Being financially responsible is a goal for most millennials, and achieving a good credit score is an essential aspect of that. If you've reached the coveted 720 credit score, you're on your way to achieving financial success! But, it's not the time to slow down. Discover the benefits of having a 720 credit score, as well as the best credit cards tailored for you. In this article, we'll explore the top credit cards available for individuals with a 720 credit score and how they can help you continue to grow your financial maturity.
Credit Cards For 720 Credit Score Table of Contents
Why a 720 Credit Score Matters
A 720 credit score puts you in a position of being considered a low-risk borrower. It's an indicator that you've been responsible with your credit, making on-time payments and keeping your balances low. Lenders, banks, and credit card issuers are more likely to approve applicants with good credit scores, and often give them better terms, lower interest rates, and exclusive perks.
Perks of a Good Credit Score
- Higher chances of loan and credit card approvals
- Lower interest rates on loans and credit cards
- More negotiating power with lenders
- Higher credit limits
- Better insurance rates
- Access to premium credit cards
Best Credit Cards for a 720 Credit Score
With a 720 credit score, you can potentially qualify for several credit cards that offer attractive rewards, low APRs, and other perks. Here are some of our favorites worth considering.
1. Chase Sapphire Preferred Card
Perfect for frequent travelers who love earning rewards on their trips, the Chase Sapphire Preferred Card offers:
- A generous sign-up bonus
- 2x points on travel and dining
- 1x points on all other purchases
- Flexible points redemption options
- No foreign transaction fees
2. Citi® Double Cash Card
If you're looking for a no-annual-fee cashback card, the Citi® Double Cash Card is a top pick. It provides:
- 2% cashback on all purchases (1% when you buy and 1% when you pay your balance)
- No limits on cashback earned
- 0% intro APR on balance transfers for 18 months (terms apply)
3. Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card offers a simple yet attractive cashback program, with:
- 1.5% cashback on all purchases
- A one-time cash bonus after meeting a spend threshold
- No annual fee and no foreign transaction fees
- 0% intro APR on purchases (terms apply)
Credit Cards For 720 Credit Score Example:
Imagine you've recently achieved a 720 credit score and are now interested in getting a credit card that rewards your financial skills. You love traveling and often dine out, so the Chase Sapphire Preferred Card seems to be an excellent fit for your lifestyle.
Upon approval, you spend the required amount within the first three months and earn a generous sign-up bonus. You also get 2x points on travel and dining and 1x point on all other purchases. When it's time to book your next trip, you redeem your points through the Chase Ultimate Rewards portal and save on costly travel expenses, guilt-free!
Congratulations on achieving a 720 credit score! As financially savvy millennials, it's important to make the most of your hard work and enjoy the benefits it offers. By selecting the right credit card, you can unlock a world of rewards and perks while continuing to build your credit.
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