Excellent Credit

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How to choose a credit card if you have excellent credit

By: Connor Wrenn

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Congratulations! All those good credit habits have landed your score in the 740-850 range. You’ve got options now, and it’s time to treat yourself!

Those with excellent credit have access to cards with lots of perks and signing bonuses not offered in other offers. These cards often reduce costs associated with various fees, and they can offer other warranties and protections.

Let’s take a look at some of the ways to maximize the benefits of your excellent credit score!

Rewards programs
The beauty of rewards programs is that they offer you monetary returns on your everyday spending. Thanks to your excellent credit score, you’ll have lots of these programs to choose from

To start, get an idea of where you spend your money when it comes to the essentials (gas, groceries, etc.) and the fun stuff (restaurants, vacation expenses, etc). If the math scares you, don’t worry; there are tools for that.

From there, you can understand what bonuses you can meet, and what rewards programs will maximize your existing spending in those categories. From there, you’ll have to decide what kind of rewards you want. Cash back programs offer a lower-fuss way to earn rewards, but those willing to pay the game of points and miles programs can save a lot of money, especially when it comes to travel.

Some cards offer rewards matching program for the first year as well. Keep an eye out for this potentially lucrative benefit

Finally, look for cards that offer flexibility for redeeming your rewards. If you decide on a cash back program, look for program that can offer a combination of statement credits, check payouts or online credits in a shopping portal. For rewards programs, watch out for blackout dates for miles and expiration dates on your points.

Balance transfer benefits

If you frequently carry a balance, your excellent credit can pay off big time when it comes to getting another card. Many offers for those with excellent credit come with an introductory balance transfer period, where you’ll temporarily pay no interest on a balance that your transfer to the new card. You could take as long as 18 months to pay off the balance with the right offer. Some offers may not even charge you a balance transfer fee, which is quite common otherwise.

To fee or not to fee?

You’ll find many rewards program come with an annual fee attached. Doesn’t seem like a good feature, right? Keep in mind, these cards are paying you back quite a bit of money. This is why doing your research is so important. The right decision can put all that fee money back in your pocket and then some, even when compared to no-fee rewards programs. That being said, if you are looking for no-fuss cash or points, there are plenty of no-fee offers out there.

Additionally, if you travel abroad often, make sure your card doesn’t apply a fee to foreign transactions. If you plan to transfer a balance, you may qualify for balance transfer offers without a fee. If you don’t, try to keep the fee as low as possible.