Your credit score will have a large affect on the type of credit card you are eligible for. Credit cards can be very convenient and can help you get yourself out of certain financial problems. Having a credit card and paying it off on time each and every month can help to improve your credit score and save you money in the future by making you eligible for lower interest rates and of course earning yourself rewards, points, and even cash back.
There are numerous instances where a credit card can get you out of a jam, but they also carry with them responsibility. Credit cards are one of the leading causes of negative affects to your credit score. It is sometimes too easy to just swipe the card and not feel the financial burden until it is too late. Your credit score is incredibly important to your personal financial health and should be closely monitored.
Here is some information on the types of credit cards you can expect to get if you fall within certain ranges on the credit score scale.
Excellent Credit Credit Cards
If you have excellent credit, then you may qualify for the features that come with an excellent credit, credit card. Those considered to have excellent credit, have a credit score in the range of 700 to the maximum of 850. Some credit card providers have tightened the range to 750 and above to be considered to have excellent credit.
There are many benefits to having an excellent credit, credit card. With a high credit score you have the most options of anyone. You can pick and choose the credit card or cards you wish to have. The following benefits are available as features on an excellent credit, credit card. Not all of these benefits are available on all excellent credit, credit cards, but these are some of the most common perks.
- Faster Building of Rewards Points
- High Credit Limit
- Introductory Rates
- Low APR
- No Balance Transfer Fees
- No Late Fees
- No Over-the-Limit Fees
Being eligible for the best credit cards available offers you more choices, but it also makes for more decision making. As a person with excellent credit, you will qualify for most, if not all, credit cards. This allows you to choose the best interest rates, customer service ratings and rewards programs.
Rewards programs have become an increasing trend in the credit card industry and have now become more than just a selling point, but a major factor in the decision making process of those seeking credit cards. While reward points are increasingly important, you should never lose sight of the APR. The APR, or annual percentage rate, is what determines the interest you have to pay if you do not pay off your purchases within the grace period. A low APR will save you lots of money in interest payments during the year.
Below is a list of some of the credit cards available for those with excellent credit:
- Capital One No Hassle Miles Rewards Card
- Clear from American Express Card
- Chase Platinum Visa Card
- Citi Platinum Select Card
- Total Merrill SM Cash Back Visa Card
Good Credit Credit Cards
Those without excellent credit can still get a quality good credit, credit card. If your credit score is between 680 and 699, you will generally be considered to have good credit. With good credit there are still plenty of options available and your good credit will still save you a large amount of money on credit card interest.
The difference between excellent credit and good credit is very slight, so many of the same card features are made available to those with good credit. Your APR will be only slightly higher than those with excellent credit. It is possible for someone with excellent credit to pay a higher APR than someone with good credit if they have credit cards through different companies.
The biggest difference between a good credit, credit card and an excellent credit, credit card is that the no late fees and no over limit fees may only be offered to those with excellent credit. The credit limit for a good credit, credit card is also generally lower than the credit limit for an excellent credit, credit card.
Here are a few of the most prominent credit cards available for those with good credit:
- Blue From American Express
- Capital One Prestige Platinum
- Merrill+ Visa Card
Fair Credit Credit Cards
If you have fair credit, you are likely in the market for a fair credit, credit card in order to help boost your credit into one of the higher credit classes. If you have a credit score between 620 and 679 you will generally be classified into the category of having fair credit. However, if you are at the higher end of this range, you may be considered to have good credit by some credit card companies.
You will have to settle for higher APR’s and lower credit limits than those with good or excellent credit scores. Also, you will be more likely to have to pay an annual fee as someone with fair credit.
Here are a few of the more noted fair credit, credit cards available:
- Capital One Standard Premium Card
- Capital One Classic Platinum
- First PREMIER Bank Centennial Gold
Poor Credit Credit Cards
If your credit score is below 620, most credit card companies will classify you as having bad credit. While this is not ideal, there are bad credit, credit cards available that can be beneficial to you. With a bad credit, credit card you will probably not have access to the best rewards programs or lowest interest rates. Most credit cards for those with bad credit will have an annual fee and a lower credit limit.
Another option for those with bad credit is a secured credit card. A secured credit card simply means that you have to leverage the credit card with something that you own of value. It can be as simple as cash, or things such as jewelry, a car or anything with an assessed value.
Not only does a credit card offer convenience and a safety net in case of emergency, but if you have bad credit you can use a credit card to increase your credit score. In this case, it is extremely important that you use the credit card responsibly. You will be surprised how a few months of timely payments will increase your credit score and will also many times lead to an increase in your credit limit with your credit card provider.
Here are a few of the more popular poor credit, credit cards:
- Centennial MasterCard/Visa
- Gold MasterCard/Visa
- Bank of America Secured Visa Platinum
No Credit History Credit Cards
If you have no credit history you may have just as much trouble getting a credit card as those with fair or poor credit. There is no cause to worry because credit can be built rather easily and rather quickly. A no credit history, credit card will not offer as many benefits as other cards, but it will offer you the convenience of a credit line and the ability to increase your credit score.
You will likely have to pay an annual fee, your APR will be higher and your credit limit lower on a card approved with no credit history. As you make your payments in a timely fashion, your credit limit will increase and you can begin to leverage your increasing credit score to move up to a no annual fee card and a card with a lower interest rate.
Here are a few of the more popular credit cards available to those with no credit history:
- Citi Platinum Select MasterCard
- Capital One Standard Platinum MasterCard
- Capital One Classic Platinum MasterCard
- Capital One Platinum Max MasterCard
Compare Credit Card Rates Online Now!
Comparing credit card rates doesn’t get much easier!
Our free online credit card finder helps you compare rates, reward programs, fees, and more from different banks and credit card companies side by side.
Find out which credit card is the best for you – get started using our credit card “chaser” now!
- Capital One Bank (USA), N.A. World MasterCard Credit Card
- Capital One Secured MasterCard Credit Card
- Capital One, National Association World MasterCard Credit Card
- What is a good estimated credit score to get credit cards?
- Capital One MasterCard Offers for You
- McCoy Federal Credit Union Visa Platinum Credit Card
- Capital One Platinum Prestige Credit Card