on the reduction and elimination of eight kinds of waste known as DOWNTIME, an acronym formed by the words defects, overproduction, waiting, non-utilized talent, transportation, inventory, motion, and extra-processing. Lean refers to any method, measure, or tool that helps in the identification and elimination of waste.
The term Six Sigma refers to tools and techniques that are used to Improve manufacturing processes. The strategy attempts to identify and eliminate the causes of defects and variations in business and manufacturing processes.
Six Sigma's DMAIC phases are utilized in Lean Six Sigma. The acronym stands for define, measure, analyze, improve, and control. It refers to the data-driven five-step method for improving, optimizing, and stabilizing business and manufacturing processes.
A Lean Six Sigma approach that combines Lean strategy and Six Sigma's tools and techniques highlights processes that are prone to waste, defects, and variation and then reduces them to ensure improvement in a company's operational processes.
Lean Six Sigma Techniques
The techniques and tools used to accomplish essential goals of the Lean Six Sigma strategy include:
Kanban: Workflow management practices, such as work visualization and limited work in progress, which maximize efficiency and promote continuous improvement.
Kaizen: Practices that engage employees and promote a work environment that emphasizes self-development and ongoing improvement.
Value stream mapping: Analyze places to eliminate waste and optimize process steps.
5S tool: Method to ensure that the workplace is efficient, productive, safe, and successful.
JIT
Lean Six Sigma Just-In-Time (JIT) training allows employees to focus resources on what customers need, when they need it, rather than building up unnecessary inventory.
Lean Six Sigma Phases
The DMAIC phases of Lean Six Sigma are Define, Measure, Analyze, Improve, and Control. They are used to identify and Improve existing process problems with unknown root causes.
Define
Define the problem from a company perspective, stakeholder perspective, and customer perspective. Figure out the quality expectations that customers have and the extent of the problem.
Measure
Examine the current process and how it contributes to the problem. Determine whether the process can meet the previously defined quality expectations of customers. Match each process step to your quality criteria. Support your measurements with real performance data.
Analyze
Examine all information gathered thus far to finalize the exact nature of the problem, its scope, and its cause.
Improve
Solve the problem and verify the improvement. Collaborate to structure a solution that eliminates both the problem and its cause. Use your data to ensure that the solution fits the issue at hand. Test the solution and derive performance data to support it.
Control
Monitor improvement and continue to Improve where possible. Finalize acceptable performance criteria. Establish a plan that can deal with variations that occur, sustain improvements, and prevent a reoccurrence of the original problem.
DMAIC works best when used to solve a problem relating to a process, quality, or waste issue in an organization.
Lean Six Sigma Belt Levels
Lean Six Sigma training uses Belts to denote Lean Six Sigma expertise. The exact specifications for each Belt may differ depending on what organization provides the certification.
Belt Level
Meaning
Reports To...
White
Understands the meaning and goals of Lean Six Sigma, knows the terms associated with the methodology.
Green or Black Belts
Yellow
Understands essential Lean Six Sigma concepts, tools, and techniques; can be part of project teams and receive Just-In-Time (JIT) training.
Green or Black Belts
Green
Has some expertise in Lean Six Sigma strategy; can launch and manage Lean Six Sigma projects and provide JIT training to others. Focuses on the use of tools and the application of DMAIC and Lean principles.
Black Belts
Black
Advanced Lean Six Sigma expertise; can be full-time, cross-functional project team leaders, as well as a coach or mentor to Green Belts. Responsible for putting Lean Six Sigma changes into place.
Master Black Belts
Master Black
Has extensive Lean Six Sigma expertise; typically responsible for the Lean Six Sigma initiative. Can act as coach or mentor and monitor projects. Works with company leaders to identify efficiency gaps and training needs.
C-suite executives
Benefits of Lean Six Sigma
There are a number of established benefits to Lean Six Sigma methods for employees, customers, vendors, and the company.
By increasing the efficiency of important processes, companies can Improve the work experience for employees and the customer experience for buyers. This can build loyalty inside and outside of a company.
Streamlined, simplified processes can increase control and a company's ability to capitalize on new opportunities quickly. They can also lead to more sales and revenue, lower costs, and more successful business results.
Involving employees in a group or a company-wide efficiency effort can Improve their skills (e.g., analytical thinking and project management), Improve their growth opportunities, and boost camaraderie. By preventing defects, companies save on the time, money, and human effort previously required to identify and eliminate them.
Lean Six Sigma vs. Six Sigma
Lean Six Sigma and Six Sigma are two related strategies that can solve process problems. Both can help companies make noteworthy improvements in quality, efficiency, and use of time by analyzing the way their processes function. Both use the DMAIC phases/method. Both are based on creating a problem-solving workplace culture.
However, Six Sigma is focused on reducing defects and process variability to Improve process output and quality to meet customer expectations. Lean Six Sigma is focused on reducing or eliminating the wasteful use of resources and defects to Improve workflow and create more value for customers.
Lean Six Sigma combines aspects of Six Sigma (such as data analysis) and aspects of the Lean methodology (such as waste-eliminating tools) to Improve process flow, maintain continuous improvement, and achieve business goals.
What Is the Meaning of Lean Six Sigma?
Lean Six Sigma is a process improvement strategy that seeks to eliminate inefficiencies in a company's process flow by identifying the causes of waste or redundancy and developing solutions to address them.
What Are the 5 Principles of Lean Six Sigma?
Define, measure, analyze, improve, and control are the five principles and phases of Lean Six Sigma. They're the steps practitioners take to create more efficient processes and a workplace culture that's focused on continuous improvement.
Why Is Lean Six Sigma Important?
Many consider it important for the measurable and consistent improvements in operations and business results that companies achieve using it. It also might be considered important because it combines the significant process streamlining of the Lean methodology of the 1940s with the Six Sigma data-driven approach of the 1980s.
What Is Lean Six Sigma Training?
Lean Six Sigma training instructs students in the basics of Six Sigma methodology, as well as the Six Sigma DMAIC roadmap. Students also learn how to apply the concepts in practical scenarios as they go through the courses.
How Much Does It Cost to Get Lean Six Sigma Training?
The cost of Lean Six Sigma Training varies depending on whether you take courses online, taught by a virtual instructor, or in-person, as well as the level of belt you are pursuing. A one-day White Belt training can range from $99 to $499. An eight-day Master Black Belt training costs $4975 for both in-person and live virtual training. A three- to four-day course in Lean Fundamentals ranges from $1300 to $2000 or $399 to $774 for an online training.
The Bottom Line
Lean Six Sigma is a management approach and method that endeavors to eliminate any wasteful use of resources plus defects in production processes so as to Improve employee and company performance.
It draws on the Lean concept of the 1940s established by Japan's Toyota to reduce waste and the Six Sigma strategy of the 1980s established by U.S. company Motorola to reduce defects.
By combining these teachings, Lean Six Sigma puts the best of both to work to streamline efficient operations and financial outcomes for all kinds of organizations.
Wed, 13 May 2015 02:27:00 -0500entext/htmlhttps://www.investopedia.com/terms/l/lean-six-sigma.aspDepartment of MethodologySun, 16 Aug 2020 04:44:00 -0500en-GBtext/htmlhttps://www.lse.ac.uk/methodologyBirth Control Resource Center
What Families Should Know About the New OTC Birth Control Pill
The first over-the-counter birth control pill will hit U.S. stores early next year, which gives parents, teens, and their doctors time to decide how it could affect their lives. And the decisions are not always simple.
Fri, 07 Aug 2020 09:32:00 -0500entext/htmlhttps://www.webmd.com/sex/birth-control/default.htmThe Matrix Method for Literature Reviews
What is the Matrix Method, and why should I use it?
Using a review matrix enables you to quickly compare and contrast articles in order to determine the scope of research across time. A review matrix can help you more easily spot differences and similarities between journal articles about a research topic. While they may be helpful in any discipline, review matrices are especially helpful for health sciences literature reviews covering the complete scope of a research syllabu over time. This guide focuses on the review matrix step in the literature review process and offers tips on how to use it effectively.
Organize your sources
Once you complete your research, organize your source by date in order to make it easier to see changes in research over time.
Begin by creating the blank matrix. The matrices can be easily constructed using table-making software such as Microsoft Excel, Word or OneNote, Google Sheets, or Numbers. Every review matrix should have the same first three column headings: (1) authors, title, and journal, (2) publication year, and (3) purpose.
Be aware that it may be difficult to determine purpose from just a cursory review of the article. In some cases, it may be necessary to first read the paper fully to identify its purpose.
Choose your remaining column topics
Next, carefully read all your articles. Note any important issues you identify. The following broad categories provide some suggestions for determining your own subject headings:
Methodological
Methodology is often an important question. For example, if you are looking at tests of an Ebola vaccine beyond human subjects, it will be important to note what type of animal the test was carried out on, i.e. macaques or mice.
Content-specific
Consider noting what was actually studied. For example, when looking at the effectiveness of traditional Chinese medicine in the treatment of illnesses, it would be important to note what illness was being studied.
Geographical
It may be important to note where the research was completed. For example, if you want to compare the effects of the AIDS epidemic in different countries, you would use country as a column heading.
There are many ways to choose your column headings, and these are just a few suggestions. As you create your own matrix, choose column headings that support your research question and goals.
Tips
Do not include column headings that are explicit in your research question. For example, if you are looking at drug use in adolescents, do not include a column heading for age of study participants. If the answer will be the same for every study, it's generally a bad choice for a column heading.
Do not try to fully complete a review matrix before practicing the articles. practicing the articles is an important way to discern the nuances between studies.
Credit: Adapted from David Nolfi, “Matrix Method for Literature Review: The Review Matrix,” Duquesne University, https://guides.library.duq.edu/matrix, 2020.
Mon, 17 Jan 2022 18:14:00 -0600entext/htmlhttps://www.brandeis.edu/writing-program/resources/faculty/handouts/matrix-method-literature-reviews.htmlHere are the best free budgeting tools of 2024
Understanding how much you earn and spend is key to getting control of your finances.
Taking the time to write down your expenses and earnings will provide you a snapshot of your cash flow each month. Not only does creating a budget provide you a greater sense of control and awareness over your money, but it can also help you reach certain financial milestones, such as buying your first home.
Depending on your needs, there's a budgeting tool out there that can guide you. To help you get started, CNBC Select reviewed and compared a variety of different free budgeting tools. When choosing our top five, we identified three types of budgeting tool categories: spreadsheets, desktop software and smartphone apps.
There's no one-size-fits-all approach to budgeting, and the picks we ranked reflect that. At the end of the day, it's important to choose the budgeting tool that works best for you.
These three categories (spreadsheets, software and apps) offer different approaches to tracking your money with varying degrees of how hands on you need to be. We narrowed down our best picks for just about anyone: beginners, investors and small business owners. The selections we chose all come at zero cost to use and have strong user reviews. (See our methodology for more information on how we choose the best free budgeting tools.)
Information about Google Sheets has been collected independently by Select and has not been reviewed or provided by Google Sheets prior to publication.
Cost
Standout features
Gmail account users can access a variety of free budgeting templates to help get started
Categorizes your expenses
Users manually input their expenses, but some budgeting templates offer preset categories
Links to accounts
No, but some templates offer third-party add-on software that automatically pulls financial transactions into Google Sheets
Availability
Offered on web browser and smartphone devices
Security features
Google server protection: Unless you've shared your Google Sheet with someone, nobody can access your files without your Gmail account username and password. For this, Google offers two-factor authentication and physical security keys like YubiKey
Pros
Free to use with your Gmail account
Google Sheets can be accessed from anywhere via the mobile app
Templates help users navigate making a budget
Hands-on approach forces users to really think about each transaction they make
Third-party add-on software available on some templates to import your banking transaction data
Security features include Google server protection
Cons
Requires users to manually input transactions and other data, unless third-party add-on software is available with template
Offers so many different budgeting templates that it may be overwhelming to choose the best one for you
Information about Goodbudget has been collected independently by CNBC and has not been reviewed or provided by Goodbudget prior to publication.
Cost
Get 20 envelopes for free; for unlimited envelopes, you need to upgrade to Goodbudget Plus, which is $7 per month or $60 per year
Standout features
Allows users to plan their household's spending using the "envelope method," where they allocate a certain amount of their income into categories like groceries, rent and debt payoff. Users are only supposed spend what's in their envelopes and if they go beyond their budget the envelope will show red to indicate that they overspent
Categorizes your expenses
Yes, but users can customize
Links to accounts
No, users manually create "envelopes" and input their transactions
Availability
Has a web-based version, and also offered in both the App Store (for iOS) and on Google Play (for Android)
Security features
256-bit bank grade encryption in a secure data center
Pros
Free to use for creating 20 envelopes, one account user on up to two devices, one year of transaction history, debt tracking and community support
Envelope feature allows user to visualize their spending and prioritize meeting different goals
Users can customize the envelope categories according to their needs, such as saving for an emergency fund or a vacation
Requiring manual entry of data helps users to really analyze their spending habits versus it being automated (users can also get their accurate activity from their bank’s website and import that into Goodbudget)
App provides real-time updates of how your transactions impact your budget and personalized reports
App offers educational resources like a blog, a podcast and online courses people can take
App plans to launch a pandemic-inspired feature allowing people to prioritize “envelopes” based on their most urgent expenses, such as housing, utility bills, etc.
Security features include 256-bit bank grade encryption in a secure data center
Cons
Costs $7 per month or $60 per year for unlimited envelopes with Goodbudget Plus, unlimited account users on up to five devices, seven years of transaction history, debt tracking and email support
Doesn't sync to your bank accounts or credit cards, which can be a downside for people who want automation
Requires that users use the “envelope method” to track their spending
Some user reviews report experiencing technical issues with the app
Information about GnuCash has been collected independently by Select and has not been reviewed or provided by GnuCash prior to publication.
Cost
Standout features
Desktop software that uses double-entry accounting method to tracks users' bank accounts, income, expenses and investments. It also offers basic accounting functionality for small businesses to manage invoicing, bill payment and payroll
Categorizes your expenses
Links to accounts
Allows users to import their bank account information
Availability
Compatible with Windows, Mac OSX, GNU/Linux, BSD and Solaris, as well as an app for Android users
Security features
GnuCash is not an online, cloud-based program so no one has physical access to your data; the software runs on your computer and your data lives wherever you store it, such as on your desktop, a hard drive or Dropbox
Pros
Free to use
Compatible with most computers
Good accounting option for startups and small businesses with limited budgets
Offers helpful data visualization of your budget with graphs and reports
Available in multiple languages and tracks multiple currencies
Website offers an extensive FAQ section for user support
Users can create recurring transactions and set reminders when things are due
Finder tool allows users to easily search for specific transactions
Security features include not being an online, cloud-based program
Cons
Double-entry accounting method used may be more helpful for small business owners versus individuals trying to manage a budget
Desktop software interface looks outdated
Free budgeting tool FAQs
What does a budgeting tool do?
Budgeting gets a bad rap for being a monotonous and tedious task, but it can also be a helpful way to understanding your spending habits. And a budgeting tool can make the process a lot easier if you find the right one for your needs.
That tool might be an already-formatted spreadsheet where you just plug in your transactions, or an app that auto-categorizes your spending for you.
Because different budgeting tools offer slightly different approaches to tracking your money, first decide how intentional you want to be. Hands-on methods, such as manually enter your transactions into a spreadsheet, may take more time, but the process can help you be more thoughtful about your spending.
You'll also want to decide if you want to pay for a budgeting tool. While the top-rated tools on this list come no cost to users, those who don't mind paying a premium have options for budgeting tools with more robust features. A popular choice is budgeting app You Need A Budget (YNAB), which offers a 34-day free trial then costs $84 per year, or $11.99 per month. Users can set goals, customize spending categories, plus get access to 100+ free educational workshops offered every week. (Learn more in the app's review.)
How do you create a budget?
Making a budget can be done in as little as five steps:
Calculate your net income: First, find out how much money you make each month (your cash inflow). Your net income is the amount of money you earn after taxes and can be found on the pay stub you receive through your employer.
List your monthly expenses: Next, you want to look at your monthly costs (your cash outflow). Common monthly expenses include rent or mortgage payments, utility bills, loan payments, insurance costs, transportation, child care, groceries, dining, household goods, travel, streaming subscriptions and memberships. Also include in this category your savings contributions, such as in a 401(k) or high-yield savings account.
Label the monthly expenses as fixed or variable: Go through your list of monthly expenses and now label each as a fixed (essential items) or variable cost (nonessential items). Examples of fixed costs are rent, utility bills, transportation, insurance, food and loan payments. Your dining, travel, clothing (beyond the basics), subscriptions and memberships are variable costs. This is an important step in the process because it helps you see where you can cut back if you need to.
Determine the average monthly costs for each expense: List how much you spend on each expense per month and add them all up. It's easiest to do this step while looking at your bank account and credit card statements from the past month.
Make adjustments depending on what your budget reveals: The final step in creating a budget is the most telling. This is when you compare your net income to your monthly expenses to see where you stand. If your expenses exceed your income, this means focus on finding line-items in your budget that you can remove or cut back spending on. On the other hand, if your income is higher than your expenses, reevaluate what you should be doing with those excess funds. They'll earn more interest in a high-yield savings account than your checking account. But you might also want to consider increasing your contribution to your 401(k), making bigger payments on your debt or investing for a future expense.
Once your budget is created, the bulk of the work is done and from then on you are just revisiting it to make tweaks as your spending habits or income change.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every budgeting tool review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of personal finance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best free budgeting tools.
Our methodology
To determine which free budgeting tools offer the best user experience, CNBC Select analyzed over a dozen different budgeting tools and looked at their features and user reviews.
We narrowed down our ranking by looking for at least one pick in each of the following categories: spreadsheets, desktop software and smartphone apps. We wanted variety in the ways users can build their budget, and we ranked each tool by who it is best designed for (anyone, beginners, investors or small business owners).
The five tools we selected for this ranking are all free and easy to use. For our selection, we also favored budgeting tools that have strong user reviews.
Other factors we looked at included the security features, user customization and illustrative data insight, such as graphs and reports, that are available.
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Sun, 31 Dec 2023 16:51:00 -0600entext/htmlhttps://www.cnbc.com/select/best-free-budgeting-tools/Debt Avalanche vs. Debt Snowball: What's the Difference?
Debt Avalanche vs. Debt Snowball: An Overview
The debt avalanche and the debt snowball methods are two strategies for paying down debt. With the debt avalanche method, you pay off the high-interest debt first. With the debt snowball method, you pay off the smallest debt first.
Each method requires you to list your debts and make minimum payments on all but one. Then, once the debt is paid off, you target another balance, and so forth, until you have paid down all your debts. Depending on your preferences and circumstances, you may prefer one method better once you understand the differences.
Key Takeaways
Debt avalanche and debt snowball are both types of accelerated debt repayment plans.
The debt avalanche method involves making minimum payments on all debt and using any extra funds to pay off the debt with the highest interest rate.
The debt snowball method involves making minimum payments on all debt, then paying off the smallest debts before moving on to bigger ones.
The debt avalanche method can result in paying less interest over time.
Investopedia / Nez Riaz
Debt Avalanche
The debt avalanche method involves making minimum payments on all your outstanding accounts and using any extra money to pay off the bill with the highest interest rate. Using the debt avalanche method will save you the most in interest payments.
Debt Avalanche Example
For example, say you have $3,000 extra to devote to debt repayment each month, and you have the following debts:
In this scenario, the avalanche method would have you pay off your credit card debt first because it has the highest interest rate. If you put your extra money toward that debt, you could pay off your remaining debt in 11 months, paying a total of $1,011.60 in interest.
In comparison, the snowball method would have you tackle the car loan first. You would become debt-free in 11 months but would have paid $1,514.97 in interest.
If you have significant amounts of debt, the avalanche method of targeting the highest interest rate debt can also reduce the time it takes to pay off the debt by a few months.
Debt Avalanche Pros and Cons
The debt avalanche method can save money and time, but it does have its downsides. It requires discipline to regularly put your extra cash into paying off a particular debt, not just the minimum. The debt avalanche strategy will not work as effectively if you lose motivation and drop it.
The debt avalanche approach also assumes a specific, constant amount of discretionary income you can apply to your debts. If your daily living expenses increase or emergency expenses arise, you may have to stop using the debt avalanche approach.
Pros
Reduces the amount of total interest you pay
Reduces the amount of time it takes to get out of debt
Good for budget-oriented people
Debt Snowball
The debt snowball method involves paying off the smallest debts first and then moving to bigger ones. It is a strategy in which you essentially tackle the easiest jobs first.
First, list all the outstanding amounts you owe in ascending order of size. Target the smallest one as the first one to pay off, then put your extra money toward those payments after you make all the minimum payments on all your bills.
Note
Another way you can pare back debt is to use a debt relief company. These companies can help you reduce the amount you owe by negotiating with creditors. If you use this strategy, make sure you use a reputable debt relief company,
Debt Snowball Example
Let's see how the snowball effect works when you have $3,000 extra to devote to debt repayment each month, and you have:
$10,000 credit card debt at an 18.99% annual percentage rate (APR)
$9,000 car loan at 3.00% interest rate
$15,000 student loan at 4.50% interest rate
The snowball method would have you focus on the car loan first because you owe the smallest amount of money on it. You'd settle it in about three months, then tackle the other two. As with the debt avalanche method, you'd become debt-free in about 11 months. However, you would have paid $1,514.97 in interest—about $500 more overall.
The advantage of the snowball method is that the feeling you get from paying a debt may help you stay more motivated to pay off another.
Debt Snowball Pros and Cons
The primary advantage of the debt snowball method is that it helps build motivation because you see faster results. With this strategy, you don't need to compare interest rates or APRs, only the amounts owed.
The largest drawback of the debt snowball is that it does not reduce the amount you pay in overall interest as much as the debt avalanche method.
Which Is Better, Debt Snowball or Debt Avalanche?
Whether the debt snowball or the debt avalanche method is better depends on your financial circumstances. In terms of saving money, a debt avalanche is better because it saves you money in interest by targeting your highest interest debt first. However, some people find the debt snowball method better because it can be more motivating to see a smaller debt paid off more quickly.
Should I Pay Off Big Debt or Small Debt First?
Ideally, you want to pay off the debt with the highest interest rate first to save the most money. But if you find that paying off small debts motivates you to continue working toward reducing debt, you may want to pay those off first instead.
Is It Better to Put Money in Savings or Pay Off Debt?
Paying off debt has advantages—especially if you're incurring a high interest rate that can compound quickly and put you further into debt. Getting rid of debt will Improve your credit score, helping Improve your chances of getting approved for mortgages, personal loans, and credit cards. Paying off debt can free up funds for other goals like saving or investing.
The Bottom Line
The debt avalanche and debt snowball methods are two different strategies for paying down debt. The debt payment strategy that is right for you depends on your personal circumstances and preferences. Weighing the pros and cons of each can help you create a plan to get you out of debt and into a better credit score. Then, you'll be able to focus on other financial goals.
Wed, 13 Apr 2022 19:31:00 -0500entext/htmlhttps://www.investopedia.com/articles/personal-finance/080716/debt-avalanche-vs-debt-snowball-which-best-you.aspCollege of Forest Resources and Environmental Science
Woods. Water. Wildlife. The serenity they provide. The organisms they support. And the products they produce. More than 5,000 acres of University forests are set aside for research, education, recreation, and outreach. We're a scholarly community on a first-name basis—ready to help you grow in your research and create a career based on challenges facing our natural world.
Watch Student Testimonial video
Student Testimonial
Mason Steele, Applied Ecology and Environmental Science, shares his MTU Experience.
Winner of our January 2023 photo contest, taken by Sam Kurkowski.
1
hour in class, the rest of the day outdoors (integrated field practicum)
1958
the world's longest predator-prey study continues today
17/13
average class size, average lab size
$7,333
average financial aid and scholarships, equaling 50 percent of tuition
Ready to take the next step?
Learn more about studying forestry and environmental science at Michigan's flagship technological university.
Watch Visit Michigan Tech’s Ford Forest: Our Living Lab video
Huskies go to the woods.
Our 5,000-acre classroom—study how the changing climate will affect our future forests. Because tomorrow needs managers, researchers, and stewards who understand how everything from tiny rodents to overall rainfall amounts are essential ecosystem components that affect our forest, our world, and our future.
Diverse Ecosystem of Environmental Stewardship
If you have a love for the woods, and a desire to sustain resources for the future, you will feel at home in the College of Forest Resources and Environmental Science (CFRES). Our College is a community on a first-name basis, connected by a shared passion for study, research, and work centered on forest health and ecosystem integrity. Similar to Keweenaw’s biodiverse ecosystems, CFRES is a community of undergraduates, graduates, faculty, staff, and alumni who learn, lead, and thrive in the unique environment the college has to offer. You’ll notice flags from countries around the world when you step into the door of our atrium. We are a safe space for all who love natural resources, with a commitment to a sense of belonging.
3,650 Acres of Research Forest
Michigan Tech’s Ford Center is home to our 3,650-acre forest. Located just over 40 miles from campus, students in their third year get to live, learn, and play in the woods for a whole semester. Learn how to navigate among the trees, count board feet, identify forest pests and diseases, and explore ways to mitigate them. Take a swim in the Sturgeon River while taking water samples, quantify woody and herbaceous plants, design maps, and learn to mark timber. Spend a couple of hours in the classroom, and the rest of the day outdoors. Work closely with your peers and professors to create management plans that best suit the environment for the changing climate.
Integrated Field Practicum at the Ford Center
The Integrated Field Practicum (IFP) is the cornerstone of natural resource management at Michigan Tech, and stands out among the rest as the only off-campus, semester-long field practicum in the United States. Offered in the Fall and Summer.
Who We Are
Mission Statement
Given our changing world, we work to address the challenges in natural resource sustainability through education and training, novel research, innovation, and outreach.
Accredited
Our forestry and master of forestry programs are SAF accredited.
Sun, 26 Jun 2022 00:39:00 -0500entext/htmlhttps://www.mtu.edu/forest/The best credit cards of January 2024
Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.
There are so many credit cards available to consumers that it can be hard to choose the best one. There's no "one size fits all" credit card, but instead options for different types of people — whether you're a foodie, road warrior, traveler, student or someone looking to build credit. A little research can help you find a card that's specifically designed for your lifestyle.
To determine which cards offer the best value, each month, CNBC Select analyzes over 250 credit cards available in the U.S. When comparing rewards cards, we use a demo budget based on spending data available from the location intelligence firm Esri to break down how much money each card could net you over five years. The cards we select also provide numerous additional benefits, such as annual statement credits, sign-up bonuses, discounts at select retailers, insurance and more that make using a credit card truly worthwhile.
Below, CNBC Select rounded up the best credit cards of January 2024 that can help you build credit, save on interest charges and earn you over $2,000 in cash back over five years. (See our methodology for more information on how we choose the best cards.)
Enjoy 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 1.5% cash back on all other purchases.
Welcome bonus
Special Offer: Unlimited Matched Cash Back. Use your card for all your purchases and at the end of your first year, Chase will automatically match all the cash back you earned! There is no limit to how much you can earn. Every dollar in cash back rewards you earn is a dollar Chase will match.
Annual fee
Intro APR
0% for the first 15 months from account opening on purchases and balance transfers
Regular APR
Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
3% of each transaction in U.S. dollars
Credit needed
Pros
No annual fee
Rewards can be transferred to a Chase Ultimate Rewards card
Generous welcome bonus
Cons
3% fee charged on foreign transactions
Who's this for? The Chase Freedom Unlimited® Card is ideal for consumers who want a robust rewards card with no annual fee. Cardholders earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on drugstores and dining at restaurants (including takeout) and 1.5% on all other purchases.
If you're looking to maximize your rewards, there's also a generous welcome bonus: Unlimited matched cash back. At the end of your first year, Chase will automatically match all the cash back you earned.
This card has no annual fee, and you can benefit from a 0% intro APR for the first 15 months from account opening on new purchases and balance transfers (after, 20.49% - 29.24% variable). This card also offers 5% cash back on Lyft purchases and complimentary three months of DashPass with 50% off for the next nine months. Simply activate by December 31, 2024.
4X Membership Rewards® points at Restaurants (plus takeout and delivery in the U.S.) and at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X), 3X points on flights booked directly with airlines or on amextravel.com, 1X points on all other purchases
Welcome bonus
Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
Annual fee
Intro APR
Regular APR
Balance transfer fee
Foreign transaction fee
Credit needed
Pros
Up to $120 dining credit annually ($10 a month) for purchases made with Grubhub, Goldbelly and other eligible restaurants (after a one-time enrollment)
Up to $120 Uber Cash annually ($10 a month) for U.S. Uber Eats orders and U.S. Uber rides (card must be added to Uber app to receive the Uber Cash benefit)
Strong rewards program with 4X points earned at restaurants and 3X points earned on flights booked directly with airlines or amextravel.com
Baggage insurance plan covers up to $1,250 for carry-on baggage and up to $500 for checked baggage that is damaged, lost or stolen
No fee charged on purchases made outside the U.S.
Cons
No introductory APR period
$250 annual fee
Estimated rewards earned after 1 year: $1,074
Estimated rewards earned after 5 years: $2,969
Rewards totals incorporate the points earned from the welcome bonus
Who's this for? If you love food and travel, the American Express® Gold Card could be the ideal rewards card for you. Whether you dine out or cook at home, this card earns a competitive 4X points per dollar spent at restaurants and 4X points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X). Plus, travelers can benefit from the 3X points on flights booked directly with airlines or on amextravel.com.
The value of Membership Rewards points varies depending on how cardholders redeem them. You can use them in a variety of ways, from paying with points at checkout at sites like Amazon to redeeming for gift cards or a statement credit to booking travel. See more on how points are calculated.
Cardholders also receive an annual dining credit of up to $120 ($10 in statement credits a month) at participating partners, including Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Terms apply. Enrollment required. There are also *no foreign transaction fees.
This card does have a *$250 annual fee, but it can be reduced to effectively $130 if you take advantage of the $120 dining credit each year. Then, the rewards you earn help further "pay" for the card.
Gold Card members can also participate in Amex Offers, where you can earn statement credits or bonus Membership Rewards® points at select retailers. These limited-time offers are location-based and additional terms apply.
$50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining, 3X points on select streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs), 2X points on all other travel purchases, and 1X points on all other purchases
Welcome bonus
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Annual fee
Intro APR
Regular APR
21.49% - 28.49% variable on purchases and balance transfers
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Foreign transaction fee
Credit needed
Pros
Points are worth 25% more when redeemed for travel via Chase Ultimate Rewards®
Transfer points to leading frequent travel programs at a 1:1 rate, including: IHG® Rewards Club, Marriott Bonvoy™ and World of Hyatt®
Travel protections include: auto rental collision damage waiver, baggage delay insurance and trip delay reimbursement
No fee charged on purchases made outside the U.S.
Cons
$95 annual fee
No introductory 0% APR
Who's this for? If you want to get a lot of value right out of the gate, consider the Chase Sapphire Preferred. The card is currently offering new cardholders the chance to earn 60,000 points after spending $4,000 on purchases within three months of account opening. Those points are worth $750 toward travel booked through the Chase Ultimate Rewards® Travel portal. You can even potentially get more value if you transfer Chase points to Chase's travel partners, like Hyatt hotels and United Airlines, and book business-class flights and luxury hotels.
The Sapphire Preferred is also a great travel rewards credit card and has strong earning categories for those who spend on travel and dining. It earns 5X points on travel booked through the Chase Travel Portal, 3X points on dining (including takeout and delivery), 3X points on select streaming services, 3X points on online grocery purchases (excludes Target, Walmart and wholesale clubs), and 2x points on all other travel.
The card also offers a $50 annual credit that can go towards booking a hotel in the Chase Travel Portal — this can help offset the already modest $95 annual fee.
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24
Welcome bonus
Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Annual fee
Intro APR
0% for the first 18 months on balance transfers; N/A for purchases
Regular APR
Balance transfer fee
For balance transfers completed within 4 months of account opening, an intro balance transfer fee of 3% of each transfer ($5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($5 minimum) applies
Foreign transaction fee
Credit needed
Pros
2% cash back on all eligible purchases
Simple cash-back program that doesn't require activation or spending caps
One of the longest intro periods for balance transfers at 18 months
Cons
3% fee charged on purchases made outside the U.S.
Estimated rewards earned after 1 year: $443
Estimated rewards earned after 5 years: $2,213
Who's this for? The Citi Double Cash® Card is a straightforward rewards card that continues to offer one of the best flat-rate cash-back programs since it launched in 2014. Cardholders earn 2% cash back on all purchases — 1% when you make a purchase and an additional 1% when you pay your credit card bill. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi TravelSM portal through 12/31/24.
There is no limit to the amount of cash back you can earn and you don't have to worry about activating bonus categories. Cashback can be redeemed for a statement credit or direct deposit.
This card is also a good choice for debt consolidation. There's a 0% intro APR for the first 18 months on balance transfers (then 19.24% - 29.24% variable APR). There's an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5). (See more on how to make the most of a balance transfer.)
Automatically earn unlimited 1.5x Miles on every dollar of every purchase.
Welcome bonus
Discover will match all the Miles you've earned at the end of your first year.
Annual fee
Intro APR
0% Intro APR for 15 months on purchases
Regular APR
17.24% to 28.24% Variable
Balance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Foreign transaction fee
Credit needed
Pros
Miles program
Generous welcome bonus
No blackout dates
No limit to the amount of miles you can earn and miles never expire
Cons
No Global Entry or TSA PreCheck statement credit offerings
Travel spending does not receive additional rewards
No airport lounge access
Who's this for? The Discover it® Miles card comes with a generous rewards program — all for zero annual fee — that makes it a standout among travel cards.
The Discover it Miles card offers users unlimited 1.5X miles for every dollar spent on all purchases. But for higher spenders, Discover offers a welcome bonus that's hard to beat: It will do a mile-for-mile match of all miles earned the first year (for new card members in their first year only). If you rack up 35,000 miles within the first 12 months, Discover will match you with 35,000 miles. That's a total of 70,000 miles or $700 toward travel. (Based on our calculations, the average card user will earn around 32,777 miles in the first year.)
With this card, there are no blackout dates when you pay for travel purchases using your card. And, you can easily redeem miles as a statement credit for travel, restaurant or gas station purchases, as well as a deposit to your bank account. The best part is that miles earned never expire — even if your account is closed.
0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening.
Regular APR
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening.
Foreign transaction fee
Credit needed
Pros
No annual fee
Balances can be transferred within 4 months from account opening
One of the longest intro periods for balance transfers
Cons
3% foreign transaction fee
No rewards program
Who's this for? The Citi Simplicity® Card offers one of the longest balance transfer intro periods at 0% for 21 months from the date of the first transfer (after, 19.24% - 29.99% variable APR). Balance transfers must be completed within four months of account opening. This is nearly two years to pay off debt, which can be helpful if you have a large balance or if your cash flow doesn't allow you to pay off the debt within the 6-, 12- or 15-month time periods of other balance transfer cards.
This card has no annual fee and comes with an introductory balance transfer fee: either 3% ($5 minimum) for transfers completed within the first 4 months of account opening, then up to 5% ($5 minimum). This can be worthwhile if you're paying high-interest charges.
New cardholders have four months to complete their balance transfer (longer than the typical 60 to 90 days). While you have more time to complete a transfer, the intro APR period starts at account opening — so try to make the transfer as soon as possible to get the most benefit of the interest-free period.
This card also never charges late fees (though we always recommend you pay your balance on time and in full). There isn't a welcome bonus or a rewards program.
Information about the Titanium Rewards Visa® Signature Card from Andrews Federal Credit Union has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.
Rewards
3X points on gas and grocery purchases and 1.5X points on all other purchases
Welcome bonus
Earn 10,000 points when you spend $1,500 within the first 90 days
Annual fee
Intro APR
N/A for purchases and balance transfers
Regular APR
13.74% to 18.00%variable on purchases; 13.74% to 17.99% on balance transfers.
Balance transfer fee
Foreign transaction fee
Credit needed
Pros
Low 9.49% to 16.49% variable APR
No fee charged on purchases made outside the U.S.
Cons
Credit union membership required, though it’s free
No special financing on purchases or balance transfers
Balance transfer fee of 1.5%, or $50, whichever is greater.
Estimated return after 1 year: $543
Estimated return after 5 years: $2,314
Rewards totals incorporate the points earned from the welcome bonus
This card offers a variable APR of 13.74% to 18.00% on purchases. If you carry a balance, you can benefit from low interest charges compared to other cards that have high interest rates. Balance transfers do incur a fee of $10.00 or 2.00% of the amount of each cash advance, whichever is greater.
Beyond interest rates, the Visa® Titanium Signature Rewards Card offers a generous rewards program: Earn 3X points on gas and grocery purchases and 1.5X points on all other purchases. Plus, there's a welcome bonus of 10,000 points after you spend $1,500 within the first 90 days.
In order to open this card, you need to join Andrews Federal Credit Union, but anyone can join. If you don't meet the qualification requirements, you can opt to join the American Consumer Council (ACC) for free with the promo code "Andrews."
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
Welcome bonus
Discover will match all the cash back you've earned at the end of your first year
Annual fee
Intro APR
Regular APR
Balance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Foreign transaction fee
Credit needed
Pros
Cash-back program
Generous welcome bonus
Starting at seven months from account opening, Discover will automatically review your credit card account to see if you can transition to an unsecured line of credit and return your deposit
Cons
Cash-back program limits earnings: 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1%
Low credit line prevents cardholders from charging high-cost items or many expenses
Who's this for? The Discover it® Secured Credit Card is a well-rounded secured card that offers many benefits that are typically found with unsecured cards. Cardholders can earn cash back, receive a generous welcome bonus, use the card overseas without incurring added fees and more — all for no annual fee.
Cardholders earn a competitive 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1%. Plus, you can earn unlimited 1% cash back on all other purchases automatically. The welcome bonus is also unique: For new card members in the first year only, Discover will automatically match all the cash back you've earned at the end of your first year. So, if you earn $50 cash back at the end of the first year, Discover will provide you an additional $50.
This card requires a minimum $200 security deposit, which is fairly standard for secured credit cards. It stands out from the crowd because it gives users a clear path to upgrading to an unsecured card (and getting their deposit back). Starting at seven months from account opening, Discover will automatically review your credit card account to see if they can transition you to an unsecured line of credit and return your deposit. This takes the guesswork out of wondering when you'll qualify for an unsecured credit card.
1% cash back on eligible purchases right away and up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments; 2% to 10% cash back at select merchants
Welcome bonus
Annual fee
Intro APR
Regular APR
Balance transfer fee
Foreign transaction fee
Credit needed
Pros
No credit history required (if you do have a credit history, that does factor into the credit decision)
No fees whatsoever
1% cash back on eligible purchases right away and up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments; 2% to 10% cash back at select merchants
Credit limits range from $300 to $10,000
Cons
Card isn't for rebuilding credit, but it's good for building credit
No special financing offers
No welcome bonus
Estimated rewards earned after 1 year: $249
Estimated rewards earned after 5 years: $1,577
Who's this for? The Petal 2 "Cash Back, No Fees" Visa Credit Card, issued by WebBank, is easier to get approved for because it takes a different approach to the credit card application process. Instead of judging your creditworthiness solely based on credit history, Petal may ask you to link bank accounts during the application process. Then, WebBank analyzes your bank statements and other data, such as bill payments and earnings, to determine your eligibility.
This is especially beneficial for applicants who may not have any credit history. However, if you do have a credit history, that does factor into the credit decision.
The Petal 2 Visa Credit Card is one of the few cards that charge zero fees*: no annual fee, no late payment fee and no foreign transaction fees. And it stands out for consumers trying to build credit because there's no security deposit required.
It also offers a rewards program with 1% cash back on eligible purchases right away, which can increase up to 1.5% cash back after you make 12 on-time monthly payments. This is not only a nice perk, but a great way to encourage responsible behavior. Cardholders also earn 2% to 10% cash back from select merchants.
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases-automatically.
Welcome bonus
Discover will match all the cash back you've earned at the end of your first year
Annual fee
Intro APR
0% for 6 months on purchases
Regular APR
Balance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Foreign transaction fee
Credit needed
Pros
Cash-back program
Generous welcome bonus
Cons
Cash-back categories must be activated each quarter
Cash-back program limits earnings: Enroll every quarter to earn 5% cash back in various categories on up to $1,500 in quarterly purchases, then 1%
You must be a U.S. citizen and college student to apply for this card
Who's this for? The Discover it® Student Cash Back is a well-rounded card that offers college students enrolled in a two- or four-year college the chance to build credit while earning rewards. You must be over 18 and a U.S. citizen to apply.
Upon activation, cardholders can earn 5% cash back on rotating categories up to a $1,500 maximum each quarter (then 1%). All other purchases earn unlimited 1% cash back automatically.
There is also an introductory 0% APR for six months on new purchases — perfect for financing dorm room essentials or textbooks. After the intro period, there's a 18.24% - 27.24% variable APR. After you graduate, your Discover it student credit card becomes a regular credit card.
Earn 5X total points on flights and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases plus, 10X points on Lyft rides through March 2025
Welcome bonus
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®
Annual fee
Intro APR
Regular APR
Balance transfer fee
Foreign transaction fee
Credit needed
Pros
$300 annual travel credit for travel purchases
Global Entry or TSA PreCheck application fee credit up to $100 every four years
Priority Pass™ Select lounge access at 1,000+ VIP lounges in over 500 cities worldwide
Points are worth 50% more when redeemed for travel via Chase Ultimate Rewards®
Special benefits at The Luxury Hotel & Resort Collection
Complimentary year of Lyft Pink membership
Cons
High annual fee, but it can be offset by taking advantage of all the card’s perks
No introductory APR
Estimated rewards earned after 1 year: $1,469
Estimated rewards earned after 5 years: $3,346
Rewards totals incorporate the points earned from the welcome bonus
Who's this for? The Chase Sapphire Reserve® is geared toward foodies and frequent travelers who are looking for luxurious perks, such as free airport lounge access and complimentary hotel room upgrades. Cardholders earn a competitive 3X points on dining and travel worldwide. Based on CNBC Select's calculations, we found the average American using this card could earn an estimated $165 per year in rewards for dining purchases alone (assuming you redeem rewards for travel via Chase Ultimate Rewards®, receiving 50% more value).
The value of Chase rewards points varies depending on how you use them. If you redeem points for cash and gift cards, each point is worth $.01, which means that 100 points equals $1 in redemption value. (See more on how the value of points is calculated.)
This card has a unique benefit where all points are worth 50% more when redeemed for travel via Chase Ultimate Rewards®. For example, 60,000 points are worth $900 redeemed toward airfare, hotels, car rentals and cruises when you redeem through Chase Ultimate Rewards®. This perk is a great way to get the most value for your rewards.
While this card has a robust travel rewards program, it also comes with a steep $550 annual fee. All the card's added credits and benefits provided by Chase can help offset the annual cost. The $300 annual travel credit effectively reduces the annual fee to $150. Cardholders can take advantage of a Priority Pass™ Select membership that has a value of about $429. They also get a Global Entry or TSA PreCheck application fee credit of up to $100 every four years.
5X points on gas purchases at the pump and electrical vehicle charging stations, 3X points on supermarket purchases, 1X point on all other purchases
Welcome bonus
15,000 points when you spend $1,500 in the first 3 months from account opening
Annual fee
Intro APR
0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening.*
Regular APR
17.99% variable on purchases; 17.99% non-variable on balance transfers
Balance transfer fee
Foreign transaction fee
Credit needed
Pros
High 5X points on gas at the pump and 3X on supermarket purchases
No bonus category activations
Good special financing offer on balance transfers
Estimated rewards earned after 1 year: $513
Estimated rewards earned after 5 years: $2,167
Rewards totals incorporate the points earned from the welcome bonus.
*0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. 3% balance transfer fee per transaction. Subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.
Who's this for? Among the cards we analyzed, the PenFed Platinum Rewards Visa Signature® Card currently offers the highest rewards rate at gas stations with 5X points per dollar spent for gas purchases at the pump.
This card has no annual fee, so road warriors can maximize their savings. In addition to earning high rewards at gas stations, cardholders also benefit from unlimited 3X points for supermarket purchases.
PenFed is a credit union, so membership is required to open the PenFed Platinum Rewards Visa Signature® Card. Anyone can join by completing a few extra steps: You need to apply, open a savings account with a $5 deposit and maintain a $5 account balance.
6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations, 3% cash back on transit (including taxis/rideshare, parking, tolls, trains, buses and more) and 1% cash back on other purchases. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Welcome bonus
Earn a $250 statement credit after you spend $3,000 in purchases on your new card within the first 6 months.
Annual fee
$0 intro annual fee for the first year, then $95.
Intro APR
0% for 12 months on purchases from the date of account opening
Regular APR
19.24% - 29.99% variable. Variable APRs will not exceed 29.99%.
Balance transfer fee
Either $5 or 3% of the amount of each transfer, whichever is greater.
Foreign transaction fee
Credit needed
Pros
High 6% cash back at U.S. supermarket spending (up to $6,000 a year, then 1%)
Unlimited 6% cash back on select U.S. streaming subscriptions
Unlimited 3% cash back at U.S. gas stations and on transit
Cons
2.7% fee on purchases made abroad
Estimated rewards earned after 1 year: $679
Estimated rewards earned after 5 years: $2,397
Rewards totals incorporate the cash back earned from the welcome bonus
Who's this for? Frequent grocery shoppers will be happy to learn the Blue Cash Preferred® Card from American Express offers the highest cash-back rate at U.S. supermarkets at 6% (on up to $6,000 per year in purchases, then 1%). The average American can earn $310 in cash back each year when they do their shopping at qualifying supermarkets.
If you want to maximize cash back on groceries, this card is for you. In addition to high grocery rewards, there's an unlimited 6% cash back on select streaming subscriptions, unlimited 3% cash back at U.S. gas stations, unlimited 3% cash back on transit including taxis/rideshare, parking, tolls, trains, buses and more and 1% cash back on all other purchases.
This card has $0 intro annual fee for the first year (then $95), but it can be offset by the cash back you earn and discounts you can get through the Amex Offers. (See rates and fees)
Earn points when you make 5 transactions that post each statement period - up to 1x points on rent payments without the transaction fee (up to 100,000 points each calendar year), 3x points on dining, 2x points on travel, and 1x points on other purchases.
Welcome bonus
Annual fee
Intro APR
Regular APR
Balance transfer fee
Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for 120 days from account opening. After that, up to 5% for each balance transfer ($5 minimum).
Foreign transaction fee
Credit needed
Pros
No annual fee
Solid rewards on broad spending categories
Ability to pay your rent with no transaction fees
Transfer points to leading frequent traveler programs at a 1:1 rate, including American Airlines, United and World of Hyatt®
Cons
No welcome offer
No introductory 0% APR
Who's this for? The Bilt Mastercard® is the only credit card that lets you earn travel rewards on rent payments with no fees.
So long as you make at least five card transactions per statement period, you'll earn 3X points on dining, 2X points on travel 1X points on rent (on up to $50,000 in rent payments every year) and everything else. Thanks to a new partnership with Lyft, cardholders can now also earn up to 5X points on their rideshares.
Thanks to the BiltProtect feature, cardholders are protected from using up their entire credit limit or risk going into debt by charging their rent to their card every month. Other benefits include cell phone protection; Purchase Assurance Plus, which covers your purchases for 90 days; exclusive discounts with brands like Lyft, DoorDash and ShopRunner; and access to the Mastercard Luxury Hotels & Resorts portfolio, which offers amenities like upgrades, free breakfast and property credits.
Bilt Rewards points are extremely flexible. They can be redeemed for travel either by transferring them to airline and hotel partners or by booking through the Bilt Travel Portal at a fixed rate of 1.25 cents per point. Other redemption options include using them to shop online, book fitness classes, pay rent and even make a down payment on a home.
Information about the Capital One Savor Cash Rewards Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
Rewards
4% cash back on dining and entertainment, 4% on eligible streaming services, 3% at grocery stores and 1% on all other purchases
Welcome bonus
Earn a one-time $300 cash bonus once you spend $3,000 on purchases within the first three months from account opening
Annual fee
Intro APR
Regular APR
Balance transfer fee
3% for promotional APR offers; none for balances transferred at regular APR
Foreign transaction fee
Credit needed
Pros
Unlimited 4% cash back on entertainment purchases
Ability to redeem rewards at any amount, unlike some other cards with $25 minimums
No fee charged on purchases made outside the U.S.
Cons
$95 annual fee
No introductory 0% financing offers for purchases or balance transfers
Who's this for? Sports fans, movie buffs and adventure seekers will all find a common reason to like the Capital One Savor Cash Rewards Credit Card*: unlimited 4% cash back on entertainment purchases. Compared to other rewards cards, this is the highest unlimited rewards rate on entertainment spending, whether you're buying movie tickets, taking a family trip to the zoo or spending the evening bowling with friends.
Cardholders can also benefit from exclusive access to entertainment events, such as the iHeartRadio Music Festival and the Capital One JamFest.
Beyond entertainment perks, there's also 10% cash back on Uber rides, 4% cash back on dining and popular streaming services, 3% at grocery stores and 1% on all other purchases. Plus, you can enjoy an Uber One membership through Nov. 14, 2024 and foodie-centric perks through Capital One Dining.
This card does come with a $95 annual fee, but can be offset by the cash back you earn.
Best credit card for Global Entry and/or TSA PreCheck credit
5 Miles per dollar on hotel and rental cars booked through Capital One Travel, 2X miles per dollar on every other purchase
Welcome bonus
Earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening
Annual fee
Intro APR
N/A for purchases and balance transfers
Regular APR
Balance transfer fee
$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Foreign transaction fee
Credit needed
Pros
5 miles per dollar on hotel and rental cars booked through Capital One Travel
Global Entry or TSA PreCheck application fee credit up to $100 every 4 years
Cons
No introductory APR
There’s a $95 annual fee
Who's this for? The Capital One Venture Rewards Credit Card offers excellent rewards rates: Earn 5X miles per dollar on hotel and rental cars booked through Capital One Travel and 2X miles per dollar spent on all other spending. While Venture does come with a $95 annual fee, that's low compared to some other rewards cards, with some annual fees of up to $550. (See rates and fees)
In addition to rewards, every four years cardholders receive a credit for a Global Entry or TSA PreCheck application, up to $100. Cardholders now also get two free visits to Capital One airport lounges per year. If you travel often, these are great perks that can save you time and money.
This card has no foreign transaction fees and comes with a bunch of additional travel perks, such as 24-hour travel assistance services and an auto rental collision damage waiver. (See rates and fees)
*Terms, conditions and exclusions apply. Refer to your Guide to Benefits for more details.
Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year, 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel, 1X points on all other eligible purchases
Welcome bonus
Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
Annual fee
Intro APR
Regular APR
Balance transfer fee
Foreign transaction fee
Credit Needed
Pros
Up to $200 in annual airline fee credits
Up to $200 in annual Uber savings. Benefit renews annually.
Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card®.
$240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, ESPN+, Hulu, The New York Times, Peacock, SiriusXM, and The Wall Street Journal. Enrollment required.
$155 Walmart+ Credit: Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive a statement credit that covers the full cost each month. $12.95 plus applicable taxes. Plus Up Benefits not eligible.
Cons
$695 annual fee
No special financing offers on new purchases
Who's this for?The Platinum Card® from American Express is for those who want a luxury card with a lengthy list of benefits. Although best known for its travel perks, this card also offers a number of everyday benefits, including digital entertainment, shopping and wellness credits (enrollment required), so you don't need to be a road warrior to benefit from it.
To start, cardholders earn a respectable 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel (on up to $500,000 per calendar year), 5X points on prepaid hotels booked with American Express Travel and 1X points on all other purchases.
In addition, cardholders can enjoy over a dozen premium travel and lifestyle benefits, including:
Up to $200 annual hotel credit. (Hotel Collection requires a minimum two-night stay)
Up to $200 annual airline fee credit
Up to $300 per calendar year Equinox credit
Up to $100 annual Saks Fifth Avenue credit
Up to $189 credit to enroll in CLEAR® Plus (subject to auto-renewal)
Up to $240 annual digital entertainment credit
Up to $155 annual Walmart+ credit. (Plus Ups not eligible. Subject to auto renewal.)
Worldwide airport lounge access, including Delta SkyClubs and Amex Centurion Lounges
Up to $200 annual Uber credit. Benefit renews annually.
$100 fee credit for Global Entry (every 4 years) or up to $85 for TSAPreCheck (every 4.5 years)
Automatic hotel elite status with Hilton Honors and Marriott Bonvoy
Comprehensive travel insurance
Complimentary Amex concierge service
Terms apply
Its $695 annual fee (see rates and fees) is higher than any other card on this list, but you can definitely come out ahead if you take full advantage of the benefits. And that's before factoring in the card's welcome offer, which many rewards experts value at $2,000. (See more on how the value of points is calculated.)
Unlimited 2X miles on all eligible purchases, and 5 Miles per dollar on flights and 10 Miles per dollar on hotels and rental cars when booked via Capital One Travel portal
Welcome bonus
Earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening
Annual fee
Intro APR
Regular APR
19.99% - 29.99% variable APR
Balance transfer fee
$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Foreign transaction fees
Credit needed
Pros
Large welcome bonus
No foreign transaction fees
Up to $100 statement credits for either Global Entry or TSA PreCheck®
Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
Cons
High annual fee
No introductory 0% APR period
Who's this for? If you value simplicity and want one, strong standalone credit card, it doesn't get much better than the Capital One Venture X Rewards Credit Card. It offers a straightforward rewards structure, a myriad of valuable benefits and a lower annual fee than other high-end cards with similar features.
Cardholders earn 2X miles on everyday purchases, plus 5X miles on flights and a whopping 10X miles on hotels and cars booked through Capital One Travel. These miles can be transferred to airline and hotel partners, such as Accor Live Limitless, Air Canada Aeroplan and Etihad Guest. You can also redeem rewards toward travel through Capital One Travel, cash-back, gift cards, experiences and more.
On top of that, the Venture X card offers up to $100 in statement credit for either Global Entry or TSA PreCheck®, complimentary cell phone insurance, special perks on hotel stays book through the Premier Collection and access to Capital One Lounges as well as the extensive network of Priority Pass and Plaza Premium airport lounges worldwide. Every year, cardholders receive up to $300 back in statement credits each year for bookings made through Capital One Travel and a 10,000-mile bonus on each account anniversary (worth at least $100 for travel), making it easy to recoup the $395 the annual fee. (See rates and fees)
*Terms, conditions and exclusions apply. Refer to your Guide to Benefits for more details.
Things to consider before choosing a credit card
Having a credit card is an important piece of your financial profile, but with so many options available, it can be hard to find the best one for your needs. Here are some common questions to ask yourself so you can decide what's the best credit card for you.
And if you want to earn rewards, what specific categories are most important to you?
Rewards credit cards come in all shapes and sizes. If you want to maximize rewards in specific categories, check out cards offering bonus rewards on gas, groceries, restaurants, entertainment, travel and more. Or keep it simple and opt for a flat-rate cash-back card.
What credit score do I need to get the best cards?
When you apply for a credit card, the bank or lender will review your credit report from one or more of the three major credit bureaus. It will also typically check your FICO credit score, the top credit cards usually require a very good or excellent credit score.
This is how FICO credit scores are classified according to myFICO:
Poor/bad credit: Less than 580
Fair credit: 580-669
Good credit: 670-739
Very good credit: 740-799
Exceptional/excellent credit: 800 or higher
Building and maintaining a healthy credit score helps your personal finances in all sorts of ways outside of increasing your chances of getting approved for a great sign-up bonus. Your FICO score is calculated based on the following factors and each is weighted differently:
Payment history: 35%
Total debt: 30%
Length of credit history: 15%
New credit: 10%
Credit mix: 10%
FAQs
How many credit cards should I have?
Many people have multiple credit cards, and there are benefits to this. It can help increase your credit score by giving you more available credit and therefore a better credit utilization ratio.
At its most basic, having access to more credit can help you finance more purchases if you don't have enough cash to cover everything up front.
You can also earn more rewards by optimizing which card you use for certain spending categories. For instance, you may make all your dining purchases with a card that earns bonus rewards in that category, but another card with a bonus multiplier for grocery purchases.
Ultimately, it's up to you to decide how many credit cards you need. Make sure to evaluate your spending habits and research what card would be best for you.
What do I need to apply for a credit card?
Applying for a credit card is easy, and you'll often get an instant decision on whether you're approved or denied. To apply for a credit card, you'll generally need to provide the following:
Full legal name
Date of birth
Social Security or Individual Taxpayer Identification Number
Mailing address
Email address and/or phone number
Annual income
Housing costs
How old do I have to be to get a credit card?
What is the easiest credit card to get?
Secured credit cards are generally the easiest credit cards to be approved for. They are similar to traditional cards (they extend credit, can incur interest charges and in some cases can even earn rewards) but require you to put down a security deposit to access a line of credit. The amount you deposit usually becomes your credit limit.
Which type of card is most accepted?
There are four major credit card issuers: American Express, Discover, Mastercard and Visa.
Visa and Mastercard are the most widely accepted credit card networks globally. That said, American Express and Discover still have 99% acceptance rates among U.S. merchants who take credit cards and are increasing their international footprints.
What is a credit card's billing cycle?
When it comes to credit cards, most billing cycles are one month or 28 to 31 days. After your billing cycle ends, you typically have what is known as a grace period where you can pay off your full balance without incurring any interest charges. However, if you pay off your card balance before the billing cycle ends, it will help to keep your credit utilization down, which boosts your credit score.
Keep in mind that the grace period may not apply to all charges. Balance transfers and cash advances are usually charged interest starting on the transaction date.
Do I need a business credit card?
Having a separate credit card for your small business or side hustle is important so you can keep your personal and business activities separate. Business credit cards come in all shapes and sizes, there are business cards that offer cash-back rewards, travel rewards and everything in between.
The right business credit card for you should offer bonus rewards that align with your business spending. To keep it simple, you can start your business credit card search at the bank where you currently have your business bank accounts. If you bank with Wells Fargo, Bank of America or Chase, then it may be easiest to have all of your accounts with one institution.
Many of the banks that offer the best consumer cards also have top-notch business cards. For example, Chase has the Ink Business line of small business cards, which includes the Ink Business Unlimited® Credit Card and the Ink Business Cash® Credit Card. Both cards have no annual fee, hefty sign-up bonuses and generous bonus spending categories.
Bottom line
There are hundreds of different credit cards on the market to cater to every kind of consumer. The best card for you will ultimately depend on your personal spending habits, goals and credit history.
To get the most benefit from your card, you want to make sure you practice responsible credit behavior, such as paying off your balance on time and in full each month and avoiding overspending and falling into debt.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit cardreview is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit cardproducts. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best credit cards.
Our methodology
To determine which cards offer the best value, CNBC Select analyzed over 250 of the most popular credit cards available in the U.S. We compared each card on a range of features, including rewards, welcome bonus, introductory and standard APR, balance transfer fee and foreign transaction fees, as well as factors such as required credit and customer reviews when available. We also considered additional perks, the application process and how easy it is for the consumer to redeem points.
We also estimated how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee. Our final picks are weighted heavily toward the highest five-year returns, since it's generally wise to hold onto a credit card for years. This method also avoids giving an unfair advantage to cards with large welcome bonuses.
For balance transfer cards, we used a Bankrate calculator to tally the interest rates and fees you could incur if you transferred $6,028, the average balance Americans carry on their credit cards in 2019, before the pandemic, according to Experian.
If the average consumer with a $6,028 balance on their credit card pays $200 each month, they will spend $1,911 in additional interest, assuming the average 17.7% APR. And it will take them 40 months — more than three years — to pay off that debt.
With four of the five cards featured on this list, if you take full advantage of the intro APR period and pay $200 per month, you'll pay less than $450 in interest and cut your repayment time in half to 20 months. That's a significant savings.
For the cards that offered a rewards program, we also estimated how much cash back you might earn over a five-year period. CNBC Select teamed up with location intelligence firm Esri. The company's data development team provided the most up-to-date and comprehensive consumer spending data based on the 2019 Consumer Expenditure Surveys from the Bureau of Labor Statistics. You can read more about their methodology here.
Esri's data team created a demo annual budget of approximately $22,126 in retail spending. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses.
CNBC Select used this budget to estimate how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee.
It's important to note the value of a point or mile varies from card to card and based on how you redeem them. When we calculated the estimated returns, we assumed that cardholders are redeeming points/miles for a typical maximum value of 1 cent per point or mile. (Extreme optimizers might be able to achieve more value.)
When choosing the best balance transfer card, we focused on the card that provides consumers with the cheapest way to pay off their debt rather than the number of rewards they could potentially earn. When you're in credit card debt, your primary focus should be repayment. Earning rewards should be seen as a bonus, and you don't want to spend beyond your means in order to earn points.
The five-year rewards total and the interest rate and fees estimates are derived from a budget similar to the average American's spending and debt. You may earn a higher or lower return depending on your spending habits.
The editor's choice card is independently chosen by CNBC Select's editorial team. While it may not have ranked as the number-one card in any given category, it consistently ranks highly across multiple categories and we believe offers some of the best value overall for a stand-alone card. Its rewards, welcome bonus, APR, fees, ease-of-use and ongoing benefits were all taken into consideration.
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
For rates and fees of the American Express® Gold Card, clickhere.
For rates and fees of the Blue Cash Preferred® Card from American Express, clickhere.
For rates and fees of the Discover it® Secured Credit Card, clickhere.
For rates and fees of the Discover it® Student Cash Back, clickhere.
For rates and fees of the Discover it® Miles, click here.
For rates and fees of The Platinum Card® from American Express, clickhere.
Petal 2 Visa Credit Card issued by WebBank.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
* Information about the Capital One Savor Cash Rewards has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Tue, 02 Jan 2024 04:08:00 -0600entext/htmlhttps://www.cnbc.com/select/best-credit-cards/About the Center
Named in honor of the late C. Roland Christensen, longtime HBS faculty member and legendary case method teacher, the Center's focus is helping faculty develop as teachers. It augments the School's traditional system of faculty-to-faculty mentoring by providing additional resources and programs to strengthen teaching capabilities across all levels of the faculty and throughout instructors' careers. The Center's offerings and initiatives fall into four main areas:
Faculty COACHING
Services include class observations and videorecording, supplemented by pre-class planning and debrief feedback sessions. The Center also offers comprehensive qualitative course evaluation analysis on both the faculty and course level as well as for midterm feedback; advice and counsel in the areas of pre-term planning, within-term troubleshooting, post-term reflection, classroom presence coaching, and case and course development. (See Services for HBS Faculty for more details). In addition, the Center participates in the design and delivery of the START orientation program for new HBS faculty as well as various case method teaching programs offered by HBS to faculty from business schools outside the United States.
Communicating Best Practices
Drawing from its research and the knowledge and skills of the School's most experienced faculty, the Center develops materials and video products that showcase strategies, best practices, and innovations in the area of case method teaching and participant-centered learning. The Center also identifies and collects externally published material relevant to teaching by the case method. Resources
Convening Colloquia & Workshops
The Center facilitates colloquia on Teaching and Learning, attended by a large proportion of the HBS faculty, as well as smaller, more focused faculty workshops and seminars dedicated to the practice of case method teaching.
Conducting Research
The Center conducts applied research on various subjects pertinent to management teaching and education. Ongoing projects include research on case method teaching, teaching effectiveness and evaluation, pedagogical innovations, gender and diversity issues, and teaching styles and techniques.
Planning for the Center began in earnest under former HBS Dean Kim Clark and received generous support from HBS alumni. It continues to develop under the guidance of Professor Joshua Margolis (Faculty Chair of the Center) and Willis Emmons (the Center's Director), along with valuable input from its Steering Committee of senior faculty.
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