Are you tired of only getting standard benefits from your credit card? Do you have an excellent credit score and want to be rewarded for it? Then it's time to upgrade! In this article, we will review the best rewards credit cards for those with excellent credit. So, buckle up, grab a cup of coffee, and let's dive into the world of elite benefits and lucrative rewards.
Best Rewards Credit Cards For Excellent Credit Table of Contents
What Are Rewards Credit Cards?
Rewards credit cards are financial products that reward cardholders for making purchases with points, miles, or cashback. These rewards can then be redeemed for various products, services, or experiences. Rewards credit cards typically require excellent credit, but in return, they offer an impressive range of benefits and advantages.
Factors to Consider When Choosing a Rewards Credit Card
- Annual Fee: Some rewards credit cards charge an annual fee, which may offset the rewards you earn. Consider if the benefits offered by the card justify the annual fee.
- Rewards Rate: Pay close attention to the rewards rate – the percentage of each purchase that is converted into rewards points, miles, or cashback. Higher rewards rates generally lead to more rewards earned.
- Redemption Options: Consider the flexibility of redeeming rewards points. Some cards allow you to redeem points for airline miles, hotel stays, gift cards, merchandise, or even cashback.
- Signup Bonus: Many credit card issuers offer a signup bonus upon meeting a designated spending requirement within a certain time frame, adding an attractive incentive for new cardholders.
- Additional Benefits: These can include travel insurance, extended warranty coverage, airport lounge access, and more. Evaluate which benefits best suit your lifestyle.
Top Rewards Credit Cards for Excellent Credit
Chase Sapphire Preferred® Card
This card offers 2x points on travel and dining purchases and 1x points on all other purchases. The current signup bonus is a generous 100,000 points after spending $4,000 in the first three months. You can also transfer points to various airline and hotel partners, making this card great for travelers.
Capital One Venture Rewards Credit Card
Earn 2x miles per dollar on all purchases, with no blackout dates or restrictions. The signup bonus offers 60,000 miles after spending $3,000 within the first three months. Plus, enjoy perks like a statement credit for Global Entry or TSA PreCheck.
Blue Cash Preferred® Card from American Express
Perfect for families, this card offers 6% cashback on groceries, 6% cashback on select streaming services, 3% cashback on transit, and 1% cashback on all other purchases. New cardholders can earn a $300 welcome bonus after spending $3,000 in the first six months.
Citi Double Cash Card
This no-annual-fee card earns 1% cashback when you make a purchase and an additional 1% when you pay off the purchase. With its straightforward reward structure and no annual fee, it's a great option for those looking for simplicity.
Best Rewards Credit Cards For Excellent Credit Example:
Imagine you have the Chase Sapphire Preferred® Card and spend $2,000 per month on travel and dining and $1,000 per month on other purchases. In a year, you would earn 48,000 points from travel and dining and 12,000 points from other purchases, totaling 60,000 points. That amount could potentially be redeemed for up to $750 in travel, with the card's 25% more value when booking through Chase Ultimate Rewards.
Feeling overwhelmed by all the options? Don't worry – with some research and careful consideration of your spending habits and preferences, you'll find the perfect rewards credit card for your excellent credit. Remember to review the fine print and maximize the benefits offered by your chosen card. By doing so, you'll soon be enjoying the best rewards, benefits, and experiences that these credit cards have to offer.
Now that you're equipped with this vital information, why not share this article with your friends and family? They might be missing out on some fantastic credit card rewards too! And don't forget to explore other guides on Flik Eco for more tips on personal finance, investing, and success in the world of money management.