Here’s what you need to know about these good credit cards in general and what to expect from one.
5 Features of Cards for Good Credit
If you have a good credit score, you’ve probably been financially responsible in the past. Luckily, this score category isn’t that big, which means that you can get credit cards that will offer nice perks and help you quickly get into the excellent credit range. With good credit, you can qualify for almost all of the cards out there. Some of them come with really nice benefits. Still, they aren’t quite as good as the cards you can get with excellent credit. In a lot of cases, the margins are quite thin.
- Big Rewards. These credit score cards are the ones that bring out the big guns. Their rewards usually range from around $200 to $1000. But these cards come in many different forms. They can be collected every month, year, or when you’ve spent a certain amount.
- Nice Bonuses. Some of the best bonuses go along with these cards. These bonuses can be double cash back features that last for a certain period. They can come as points that you can redeem for money or rewards. Some offer free credit score monitoring and getting back the portion of the money you’ve spent.
- 0% Interest. Most of the credit cards you can qualify for with a better than average score offer a 0% APR for at least the first 12 months. A lot of them offer 0% APR up to 15 or even 24 months. After these periods, the ongoing APRs are usually variable, and they range from 10% to about 25% in general.
- No Annual Fees. Most of the best credit cards for this credit score have permanent $0 annual fees. Cards for fair credit don’t often come with $0 annual fees. Even if they do, they make it up by adding additional expenses. That’s not the case with this type of cards.
- Multiple Benefits. Cards for good credit are the category that really starts combining several benefits. They often combine 0% interest, big bonuses, rewards, and no annual fees. All these benefits are valuable and aren’t just “cosmetic”. It allows cardholders to integrate the cards in their spending habits and get the most out of the benefits.
Cards for Good Credit – Pros
Cardholders can gain a lot from these cards. After all, these cards aren’t reserved for everyone. Here are some of the biggest pros of these cards.
You Can Make the Most Out of No-Interest days
The big interest-free periods offered by these cards make them great for making big purchases. There are no interests pilling on if you can clear the balance completely. In many cases, these cards don’t have interest in all kinds of transactions like payments, cash advances, and so on. These cards have long interest-free periods making them ideal for this kind of use.
They Let You Earn Points and Rewards Quickly
Rewards and points are typical for this category of cards. Users can earn rewards like cashback, points, free services, discounts, and much more. For example, if you fly a lot, you can find a credit card that offers bonus flights through points and let you save money on your travels.
Climbing to the Excellent Credit Score Range
Everyone wants to have the best score they possibly can. These credit cards are best after the ones that require an excellent credit score to get. Naturally, you would be best with one of these cards. They will give you great benefits and perks you can enjoy while climbing on the credit score ladder.
Cards for Good Credit – Cons
Even though credit cards that require a good credit score are really good, they also have some cons you need to be aware of.
You Can Interrupt Your Interest-Free Period
Yes, most of these cards have 0% interest periods, but with most of them, it’s possible to break them. If you don’t pay the closing balance, your promotion will end, and you will preemptively start your interest.
They Require Spending Them
These cards are built around a simple concept. If you use the card for payments, you will be able to reap these benefits. If not, you won’t feel them in any way. People need to consider their payment and shopping habits before choosing a card. Getting the one that doesn’t fit in with your lifestyle won’t help you in any way.
Should You Use Cards for Good Credit
If you have good credit and you’ve found a card that suits your spending habits, make sure to get it. In the long run, these cards pay for themselves through various benefits and rewards. At the same time, they can make your road to excellent credit as pleasant as possible.
These cards are a great option if you have a good credit score. They offer lots of perks and can help you enjoy your payments like never before. Use them to save on your spending and reach an excellent credit score that will open up new financial opportunities.