When you’re looking to get the best cash back credit cards, it’s important to understand how good your credit score is. A good credit score will help you get approved for a card with high rewards rates, and it’s also key for getting lower interest rates on your borrowing. Here are four of the best cash back credit cards for excellent credit.
What factors go into determining the best cash back credit cards?
There are a few things that go into determining the best cash back credit cards. The first is the card’s rewards rate.
Some cards offer generous rewards rates, so be sure to look for one that offers a high percentage of your purchase back in cash. Next, consider the card’s APR and fees. Some cards have high annual percentage rates (APRs) that can really eat into your earnings, while others have low fees that make them a good option if you plan on using the card frequently. Finally, take into account how much value the rewards offer. Many of the top cash back cards offer sizable rewards relative to their costs, so be sure to compare apples to apples before making a decision.
Which cards offer the best rewards?
There are a number of credit cards that offer great rewards for those with excellent credit. Some of the best include the Chase Sapphire Preferred®, Capital One® Quicksilver® Card, and American Express® Gold Card. These cards offer sign-up bonuses as well as ongoing rewards that can be used in a variety of ways, including towards purchases and travel.
What are the best card terms?
When it comes to choosing the right credit card, understanding all of the terms is key. Here are some of the most important card terms to know:
Annual Fees: Annual fees can quickly add up, and they’re one of the biggest drawbacks of credit cards. Look for cards with low annual fees if you plan to use them regularly.
APR (Annual Percentage Rate): This is the interest rate charged on your balance each month. Some cards have variable APR rates, which could go up or down depending on the market conditions. It’s important to know what your APR will be so you can budget for future payments.
Balance Transfer Fee: This is a fee that banks charge when you transfer your balance from one card to another. It’s usually around 3%. If you’re looking to consolidate debt or reduce your interest rate, a balance transfer may be a good option for you.
Card Limits: Credit companies generally have a limit on how much debt they’ll approve in relation to your credit score. This limit is called your credit limit. If you reach this limit, you may not be able to continue using the card and will likely need to find another option. Pay attention to your credit score when considering which card to apply for. Cards with higher limits typically have better scores than those with lower limits.
Which cards offer the best rates?
There are a number of great credit cards that offer excellent rates for cash back rewards. Some of the most popular cards include the Chase Freedom, Citi Double Cash, and the Discover it® Card. These cards all offer 2 percent cash back on all purchases, which can add up to a lot of extra money over the course of a year. The best part is that even if you have poor credit, you can still qualify for these cards. Simply make sure your credit score is above 620 and you’ll be good to go.
Conclusion
If you’re looking for a cash back credit card that offers excellent credit, then the Capital One Quicksilver Cash Rewards Credit Card is definitely worth your consideration. This card allows you to earn 1.5% cash back on all eligible purchases, and it also has no annual fee. Plus, new cardholders can enjoy a 0% introductory APR on Purchases and Balance Transfers for 12 months!