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The information about the Capital One Savor Cash Rewards Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Credit cards for consumers with excellent credit
An excellent credit score means you’ll have access to some of the top credit cards available, from cash back to travel rewards. We’ll help you learn everything you need to know about leveraging an excellent credit score to find the right card for you.
Compare Bankrate’s top cards for excellent credit
A closer look at the excellent-credit selections
Citi® Double Cash Card
Pros: In addition to a strong ongoing rewards program, you can get a 0% intro APR on balance transfers for 18 months (then it’s 13.99%-23.99% variable). Also, there’s no annual fee with this card.
Cons: This card doesn’t have a sign-up bonus, which is an unfortunate reality. Also, there is no 0% intro APR offer on purchases with the Citi Double Cash.
Bottom line: With 2 percent cash back (1 percent back when you make a purchase, then 1 percent when you pay for that purchase) and a solid balance transfer offer, this no-annual-fee card is a fine option. However, if you want a 0% intro APR on purchases, you’ll need to look elsewhere.
Read our Citi® Double Cash Card Review.
Chase Freedom Unlimited®
Pros: This easy-to-use card offers at least 1.5% unlimited cash back on eligible purchases, all with no annual fee. It’s also a great choice for purchases, with a 0% intro APR for the first 15 months on purchases (then variable 14.99% – 23.74%).
Cons: There isn’t much to dislike about this card, but with a 3% foreign transaction fee, it isn’t optimal for purchases made outside the United States.
Bottom line: This is a solid no annual fee cash back option. If you have other Chase premium cards, the Chase Freedom Unlimited becomes even more lucrative, since you can transfer rewards and redeem them as points with added value using Chase Ultimate Rewards.
Read our Chase Freedom Unlimited® Review.
Chase Sapphire Preferred® Card
Pros: When you look at this popular Chase card, the first thing that should jump out at you is the flexibility built into the rewards redemption process. You can transfer points to about a dozen notable airline and hotel partners at a 1:1 rate, which means no loss in value. This card lets you earn those valuable points with generous rewards on travel and dining at restaurants worldwide.
Cons: The card charges a $95 annual fee. It’s certainly not an excessive amount compared with similar travel cards, but you will need to factor it in when you calculate the card’s potential value.
Bottom line: It seems only natural that travelers who have excellent credit would want an excellent travel card to go along with it. Thanks in large part to its flexibility with rewards redemption, the Chase Sapphire Preferred offers a compelling choice.
Read our Chase Sapphire Preferred® Card Review.
Citi Rewards+℠ Card
Pros: The Citi Rewards+ Card’s rewards structure can be especially lucrative for your everyday purchases. You can earn 2X ThankYou Points at supermarkets and gas stations (on combined $6,000 in purchases annually, then 1X) and 1X Points on everything else. The card also rounds up every purchase to the nearest 10 points, making your $4 purchase worth 10 points, and so on. You earn 15,000 ThankYou Points if you spend $1,000 within 3 months of account opening, an easily attainable sign-up bonus.
Cons: If you’ve earned a sign-up bonus with Citi or closed a Citi account within the past 2 years, you’ll be ineligible for this card’s bonus. The points you earn with Citi Rewards+ are also considered “basic” within Citi’s rewards program, so you won’t earn their maximum value unless you have another premium Citi card, like the Citi Prestige® Card.
Bottom line: The round-up feature and 2X points categories make it great for everyday purchases and can really increase the value you get out of owning the card. As an excellent-credit consumer, you can use this card to earn rewards easily without trying to rack up a large amount of high-dollar purchases.
Read our Citi Rewards+℠ Card Review.
Capital One Quicksilver Cash Rewards Credit Card
Pros: The Capital One Quicksilver offers an uncomplicated rewards structure with 1.5% cash back on all purchases made. Rather than checking quarterly rewards calendars to see for which categories you could earn cash back, you can rest assured knowing all eligible purchases will fall under this steady rate. This card doesn’t come with foreign transaction and annual fees, and if you spend $500 within the first three months, Capital One will give you a $200 sign-up bonus.
Cons: Sure, there are rewards cards out there with heftier cash back percentages. If you’re looking for a higher rewards rate in a specific category (like travel or dining), this might not be the card for you.
Bottom line: The Capital One Quicksilver can provide you with a low-hassle way to earn rewards on all eligible purchases. It might be especially appealing to those who don’t have an allegiance to a certain spending category.
Read our Capital One Quicksilver Cash Rewards Credit Card Review.
Blue Cash Preferred® Card from American Express
Pros: Generous rewards rates in multiple categories help this card stand apart among its cash back competitors. If you have a large, on-the-go family, take note of the 6 percent cash back earned at U.S. supermarkets (on up to $6,000 in purchases per year, then 1 percent), 6 percent on select U.S. streaming services and 3 percent at U.S. gas stations.
Cons: This card has a $95 annual fee (Limited Time Offer: $0 introductory annual fee for one year, then $95. Offer Expires 12/10/2020) (see rates and fees), although strategically using it for purchases in the high-return categories should offset that cost. A 2.7% foreign transaction fee (see rates and fees) limits its usefulness for overseas travel and online purchases from international vendors.
Bottom line: If you’re looking for excellent cash back returns to go with your excellent credit, this family-friendly card is one of the top choices on the market. Shopping and entertainment perks add even more to its value.
Read our Blue Cash Preferred® Card from American Express Review.
Chase Freedom Flex℠
Pros: You get generous rewards rates in multiple categories, both at a scale usually reserved for top-tier cards that charge an annual fee. The sign-up bonus ($200 after spending $500 in the first three months) adds even more value.
Cons: The card doesn’t have a 0% intro APR offer on balance transfers. Redemption options include pay-with-points on Amazon.com, but that method reduces your points value from 1 cent to .08 cent.
Bottom line: This card has the potential to be a cash back earning machine, especially if you remember to activate the rotating bonus categories each quarter and target your spending. Consumers with excellent credit who can bring the same level of discipline to their spending patterns could cash in big.
Read our Chase Freedom Flex℠ Review.
Capital One Venture Rewards Credit Card
Pros: If you want a card with great travel rewards value that’s simple and easy to use, look no further. The Capital One Venture Rewards Credit Card earns unlimited 2X miles on every purchase, which you can redeem for recent travel (for a statement credit equal to 1 cent per mile) or with the issuer’s transfer partners. The card also has a generous welcome bonus of 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months.
Cons: For the Venture card’s lucrative travel rewards, you will have to pay an annual $95 fee. You’ll also have to be diligent about redeeming your miles after making a travel purchase, as you need to complete the redemption within 90 days.
Bottom line: This card is a great pick for frequent travelers who don’t want to think too much about their rewards redemptions. If you don’t mind the statement credit redemption process or the annual fee, the Venture card’s rewards structure, welcome bonus and added travel perks make it one of the best travel cards on the market.
Read our Capital One Venture Rewards Credit Card Review.
Blue Cash Everyday® Card from American Express
Pros: If you want a card with high cash back rewards on the purchases you’re already making, this may be the perfect card for you. The Blue Cash Everyday Card is a simple, low-maintenance card that earns generous rewards with no annual fee and no rotating categories to keep track of. You’ll earn 3% cash back at U.S supermarkets, on up to 6,000 a year (1% after that), 2% back at U.S gas stations and select department stores and 1% on everything else. For the shopper with excellent credit that is frequently buying gas and groceries, this card could bring you a lot of value.
Cons: This card has a 2.7% foreign transaction fee (see rates and fees), so if you often travel outside of the U.S, this is something to keep in mind. Also, American Express doesn’t have much of a presence abroad.
Bottom line: The Blue Cash Everyday® Card from American Express is a great tool for the frequent family shopper to earn cash back rewards on everyday purchases.
Annual Fee: $0
Read our Blue Cash Everyday® Card from American Express Review.
Capital One SavorOne Cash Rewards Credit Card
Pros: If you enjoy trips to the movie theater and habitually explore new restaurants, this might be the excellent-credit card for you. The Capital One SavorOne offers 3% cash back on dining and entertainment, 2% back at grocery stores and 1% on everything else. There’s no annual fee, and cardholders will enjoy a 0% introductory APR on purchases for the first 15 months (15.49% – 25.49% variable thereafter). Plus, if you spend $500 within the first three months of opening your account, you’ll earn a $200 bonus.
Cons: The SavorOne’s rewards structure isn’t quite as robust as its sister card — the Capital One Savor Cash Rewards Credit Card, which offers 4% cash back on dining and entertainment and a $300 cash bonus for spending $3,000 within the first three months. But, if you don’t spend as heavily in the dining and entertainment arenas, the SavorOne’s rewards structure is still solid, especially with no annual fee (compared to the Savor’s $95 annual fee).
Bottom line: The SavorOne is a well-rounded card that provides ample room to earn cash back on dining and entertainment.
Read our Capital One SavorOne Cash Rewards Credit Card Review.
Discover it® chrome
Pros: Discover automatically matches the cash back you’ve earned at the end of your first year as a cardholder. This one-time bonus effectively doubles the cash back you can earn during your first year (2% at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1%), as well as 1% on all other eligible purchases.
Cons: Other cards offer higher rewards rates in similar bonus categories. Although the Cashback Match™ feature is generous, it’s a one-time bonus that applies only to your first-year earnings.
People who regularly spend a lot at gas stations and restaurants have the best chance to maximize this card’s value, and they’re certain to appreciate the first-year bonus. Just keep in mind that people who spend a lot at gas stations and restaurants and also have excellent credit have room to be choosy when they’re considering cash back cards.
Read our Discover it® chrome Review.
Wells Fargo Propel American Express® card (not currently available)
Pros: This card stands out for earning 3X points in a variety of spending categories, not all of them strictly related to travel. In other words, the Wells Fargo Propel makes it easy to earn generous travel rewards even when you’re not boarding a plane or checking into a hotel. The lack of an annual fee is another notable feature.
Cons: One thing you might find less than satisfying doesn’t involve the card itself but Wells Fargo’s Go Far® Rewards. You can’t transfer points to airline or hotel loyalty programs, which is likely to disappoint travelers who’ve vested themselves with certain brands.
Bottom line: Travelers with excellent credit (and an aversion to annual fees) might find a lot to like about the earning potential of the Wells Fargo Propel card.
Read our Wells Fargo Propel American Express® Card Review.
The information related to the Wells Fargo Propel American Express card has been collected by Bankrate and has not been reviewed or provided by the issuer or provider of this product or service.
Discover it® Cash Back
Pros: You’ll earn 5% cash back in rotating bonus categories when you activate, up to the quarterly maximum of $1,500 and 1% thereafter. The Discover bonus categories cover a diverse range of goods and services, including grocery stores, restaurants, online retail stores and more.
Cons: If you don’t do the majority of your spending in the rotating bonus categories, there’s probably a better-targeted cash back option for you. You’ll also have to stay diligent in keeping up with the rotating categories and activating them every 3 months.
Bottom line: If you spend big in the rotating categories, the bonus rates make this card an excellent cash back option. Pair it with another cash back card that covers further categories to earn even more strategically.
Read our Discover it® Cash Back Review.
Bank of America® Cash Rewards credit card (not currently available)
Pros: For a no annual fee card, the rewards are generous with 3 percent cash back on your choice category (out of six) and 2 percent back at grocery stores and wholesale clubs up to $2,500 in combined category spending per quarter, then 1% on all other purchases. Preferred Rewards clients could see bonus rewards ranging from 25% to 75% more cash back on every purchase.
Cons: Existing members of the Preferred Rewards client program have the most to gain from this card. Unless you’re among that group, the potential for bonus rewards might not be tempting enough to sway you. Other cards not issued by Bank of America offer comparable (and in some cases, more generous) rewards rates in similar categories.
Bottom line: As someone with excellent credit, you’re probably good at recognizing value. The added value of the Preferred Rewards bonuses makes this this card an enticing option for qualifying Bank of America account holders.
Read our Bank of America® Cash Rewards Credit Card Review.
The information about the Bank of America Cash Rewards credit card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
What is an excellent credit score?
Credit scores are one of the most important indicators of financial health, but they’re also one of the least understood. Your credit score is calculated using a series of factors pulled from your overall credit report. The most commonly-used scoring systems are developed by FICO (FICO Score 8) and VantageScore (VantageScore 3.0).
Both methods score in a range from 300 (the lowest) to 850 (the highest), with most people falling between 600 and 750. FICO deems 740-799 “very good” and 800-850 “excellent,” while VantageScore is a bit more lenient in considering “excellent” anywhere from 750 to 850.
Scoring systems use predictive analysis based on the individual financial history found in your credit report (pulled from one or more of the three big credit reporting agencies — Equifax, Experian and TransUnion), to generate your score. VantageScore and FICO both use data from the credit bureaus but their scores are generated with different mathematical models. Despite their differences, if you have excellent credit, it will generally be reflected in both.
You should be aware that there are other, less common scoring systems with different scales. For instance, the FICO Auto Score 8 ranges between 250 and 900. If your lender uses a score with a different range than the standard 300 to 850, it may impact what constitutes a “good” versus “excellent” score.
Why should you aim for an excellent score?
Lenders use your score to estimate the likelihood that you will pay back and not default on the loan from your lender. Lenders and creditors all have their own thresholds for what makes a score fair, good or excellent and who will have the best chances of qualifying for the lowest rates on mortgages, credit cards, auto loans and most other types of loans.
An excellent score can save you thousands of dollars in interest charges over the life of a loan and make a first-class credit card a realistic option.
The difference between ‘excellent’ and ‘good’ credit
The difference between an excellent credit score and a good credit score may seem like only a few points, but it can make a big difference for your wallet.
If you’re applying for a credit card that offers a variable APR, the issuer will assign a more favorable interest rate if you have better credit, which can save you money. For instance, if you are assigned a 17% interest rate, the amount you owe on any balance carried would increase by .046575% each day. With a 25% interest rate, you would accumulate an additional .068493% daily until your next billing cycle. According to Bankrate’s Credit Card Payoff Calculator, if you carry a $5,000 balance and make $200 monthly payments, the difference between 17% and 25% interest is worth $920 in extra interest payments.
There are more credit card benefits to having an excellent credit score as well. You can qualify for a great credit card with a good score, but many of the most premium cards, those with exclusive benefits and higher rewards earning, require excellent credit. Be prepared to pay the high annual fees that often accompany those premium cards, though, like the Chase Sapphire Reserve and The Business Platinum Card® from American Express.
Consider the types of loans you’ll take out over your lifetime, too, like mortgages, which can take decades to repay. According to recent data from FICO, a person who takes out a 30-year fixed-rate mortgage with a credit score of 760 or better could get a 2.39% interest rate while someone with a 620 score could get a 3.98% interest rate. With a $216,000 mortgage, the person with excellent credit would have a monthly payment about $188 lower and save about $2,250 a year.
It’s possible to take out a car loan with subprime credit, but those loans often come with high interest rates and subpar terms. If you have excellent credit, though, you’ll qualify not only for a wider selection of cars on the market but also better loan terms and possibly even 0% financing.
Working on your financial health to attain excellent credit will ultimately help you save on many of these big purchases and allow you to pay less over each loan’s lifetime, freeing up your money for other goals.
How to get an excellent credit score
Achieving excellent credit requires a combination of good financial habits and patience. An essential step in improving your score is checking your credit report. You can find out where your score stands now and evaluate your report for any errors.
Next, familiarize yourself with the factors that make up your credit score: debt utilization, the age of accounts, payment history, credit mix and new credit.
Improving your score takes time, but there are ways you can begin working towards better credit now:
- Dispute any errors you find on your credit report. Reach out directly to the credit bureau reporting the error.
- Work to pay down any outstanding balances on your credit cards and keep your credit utilization ratio between 20 percent and 30 percent. That means, if your credit card has a limit of $10,000 try to keep your balance between $2,000 and $3,000. Different scoring methods have different ideal utilization ratios, but staying in the 20-30 percent range should cover you.
- Pay all of your bills in full and on time every month. Doing this consistently could have a major positive impact on your credit score.
- Avoid opening several new lines of credit in a short time period, as this can indicate risk to lenders and temporarily lower your score.
- Once you’ve paid off a loan or no longer use a card, don’t remove it from your report. Bankruptcies, late payments and other bad debts are removed automatically after seven years, but your good debt history can improve your score through factors like age and responsible payment history, until it drops off as well, typically after 10 years.
Perhaps most importantly, you need to have patience. You likely won’t achieve an excellent score within months of opening your first credit card. All of the major factors are improved over a long period of time: your history of on-time payments, your available credit, your mix of accounts and the age of all your accounts.
How to keep your credit score from going down
If you’ve obtained an excellent credit score, you’ve likely already established the good habits that it takes to maintain that score, like on-time payments and low utilization. The best way to keep it from dropping is simply to maintain.
You can monitor your credit report every few months to keep track of any changes or practices that may be impacting your score negatively. Keep in mind that there are factors, like opening or inquiring about a new account that can make your score drop temporarily, but you should focus on long-term maintenance rather than short-term fluctuations.
Also remember that you don’t need to strive for a perfect 850 credit score. Anyone with a score within the “excellent” range, which FICO considers 800 and above, can obtain the same perks and rates as someone with a perfect score. Ultimately, if you pay your bills in full and on time, your credit score will remain strong.
How many people have excellent credit?
According to Experian, an excellent credit score isn’t as uncommon as you may think. Their data shows that the majority of U.S. consumers are at least in the good credit range, with 21 percent of people qualifying for the excellent tier.
Experian also found that the average credit score in the U.S. has seen a steady climb for years, all the way up to 703 as of recent.
FICO credits an increase in credit responsibility, reduced negative histories and consumer education for the improvement.
How we rate cards for consumers with excellent credit
Bankrate’s 5-star scoring system evaluates features that offer maximum value and first-rate user experience: For cards in the excellent credit category, we refine the method to focus on a set of particular factors including:
By matching lifestyle categories with the cards most likely to maximize returns, we’ve made it easy for you to find the card that will offer the best value — points, miles or cash back.
Annual percentage rate (APR) represents interest charges you would face if you didn’t pay your balance fully. With excellent credit, you’re more likely to qualify for a low APR.
Extras and discounts
On top of earning rewards, each credit card on this list offers features that raise its overall value. Perks like statement credits on travel, access to travel lounges, and free credit score monitoring allow cardholders to maximize benefits of achieving a strong credit score.
Cost of ownership
Some of these cards come with an annual fee, but in those cases the earnings potential should outweigh the cost. The travel cards frequently waive foreign transaction fees.
More research for excellent credit consumers
If you have excellent credit, you can qualify for some of the best cards on the market. Here are some resources to help you get more information about credit cards and credit scores:
Senior Editor Barry Bridges has been writing about credit cards, loans, mortgages and other personal finance products for Bankrate since 2018. His work has also appeared on websites including Nasdaq.com, Zillow.com and The Simple Dollar. He was previously an award-winning newspaper journalist in his native North Carolina. Send your questions about credit cards (and fantasy baseball) to firstname.lastname@example.org.
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