Best Credit Cards for Excellent Credit – Aug 2023
Best Credit Cards for Excellent Credit - Aug 2023
The Best Credit Cards for Excellent Credit: Get Rewarded for Your Good Credit
Introduction
Having good credit is not only important for qualifying for loans and getting favorable interest rates, but it also opens up a world of benefits and rewards when it comes to credit cards. If you have a high credit score, you’re more likely to be approved for the best credit cards that come with exclusive perks and generous rewards. In this article, we will explore some of the best credit cards tailored specifically for individuals with excellent credit ratings.
The Importance of Maintaining Excellent Credit
Good credit can unlock opportunities and advantages beyond just lower interest rates. Maintaining an excellent credit score (above 800) or a very good credit score (between 740 and 799) increases your chances of getting approved for top-tier credit cards that offer high-end benefits and lavish rewards. By using credit responsibly and consistently paying your balance in full each month, you can enjoy the full range of advantages that these cards have to offer.
Choosing the Best Credit Cards for Excellent Credit
When selecting the best credit cards for excellent credit, our experts considered several factors, including ease of use, rewards earning potential, annual fees, and options for different types of consumers. We assessed dozens of popular credit cards that typically require an excellent credit score for approval. Here’s what we looked for:
- Ease of Use: Does the card make it easy to earn and redeem rewards? Are there any additional requirements, such as having an existing relationship with the bank?
- Rewards Earning Potential: Does the card offer a generous welcome bonus and useful bonus categories? Are there any restrictions or caps on earning rewards?
- Annual Fee: Many cards geared towards individuals with excellent credit charge an annual fee. We evaluated whether the benefits and rewards of each card justified the fee.
- Options for Different Types of Consumers: We selected cards that cater to various users, including frequent flyers, small business owners, and individuals looking to save on interest.
The Best Credit Cards for Excellent Credit of 2023
Here are our top picks for the best credit cards for excellent credit:
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Capital One Venture X Rewards Credit Card: Best Value
The Capital One Venture X Rewards Credit Card is considered one of the best value credit cards on the market. With a lower annual fee of $395 compared to other premium cards, it offers incredible benefits such as an annual travel statement credit of up to $300, access to luxury hotel booking programs, and airport lounge access. Cardholders also enjoy 10,000 annual bonus miles, making it a top choice for everyday spending. -
The Platinum Card® from American Express: Best for Luxury Travel Benefits
The Platinum Card® from American Express is renowned for its array of high-end benefits. Although it has a hefty annual fee of $695, the value it provides outweighs the cost for frequent travelers. Cardholders enjoy annual statement credits towards airline incidental fees and prepaid hotel bookings, access to airport lounges, elite hotel status, travel protections, and various retail benefits. The welcome bonus of 80,000 Membership Rewards® points further enhances its value. -
Chase Sapphire Preferred® Card: Best Mid-Tier Travel Card
The Chase Sapphire Preferred® Card is an excellent choice for frequent travelers who want a balance between rewards and annual fees. With a $95 annual fee, cardholders earn points at competitive rates, have quality redemption options through airline and hotel transfer partners, and enjoy essential travel benefits and other perks. The 60,000 points welcome bonus and strong earning rates make it an attractive option for everyday spending. -
Bank of America® Premium Rewards® Credit Card: Best for Cash Back Rewards
The Bank of America® Premium Rewards® credit card provides long-term value for individuals who prefer cash-back rewards and have a broader banking relationship with Bank of America. It offers 2 points per dollar on travel and dining and 1.5 points per dollar on other purchases. By becoming a Preferred Rewards customer, these rates can be boosted to competitive levels, with up to 3.5% cash back on travel and dining. -
Discover it® Miles: Best for 0% APR
The Discover it® Miles card stands out with its combination of a lengthy 0% introductory APR and rewarding spending potential. New cardholders enjoy 0% intro APR for 15 months on purchases and balance transfers, along with 1.5 miles per dollar spent. The card offers an uncapped, unlimited bonus that matches all the cash-back earned in the first year, effectively earning 3% cash back on all purchases. -
Wyndham Rewards® Earner Business Card: Best for Gas Purchases
The Wyndham Rewards® Earner Business Card is excellent for individuals who value gas purchases. Cardholders earn 8 points per dollar on Wyndham stays and gas, and 5 points per dollar on utilities, marketing, and advertising expenses. The card offers valuable welcome bonuses, anniversary bonuses, and a range of redemption options within the Wyndham Rewards program.
Conclusion
If you have excellent credit, you have access to the best credit cards on the market. These cards offer incredible rewards and benefits that can enhance your travel experiences, earn you cash back, and provide introductory 0% APR periods. Remember to use credit responsibly, pay your balance in full each month, and spend within your means to fully enjoy the advantages these credit cards have to offer. Choose the one that best aligns with your spending habits and financial goals, and reap the rewards of your excellent credit score.
Disclaimer: Please note that the information contained in this article is for informational purposes only and should not be considered financial advice. Each individual should carefully consider their own financial situation and consult with a professional advisor before making any financial decisions.
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