Are you one of the lucky few with very good credit? Congratulations! Your responsible credit habits have paid off, and now you have access to a whole new world of credit card perks and rewards. This article will explore the best credit cards for those with very good credit and how to make the most of them. So, get ready to unlock the full potential of your credit score and enjoy the benefits of having very good credit.
Credit Cards For Very Good Credit Table of Contents
What Does It Mean to Have Very Good Credit?
What Does It Mean to Have Very Good Credit?
Having very good credit means that your credit score typically falls between 740 and 799. In this range, you are considered to be a low-risk borrower, which makes you eligible for some of the best credit cards on the market, offering lower interest rates, higher credit limits, and attractive rewards and perks.
Factors to Consider When Choosing a Credit Card
Before you dive into the world of credit cards for very good credit, here are some factors you should consider:
1. Annual Percentage Rate (APR)
The APR is the yearly interest rate that you will be charged on any unpaid balance that carries over after your statement due date. Although having very good credit typically means you'll be eligible for lower interest rates, you should aim to pay off your credit card balance in full every month to avoid interest charges.
2. Annual Fees
Some credit cards charge an annual fee, while others do not. Cards with annual fees often come with more rewarding perks and benefits. You should weigh the annual fee against the potential rewards and savings you could earn from using the card.
3. Rewards and Perks
Credit cards for very good credit often come with a variety of rewards and perks, such as cashback, travel miles, or points that can be redeemed for merchandise or services. Consider your spending habits and lifestyle to choose a card that offers rewards you'll actually use.
4. Balance Transfer Offers
If you have existing credit card debt, a balance transfer offer could help you save on interest, as some cards offer a low introductory APR for a specified period. Make sure to check the balance transfer fees and terms before making a decision.
Best Credit Cards for Very Good Credit
There are plenty of credit cards that cater to people with very good credit. Here are some top picks that offer impressive benefits:
- Chase Sapphire Preferred Card: This card is ideal for travelers, offering 2x points on travel and dining, and a hefty sign-up bonus. It does have an annual fee, but the rewards easily offset the cost for frequent travelers.
- Capital One Quicksilver Cash Rewards Credit Card: This card offers a simple and straightforward cashback program with 1.5% cashback on all purchases. It has no annual fee and offers a 0% APR on purchases and balance transfers for the first 15 months.
- Discover it® Cash Back: This card offers 5% cashback in rotating bonus categories each quarter (up to a quarterly maximum) and 1% cashback on all other purchases. There is no annual fee, and Discover will match all the cashback you earn at the end of your first year.
Credit Cards For Very Good Credit Example:
Meet Jenny, a 28-year-old with very good credit. She loves to travel, dine out, and enjoys online shopping. After researching credit cards that cater to her lifestyle and specific needs, she chooses the Chase Sapphire Preferred Card for its travel rewards and the Discover it® Cash Back for its rotating 5% cashback categories. By strategically using these cards and paying off her balance in full each month, Jenny maximizes her rewards and enjoys travel perks and cashback on her everyday purchases.
Congratulations on achieving very good credit! With the right credit card, you can now enjoy the perks and rewards that come with being a responsible borrower and take your personal finance game to the next level. Feel free to share this article with friends and family who might also be interested in credit cards for very good credit, and be sure to explore other helpful guides on Flik Eco to keep your financial journey on the right track. Happy swiping!
