If you are seeking for a new credit card, you may be attracted to go with the best one even when your credit is not the best. It is not an ideal option to try to find the card with the best rewards. Remember that when you get turned down two times or more, your credit score will be affected and that may influence on whether you can get the best credit card.
Moreover, another thing that may be influenced by your credit score is the type of credit card you can get. For instance, if your credit score is fluctuating about 600 and under, your choice would be only secured cards. On the contrary, if you get an excellent credit with a score of 750 or more, you can expect to get the best credit card with the best situation and everything is wonderful.
1. What you should expect from a credit card if you have an excellent credit
If your credit is excellent, the process of having a good credit card is not difficult at all. Actually, credit cards for those with the excellent credit come with a lot of bonuses and value if they charge more than a fixed amount during a period.
Taking as an example, if you are the one who loves travelling, you can go for a credit card offering you travel miles in case you charge a minimum of 3500 dollars within the first three months. Then you will be provided with more bonus points which are as equal as hundreds of dollars in travel special rewards.
By contrast, if travelling is not your preference, a lot of other credit cards can also offer you bonuses or rewards for one time if you can meet the required dollar amount of purchases after registering with a company. For example, you can receive a gift card as a reward for other uses cases.
Apart from such valuable bonuses for new members, customers also expect to enjoy the lowest credit card interest rates for a specific time period. Last but not least, there have been a lot of cards and rewards for people with different priorities and benefits. Thus, customers should focus on making a comparison between different cards in order to find the most suitable one.
2. The best credit cards for those with excellent credit
The first card is Chase Sapphire Preferred card, which is an ideal option for those who often travel and eat out. For the first time, the card will provide customers with 50 thousand bonus points after they have spent 4000 dollars on buying things within the first three months. In terms of rewards, customers will receive double points for their vacations and dinners at restaurants all over the world together with one point for each dollar paid for all purchases.
Among many values that you can receive from the card, the greatest one may be receiving 1:1 point transfer to loyalty programs collaborated with leading airlines and hotels. Also, you can receive 25 percent more value when you book flights, hotels as well as cards via Chase Ultimate Rewards. There are also no limitations regarding to travelling when you make a reservation through this Chase Ultimate Rewards.
Last but not least, the fee you need to pay every year is around 95 dollars while there is no requirement for foreign transaction fee, which is what many people expect for their holidays.
Another card to consider is the Platinum Card from American Express. This card has always been well – known for its ultimate in rewards. For the first use, this card will provide you with 60 thousand membership rewards points after spending 5 thousand dollars on purchases within the first three months.
Regarding to rewards, customers will receive more five times of Membership Rewards points when booking flights either directly with airlines or with American Express Travel.
Some other features include VIP status for UBER as well as free rides of up to 15 dollars each month together with 20 dollars bonus for December and many more. Last but not least, as the card comes with a lot of rewards, the yearly fee is about 550 dollars without foreign transaction fee.
3. What to expect from a credit card if you have a good credit
In case your credit score is good, which fluctuates from 680 to 749, you can expect to receive credit cards with the rather same provisions compared to other customers with excellent credit. You can definitely receive such perks, especially when it comes to travelling cards. Of course, it is not totally the same. Even if the bonuses may not include too much money, the offerings are rather beneficial for customers.
What is more, it is a necessity for customers to think of what is important to them. It may be the rewards, the bonuses or a low interest rate. For instance, if they are not sure whether they would pay their balance in full every month, a card with a low interest rate may be better even though it means that they will ignore some attractive rewards. On the contrary, if they believe they are able to pay their card balance in full in a monthly manner, a card with free rewards as well as a higher APR is better.
One of the most prominent cards for this type is Capital One Venture Rewards credit card. This is also an ideal option for those who love travelling and eating out. Within the first three months, you will receive 50 thousand bonus points for your purchases. About rewards, you will get 2X miles on each purchase and especially, 10X miles on various hotels when you make a reservation at Hotels.com.
Last but not least, you will get up to 100 dollars for your application fee to Global Entry or TSA Pre – checking. There will be no restriction to the miles that you can earn if you have an account.