Read this post meticulously to learn about the Best Credit Cards For Excellent Credit. I have put this article together to teach you what you need to know about credit scores, Excellent credit, the benefits of the best credit cards for Excellent credit, ts and more. Join me as I divulge great value in each paragraph.
A credit card for excellent credit is a top-tier card that comes with great offers that can earn you great credit scores in the finance world.
There are some cards that you will use and with them, there is no difficulty in getting excellent credit. Some of these cards are what are usually called the best credit cards for excellent credit. And that is what the article will be discussing.
Read through them all before choosing one for yourself. However, let’s start with what excellent credit is.
What Is Excellent Credit?
A credit score is a 3 digit number that ranges from 300 to 850. When calculating your credit score, information from your credit history and payment as well as the number of debts are considered.
Credit scores are used by banks, lenders, creditors, and so on to determine if you would be able to pay back their loans or money after borrowing.
There are different models used in calculating credit scores and this determines the definition of an excellent credit score. Although the range of an excellent credit score differs, generally, it should not go below 700.
How To Qualify For Best Credit Cards For Excellent Credit.
For you to qualify for the best credit cards for excellent credit you must have the following.
- Excellent Credit History: the bank or institution would go through your credit history and calculate your credit score. If your history is excellent. Then you can get any of the best credit cards.
- Timely payments of credits: the issuing company will also make sure that before you get the credit card, you are someone who has previously been paying credits as and when due.
- A rich income: best credit cards for excellent credits are mostly issued to those of wealthy and high economic states. So to qualify for it, you must be of that status also.
How To Get The Best Credit Cards For Excellent Credit
Getting the best credit cards for excellent credit is most times not difficult. This is because qualified people who meet all the requirements are usually invited to get the card.
With this invite, they need not go through long processes. However, you can also apply to any company or institution of your choice and go through the process of filling out a form.
Which Credit Card Is The Best? 6 Best Credit Cards For Excellent Credit.
I know this is what you’ve been waiting for. Here we are going to succinctly discuss details of the 6 best credit cards for excellent credits.
Capital One Venture Rewards Credit Card
This is one of the best credit cards for excellent credit. This card is highly suitable for casual travelers who do not want to carry a balance. You will have an unlimited 2000 miles on every purchase.
It has a bonus of 60000 miles after spending $3000 on purchases for the first three months. It offers a regular APR of between 15.99 to 23.99 percent and a credit score of 700-749. No foreign transaction fees and you can transfer your miles to any travel program of your choice.
Its major con is that it has no introductory APR and had an annual fee of $95.
Capital One Savor Reward Credit Card
This is the second on my list of the 6 best credit cards for excellent credit. This card gives excellent rewards to those who have a high and active social life. That is, those who love going to bars and restaurants.
It has 4% cash back on dining and entertainment, cash back at grocery stores. You can get a $300 cash bonus once you spend $3000 on purchases for the first 3 months. It has no foreign transaction fees. However, there is an annual fee, no intro APR and has a higher standard APR.
Platinum Card From American Express
Still, on the list of the best cards for excellent credits, let’s see what platinum card has to offer. Its credit score is between 700-749. It is suitable for frequent travelers who desire to enjoy travel luxury.
When you spend $6000 on purchase for the first 6 months, you enjoy 100,000 membership reward points. You can earn up to $500,000 for flights booked with American Express or other Airlines and you get access to a comprehensive airport lounge. However, it has a high annual fee of $695 and it takes a lot of work to maximize the statement credit.
Bank Of America Premium Reward Card
This is also one of the best credit cards for excellent credits. It gives you 2 points on every dollar you spend on travel and dining.
It has incredible travel perks and 25 to 75 cashback rewards. It has no transaction fee, easy redemption of reward. Earn 50,000 online reward points ($5,000) after making a purchase of $3000 in the first 3 months.
It however, has a high penalty APR, high balance transfer fee, no airport lounge perks, and high standard APR.
Blue Cash Preferred Card For American Express
People who spend so much at Supermarkets that have stations, transit like taxis can enjoy great rewards from this card. You earn a $300 statement credit after spending 3000 dollars for purchases in the first 6 months.
It gives a 0% intro fee for one year then $95 subsequently. Cash bank is received in the form of reward dollar and can be redeemed as a statement credit. It, however, has a high cash advance fee.
Chase Sapphire Reserve
This is the last of the 6 credit cards for excellent credit that this article will be discussing. This card gives an excellent credit score of 750-850. It gives you excellent t credit if you spend frequently on travels and dining.
You get 50,000 points after spending $4000 on purchases for the first 3 months. You get 50% more value when you redeem your travel points through Chase Ultimate Rewards. It gives a $300 annual travel credit. Its major drawback is the high annual fee and high APR on purchases.
Benefits Of Best Credit Cards For Excellent Credit
You enjoy the following benefits when you have any of the best credit cards for excellent credits discussed above.
- Borrow more money at a cheaper interest rate.
- Get auto loans without stress.
- Lengthy 0% APR offer on purchase and transfer balance.
- Travel insurance
- No foreign transaction fee
- Helps you build a good reputation.
- Car rental insurance
- Airport lounge access
- Valuable Signup bonuses and many more.
Is A Credit Card For Excellent Credit Worth The Annual Fee?
In most cases, credit cards for excellent credits are worth the annual fee because they offer great rewards and help you build an excellent credit history. They offer more value than you pay for hence they are worth the annual fee.
In summary, we can see that the 6 best credit cards for excellent credit are worth having because of their features and benefits that have been started in the article so far.