Credit Cards for Consumers with Good Credit
Save money and maintain your excellent credit by being an informed consumer. balance transfer and cash offers starting at 0% for a few months or a lower interest until paid”Good credit” credit cards now offer interest rates starting at 7.99% – but with periodic in full. Typically, the lower interest will be 4.99% to 5.99%
Some cards offer low introductory rates from the time you sign up, while others will send you promotional offers after you have been with the credit card issuer for a time. These offers are sent to selected consumers with excellent credit, in order to keep your business.
Most credit cards for good credit carry no annual fee, although some rewards cards do.
Your choices as a consumer with good credit are:
• No frills – lowest interest
• Cash back rewards
• Points rewards
• Miles rewardsuse a business card
As an individual with good credit, you have the ability to pick and choose from all the cards available. By owning more than one of these cards, you also have the ability to transfer balances between them to obtain the lowest possible interest on balances you must carry from month to month.
Of course you can and should use different cards for different purposes. For instance, use a rewards card for personal purchases you pay in full each month, and a “lowest interest” card for balances you’ll carry. If you own a business, for all business-related purchases. This will simplify your bookkeeping and could allow you to deduct any interest paid on business purchases. Check with your tax preparer to learn the regulations for deducting business interest on credit cards.
In order to maintain your “excellent” credit status, keep your balance below 30% of your available credit – even if you pay the balance in full each month. If your expenses are higher than that, ask for a credit line increase, or obtain a second card to carry the additional charges.
Your mailbox is probably filled with offers, but do be careful. The offer in your mailbox may not be the best offer. With excellent credit, you can have any one you choose, so click here to compare. Click on the link to “view rate and term details” for those that interest you most.
You’ll find differences in more than the interest rate and rewards. For instance: the grace period. Some cards charge interest from the day of purchase, while you’ll pay no interest at all on other cards when you pay the balance in full each month.
