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People with Excellent Credit Should Have One of These 9 Cards
While most people know having excellent credit saves money on everything from mortgage rates to insurance, many fail to cash in on one of excellent credit’s best benefits – lucrative credit card sign-up incentives.
Our resident credit card expert – a millennial who holds over 20 credit cards – has put together a list of the best deals presently available from our partners.
BankAmericard® Credit Card
BankAmericard® Credit Card isn’t a rewards credit card, but it deserves mention here because it offers an extremely lengthy 0% introductory offer on balance transfers made in the first 60 days that lasts for 15 billing cycles. This can be a huge money saver for consumers with excellent credit who carry balances on high rate credit cards as savings can easily exceed $100 for every $1,000 of debt transferred from a card with a 15% or higher interest rate. This card also offers a $0 Intro Balance transfer fee during first 60 days of account opening. After that, the fee for future balance transfers is 3% (min. $10).
BankAmericard Travel Rewards® Credit Card
The BankAmericard Travel Rewards® Credit Card stands out by offering 1.5 points for every dollar you spend on purchases. This is the highest rewards rate of any no annual fee travel reward credit card. This feature alone makes this card a great deal, but it is the huge 20,000 online bonus points you can earn if you spend $1,000 on purchases in the first 90 days that makes this card a standout, as that 20,000 point bonus can be redeemed for a $200 statement credit against any travel purchase you make on the card. Additionally, this card charges no foreign transaction fees. This saves you the typical 3% most credit cards charge on international transactions. Lastly, the BankAmericard Travel Rewards® Credit Card offers a 0% introductory interest rate on purchases for 12 billing cycles, which provides yet another way to save.
Chase Sapphire Preferred® Card
Chase Sapphire Preferred offers 50,000 bonus points to new card members who spend $4,000 within 3 months of opening a new account. These points are worth $625 when you redeem them for travel through Chase Ultimate Rewards®. However, this card does carry a $95 annual fee. Fortunately, the fee is waived during the first year, so cardholders essentially get a free year to evaluate whether or not this is the right card. As for earning potential, the majority of purchases earn 1 point per dollar, while travel and dining purchases pull in 2 points per dollar.
Chase Freedom Unlimited℠
The Chase Freedom Unlimited℠ card offers about 50% more rewards than the average card by providing 1.5% cash back on all purchases. Rewards earned with this card can be easily redeemed for cash as there are no minimums and rewards don’t expire as long as your credit card remains open. Additionally, new applicants can earn a $150 bonus if they spend $500 on purchases during the first 3 months of card membership. Lastly, this card offers a generous 0% introductory APR on purchases and balance transfers lasting 15 months, making this a great option for people who stand to save on interest expenses.
BankAmericard Cash Rewards™ Credit Card
The BankAmericard Cash Rewards™ Credit Card is an excellent no annual fee cash back credit card that provides additional value by offering a 0% introductory interest rate on purchases and qualifying balance transfers for 12 billing cycles. In terms of rewards, this card offers a fairly standard 1% cash back on every purchase, but excels by offering 3% cashback on gas and 2% cash back at grocery stores and wholesale clubs on up to $2,500 of spend every quarter of the year. This perk can add $100-$200 in additional rewards on top of the base 1% reward rate. A final sweetener is a $150 cash rewards bonus for approved applicants who spend $500 on purchases in the first 90 days of card membership.
Gold Delta SkyMiles® Credit Card from American Express
The Gold Delta SkyMiles® Credit Card from American Express offers a 30,000 mile bonus to new card members who make $1,000 in purchases within 3 months of becoming a cardmember. Earn 1 mile for every purchase, and 2 miles for every purchase made directly with Delta. A key feature is the ability to check one bag free on every delta flight. That can save a family of 4 up to $200 on every roundtrip flight. The Gold Delta SkyMiles® Credit Card from American Express offers a $0 intro annual fee the first year, then charges $95 so this card is best for those who fly Delta often who can save more than they spend on just one flight of baggage fees.
Blue Cash Everyday® Card from American Express
The Blue Cash Everyday® Card from American Express is a great card for families who want to earn a high level of cash back rewards without paying an annual fee. The best feature is the ability to earn 3% cash back on up to $6,000 per year (then 1%) on supermarket purchases in the U.S. That adds up to $180 for a family that spends slightly over $100 per week. It also offers 2% cash back at gas stations and select department stores in the U.S. and then a standard 1% on all other purchases. New customers get a $100 statement credit for spending $1,000 during the first 3 months of card membership. Lastly, the Blue Cash Everyday® Card from American Express offers a 0% introductory rate on purchases and balance transfers that lasts 12 months with an ongoing APR of 13.99%-24.99% Variable.
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express is the ultimate cash back card for people who buy gas and groceries. At supermarkets in the U.S., this card offers 6% cash back on up to $6,000 of spending annually (then 1%). This means you can earn $360 per year in rewards if you spend an average of $115 of groceries per week. At gas stations and select department stores in the U.S., you earn 3% while all other purchases earn 1%. This can easily add another $100 or more in rewards yearly. To sweeten the pot, the Blue Cash Preferred® Card from American Express also offers a $150 sign up bonus as long as $1,000 is spent on the card within 3 months of getting approved. The Blue Cash Preferred® Card from American Express does carry a $95 annual fee, but that is a small price to pay for the $360 in cash back you can earn on just grocery purchases.
Editorial Note: This content is not provided by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the issuer.
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