If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
It can take years to build up a high credit score, but that work can pay off big time. An excellent credit score is the key to unlocking all manner of credit perks, not the least of which is having your pick of the best credit cards around. Want a luxury travel rewards card to earn miles to cover airfare? How about high-rate cash back credit cards? Maybe a 0% intro APR deal? With excellent credit, the card perks and possibilities are endless.
The downside to those endless possibilities is needing to pick a card. We chose the cards on our list based on their best-in-class rewards or perks. They include some of our favorite travel rewards cards, as well as top-tier cash back options. We also picked cards that trade rewards for some of the longest intro APR offers we could find. And we went for a healthy mix of cards with and without annual fees.
Bank of America® Travel Rewards credit card
Great for: Travel card with no annual fee
On Bank of America's Secure Website.
On Bank of America's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
18.24% - 28.24% (Variable)
Rewards
1.5 points per dollar
Annual Fee
$0
Welcome Offer 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
25,000 points
No annual fee travel cards typically skimp on the sign-up bonus, but this card delivers with its intro bonus offer, unlimited rewards on purchases, and a generous 0% intro offer on purchases and balance transfers. Read Full Review
Chase Sapphire Preferred® Card
Great for: Travel and points transfers
On Chase's Secure Website.
On Chase's Secure Website.
Good/Excellent (670-850)
Regular APR
21.49%-28.49% Variable
Rewards Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, and 2x on all other travel purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.
1X-5X points
Annual Fee
$95
Welcome Offer Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
60,000 bonus points
With a big sign-up bonus, the sky's the limit for this top-rated travel rewards card. Plus, the premium points program for travel and dining offers even more value for travel enthusiasts everywhere. Read Full Review
Great for: Travel and dining
On Chase's Secure Website.
On Chase's Secure Website.
Good/Excellent (670-850)
Regular APR
22.49%-29.49% Variable
Rewards 5x points on flights and 10x points on hotels and car rentals through Chase Ultimate Rewards®. 3x points on travel and other dining. 1x points on all other purchases.
1X-10X points
Annual Fee N/A
$550
Welcome Offer Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®
60,000 bonus points
The sign-up bonus, premium rewards for travel and dining, and a wide array of travel benefits give this card quite a bit of value. Read Full Review
Blue Cash Preferred® Card from American Express
Great for: U.S. supermarkets and U.S. gas stations
On American Express' Secure Website.
Terms apply
On American Express' Secure Website.
Terms apply
Good/Excellent (670-850)
Intro APR
Purchases: 0%, 12 months
Balance Transfers: 0%, 12 months
Regular APR
19.24%-29.99% Variable
Rewards 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases.
1% - 6% cash back
Annual Fee
$0 intro annual fee for the first year, then $95.
Welcome Offer Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
$250
The U.S. supermarkets and U.S. gas stations rewards are clear standouts, in addition to a big welcome offer and a nice 0% intro APR offer. Read Full Review
The Platinum Card® from American Express
Great for: Premium travel
On American Express' Secure Website.
Terms apply
On American Express' Secure Website.
Terms apply
Good/Excellent (670-850)
Intro APR
Purchases: n/a
Balance Transfers: n/a
Regular APR
See Pay Over Time APR
Annual Fee
$695
Welcome Offer Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.
80,000
The high annual fee is justifiable for frequent travelers who can take full advantage of a deep bench of valuable perks, including the big welcome offer, robust rewards, and lucrative annual travel credits. Read Full Review
Great for: Dining and U.S. supermarkets
Good/Excellent (670-850)
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
See Pay Over Time APR
Rewards Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
1X-4X Membership Rewards® Points
Annual Fee
$250
Welcome Offer Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
60,000
The welcome offer, plus lucrative rewards at restaurants, U.S. supermarkets, and on travel more than justify the annual fee for consumers who spend heavily in these areas. Read Full Review
Great for: 0% intro APR offer and no late payment fee
On Citi's Secure Website.
On Citi's Secure Website.
Good/Excellent (670-850)
Intro APR
Purchases: 0%, 12 months
Balance Transfers: 0%, 21 months
Regular APR
19.24% - 29.99% (Variable)
Rewards
N/A
Annual Fee
$0
Welcome Offer There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening.
Lower intro balance transfer fee
With a long 0% intro APR offer, no late fees, no annual fee, and no penalty rate, this card is an unmatched pick. Read Full Review
Bank of America® Customized Cash Rewards credit card
Great for: Bonus cash back of your choice
On Bank of America's Secure Website.
On Bank of America's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
18.24% - 28.24% (Variable)
Rewards 3% cash back in your choice category, 2% at grocery stores & wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% on all other purchases.
1% - 3% cash back
Annual Fee
$0
Welcome Offer $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
$200
Includes a big welcome offer, a long 0% intro APR, and a flexible cash rewards program that enables you to earn premium rewards in a category of your choice. Read Full Review
U.S. Bank Visa® Platinum Card
Great for: Long 0% intro APR offer
Good/Excellent (670-850)
Intro APR 0% on purchases and balance transfers for the first 21 billing cycles on purchases billing cycles, and after that 18.74% - 29.74% (Variable).
Purchases: 0%, 21 billing cycles on purchases
Balance Transfers: 0%, 21 billing cycles
Regular APR
18.74% - 29.74% (Variable)
Rewards
N/A
Annual Fee
$0
Welcome Offer
N/A
With a generous intro APR offer for both balance transfers and purchases, this is one of the best low interest credit cards we've come across.
With excellent credit, you can get just about any credit card you like, which can make it hard to pick the right one from all the options. When comparing credit card offers, you'll need to consider what you want out of your credit cards.
While folks with average or low credit scores are limited in the cards they can get, applicants with excellent credit aren't limited by their own creditworthiness. Here's a look at just a few of the best credit cards available to you when you have excellent credit.
Great for: Transferable points and benefits
The Chase Sapphire Preferred® Card is a mid-tier travel rewards card that can earn a slew of bonus points on travel and dining purchases for a low annual fee. Users earn Ultimate Rewards points, which are valuable rewards that can be transferred to Chase travel partners.
Read the full Chase Sapphire Preferred® Card review
Great for: Travel rewards and perks
The Chase Sapphire Reserve® is a premium travel rewards card that earns 3x Ultimate Rewards points per dollar on travel and dining purchases. The annual fee is steep ($550) but cardholders enjoy a plethora of travel perks, including an annual travel credit, airport lounge access, and trip insurance.
Read the full Chase Sapphire Reserve® review
Great for: U.S. supermarkets and streaming rewards
The Blue Cash Preferred® Card from American Express is one of the best everyday rewards cards around, offering 6% cash back on up to $6,000 in U.S. supermarkets purchases each year. The card also offers 6% back on select U.S. streaming services, as well as 3% back on transit purchases and at U.S. gas stations. Terms apply.
Read the full Blue Cash Preferred® Card from American Express review
Great for: Travel rewards and lounge access
The Platinum Card® from American Express is a top-rated travel card that offers high rewards rates on select hotel and airline purchases, as well as a ton of travel perks. Users get $200 in annual Uber Cash, access to more than 1,400 airport lounges across 140 countries, and hotel elite status. Select enrollment required, terms apply.
Read the full The Platinum Card® from American Express review
Great for: Travel rewards with no annual fee
The Bank of America® Travel Rewards credit card is a no annual fee travel rewards card that provides unlimited 1.5x miles per dollar on purchases. However, miles can't be transferred between airline partners; instead, they're redeemed for statement credits to cover travel and dining purchases.
Read the full Bank of America® Travel Rewards credit card review
Great for: Restaurants and U.S. supermarkets rewards
The American Express® Gold Card is ideal for foodies of all kinds, offering 4x Membership Rewards points per dollar at U.S. supermarkets (on up to $25,000 in eligible purchases), as well as 4x points per $1 at restaurants. Users also get $120 in annual dining credits and in annual Uber Cash. Select enrollment required, terms apply.
Read the full American Express® Gold Card review
Great for: 0% intro APR offer and no late payment fee
The Citi Simplicity® Card packs in one of the best 0% intro APR offers we've come across for balance transfers -- 21 months of no interest from the date of the balance transfer, after a balance transfer fee of 3% ($5 min) for first 4 months, then 5% ($5 min.) Other card offers include no late payment fee and no penalty APR.
This content is not provided by the issuer. Any opinions expressed are those of The Ascent alone, and have not been reviewed, approved or otherwise endorsed by the issuer
Read the full Citi Simplicity® Card review
Great for: Choosing your rewards
The Bank of America® Customized Cash Rewards credit card lets cardholders choose their own 3% cash back rewards category from a list of options that includes travel, gas, and drugstores. You'll also earn 2% back on groceries and at wholesale stores. Bonus rewards are capped at $2,500 in purchases each quarter.
Read the full Bank of America® Customized Cash Rewards credit card review
Great for: Choosing your rewards
The Bank of America® Premium Rewards® credit card earns 2 points for every $1 spent on travel and dining, plus 1.5 points everywhere else. For the low annual fee ($95), the card excels big time with its $200 in travel statement credits and the 25% to 75% bonus point bump for Preferred Rewards members.
Read the full Bank of America® Premium Rewards® credit card review
Great for: Long 0% intro APR offers
The U.S. Bank Visa® Platinum Card has one of the longest 0% intro APR offers we've come across, at 21 billing cycles for both purchases and balance transfers.
Read the full U.S. Bank Visa® Platinum Card review
The exact definition of an excellent credit score will vary based on the credit scoring model and the lender. That said, your score is generally considered excellent if it falls within the top 10% of whatever scoring model is being used.
LEARN MORE: Complete Guide to Understanding Your Credit Score
The majority of lenders use some version of a FICO® Score when evaluating your credit. Most FICO® Score models use a range of 300 to 850, with 850 being the highest possible score. So, a FICO® Score of 800 to 850 would definitely be considered an excellent credit score. However, in practice, any score over 780 will likely qualify you for most credit products.
An excellent credit score comes with a ton of benefits and upgrades, many of which can save you money. Let's take a look at a few of them.
We've all had that edge-of-our-seat wait while a credit card or loan application is being evaluated. But having excellent credit can help you feel more confident when you click "Apply."
It's worth noting that excellent credit isn't a guarantee of approval. Issuers could still reject your application for any number of reasons. For instance, if your income is too low to qualify for the card's minimum credit limit, you may be declined. And some issuers will turn you down for a new card if you've opened too many other card accounts in the last year or two. (Chase is notorious for this!)
LEARN MORE: The Chase 5/24 Rule
Your credit score has a huge impact on the interest rate you're charged by various credit products, including:
The better your credit, the lower the interest rate you'll be charged. This can easily save you thousands of dollars over the course of a loan, especially long-term loans like home mortgage loans.
LEARN MORE: How Credit Card Interest Works
Although we often associate credit scores with products like credit cards and loans, lots of places will check your credit before doing business with you. This can include:
With excellent credit, you're less likely to have to put down a deposit to open an account or sign a rental lease. Even if you do need to make a deposit, chances are good it will be much lower than would be required if you had a lower credit score.
Your income certainly plays a role in how much credit you can get. However, having an excellent credit score will go a long way toward being approved for higher credit limits. This can mean higher credit limits on your credit cards, as well as the ability to get approved for larger loans.
RELATED: Best High Limit Credit Cards
We've found reports of people getting credit card limits of $50,000 or more at approval. Excellent credit can help you after the fact, too. Improving your credit score can get you credit limit increases on your existing cards.
LEARN MORE: How to Increase Your Credit Limit
The credit card market is bursting with different types of credit cards, so there's no "best" credit card for everyone. The best card for you will depend on factors like your spending habits and the type of rewards you want to earn.
LEARN MORE: How to Choose a Credit Card
Happily, when you have excellent credit, you can take your pick of just about any credit card you want. This includes credit cards for good credit, as well as premium options reserved for those with the best credit scores.
For example, if you want to earn travel rewards, you could choose one of the top-tier travel cards like the Chase Sapphire Reserve® or the The Platinum Card® from American Express. On the other hand, folks who want to maximize their everyday purchases would likely enjoy the Blue Cash Preferred® Card from American Express or the American Express® Gold Card.
LEARN MORE: The Best Travel Rewards Credit Cards
Building an excellent credit score takes several years of responsible credit use, including paying your debts on time every month, keeping low balances, and being cautious about opening new credit. To get a better idea of what's involved in understanding your credit score, let's look at the five factors that go into your FICO® Score calculation.
Making your debt payments on time is the most important part of your credit score, and it is worth 35% of your FICO® Score. Any credit card or loan payment more than 30 days past due can be reported to the credit bureaus as delinquent, which will damage your credit score. To get full marks, be sure to make every credit card and loan payment on time, every single month. You can set up automatic payments on your debts to help ensure you never miss a payment.
This is worth 30% of your FICO® Score and it considers both how much total debt you have and your credit utilization ratio, which is the combined credit limits of all your cards compared to how much in total you owe on your cards. Your credit utilization ratio is calculated by dividing your balance by your available credit. For example, a credit card with a $1,000 balance and a $5,000 credit limit has a utilization rate of 20%: $1,000 / $5,000 = 0.2 = 20%. Ideally, you want your utilization to stay below 10%. At the very least, avoid maxing out your credit cards, as that will cause your utilization to skyrocket -- and your credit scores to drop.
How long you've been building credit plays a big role in your credit score, weighing in for 15% of your score calculation. The longer your positive credit history, the better you'll do in this factor. Building credit early and keeping older credit card accounts open when possible are the best ways to improve this factor. Outside of that, it just takes time.
The entire point of your credit history and score is to show lenders you can handle credit responsibly. One way to show this is with a healthy credit mix of different credit types, such as having both loans and credit cards. Even having multiple credit cards can contribute to your credit mix, as it shows you can handle several lines of credit at one time.
Each time you apply for a new credit product, the lender will perform a hard credit check. These credit inquiries are logged on your credit report, as are any new accounts you open. Having too many hard credit inquiries -- or too many new accounts -- on your report can indicate you plan to take on a lot of new debt, which makes lenders nervous. The best way to keep this factor in good shape is to wait at least a few months between new applications.
We put together a brief list of different card types to help you get started:
If you want travel rewards:
If you want grocery and U.S. supermarkets rewards:
If you want flat-rate rewards:
If you want a 0% intro APR:
If you want a $0 annual fee:
There is so much hype placed on your credit scores that it can seem like the only factor when it comes to applying for a card. But most of us in the credit card game have been turned down for a card at least once, despite having great credit scores.
Why does it happen? Your credit score is just one of the things issuers consider when you apply for a new card. Many other factors can also play a role, including:
Any of these things (or something else entirely) could be behind your rejection. In most cases, the issuer will send you a letter telling you why you were turned down. If you need more information, contacting the issuer may also shed some light on the situation.
Card | Rating | Great For |
---|---|---|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: Travel card with no annual fee |
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: Travel and points transfers |
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: Travel and dining |
|
|
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: U.S. supermarkets and U.S. gas stations |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: Premium travel |
|
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: Dining and U.S. supermarkets |
Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: 0% intro APR offer and no late payment fee |
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: Bonus cash back of your choice |
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: Bank of America loyalists |
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Great For: Long 0% intro APR offer |
You can take your pick of most credit cards when you have excellent credit, so choosing one really comes down to what you need from your new card. You'll want to consider the type of rewards it earns, as well as the rewards rates and any cardholder perks. You should also look at the annual fee and interest rates.
For example, if you travel frequently, you'll likely want to focus on cards that earn transferable travel rewards and that offer bonus rewards on travel purchases. On the other hand, if you spend a lot on groceries or dining, look for cards that offer high rewards rates on those purchases.
While you only need one credit card to build credit, having multiple cards could help you maintain an excellent score. Multiple credit card accounts can boost your credit limits and help you keep a low credit utilization low, which makes up a large portion of most credit scores.
Our Credit Cards Experts
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
For rates and fees for the American Express® Gold Card, click here
For rates and fees for the Blue Cash Preferred® Card from American Express, click here
For rates and fees for the The Platinum Card® from American Express, click here
The Motley Fool owns shares of and recommends Visa. The Motley Fool recommends Amex.