6 Best Credit Cards for Excellent Credit

6 Best Credit Cards for Excellent Credit

Overall Best Credit Card for Excellent Credit
#1
Chase Sapphire Preferred Card
  • Plenty of perks
  • Friendly and helpful customer service team
  • Accepted worldwide
Best Travel Card for Excellent Credit
#2
The Platinum Card from American Express
  • Premier travel rewards card
  • Lengthy list of perks
  • Widely accepted around the world
Best American Express Card for Excellent Credit
#3
The Amex EveryDay Credit Card from American Express
  • Perfect for frequent spenders
  • No annual fee
  • Bonus for new users
Best MasterCard for Excellent Credit
#4
Barclaycard Arrival Plus World Elite Mastercard
  • Rewards post quickly
  • No annual fee the first year
  • Generous bonus for new cardholders

After 20 hours of research evaluating 115 products, we picked Chase Sapphire Preferred Card as our top choice.

Rocking a FICO score of 720 or higher? Congratulations - that’s not a common achievement!

The average FICO score is 700, and only 1 out of every 5 Americans boast a credit score higher than 780. Scores can dip as low as 300, so having a credit score in the 700s or 800s typically requires careful budgeting and a long and impressive history of financial stability.

If you have done a steller job of building credit over the years, you deserve the rewards that come with one of the best credit cards for excellent credit.

It gets better:

The best credit cards for excellent credit have low APRs, generous cash-back rewards, and hefty sign-on bonuses for responsible people just like you. We’re confident you’ll find a credit card on our list that’s perfect for your lifestyle, whether you prefer free airline miles or like to rack up cash-back rewards.

Not eligible for any of the best credit cards for excellent credit? Not a problem - we’ve got something for every FICO score! Check out our list of the best credit cards for bad credit, or choose one of the best secured cards while you repair or rebuild your credit.

Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.


Editorial staff

6 Best Credit Cards for Excellent Credit

6 Best Credit Cards for Excellent Credit

Read Video Infographic Tips

After 20 hours of research evaluating 115 products, we picked Chase Sapphire Preferred Card as our top choice.

Rocking a FICO score of 720 or higher? Congratulations - that’s not a common achievement!

The average FICO score is 700, and only 1 out of every 5 Americans boast a credit score higher than 780. Scores can dip as low as 300, so having a credit score in the 700s or 800s typically requires careful budgeting and a long and impressive history of financial stability.

If you have done a steller job of building credit over the years, you deserve the rewards that come with one of the best credit cards for excellent credit.

It gets better:

The best credit cards for excellent credit have low APRs, generous cash-back rewards, and hefty sign-on bonuses for responsible people just like you. We’re confident you’ll find a credit card on our list that’s perfect for your lifestyle, whether you prefer free airline miles or like to rack up cash-back rewards.

Not eligible for any of the best credit cards for excellent credit? Not a problem - we’ve got something for every FICO score! Check out our list of the best credit cards for bad credit, or choose one of the best secured cards while you repair or rebuild your credit.

Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.


Editorial staff

Best Visa Card for Excellent Credit

Best Visa Card for Excellent Credit: Capital One Venture Credit Card
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    14.24% - 24.24%
  • Cash Advance APR
    24.24%
  • Rewards Rate
    2 miles per dollar
  • Annual Fee
    $0 for the first year, then $95
  • Intro APR
    n/a
  • Bonus Offers
    Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel.

Pros

  • Unlimited rewards
  • No annual fee the first year
  • Hassle-free reward redemption

Cons

Several cardholders complain about the verification process that Capital One uses to reduce fraud. They’re angry that the company requests a photo ID from some applicants, but personally, we like the extra layer of safety.

Details

  • Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
  • Earn unlimited 2X miles per dollar on every purchase, every day
  • New! Earn 10 miles per dollar on hotels when you pay with your Venture card at hotels.com/venture; learn more at hotels.com/venture
  • Fly any airline, stay at any hotel, anytime
  • Travel when you want with no blackout dates
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • No foreign transaction fees
  • $0 intro annual fee for the first year; $95 after that

Application Process: Apply online quickly and easily when you complete the online application for this Visa card. The app asks basic questions about your income, address, and date of birth.

Not sure you’ll get approved? Try Capital One’s handy prequalification tool before you submit your application.

Bonus Offers: Spend at least $3,000 within 90 days of opening your account to score 50,000 bonus points. Very few cards have a new-member bonus that comes close to this one.

So, 50,000 bonus points sound great and all, but how do you use them? Simply log into your Capital One account or contact the company to exchange your points for airline miles, hotel rooms, and rental cars. FYI, 50,000 points equal a $500 credit toward your next vacation.

Rewards: You can earn your pretty little heart out with the Capital One Venture card because there are no reward caps! Rack up double miles for every dollar you spend, then redeem those miles for travel rewards.

The best part? Your rewards never expire, so you can save for your dream destination instead of using your rewards just to use them.

APR: Capital One rewards responsible credit use. Your variable APR is based on your credit history, so it’ll either be 13.99%, 18.99% or 23.99%.

Need a cash advance? Your APR jumps to 23.99% when you borrow money, but it goes back to normal when you make regular purchases.

Annual Fee: Woo hoo - there’s no annual fee for the first year! After that, you pay $95 per year, but that fee is totally worth it if you use this card regularly.

Best MasterCard for Excellent Credit

Best MasterCard for Excellent Credit: Barclaycard Arrival Plus World Elite Mastercard
Apply Now
On the Barclaycard Secure Website
  • Variable APR
    17.24%, 21.24% or 24.24%
  • Cash Advance APR
    26.49%
  • Rewards Rate
    2 miles per dollar
  • Annual Fee
    $0 for the first year, then $89
  • Intro APR
    0% on Balance Transfers for 12 months (on balance transfers made within 45 days of account opening)
  • Bonus Offers
    Enjoy 40,000 bonus miles after you spend $3,000 on purchases in the first 90 days — that's enough to redeem for a $400 travel statement credit toward an eligible travel purchase.

Pros

  • Rewards post quickly
  • No annual fee the first year
  • Generous bonus for new cardholders

Cons

Some cardholders complain that the card’s customer service team sucks. The agents are rude on the phone, and it takes weeks for them to correct issues that arise.

Details

  • Enjoy 40,000 bonus miles after you spend $3,000 on purchases in the first 90 days — that's enough to redeem for a $400 travel statement credit toward an eligible travel purchase
  • Earn 2X miles on all purchases
  • Get 5% miles back to use toward your next redemption, every time you redeem
  • Miles don't expire as long as your account is open, active and in good standing
  • No foreign transaction fees on purchases made while traveling abroad
  • 0% introductory APR for 12 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 17.24%, 21.24% or 24.24%, based on your creditworthiness. There is a fee for balance transfers.

Application Process: Complete the secure application online in just a few minutes. Give the company a call at 1-800-307-0341 if you have any questions or concerns.

Bonus Offers: Make the most of this card by applying for it right before you plan to use it. That way, you’ll increase your odds of getting the 40,000 bonus points for new cardholders. All you have to do is spend $3,000 during your first 90 days with the card.

Rewards: You earn double miles for every dollar spent, and you can redeem rewards in increments of 10,000 points. For example, 30,000 points equals $300 in travel rewards. There’s also a 5% redemption bonus, so you get some of your points back each time you redeem a reward.

Not interested in traveling? You can also redeem points for gift cards, cash-back credits, and merchandise.

Rewards don’t expire on open accounts in good standing. In other words, you can’t bail on your bill several months in a row and then try to cash in your rewards.  

APR: The variable APR is average compared to similar cards. You’ll pay a 16.99%, 20.99% or 23.99% variable APR based on your credit history.

There’s a 26.24% variable APR for cash advances. If you transfer balances, expect to pay 3% of your transfer, with a minimum of $5 due.

Annual Fee: You get a full year to test drive the Barclaycard Arrival Plus World Elite Mastercard without paying an annual fee. After that, expect to shell out $89 per year.

Best American Express Card for Excellent Credit

Best American Express Card for Excellent Credit: The Amex EveryDay Credit Card from American Express
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    14.24% - 25.24%
  • Cash Advance APR
    26.49%
  • Rewards Rate
    1.0%
  • Annual Fee
    $0
  • Intro APR
    0% on Purchases and Balance Transfers for 15 months
  • Bonus Offers
    Earn 10,000 Membership Rewards® points after you use your new Card to make $1,000 in purchases in your first 3 months. Terms apply.

Pros

  • Perfect for frequent spenders
  • No annual fee
  • Bonus for new users

Cons

No major complaints about this card. However, the bonus offer for new members isn’t as impressive as the deal that other cards offer.

Details

  • Earn 10,000 Membership Rewards® points after you use your new Card to make $1,000 in purchases in your first 3 months.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 14.24% to 25.24%.
  • $0 balance transfer fee. Balance transfers must be requested within 60 days from account opening.
  • No annual fee.
  • 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x); 1x points on other purchases.
  • Use your Card 20 or more times on purchases in a billing period and earn 20% more points on those purchases less returns and credits.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
  • Terms Apply.

Application Process: Apply online and get an instant response. Sometimes it takes 7 to 10 days if an underwriter has to personally review your app.

Bonus Offers: New members get 15,000 Membership Rewards Points for spending $1,000 in the first 3 months. This is a totally attainable goal, even if you just put everyday purchases like food and gasoline on your card.

Rewards: You can do quite a bit with the points you accumulate on this card. Trade them in for gift cards or merchandise, use them to pay for purchases, or redeem them for travel-related perks. You can also transfer your points to eligible frequent traveler programs.

APR: Enjoy a 0% APR for the first 15 months. After that, you’ll have a variable APR of 13.99% to 24.99%. Cash advances have a 26.24% APR, and there’s a 29.99% penalty APR (so pay your bill on time!).

Annual Fee: Our favorite number: Zero! And it’s always $0, not just for the first year.

Best Travel Card for Excellent Credit

Best Travel Card for Excellent Credit: The Platinum Card from American Express
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    n/a
  • Cash Advance APR
    n/a
  • Rewards Rate
    1 point for every dollar
  • Annual Fee
    $550
  • Intro APR
    n/a
  • Bonus Offers
    Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months. Terms apply.

Pros

  • Premier travel rewards card
  • Lengthy list of perks
  • Widely accepted around the world

Cons

Hefty annual fee - but it’s worth it if you’re a frequent traveler. The card’s benefits are incredible.

Details

  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Up to $200 for Uber rides annually. Credit and Uber VIP status available to Basic Card Member only.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards® points on eligible hotels booked on amextravel.com.
  • As a Platinum Card Member, you can enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Terms Apply.

Application Process: Find out whether you need to clear a spot in your wallet for this Platinum American Express in just 30 seconds. The online app is super simple.

Bonus Offers: Want an easy 60,000 points? Just charge $5,000 in the first 3 months with your Platinum AmEx. This impressive bonus offer basically knocks out the annual fee that some people gripe about paying (more on that later).

Rewards: Wow, where do we even begin? You can rack up more rewards with this credit card than any other card on this list, and The Points Guy agrees that the rewards rock. Here are some perks that cardholders love:

  • Gold Status from Hilton and Starwood Properties
  • $200 airline fee credit
  • Save up to $200 per year on Uber rides
  • 5X Membership Rewards Points on qualifying hotels and flights
  • Fee credit for TSA PreCheck and Global Entry
  • Elite Status with participating rental car companies
  • Complimentary access to upscale airline lounges

APR: You don’t pay interest on your purchases because you aren’t allowed to carry a balance. You have to pay off this card in full each month.

Annual Fee: At $550, the annual fee is the highest on our list (and some folks gripe about it). Most cardholders feel the fee is reasonable, though, since you get an insane amount of benefits with this Platinum AmEx.

Overall Best Credit Card for Excellent Credit

Overall Best Credit Card for Excellent Credit: Chase Sapphire Preferred Card
Apply Now
On Card Issuer’s Secure Website
  • Variable APR
    17.24% - 24.24%
  • Cash Advance APR
    26.24%
  • Rewards Rate
    1 point per dollar
  • Annual Fee
    $0 for the first year, then $95
  • Intro APR
    n/a
  • Bonus Offers
    Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®

Pros

  • Plenty of perks
  • Friendly and helpful customer service team
  • Accepted worldwide

Cons

Very few cardholders have anything bad to say about this credit card, but a handful of folks complain about the annual fee. We’re kind of confused by these complaints since the Platinum AmEx and other popular cards have much higher fees.

Details

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards.

Application Process: The usual: Apply online, and get an instant approval if you qualify. We love that you can also read cardholder reviews and browse clearly defined card benefits before you click Apply Now.

Bonus Offers: Great news, frequent spenders: You get 50,000 bonus points if you spend $4,000 your first 3 months as a cardholder. That equates to around $625 for travel-related purchases.

Also, you can get rewarded for being a good friend! Earn 10,000 bonus points for each friend who gets a Chase Sapphire Preferred card.

Rewards: Want cash back? Each accumulated point equals one cent on your statement.

You can also transfer points at a 1 to 1 value when you book a trip with participating airlines or hotels. Oh, and you earn 2X points for many travel-related expenses, such as dinner at a participating restaurant or a room at a qualifying hotel.

Maximize your points by taking advantage of Chase Ultimate Rewards. You get 25% more for your rewards when you schedule vacations through this program.

APR: There’s a variable APR of 16.99%–23.99% for this credit card. The cash advance APR is 25.99%, plus there’s a transaction fee.

Annual Fee: Not sure you’ll love our favorite card for excellent credit? Take advantage of the $0 introductory rate to see if it’s a good fit for you. After that, you’ll pay $95 per year if you decide to keep this popular card.

Written by Missy Nolan

If you’ve got excellent credit, you’re probably a seasoned expert when it comes to credit cards - unless you’ve had lots of money-management help from your parents or a financial advisor. Even if you’ve gotten where you are with no help whatsoever, you still might have a few questions about maintaining your credit card or choosing the best card for your lifestyle. Keep scrolling to learn everything you need to know about credit cards for people with excellent credit!

General Questions About Credit Cards for Excellent Credit

What is a credit card for excellent credit?

A credit card for excellent credit is a card that’s geared toward individuals with FICO scores that are 720 or higher. FICO scores range from 300 to 850 - and the higher the score, the better your credit.

Credit cards for excellent credit often have low APRs, generous rewards, and high credit lines. That’s because credit card companies have faith that you’ll pay your bill on time, every time, if you’ve got excellent credit. Basically, good behavior is rewarded in the financial world.

If I don’t have bad credit, does that mean I have excellent credit?

Not exactly. The opposite of bad is good, not excellent - but you might not have good credit either.

As we mentioned above, FICO scores range from 300 to 850. If you don’t have bad credit, you might have poor credit (which is still bad credit, but slightly less bad), fair credit, good credit, or excellent credit.

How do I know if I have excellent credit?

Honestly, if you’re asking this question now, there’s a good chance you don’t have excellent credit. That’s because excellent credit doesn’t happen by accident; it takes careful planning and a lengthy history of responsible credit usage.

You can find out whether you have excellent credit by requesting a credit report. You’re allowed to get one free copy from each of the three major credit bureaus each year, but these reports don’t list your credit score. If you want your credit score, you’ll have to check loan documents (sometimes they list monthly score updates) or buy a credit score.

You can buy your FICO score at MyFico.com, but keep in mind that scores can change quickly. The score you see today might be totally different tomorrow, so consider a subscription service that lets you track changes to your score and view your updated credit history regularly.

Are credit cards for excellent credit better than credit cards for bad credit?

Yes, they’re usually much better. If you compare the benefits listed in our articles about the best secured credit cards and the best credit cards for bad credit, you’ll notice they’re nowhere near as impressive as the perks for cards tailored toward folks with excellent credit.

For example, credit cards for bad credit often require a security deposit. It’s refundable unless you default on the card - and many people do.

Cards for people with bad credit also have high APRs and few, if any, rewards. It’s not uncommon to pay a variable APR that’s higher than 25% if you have bad credit, but people with excellent credit can often get cards with rates that fall between 10% and 20%. People with excellent credit earn airline miles and cash-back rewards as high as 5%, but people with bad credit are lucky to score some free roadside assistance and 1% cash back.

If I have bad credit, is there any way I can get a credit card for people with excellent credit?

Yes, but you probably can’t do it on your own. If you know someone who has excellent credit, you can ask them to add you to their credit card account as an authorized user. This may help increase your credit score if you (and the original cardholder) use the card responsibly.

What is the best credit card for excellent credit?

We’re glad you asked! We’ve got several cards that we recommend for people who have excellent credit, but our favorite is the Chase Sapphire Preferred Card. It’s got plenty of perks, including no annual fee for the first year and tons of cash-back rewards.

Here are some other cards that are perfect for people with excellent credit:

  • Capital One Venture Credit Card
  • Barclaycard Arrival Plus World Elite Mastercard
  • Discover it Credit Card
  • The Amex EveryDay Credit Card from American Express
  • The Platinum Card from American Express

You can learn more about all of these cards by reading the article above this helpful tips section.

Applying for a Credit Card for Excellent Credit

How do I get a credit card for excellent credit?

You can get a credit card for excellent credit the same way you get a credit card for bad credit or average credit:

  • Apply online
  • Apply over the phone
  • Mail in a paper application
  • Apply in person at a local bank or credit union

Some credit cards for excellent credit card are only available by invitation, so keep an eye on your mailbox if you’re hoping for a hard-to-get card.

Do online applications for credit cards offer instant approvals?

Most of them do, yes. Sometimes there’s a delay (which we explain below), but usually you’ll know right away if you’re approved or rejected for a credit card.

Why did I get a message saying I’ll get a decision in 7 to 10 days?

Sounds like the credit card company needs more information about you before they can approve your application. Don’t panic, though - this doesn’t mean your app is getting rejected.

Here’s the deal: When you apply for a credit card, a computer verifies your information. It pulls your credit report and makes sure there are no discrepancies with basic info like your name, address, date of birth, etc. If you have recently moved or accidentally input some wrong info, there might be a delay.

The company might also need more time to process your application if you’ve got a security alert on your credit report or if you’ve been a victim of identity theft in the past. Companies also verify info that seems unusual, like if you’re a full-time college student who reports that you earn $500,000 a year.

Why does the credit card company want to verify my identity first?

Safety first! Credit card companies often offer generous lines of credit to folks with excellent FICO scores, so they need to make sure that you’re really you before they mail out a card.

You’ll also have to undergo an identity verification if you have a note on your credit report requesting one. You may not remember adding this note, but sometimes people place notes on their file after dealing with messy divorces, fraudulent charges, or identity theft.

Sometimes identity verifications are simply random requests that have nothing to do with you or your credit history.

Why did I get denied if I have excellent credit?

Rejection sucks, doesn’t it? It’s especially disappointing when you’re used to getting approved for nearly every credit card or loan you request.

Here are some reasons why someone with excellent credit might get rejected for a credit card:

  • Too many recent inquiries (meaning you applied for too many different cards or loans recently)
  • Too many new accounts
  • Debt-to-income ratio is getting too high
  • Recent collections or late payments

Another potential issue is that maybe you have average or good credit, not excellent credit. We talk more about this above, under the question titled “What is a credit card for excellent credit?”.

If I get denied for a credit card, when can I reapply?

Technically you can reapply whenever you want, but as a general rule, you should wait at least 6 to 12 months.

Don’t reapply until you’ve addressed any issues that caused the rejection. If your FICO is below 720, work on raising it. If your rejection letter stated that you had too many recent inquiries, give them some time to fall off your credit report (this can take up to 2 years).

Account and Usage Fees

Do credit cards for excellent credit have an annual fee?

Yes, many of them do. That’s because credit cards for excellent credit often have impressive benefits that outweigh the minor inconvenience of an annual fee. Plus, most popular cards waive the annual fee for the first year so you have time to test drive the card(s) of your choice.

Will I have a better APR than someone with bad credit?

You probably will have a decent APR if you’ve got excellent credit. It’s not uncommon to deal with APRs between 24% and 36% if you’ve got bad credit, but folks with excellent credit often have APRs that are less than 20%.

In fact, there are even some cards on our list of the best credit cards for excellent credit that have APRs that start between 10% and 12%. Keep in mind your APR is based on creditworthiness, which is just a fancy way of saying you’ll pay more interest if your credit sucks.

Can I withdraw cash at an ATM with my credit card?

Yes, but it’ll cost you a hefty fee with a high APR. APRs for cash advances are usually at least 25%, plus you have to pay a transaction fee.

This is still much cheaper than getting a payday loan, though.

How do I avoid paying interest on my purchases?

Depends on the card, but it should be clearly outlined in your cardholder agreement. If you decide to pay in full each month rather than carry a balance, you might be able to avoid paying interest on your purchases.

You can also take advantage of promotional deals. Many cards for excellent credit offer special introductory APRs of 0% for anywhere from 12 months to 21 months.

Improving and Maintaining Your Credit Score

How can I get excellent credit?

It won’t happen overnight, so be prepared to work hard. People with excellent credit generally share some common traits, including:

  • Very few, if any, late payments
  • A diverse mix of credit, including installment loans and credit cards
  • A low debt-to-income ratio
  • Hardly any collections or legal judgments
  • Credit lines with low balances and high limits
  • A lengthy credit history that shows responsible actions

If your credit needs some TLC, tackle negative items on your credit report before you request new lines of credit. After that, spend some time “in the garden,” as folks often say during credit repair.

“The garden” refers to the waiting period after you get a new card. Instead of applying for new cards or racking up a bunch of debt on existing cards, you just pay your bills on time and give your credit history time to grow.

How do I keep my FICO score high?

Keep your FICO score high by paying bills on time, and do whatever you can to prevent accounts from getting sent to a collections agency. Oh, and don’t get sued or get hit with a tax lien. These derogatory marks stay on your credit report for at least 7 to 10 years.

Don’t go crazy with your credit cards. Keep your balances below 30% - preferably much, much lower. For example, a card with a $10,000 limit should never carry more than a $3000 balance.

If you accidentally pay a bill late, contact your credit company ASAP. Many companies will remove late payments from credit reports for customers with a previous history of paying on time.  

Will I have excellent credit if I file for bankruptcy?

You might eventually, but it’ll take a while. When you first file for bankruptcy, your credit score might drop significantly. After your discharge, it might increase, but you’ll probably still be in the poor/fair range on the FICO scale.

If you want excellent credit after bankruptcy, follow the suggestions listed under the question titled “How can I get excellent credit?”. They’ll help you boost your score, but keep in mind that your discharged bankruptcy remains on your credit report for 7 to 10 years.

Common Issues and Concerns

Is it safe to apply for a credit card online?

Yes, as long as you take steps to protect your personal information. We don’t recommend applying for a credit card at work, school, or the local library, even if you’re using a secure connection. People can easily walk by and see what you’re doing, which puts you at risk for identity theft.

If you’re using Google Chrome, check the upper left corner for a lock. This indicates that you’re transmitting data via a secure connection.

You can also apply over the phone or request a paper application if you don’t feel safe. Many cards offer these options.

Will getting a new credit card lower my credit score?

Sometimes, but there’s also a chance that it will increase it. It’s hard to answer this question without viewing your personal credit history because new accounts affect everybody in different ways.

If you’re currently utilizing a lot of your available credit, adding a new credit card with a high credit limit can help lower your overall utilization rate. However, the credit check for the card - especially if it’s a hard pull - might knock some points off your FICO.

Help! My credit card was stolen!

Please open a new tab and find the contact info for your credit card company immediately - as in, right now. You need to report this ASAP so the credit card company can freeze your card.

You might be thinking, “Oh, but I have fraud protection, so what’s the big deal?” Well, fraud protection isn’t always instant or automatic. You might have to dispute the fraudulent charges, and that can take weeks - or even months!

In the meantime, your credit card will continue reporting your balance and payment history to the three main credit bureaus. That’s bad news if Cathy CoffeeLover stole your card and charged $3000 worth of Starbucks frappucinos before you started disputing her caffeine binge.

My interest rate is too high - can I get the company to lower it?

Possibly, but it depends on a few factors. We recommend reviewing the cardholder agreement to see the current APR range for your card. If the range is 15% to 24% and you’re hoping for a 10% APR, you’re probably out of luck.

If you currently pay the highest APR for your card, you might have some luck getting it lowered if any of the following apply:

  • Your credit score has improved significantly since you received the card
  • You’ve had the card for a long time and used it responsibly
  • You’re thinking about closing the card but want to give the credit card company a chance to keep you as a customer

When you call, be polite. Don’t demand a new interest rate; ask for a supervisor and calmly explain why you feel you deserve one. If the supervisor says no, call back another time and try again.

What should I do if I can’t pay my bill on time?

Contact the credit card company immediately! Sometimes a company is happy to extend your due date or waive a late fee if you usually pay on time.

Also, calling the company might prevent them from blowing up your phone every 5 minutes to remind you your bill is due. If you’ve ever paid late, then you know what we mean.

Missy Nolan is a single mom who is too sleep-deprived to come up with a clever bio at the moment. She has been a professional writer for more than 10 years and loves staying home with her 3 kids. Well, most of the time. Missy rocks at parenting, baking, cooking, saving cute outfits she'll never wear on Pinterest, and sipping her beloved secret-menu Starbucks Pink Drink while strolling through Target.

She's your go-to girl for advice or feedback on any of the things listed above, as well as tips on healthy living, bargain hunting, marketing, and finances. Connect with Missy here or at MakeItWithMissy.com, a food blog that features healthy recipes and grocery deals.

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