Finding good credit cards that fit your personal needs and your FICO score can be a challenge. As much as we’d all love to qualify for the best credit cards out there, not everyone has the credit score to pull it off. But regardless of whether your score is stellar or needs some serious work, it’s important to shop around for the card that will give you the best rewards and interest rate for your FICO score. Read on for our top credit card choices in every credit score range.
750+: Your credit score is excellent…
The Capital One Venture Rewards
This is a great card for travel rewards, earning you 2 miles for every dollar spent––a 2% rewards rate. Capital One’s No Hassle Miles can be redeemed for any travel expense. They don’t expire and there’s no cap on what you can earn. Unlike many travel cards, the Capital One Venture gives you the flexibility to fly free with any airline at any time, and there are never blackout dates.
The card fee is waived for the first year, after which there is a $59 annual fee.
The American Express Platinum
The Platinum is the cream of the crop, perfect for world travelers who enjoy luxury accommodations. Want to score $200 per year in airline fee refunds? Think you might enjoy exclusive upgrades at over 700 resorts, luxury hotels and boutiques worldwide? How about concierge service and expedited US immigration? The American Express Platinum offers all this, and more.
The card has a signing promo of 25,000 bonus points (enough for a round-trip domestic airline ticket) when you spend $1,000 in the first 3 months. The overall rewards rate is 1% on purchases, and the card has a $450 annual fee. But play your cards right, and the Platinum will more than pay you back.
630-689: Your credit score is middle-of-the-road…
The Capital One Cash
The CapOne Cash offers a 1% rewards rate on all purchases, with unlimited rewards. It also gives a 50% bonus on the cash back you earned over the year, so when all is said and done, the rewards rate actually comes in at 1.5%. There’s also a signing bonus of $100 when you spend $500 with the Capital One Cash in your first 3 months.
Rewards can be redeemed at any time and for any amount. Right now, Capital One is also offering 0% APR on purchases and transfers until September 2012. One last perk that’s just for fun: you can personalize the card with an image of your choice!
690-749: Your credit score is good…
The American Express Blue Cash Preferred
The AmEx Blue gives its biggest rewards on “everyday” purchases like groceries and gas. The card offers 6% cash back at supermarkets and 3% at department stores and gas stations. All other types of purchases earn you a flat rate of 1%. There is no cap on rewards, so you can go on earning on all your purchases throughout the year.
The Blue Cash has an annual fee of $75 and offers an introductory APR of 0% on purchases for up to 12 months.
The Chase Freedom
The Freedom offers great rewards in a wide variety of rotating bonus categories. Bonus categories change quarterly and include spending areas like dining, theaters, gas, and groceries. Cardholders earn 5% cash back in bonus categories and 1% on all other purchases. On top of this, shopping at select online retailers can earn you up to 10% cash back. The Chase Freedom has no annual fee.
629 or lower: Your credit score needs major repairs…
The Orchard Bank MasterCard
The Orchard Bank secured card has some of the lowest interest rates and fees you’ll find for a credit card for bad credit. Plus, they’ll lend to you so long as you can make the minimum deposit, so you don’t need to worry if you’ve got a really low FICO score or if you’ve just gone through bankruptcy proceedings.
The annual fee is $35, but that’s waived the first year, and the APR’s a really, really low 7.9%. Because the annual fee is waived in your first year, during which time you might be able to move on to an unsecured card, it’s got one of the lowest fees around.
Secured credit cards, those that require a deposit equal to your line of credit, can help you establish credit for the first time or build your credit up if it’s low. The Orchard Bank secured card has a minimum deposit requirement of $200.
The Capital One Secured
The CapOne Secured allows you to access credit, even with a poor credit score. The card is pre-approved, with no processing or application fees. On top of that, you can get up to a $3,000 line of credit with your refundable security deposit.
As time goes on, you may qualify for increases to your credit line without increasing your deposit. Your credit score is automatically reported to the 3 main credit bureaus.
The Capital One Secured card has a $29 annual fee and a minimum APR of 22.90%. Although there’s no rewards program, this card offers a good opportunity to work on bringing your credit score up, without being gouged with fees along the way.
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