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MoneyGeek experts compared the best credit cards for people with excellent credit to find options that offer value that exceeds the fees they charge (if they charge any at all). The Chase Freedom Unlimited Card, for example, charges no annual fees and makes it to the top of the list. But the top card for you depends on your personal spending habits, and there are also several other great cards to choose from on our list. We compared card offerings based on their rewards, their initial bonus offers and the benefits they offer cardholders. The best credit cards for excellent credit that made this ranking are worth considering if you have a "good" credit score, or a FICO credit score of 670 or higher. However, you're most likely to get approved with a score over 740. As you compare the different credit cards available for those with excellent credit, make sure to note the differences between travel credit cards, cash back credit cards, balance transfer credit cards and other types of offers since these will each have their individual benefits. More about Excellent Credit The links in the table above will take you to one of our partner's sites, where you can compare and apply for a selected credit card.  Best Credit Cards for Excellent Credit in 2022The best credit card offers for excellent credit stand out in terms of their perks and rewards, although your credit must be exceptional to qualify. Read on to find out which cards we can suggest, their pros and cons and who they're best for.
Best Rewards Credit Cards for Excellent CreditWe’ve selected the top rewards cards for excellent credit based on different parameters. While factors such as reward rates and annual fees play important roles, we also pay due attention to the additional features and benefits you stand to enjoy. For example, the Amex Platinum Card offers statement credit toward payments made to several service providers. Capital One VentureOne Rewards Credit Card - Best for international travelersYou may apply for the Capital One VentureOne Rewards Credit Card if you have excellent creditworthiness with a credit score of 780 or higher. This card comes with no annual fees. You earn 5X miles per dollar on hotel and rental car bookings through Capital One Travel and unlimited 1.25X miles per dollar on all other purchases. You may redeem the miles you earn in different ways, which include paying for travel. Transferring your miles to any of over 15 travel partners is an option. Using this card outside of the U.S. comes with no foreign transaction fees. Citi Rewards+® Card - Best for earning bonus rewardsYou may qualify for the Citi Rewards+® Card with a good credit score of over 670, although an excellent credit score of 760 or higher will increase the odds of approval. This no-annual-fee card offers 20,000 bonus points if you spend $1,500 in the first three months. You earn 5X ThankYou Points per dollar on spending of up to $6,000 at restaurants during the first 12 months. You get 2X points per dollar at supermarkets and gas stations on combined spending of up to $6,000 per year. All other purchases earn an unlimited 1X points per dollar. You may redeem your points in different ways, which include paying for travel.
Best Cash Back Credit Cards for Excellent CreditThe excellent credit score credit cards we profile below let you earn cash back or points on your spending. Decide which card is for you by comparing the type of rewards they offer, the benefits you receive, annual fees and other card details. Blue Cash Preferred® Card from American Express - Ideal for earning high cash back at supermarketsYou need a good credit score of over 670 to qualify for the Blue Cash Preferred® Card from American Express, although you stand a better chance of approval with a score of over 700. As part of the card's welcome offer, you get $400 back as a statement credit if you spend $3,000 on purchases within the first six months. You get 6% cash back on spending of up to $6,000 per year on groceries at U.S. supermarkets and on select U.S. streaming subscriptions. You get 3% cash back on gas at U.S. gas stations as well as on transit. All other purchases earn 1% cash back. You may get $10 in monthly statement credits toward your Equinox+ membership each year. This card comes with a $95 annual fee. Capital One SavorOne Cash Rewards Credit Card - Best for earning cash back at grocery stores and on dining and entertainmentPeople with excellent credit scores of 780 or higher may qualify for the Capital One SavorOne Cash Rewards Credit Card. New cardholders may earn a $200 early spend cash bonus by spending $500 on purchases in the first three months. You get 3% cash back at grocery stores as well as on dining, entertainment and popular streaming services. All other purchases come with 1% cash back. You may redeem your cash back in different ways, one of which includes making travel bookings through Capital One Travel. Using this card outside of the U.S. is perfect because it charges no foreign transaction fees. This card comes with no annual fees. Blue Cash Everyday® Card from American Express - Ideal for earning cash back on gas, groceries, and online retail purchases in the U.S.You may expect to qualify for the Blue Cash Everyday® Card from American Express if you have a very good credit score of 700 or higher. This no-annual-fee card comes with a welcome offer that lets you earn $250 back as a statement credit by spending $2,000 on purchases in the first six months. You earn 3% cash back on spending of up to $6,000 on groceries at U.S. supermarkets each year. The same also applies to online retail purchases in the U.S. and on gas purchases at U.S. gas stations. All other purchases earn 1% cash back. If you spend at least $13.99 per month on an eligible subscription to The Disney Bundle, you get $7 back each month. Cardholders who purchase Home Chef meal solutions online get up to $15 in statement credits per month. Chase Freedom Unlimited - Perfect for people who use Chase Ultimate RewardsYou may think about getting the no-annual-fee Chase Freedom Unlimited Card if you have a good credit score of 670 or higher, although you stand a better chance with a score of over 700. This card comes with a spend-based welcome offer and also gives you the ability to earn higher cash back during the first year. You earn 5% cash back on travel purchases made through Chase Ultimate Rewards. You get 3% cash back on dining at restaurants (including takeout and eligible delivery services) and on drugstore purchases. All other purchases earn 1.5% cash back. Using your cash back to make travel bookings through Chase Ultimate Rewards is an option. Capital One Quicksilver Cash Rewards Credit Card - Perfect for earning unlimited cash back on every purchaseYou may qualify for the Capital One Quicksilver Cash Rewards Credit Card with an excellent credit score of 780 or higher. Spending $500 on purchases in the first three months comes with a $200 early spend cash bonus. All purchases earn unlimited 1.5% cash back. You may use your cash back to make travel bookings through Capital One Travel. Using this card to make purchases outside of the U.S. is ideal because it comes with no foreign transaction fees. This card does not charge any annual fees. Citi Custom Cash℠ Card - Great for earning high cash back in your top spending categoryWhile you might qualify for the no-annual-fee Citi Custom Cash℠ Card with a good credit score of 670 or higher, there's a better chance of approval if your score is over 720. If you spend $750 on purchases in the first three months, you get $200 cash back. You earn 5% cash back on spending of up to $500 in your highest eligible spend category every billing cycle. The categories include grocery stores, gas stations, restaurants, drugstores, live entertainment, fitness clubs, home improvement stores, select travel, select transit, and select streaming services. All other purchases earn unlimited 1% cash back. You may redeem your cash back in different ways through the Citi ThankYou rewards program. Wells Fargo Active Cash® Card - Perfect for earning high cash back on all purchasesWells Fargo makes the Active Cash Card available to people with good credit scores of over 670, and you stand a better chance of qualifying if your score is over 700. Spending $1,000 on purchases in the first three months comes with a $200 cash rewards bonus. You earn unlimited 2% cash back on all purchases. You may redeem your cash back in different ways, which includes cash redemptions at ATMs. American Express Cash Magnet® Card - Ideal for earning cash back across all categoriesA good credit score of 670 or higher might help you qualify for the American Express Cash Magnet® Card, although you stand a better chance with a score of over 700. You stand to earn a $200 statement credit as a welcome bonus if you spend $2,000 on purchases in the first six months. All purchases you make using this card earn 1.5% cash back. This card comes with no annual fees. Other Cards That Reward Great Credit Tips for Comparing New Cards & Offers When You Have Exceptional CreditWhen your credit score is in great shape, you can usually have your pick of the best credit cards for people with excellent credit. Still, you should decide what you hope to accomplish so that you can figure out which type of credit card might serve you best. Factors to compare include: Not all credit cards for excellent credit charge an annual fee, but many with lucrative cardholder benefits do. Make sure you compare the best credit cards for excellent credit in terms of the fees they charge, and only pay an annual fee if the perks are worth it. Whether you want to earn flexible rewards, travel rewards points or cash back is a personal decision. Compare rewards programs among the best credit cards for people with excellent credit until you find the right fit. Rewards credit cards often dole out bonus points in specific categories, and these bonus earning rates can help you maximize your rewards. Make sure you pick a rewards credit card with an earning rate that aligns with your spending. Many credit cards for excellent credit offer generous bonuses worth $500 or more when you meet a minimum spending requirement within the first few months of account opening. Check for cardholder perks you might care about, which could include annual travel credits, airport lounge membership, elite status at hotels and more. Finally, check which cards offer introductory rates for purchases, balance transfers or both. Introductory APR offers can help you save on interest if you use them wisely. MONEYGEEK QUICK TIP: If you're eager to learn more about the best credit card offers for excellent credit, the internet provides a treasure trove of data. You can:
The Perks of Having Excellent Credit HistoryHaving good or excellent credit makes managing your finances significantly easier. People with great credit don't have to struggle to borrow money when they need it, and they get their pick of the top rewards credit cards. Not only that, but consumers with excellent credit also qualify for better credit card fees and interest rates, as well as targeted credit card offers the general public never sees. HOW CREDIT IMPACTS FINANCIAL DECISIONS What better credit means for credit cards The best credit cards for people with excellent credit come with more lucrative rewards rates and sign-up bonuses, but that's not all. These cards may also extend 0% APR on purchases, balance transfers or both for a limited time, and they tend to come with the most generous travel benefits and insurance protections. By contrast, credit cards for fair credit or bad credit tend to offer fewer benefits — or no benefits at all. They also tend to charge higher annual fees and interest rates that can make having poor credit expensive and stressful. Other impacts of excellent credit Excellent credit also paves the way to better terms on other financial products, such as mortgages, auto loans and personal loans. Individuals with excellent credit are more likely to be approved when they seek to borrow money, and they get overall lower interest rates and better loan terms. Excellent credit can help individuals qualify for preferential insurance rates and may even help them land a job if an employer asks to see a modified version of their credit report for hiring purposes. How Credit Card Options Change By Credit Score & HistoryThe selection of credit cards you're eligible for will depend largely on your credit score and your credit history. However, it's not surprising that cards with the best rewards and terms go to those with excellent credit scores. This includes cards with the most lucrative rewards schemes, sign-up bonus offers and cardholder perks. According to the Federal Reserve, the average credit card interest rate was 14.75% as of February 2021. However, individuals with fair credit are typically eligible for offers with considerably higher rates. For example, the Capital One QuicksilverOne Cash Rewards Credit Card is marketed to people with "fair" credit, and thus it comes with a variable APR of 26.99%. Meanwhile, the Capital One Quicksilver Cash Rewards Credit Card for people with excellent credit comes with an introductory APR offer, followed by a variable APR of 15.49% to 25.49%. How to Maximize/Take Advantage of Your Excellent Credit ScoreHaving excellent credit takes time and work, but you'll reap plenty of benefits once you reach the threshold for good credit or an exceptional credit score. Here's how you can maximize the status you have worked so hard to earn.
MONEYGEEK QUICK TIP: According to Nationwide Insurance, 92% of U.S. insurers use credit scores when calculating auto insurance premiums. MoneyGeek’s analysis on how credit scores impact insurance premiums revealed that average insurance premiums among people with poor credit and good credit can differ by more than $1,000 per year. How to Get an Excellent Credit ScoreIndividuals with excellent credit don't need to reach a specific income threshold or come from a certain type of background. To get an excellent credit score, all you need to do is take on a handful of habits that let the credit bureaus know you take your financial health — and your credit — seriously. For example, you should strive to pay your bills early or on time, keep revolving debt at a minimum and refrain from opening or closing too many accounts. Generally speaking, people who have made credit mistakes in the past may need to spend a year or longer fixing their credit. Picking up a credit card for fair or poor credit or even a secured credit card can help in that effort since monthly payments and overall credit history will be reported to the three credit bureaus, thus helping to boost your score. Ideally, you will use an inferior credit card until your credit has improved enough to qualify for one of the best credit cards for excellent credit. If you have a thin credit profile, on the other hand, you may be able to begin working toward good credit over the span of several months. Once again, a credit card for fair credit or a secured credit card can help you build your credit history so you can qualify for better rewards credit cards later on. Maintaining an Excellent Credit ScoreOnce you have great credit, most of the hard work has already been done. At this point, all you have to do is stay the course, treat your credit with care and avoid common credit mishaps that can cause your score to plummet. How do you maintain excellent credit once you get there? These tips can help:
How We Rank Credit Cards for Excellent CreditOur lists of the best credit cards are based on publicly available data from card issuers and other reputable sources like the Consumer Finance Protection Bureau. We review each card's fees, interest rates, rewards, benefits and more to assign a rating for each feature. These ratings are stack ranked and weighted for each card category to determine our top selections for each type of user. Because card details change regularly, we revisit our data each month to update our ratings, recommendations and other card information as needed. Learn more about our data collection and ranking process. FAQs About Credit Cards for Excellent CreditThe best credit cards for excellent credit offer exceptional rewards and perks you can use, but that's not all. They can also help you build or maintain great credit you can benefit from for the rest of your life. The following questions and answers can help you learn more about building and maintaining excellent credit, as well as finding the right credit card. Why is my credit score different in TransUnion, Equifax and Experian?Each credit bureau assigns you a credit score based on information in their individual reports, and the data they receive and keep in your file isn't always the same. As a result, you may have a different credit score with each of the three credit bureaus. Is Credit Karma an accurate credit reporting company?Credit Karma is a reputable company that offers users a free look at their credit scores and reports from Equifax and TransUnion. However, the scores you see use the VantageScore 3.0 scoring model. >> More: Understanding Your Annual Credit ReportDo I have to maintain an excellent credit score to keep my card?Is there a higher tier than excellent credit?When it comes to FICO credit scores, the top tier of credit is considered "exceptional," and it includes scores between 800 and the top score of 850. Is it smart to have more than one credit card? (adsbygoogle = window.adsbygoogle || []).push({});Having more than one credit card lets you maximize rewards on your spending while becoming eligible for a wider range of cardholder perks. How many credit cards should I have for excellent credit?The number of credit cards you have doesn't impact your credit score, but the way you use your credit cards does. To have excellent credit, you need to pay bills on time, keep debt levels on the low side and monitor your credit score over time. Do credit cards for those with excellent credit have a lower or higher interest rate?Can your excellent credit score be impacted negatively by identity theft?Identity theft can damage your credit score if you're not paying attention. You should strive to protect yourself and your personal information from identity theft if you want to keep your credit score in the best possible shape. Can your credit score be impacted by divorce?Divorce doesn't directly affect your credit score, but the financial implications of divorce can. For example, your credit score may be negatively impacted if your debt levels rise as the result of a divorce. How badly does bankruptcy impact your credit score?Bankruptcy can cause catastrophic damage to your credit score for years to come. Chapter 13 bankruptcy can linger on your credit reports for 7 years, and Chapter 7 bankruptcy stays on your credit reports for 10 years. Why do credit scores fluctuate so much?Credit scores can go up or down over time based on information that shows up in your credit reports. For the most part, you don't need to worry about day-to-day fluctuations or short-term trends in your score. The best credit cards for people with excellent credit are constantly changing and evolving. With that in mind, you should check this page frequently for updated information on new cardholder perks, rewards rates and bonus offers. Also make sure you take special care to maintain the excellent credit you have worked so hard to earn. By paying bills on time, avoiding too much debt and keeping an eye on your credit reports, you can benefit from your excellent credit for years or decades to come. Tips From The Pros: Credit Cards for Those With Excellent Credit
Harry P. Bowen, Ph.D. Professor, McColl School of Business at Queens University of Charlotte READ ANSWERSEmily Carlson Goenner Assistant Professor, Herberger Business School at St. Cloud State University READ ANSWERSSteven Cox, PhD Professor at the McColl School of Business at Queens University of Charlotte READ ANSWERSDr. Aniruddha Pangarkar Assistant Professor of Marketing at the University of Wisconsin-Green Bay READ ANSWERSDr. Yibing Du Clinical Assistant Professor at The University of Texas at Arlington READ ANSWERSKenneth Romanowski, CFP®, CTFA, MBA Adjunct Faculty, Rosemont College and Semi-Retired Senior Financial Advisor READ ANSWERSMichael Peek, CFP® Advisor on the Gast Freeman Team at Moneta Lambrianos Nikiforidis, Ph.D. Assistant Professor of Marketing at SUNY Oneonta READ ANSWERSWayne Gawlik Professor and Dollars and $ense Advisor at Joliet Junior College READ ANSWERSS. Abraham Ravid Sy Syms Professor of Finance, Sy Syms School of Business at Yeshiva University READ ANSWERSBlain Pearson Professor of Practice at Kansas State University READ ANSWERSMargo Berman Professor at Florida International University READ ANSWERSDr. Steven Kozlowski Assistant Professor in the Finance Department at Fairfield University’s Dolan School of Business READ ANSWERSHugo Benitez-Silva Associate Professor and Chair of the Department of Economics at Stony Brook University READ ANSWERSDr. Kent Belasco Director of Commercial Banking Program at Marquette University READ ANSWERSSiamak Javadi Assistant Professor at The University of Texas Rio Grande Valley READ ANSWERSAdam Sanders Financial Educator, Founder and Director at The Relaunch Pad READ ANSWERSAdel Varghese Instructional Associate Professor at the Department of Economics, Texas A&M University READ ANSWERSDr. Rebecca J. Davis Assistant Professor in the Economics and Finance Department at Stephen F. Austin State University READ ANSWERSKashif A. Ahmed Financial Planner, Professor of Finance at Suffolk University READ ANSWERSDr. Geo Kelly Assistant Professor of Marketing at Southwestern Oklahoma State University READ ANSWERSLatisha Nixon-Jones Assistant Professor of Law READ ANSWERSJosiah R. Baker Nimocks Professor of International Business, Professor of Financial Economics at Methodist University What credit card gives you the highest available credit?On our list, the card with the highest reported limit is the Chase Sapphire Preferred® Card, which some say offers a $100,000 limit. We've also seen an advertised maximum credit limit of $100,000 on the First Tech Odyssey Rewards™ World Elite Mastercard®, a credit union rewards card.
How rare is an 800 credit score?This score isn't perfect, but it places you in the exceptional credit score range. That's the highest tier of FICO® Scores☉ , which are used by 90% of top lenders. Having an 800 credit score or better is fairly uncommon: Only 23% of all consumers have FICO® Scores of 800 or higher.
What can I get with excellent credit score?What are the biggest advantages of a good credit score?. You'll have an easier time renting an apartment. ... . You'll get the best rates on car and homeowners insurance. ... . It's cheaper to borrow money. ... . You'll be better prepared for the future. ... . You can access perks and enjoy the best rewards.. What are the top 4 credit cards?Best credit cards of 2022. Citi Premier® Card: Best for good credit.. Capital One Platinum Credit Card: Best for fair credit.. Discover it® Secured Credit Card: Best for no credit history.. Discover it® Student Cash Back: Best for students.. Capital One Platinum Secured Credit Card: Best for bad credit.. |
Best credit cards 2022 for excellent credit
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