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Excellent Credit Gets You the Best Credit Card Offers

Updated May 23, 2018
Credit Cards, Rewards Credit Cards
Excellent Credit Gets You the Best Credit Card Offers
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The point of having excellent credit is not to sit there and stare at your credit score. It’s to take advantage of the opportunities available to those who have shown they can handle credit responsibly. People with excellent credit get the best terms on financial products — the lowest interest rates, the richest rewards, the nicest perks. That’s especially true with credit cards.

If you’ve got a credit score of 720 or better, every credit card you carry should reward you for using it. Whether you want straight cash back or points or miles you can use for travel, there are great options for those with excellent credit. Many of these cards don’t even have an annual fee — and those that do have a fee more than make up for it with a jumbo sign-up bonus, generous ongoing rewards or, often, both.

Got excellent credit? Give these cards a look.

TRAVEL REWARDS CREDIT CARDS

Chase Sapphire Preferred® Card

Rewards: 2 points per $1 spent on dining and travel; 1 point per $1 spent elsewhere. Annual fee: $0 for the first year, then $95. Sign-up bonus: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®. Our take: The Chase Sapphire Preferred® Card gets thumbs up for flexibility. Points are worth 1.25 cents apiece when you use them to book travel through Chase’s online tool. You can also transfer points at a 1:1 ratio to several popular airline and hotel loyalty programs, including United, Southwest, Hyatt and Marriott.

Capital One® Venture® Rewards Credit Card

Rewards: 2 miles per $1 spent on everything. Annual fee: $0 for the first year, then $95. Sign-up bonus: Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel. Our take: It’s extremely easy to redeem rewards with the Capital One® Venture® Rewards Credit Card, relieving one of the biggest headaches of travel credit cards. Just book travel as usual, pay with your card, and then redeem your miles for a credit against travel expenses. Travel on any airline, stay at any hotel — no restrictions.

Bank of America® Travel Rewards Credit Card

Rewards: 1.5 points per $1 spent on everything. Annual fee: $0. Sign-up bonus: 20,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $200 statement credit toward travel purchases. Our take: The rewards rate on the Bank of America® Travel Rewards credit card is lower than for comparable cards, but so is the annual fee — in fact, it’s $0, so it won’t cost you anything to park this card for a while. In addition, you can get a points bonus of 10% to 75% if you’re a Bank of America® customer.

The Platinum Card® from American Express

Rewards: 2 Membership Rewards points per $1 spent on travel and 5X points for flights and hotels booked through American Express; 1 point per $1 spent elsewhere. Annual fee: $550. Sign-up bonus: Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months. Terms Apply Our take: If you prefer to travel in style, the steep annual fee on The Platinum Card® from American Express gets you a lot: free access to more than 1,000 airport lounges; up to $200 a year in credit for airline fees such as checked bags and in-flight food and drink; automatic Hilton HHonors Gold status; and a credit for the application fee for Global Entry or TSA PreCheck.

CASH-BACK CREDIT CARDS

Citi® Double Cash Card – 18 month BT offer

Rewards: 1% cash back on every purchase, plus another 1% when you pay it off. Annual fee: $0. Our take: The Citi® Double Cash Card – 18 month BT offer makes almost every list of NerdWallet’s favorite credit cards because its 1% + 1% structure adds up to the best flat cash-back rate around. Even without a sign-up bonus, this is a first-rate everyday credit card.

Blue Cash Preferred® Card from American Express

Rewards: 6% cash back at U.S. supermarkets on the first $6,000 in spending, 3% back at U.S. gas stations and select U.S. department stores; 1% everywhere else. Annual fee: $95. Sign-up bonus: $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply.  Our take: The Blue Cash Preferred® Card from American Express is ideal for families with its rich rewards on gas and groceries. Spend just $31 a week at U.S. supermarkets, and you’ll cover the annual fee. Or go for the $0-annual-fee version, the Blue Cash Everyday® Card from American Express, which offers lower rewards and a smaller sign-up bonus.

Capital One® Quicksilver® Cash Rewards Credit Card

Rewards: 1.5% cash back on every purchase. Annual fee: $0. Sign-up bonus: One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening. Our take: Simplicity is the story with the Capital One® Quicksilver® Cash Rewards Credit Card. You get unlimited cash back at a decent rate. You can redeem for any amount (many cash-back cards have minimum redemptions), and if you travel abroad, there’s no foreign transaction fee.

Chase Freedom®

Rewards: 5% cash back in categories that change every three months; 1% cash back on everything else. Annual fee: $0. Sign-up bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Our take: In years past, the 5% bonus categories on the Chase Freedom® have included such common expenses as gas, groceries and restaurants, making this a valuable addition to any wallet. Chase also offers a version of this card that gives you a straight 1.5% cash back on everything, with no bonus categories: the Chase Freedom Unlimited®.

Paul Soucy is an editor at NerdWallet, a personal finance website. Email: paul@nerdwallet.com. Twitter: @paulsoucy.