The Best Credit Cards for Those with Excellent Credit
The credit card industry is intensely competitive, and those with the best credit scores are going to have their pick of the top cards offered. In most cases, those with excellent credit will be looking for the card with the most valuable benefits—but there are other times when cardholders might be looking for the most competitive offer, like promotional financing or a low standard interest rate.
Here are some of the top credit cards that you should consider:
Citi® Double Cash Card
There are many cards that offer some cash back on all purchases, but the Citi® Double Cash Card from Citi, a Credit Cards House advertiser, has one of the strongest offers available to those with excellent credit. It features 2% cash back on purchases: 1% cash back at the time of purchase and another 1% cash back when the purchases are paid for. It also offers 18 months of 0% APR promotional financing on balance transfers, with a 3% balance transfer fee (after the intro period, the variable APR will be 18.49% - 28.49% (Variable) based on your creditworthiness*). Other features include an automatic waiver of your first late payment fee and several travel insurance and purchase protection policies. There is no annual fee for this card.
Barclaycard Arrival Plus® World Elite Mastercard®
The Barclaycard Arrival Plus® World Elite Mastercard® is a great travel rewards card for those with excellent credit who don't want to endure the difficulty of redeeming airline frequent flyer miles. This card offers double miles on all purchases, and miles are worth one cent each as statement credits towards travel reservations such as airfare, hotels, rental cars and cruises. And when miles are redeemed, cardholders receive 5% of their miles back towards their next redemption. In addition, new applicants can receive 60,000 bonus miles after using their card to make $5,000 in purchases within 90 days of account opening. There is an $89 annual fee for this card that is waived the first year, and no foreign transaction fees.
Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express, a Credit Cards House advertiser, offers applicants with excellent credit a way to earn bonus cash back on many of their most frequent purchases. It offers 6% cash back on up to $6,000 in annual purchases at US supermarkets, 3% cash back at US gas stations and select US department stores, and 1% cash back on other purchases.
New applicants also receive $200 in statement credit after making $1,000 in new purchases within three months of account opening. There is a $95 annual fee for this card.
Chase Sapphire Preferred® Card
If you have excellent credit and are looking for a premium travel rewards card with a more affordable annual fee, the Chase Sapphire Preferred® Card is worth a look. It offers double points for all travel and dining purchases, and one point per dollar spent elsewhere. New applicants also receive 50,000 bonus points after spending $4,000 on new purchases within 3 months of account opening. Points earned are in Chase's Ultimate Rewards® program, which offers several attractive award options. You can redeem points for about one cent in value towards gift cards, merchandise, or cash back. Alternatively, your points are worth 1.25 cents each for travel booked through Chase. Finally, you can transfer your rewards to airline miles or hotel points with 10 different transfer partners. There is a $95 annual fee for this card that is waived the first year.
Citi® Diamond Preferred® Card
Another way to leverage your excellent credit is to choose a card that features outstanding promotional financing offers. With the Citi® Diamond Preferred® Card from Citi, a Credit Cards House advertiser, new applicants receive 21 months of 0% APR financing on balance transfers completed within the first 4 months, with a balance transfer fee of $5 or 5%, whichever is greater. New applicants also receive 12 months 0% APR financing on new purchases. After the intro period, the APR will be 17.24% - 27.99% (Variable) based on your creditworthiness. And although this card doesn't offer rewards for spending, it features several valuable benefits normally reserved for premium reward cards including trip cancellation and interruption protection, as well as damage and theft protection policies. There is no annual fee for this card.
Simmons Bank Visa® Platinum
If you tend to carry a balance on your cards, having a low standard interest rate will be more valuable than earning rewards. Thankfully, those with excellent credit are able to qualify for cards with the lowest possible standard interest rate. The Simmons Bank Visa Platinum card offers a standard interest rate of 9.25%, which is currently the lowest on the market. This is a variable rate equal to the Prime Rate plus 5.00% and it could change based on changes made by Federal Reserve Bank. This card doesn't offer rewards for spending, and it has no annual fee.
If you have been diligent about paying every bill on-time and keeping your outstanding balances relatively low, you will enjoy excellent credit and be able to choose from any offer on the market.
First published , last updated
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.