Ranking and comparing credit card websites and tools are commonly found online. Although the tools feel harmless at worst and helpful at best, they have a dirty little secret.
Credit card companies are paying those sites to push their credit cards over, what could be, better credit card offers.
You’ll find somewhere on the website a disclaimer, in very small print, that they receive compensation for promoting certain cards, but they make it sound innocuous.
I have great news to share! The Consumer Financial Protection Bureau developed a new and free credit card comparison tool: Explore Credit Cards.
The CFPB was established in response to the 2008 financial crisis, during which millions of Americans suffered due to risky lending practices and insufficient regulation in the financial sector. The agency was designed to ensure that such a crisis would not happen again by providing a watchdog dedicated to consumer financial health.
I proudly served a one year term as a Visiting Scholar with the Consumer Financial Protection Bureau.
Discover the CFPB's New Tool to Help You Find the Best Credit Card Rates
Navigating the world of credit cards can feel overwhelming. With so many options and fine print, it’s easy to get stuck with high-interest rates, hidden fees, or rewards programs that don’t deliver as promised. But now, there’s a tool that simplifies it all—introducing the Consumer Financial Protection Bureau’s (CFPB) Explore Credit Cards tool.
This first-of-its-kind tool is designed to empower you to make better financial choices by offering an unbiased way to compare over 500 credit cards. Whether you're looking for a rewards card with travel perks or a traditional card with low fees, this tool can help you find the best fit for your needs.
How to Use the CFPB Explore Credit Cards Tool
Using the CFPB’s Explore Credit Cards tool is simple. Visit their website and input your preferences—such as your credit score, the types of rewards you want, or the maximum annual fee you’re willing to pay. The tool will generate a list of cards that match your criteria, helping you make an informed choice without the guesswork.
Take Control of Your Credit Card Choices
The CFPB’s Explore Credit Cards tool puts the power back in your hands. Whether you’re looking to save on interest, avoid hidden fees, or find a rewards program that truly delivers, this tool can help you make smarter decisions. Don’t settle for the first card that comes your way—explore your options and choose the one that’s best for you.
Start using the Explore Credit Cards tool today and take the first step toward better financial health!
Why You Should Care About the CFPB’s New Tool
Credit cards are a big deal in our daily lives. They help us make purchases, earn rewards, and build credit. However, not all credit cards are created equal. Some come with sky-high interest rates, hidden terms, or rewards programs that fail to deliver what they promise. The CFPB has stepped in to help consumers avoid these pitfalls and save money.
The Explore Credit Cards tool stands out because it provides unbiased, comprehensive data about credit card options. Unlike many comparison sites that promote cards for a fee, the CFPB’s tool doesn’t take kickbacks from credit card companies. Instead, it gives you a clear and honest look at what’s available.
What Makes This Tool Different?
Compare Over 500 Cards: The CFPB’s tool allows you to compare more than 500 credit cards from major issuers and smaller providers. It’s not limited to cards that pay to be featured, so you get a more complete picture of your options.
Unbiased Information: The data is free from marketing schemes. This means you won’t be steered toward cards with higher fees or interest rates just because they’re profitable for a website.
Tailored to Your Needs: You can search for cards based on your credit score, interest rate preferences, annual fees, and rewards programs. This helps you find a card that’s right for your specific situation.
How the CFPB Tool "Explore Credit Cards" Helps You Save Money
The CFPB’s research shows that interest rates on credit cards vary widely. Smaller banks and credit unions often offer much lower rates compared to big-name issuers. By using the Explore Credit Cards tool, you can find these hidden gems and potentially save hundreds of dollars a year in interest.
For example, some larger credit card companies charge interest rates 8–10 percentage points higher than smaller providers. Over time, this could cost the average cardholder $400 to $500 annually. With the CFPB tool, you can easily compare rates and find a card that fits your budget.
Follow Modern Husbands
Start, Strengthen, or Rebuild Marriages. For couples who want to manage money and the home as a team.
Winning ideas to manage money and the home as a team delivered to your inbox every two weeks. You'll even receive a few free gifts!
Winning ideas from experts to manage money and the home as a team. 2023 Plutus Award Finalist: Best Couples or Family Content
🔔 Click here to listen and subscribe to the Modern Husbands Podcast on Apple.
🔔 Click here to listen and subscribe to the Modern Husbands Podcast on Spotify.