Having an excellent credit score is beneficial in many ways. It can open many financial opportunities for you. It also makes large purchases much easier.
Many people leverage their excellent credit to buy a home or car. However, there are more options for those with good credit.
Excellent credit gives you access to a wider range of credit cards. These cards often have better benefits and perks.
If you have excellent credit, consider applying for one of these cards. The perks can significantly improve your financial outlook.
Are Their Credit Cards for Excellent Credit?
Yes, there are cards specifically for those with excellent credit. Excellent credit is a score between 800 and 850.
These exclusive cards often have significant perks. Users enjoy lower interest or no interest at all. They may also secure more appealing rewards and longer repayment terms.
All the major credit cards companies offer cards for excellent credit.
There are other options as well, depending on your needs. If you want travel perks, for example, some cards are designed for travel. Consider multiple options before applying.
If you have excellent credit, you can apply for these cards online. You must have a credit score over 800 to qualify.
Can I Get a Lower APR Because of My Credit Score?
Generally speaking, credit scores and APR (annual percentage rate) are linked. The higher your credit score, the lower your APR will be. This means you’ll pay less in interest each year to receive credit.
To get a better APR, you need to improve your credit score. However, there is no credit score threshold to get the “best” APR. APR usually decreases as your credit score goes up.
Excellent APR is extended to those with an 850 credit score. This is the highest credit score a person can have. Some cards even offer extended 0% APR to these individuals.
Can I Expect Annual Fees?
Credit cards for excellent credit sometimes come with fees. However, these fees are quickly offset by perks. Many cards with annual fees have more significant perks throughout the year.
These fees often range from $95-$250 yearly.
Not all cards for excellent credit come with fees. In fact, some don’t have any annual fees. However, these cards often have fewer perks.
What Type of Rewards Do They Usually Come With?
As mentioned, cards for excellent credit come with a variety of rewards. Rewards depend on the card company and the type of card offer. There are reward options tailored too many different interests.
Rewards usually come in the form of points or cash back. Points can be used to buy selected items or experiences on the card. Travel is a common use for credit card points.
Cash back for excellent credit cards is usually significant. Rather than getting 1x cash back, these cardholders may get 2 or even 3x. This allows you to accumulate more money as you spend.
Airlines often offer miles for purchases with some card companies. Users can buy airline tickets with their miles.
As you can see, you can tailor your perks to your lifestyle. Some cards may offer extra cashback on certain purchase types. Look for cards that coincide with your regular purchase habits.