With a good credit score, the next step is to maximize your spending by using a rewards credit card. The credit bureaus may seem to be working against you when it comes to achieving a good credit score. However, if you put in the time and effort, you may get a credit score that is envied by many. If you have a good credit score, you may be eligible for one of the following seven high-end credit cards.
Just what is a high credit score, you might be asking. To determine your FICO credit score, a scale ranging from 300 to 850 is used. At a credit score of 800, you are regarded to have an outstanding credit history. As soon as you hit either of these milestones, you’ll likely be ready to start reaping the benefits of a credit card reward plan. How to pick the best credit card will be discussed, as well as several possible cards, in this post.
How to select the best credit card for those with excellent credit ratings
Having a good credit score might lead to an invasion of offers in the mail, making it difficult to choose the best card for you. First and foremost, think about your budgetary requirements. Do you wish to reduce your monthly expenditures? Considering credit card debt consolidation? In the near future, do you have any plans to go on vacation? In order to get the best credit card, you must first examine your financial situation and determine what needs to be met.
It’s also worth noting that no credit card can claim to be the absolute “best” or “perfect.” In order to choose a “ideal” credit card, you need to think about your financial situation. In other words, while looking for a credit card, make sure it’s one that will work with your usual costs and spending patterns. Before deciding on a credit card, consider the following features:
- Premium credit cards frequently include an introductory incentive to entice new account holders to make their first purchase. In order to get bonus points, you usually have to make a minimum purchase with the card during the first few months of ownership. These trades are critical since the early rewards are a significant part of what makes a card desirable..
- The reward rate tells you how much money you’ll get back for every dollar you put on your card. Keeping this in mind, you want to be sure that your money is being put to good use. For example, if you can earn a lot of gas rewards, but you don’t frequently fill up your tank, a different card may be preferable for you.
- Check out the card’s balance transfer rate before deciding whether or not to consolidate your current credit card debt. There are several credit cards that allow you to carry a debt without accruing interest for a short period of time.
- Having a credit card comes with an annual charge. Depending on the card, this can range from nothing to hundreds of dollars a year in fees. Be aware that if a card has an annual charge, you’ll want to make sure that you can earn enough in points and benefits to cover the cost.
- Providers of additional perks: Some cards include additional benefits that are often overlooked, including concierge services, travel insurance and rental vehicle insurance as well as warranty extensions.
The 5 greatest credit cards for those with good credit
- Blue Cash Preferred® Card from American Express
The American Express’s Blue Cash Preferred Card is an excellent option for someone who wants to earn a lot of cashback on their everyday transactions. This card, which has an annual fee of $95 (which is waived for the first year), includes a wide range of cashback categories.
You may receive 6% cash back at U.S. supermarkets (for the first $6,000 per year, after that 1X) and on U.S. streaming services, 3% at U.S. petrol stations and on qualified transportation, and 1% on other purchases with this card, which has no foreign transaction fees. In general, they are respectable cashback rates, and the incentives you accrue may really mount up over time.
As an illustration, let’s assume you spend $250 a month on groceries and $100 on petrol. You’d get 6% back on groceries and 6% back on gas, totaling $216 in cash back every year, which is enough to cover the yearly cost. In addition, this card comes with a significant sign-up bonus: After making $3,000 in purchases in the first six months, you’ll get a $300 statement credit.
- Capital One Venture Rewards Credit Card
When it comes to racking up reward points, the Capital One Venture Rewards Credit Card is a great option. Using Capital One Travel as your travel agency, you may earn 5x the miles on hotel and vehicle rental bookings and 2x the miles on all other transactions with this card. It’s a great credit card for everyday purchases when you can earn rewards like this. You may also transfer your Capital One miles to a number of other travel partners, such as airlines and hotels, directly. It doesn’t matter how you get from A to B, you may save money by using these miles in a variety of ways.
The card’s sign-up bonus might potentially get you a substantial number of points. After spending $3,000 in the first three months, you’ll receive 60,000 extra miles. In addition, this card may make your trip more pleasurable. Rental car insurance, travel accident insurance, and no foreign transaction fees are all included in the deal.
- Citi Double Cash Card
There are no spending categories to keep track of with the Citi Double Cash Card, making it a good choice for anyone who wants to get cash back on all of their transactions. Cash back on all purchases is up to two percent with this card: one percent when you buy and one percent when you pay. Over the course of a year, you may save quite a bit of money with this cash back. In addition, this card can help you save money and reach your financial objectives if you have great credit.
Also included is a $0 annual fee, a zero percent APR on balance transfers for the first 18 months, and a variable rate of 13.99% to 23.99% for balance transfers after that.
- Chase Sapphire Preferred
The Chase Sapphire Preferred may rapidly become your closest buddy if you plan on using your credit card for travel in the near future. As a travel reward credit card, it’s largely recognized as one of the best out there.
There are 5x points on Lyft rides and travel booked through Chase Ultimate Rewards with the Chase Sapphire Preferred (through March 2022). There are 3x points on eligible dining, select streaming services and online groceries. There are 2x points on travel and 1x point per $1 on all other eligible purchases. In addition to Southwest and United, Chase travel partners British Airways and Hyatt now accept these points for use on their own flights and hotels.
Your Chase Ultimate Rewards account can benefit from a large sign-up bonus in addition to the points you earn from purchases. After making purchases totaling $4,000 in the first three months, you can receive 60,000 reward points. When redeemed through the Chase travel site, those extra points are worth $750 on their own.
As a bonus, the Chase Ultimate Rewards card includes features including a $50 yearly hotel credit, trip cancellation and interruption insurance, rental vehicle insurance, luggage delay insurance and Chase purchase protection, as well as trip delay compensation. Additionally, you’ll receive 10% of the total purchases completed in the previous year as an anniversary incentive.
- The Platinum Card® from American Express
The Platinum Card from American Express is an excellent choice if you travel frequently and want to experience the more opulent side of travel. For its travel benefits, this card is a favorite of mine and my wife’s. Among the many advantages of the Platinum Card are the following:
- Uber credit of up to $200 per year is available to you.
- Priority Pass and access to the American Express Global Lounge Collection
- Passenger credit for TSA PreCheck and Global Entry
- Access to Hilton Honors and Marriott Bonvoy elite benefits for free
Insurance for rental cars
- We don’t charge you any fees for international transactions.
- To qualify for some benefits, a person must be enrolled in the program.
In addition to the benefits associated with travel, the card offers excellent earning potential. After spending $6,000 in the first six months, you’ll get 100,000 points toward your next Marriott Rewards membership. And you’ll receive 5X points every dollar spent on qualifying flights (up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, plus 1X points per dollar on all other eligible purchases.
The yearly fee for the American Express Platinum Card is $695. While it may be a hard pill to swallow, it’s possible to earn back that fee if you can regularly maximize the perks above.
The 2 best business credit cards if you have a high credit score
If you own a business, you may reap the benefits of business credit cards, which provide a wide range of benefits. Benefits like extended warranty coverage, trip cancellation insurance, and tax software integration are all available with business credit cards. It’s possible that these bonuses will help alleviate some of the pressure and allow you to concentrate on expanding your firm.
You may choose between these two business credit cards if your credit score has improved enough to warrant a new card.
- The Business Platinum Card® from American Express
Business owners with excellent credit may accrue significant points for future travel by using the American Express Business Platinum Card. A good option for those who want to buy a huge amount of anything.
For flights and prepaid hotels booked through Amextravel.com, you’ll get 5x the points, for qualified purchases of $5,000 or more, you’ll get 1.5x the points, and for all other transactions, you’ll get 1x the points. In addition, the card’s welcome incentive may be quite profitable for company owners who can satisfy the minimum spending criteria of the card. Spend $15,000 on eligible purchases during the first three months to get 120,000 Membership Rewards points.
A minimum of 95,000 American Express Membership Rewards points would be yours if you earned the entire welcome bonus. Your points might be worth up to $1,900 if they are evaluated at the maximum of two cents per point by certain travel rewards experts. Despite the $695 yearly charge, the earnings you’ll accrue will more than make up for it in the long term.
- Chase Ink Business Preferred
An excellent addition to your company, the Chase Ink Business Preferred might be this inkjet printer. If you’re looking for a way to keep track of your company’s finances while still earning rewards, this credit card is a great option.
5X points on Lyft rides are rewarded with the Chase Ink Business Preferred; 3X points are earned on the first $150,000 spent each year on travel; and 1X points per $1 is rewarded for all other purchases. A total of 450,000 Chase Ultimate Rewards would be at your disposal each year if you maximized the first category. Those points could be worth a lot of award travel, especially when you redeem them through the Chase Ultimate Rewards portal, which increases the value of your points by 25%.
Insurance for trip cancellations, phone protection, roadside assistance and extended warranty purchases are just some of the extras available to keep your business running smoothly.
Congratulations on your good credit score! With any luck, you’ll be able to use one of the cards listed above to both improve your credit score and earn rewards at the same time.
It’s acceptable if your credit score isn’t quite there yet. Even though it will take a while, you’ll be there in no time with proper money management. The best credit cards for ordinary credit can still help you earn rewards while you wait for your credit score to improve.