Having an exceptional credit score is like receiving an exclusive right to passage. You worked so hard on managing your finances and keeping reliable records to maintain a balanced budget, that it paid off in the end, resulting in an outstanding credit rating. Now the goal is not only to keep this pace but to continue rising. An ideal credit score ranges from 740 – 850, with 740 rated as very good and 850 on the exceptional side of the spectrum. It’s highly likely you took some or all of the following 5 steps to attain the excellent credit score that you currently possess. Feel free to review these items to make sure you leverage every single strategy for awesome credit.
- Paid on a timely basis – One of the top factors in credit scoring models is your ability to settle your bills before they are due. Late payments can quickly drag down your credit score. With today’s consumers having a greater awareness of how credit works, many know that one delayed bill payment can chop down your credit score.
- Minimized consumption of available credit – By paying down highly utilized credit accounts, individuals often see a significant increase in their credit scores.
- Maintained low or no balances – You always keep your balances low. As a result of your pay activities, you rarely pay interest because you make sure your balance is paid in full before the next cycle.
- Established a positive, lengthy credit history – Older accounts with positive payment histories can result in a higher score. So, make sure not to close these accounts. They strengthen your score.
- Applied for credit only when it is necessary – More available credit vs. used credit will result in a lower credit utilization score, which is what you want. Having a healthy mix of credit cards is critical because it illustrates you have earned the trust of the lenders. There just has to be a balance between your debt-to-credit ratio.
You obviously know what you are doing and are looking to get the best bang for your credit card buck. There is always room for improvement, but if you already have stellar credit, you will ideally want a card with the most competitive offerings. You also want to be sure that you are able to fully maximize the perks, points, and bonuses that your card will provide. We recommend the following top 9 credit cards with the best bonuses and offers for individuals with excellent credit.
- Citi Simplicity Card
This credit card is only one of a few select cards with no late fees, no penalty rate, and no annual fee ever, including an introductory annual percentage rate (APR) of 0% for balance transfers within the first 21 months from the date of the first transfer. Within four months, you should complete all transfers. After that, based on your creditworthiness, the variable APR will be 16.99% – 26.99%. After your introductory period for your zero APR expires and you will automatically generate interest if you transfer a balance or purchase. You may also opt to set your bill payment schedule on any due date throughout the month for convenience and simplicity.
A major highlight of this credit card is its zero annual fees and no penalty APR. Even if you pay late, your interest rate will not automatically go up. You may also access your data for free via online banking or the mobile banking app. This card offers a 0% introductory annual percentage rate for 18 billing purchase cycles and any transfer of balance made in the first 60 days. After the intro APR offer ends, the 15.24% – 25.24% rates apply as the variable APR. A minimum of $10 or a 3% fee applies to all balance transfers.
- Bank of America Travel Rewards Credit Card
You will surely enjoy this no annual fee and zero foreign transaction fee card and one of its many perks by being able to still collect points without the annual fee requirement. You may use the points for your different travel needs, such as rental cars or baggage fees, flights, hotels, vacation packages, and cruises without the hassle of paying an annual fee. There is also a very low introductory annual percentage rate during your first billing cycles for purchases. A variable annual percentage rate of 17.24% to 25.24% will apply after this period. If you make a minimum of $1,000 in purchases within the first 90 days of your account opening date, you will receive 25,000 bonus points. Members also earn 25%-75% more points on every purchase. Up to 2.62 points for every $1 you spend can be obtained, everywhere, every time.
- Capital One Venture Rewards
CNBC labeled this credit card, The Best Travel Card of 2018. Once you spend $3,000 in purchases within the first three months of opening your account, you may enjoy a one-time bonus of 50,000 miles, equivalent to $500 in travel funds. On every purchase, you may also earn 2X miles and 10X miles on select hotels until January 2020. The miles don’t expire, and you may earn as many as you want; there is no limit. Your accrued miles will not expire as long as the credit card account is active.
- Chase Freedom Unlimited
Your purchases in your first year (up to $20,000), may earn you 3% cashback. After that, you will earn 1.5% cash back on all purchases. They also offer a no annual fee benefit. One of the most exceptional features that come with the Freedom Unlimited Card is their very low Annual Percentage Rate. For 15 months, cardholders can enjoy a 0% introductory APR on purchases and balance transfers. There is no expiration for the cash back rewards as long as your account is active.
- Bank of America Cash Rewards Credit Card
Earning cash back your way is the name of the game. There is a 3% cashback bonus categorized across these areas: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. Earn 2% cash back at groceries and 1% cashback on all other purchases. On the first $2,500 in combined choice category purchases each quarter, you’ll earn 3% and 2% cashback, then collect 1% Calculate rewards. Your techy self will also thank you because of the online banking and mobile banking app that this credit card offers.
- Marriott Bonvoy Boundless Credit Card
Are you thinking of jump-starting your Bonvoy reward card earnings? Formerly known as the Marriott Rewards Premier Plus card, there is not much of a difference as many of the benefits, and sign-up bonuses are still the same. You will earn 75,000 bonus points after you purchase $3,000 in the first three months from initially opening your account. An additional free night award, valued at 35,000 points, is given after every account anniversary. You may also earn unlimited Marriott Bonvoy points and get Free Night Stays. For every $1 spent at over 6,900 participating Marriott Bonvoy hotels, you will have 6X Bonvoy Points while the $1 spent on all other purchases will gain 2X Bonvoy Points. You will also enjoy 15 Elite Night Credits each calendar year. Planning to travel abroad? Then this is the right card for you because there are no foreign transaction fees.
- Southwest Rapid Rewards Plus Credit Card
Are you a frequent traveler? If so, then you’ve found your match to suit your lifestyle. You will reap the benefits of using accrued points to be redeemed as flights, hotel stays, gift cards, and more. All other purchases made with this credit card will gain you 1 point per $1 spent. A 3,000-anniversary point package is also distributed after your cardmember anniversary.
- Chase Sapphire Preferred
This credit card is another ideal selection for travelers. You will gain 60,000 bonus points in the first three months from your account opening date after spending $4,000. With this credit card, you receive even more value when you redeem car rentals, hotels, cruises, and airfare through Chase Unlimited Rewards. For other purchases, you will earn 1 point per dollar and 2x points on travel and dining at selected restaurants. With the numerous options of credit cards stated above, we are sure that you will find the perfect addition to your wallet.