What kind of credit card can I apply for that rewards me because of excellent credit?
I have excellent credit, all 3 scores in the 758 to 798 range. I only have 2 credit cards, but theyre both just basic cards from when I was 18. They don’t offer benefits/rewards or anything. What card can I apply for that gives rewards to people with good credit?
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- Tags: credit cards, good credit, rewards
March 29th, 2011 at 11:26 am
Go to Bankrate.com
http://www.bankrate.com/
Click on Credit Cards.
Chase Freedom right now has one.
If you go directly to their site you migh see that they offer you a $100 just for getting the card.
This is cash back – no gimmicks.
They also have 5% cash back on quarterly categories.
1% cash back on everything else.
The APR is a bit high, but with those scores you have, something tells me you already know to pay credit cards in full each month to avoid interest.
Nerd Wallet. com
http://www.nerdwallet.com/
Is another favorite site that I found in Money Magazine.
The cards don’t have to pay for advertising here and you can find the very best ones
(not as widely known).
From a cost analyst: Don’t fall for those with airline miles.
I’ve done the math, and by the time it’s all said and done, you are better off with a 1% cash back card. Leave those hotel and gimmick points for people that can’t save for vacations on their own.
Don’t close your oldest card.
This establishes your "length of credit history" which is 15% of your fico.
Only close it if it carries an annual fee, after you get your new card..
March 29th, 2011 at 11:26 am
Capitol One is a great card with good rewards and Discover is another good reward card. MasterCard offers a lot of benefits including full insurance coverage on rented cars so that any supplemental insurance is not needed. That can save you $25 a day in insurance costs. Both cards have customer reward shopping sites where you can get deep discounts on merchandise. Visa sometimes offers great flight discounts and special unannounced airline discounts saving you as much as 50%.
March 29th, 2011 at 11:26 am
Without a doubt, I recommend the Discover Card that offers up to 20% cahback on purchases online and 5% in most other places + $100 for signing up: http://www.ccdb.com/$100_Cashback_Bonus
Or apply for an American Express True earning card that gives you 3% cashback on gas, free membership with costco membership, plus a few other major perks (such as roadside assistance): http://www.ccdb.com/Costco_True_Earnings
Good luck!