Top Credit Cards for Excellent Credit in 2020

Top Credit Cards for Excellent Credit in 2020

December 30, 2019         Written By Bill Hardekopf

LowCards is a Citi partner. These offers, valid when the article was written, may have expired. View our full editorial disclaimer here.

To a large extent, the interest rate on your credit card is determined by your credit score. Consumers with a high credit score are considered to be low risk, so issuers reward them with the lowest interest rates. Conversely, those cardholders with lower credit scores have higher interest rates because they are deemed to be at greater risk of defaulting on the loan.

Therefore, it is extremely important to do everything possible to raise your credit score. FICO scores over 750 are considered excellent. If you have that type of credit score, here are some of the top credit cards for you in 2020:

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The is considered one of the best travel rewards card in the industry due to its low fees and great rewards opportunities. It offers 0% APR for the first 12 months on purchases, and then a relatively low 14.49% - 24.49% (Variable) APR after that. For those who like to travel abroad, Capital One VentureOne has no foreign transaction fees. You get 1.25 miles for every $1 you spend on the card, which can be redeemed for travel expenses. This is in addition to the 20,000 bonus miles you’ll receive (equivalent to $200) if you spend more than $1,000 on your card during the first three months of card ownership. These miles can be used on any airline or hotel, and have no blackout dates. The card has no annual fee. If you make a lot of purchases on your credit card, you may want to consider the . This does have an annual fee of $95 after the first year, but pays two miles for every dollar you spend. In addition, it has an upfront bonus of 50,000 miles once you spend $3,000 during the first three months. You also receive up to a $100 application fee credit for Global Entry or TSA Pre✓®

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The  offers you the chance to earn cash back twice on everything you buy. You earn 1% cash back on all purchases at the time of the transaction, and another 1% when payment is made, for a total of 2% cash back. This card also offers 18 months of 0% APR introductory financing on balance transfers, with a 3% balance transfer fee. Once the promotional financing rate expires, a standard interest rate of 13.99% – 23.99% (Variable) will apply to the remaining balance, which is a variable rate based on the Prime Rate. There is no annual fee on this card.

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Along with no annual fee on the , the card comes with one of the best introductory offers of any major credit card: 0% APR for 12 months on purchases and 21 months for balance transfers, as long as the transfer is made within the first four months of being a cardholder. Subsequently, cardholders can expect an APR of 14.74% - 24.74% (Variable) depending on their credit worthiness. The card also has no annual fee, late fees or penalty fees. The card does not have a rewards program. You’ll need an excellent credit profile to be approved for this card.

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The is a new and unique rewards card. Citi rounds up the ThankYou points earned with each purchase to the nearest 10. For instance, if a purchase qualifies for 15 ThankYou Points, that reward will be rounded up to 20 points. This occurs for every transaction, no matter how small. The card features a 15,000 ThankYou Point sign-up bonus. To earn the extra rewards, cardholders must spend $1,000 on the card during the first three months of card membership. The card earns two points per $1 spent at gas stations and supermarkets, for the first $6,000 in annual purchases made in those categories. All other transactions earn one point per $1. Cardholders will also get back 10% of their rewards on the first 100,000 points they redeem each year. There is a foreign transaction fee of 3%, as well as a balance transfer fee of $5 or 3% per transaction, whichever is greater. The introductory APR on purchases and balance transfers is 0% for the first 15 months. The standard APR is 13.49% - 23.49% (Variable), depending on credit worthiness. There is no annual fee on this card.

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This card has one of the industry’s best introductory offers in terms of APR. The has a 0% introductory APR for 21 months on balance transfers (must be made within the first four months of card membership) and 12 months on purchases. Then, an ongoing APR between 13.74% – 23.74% (Variable) depending on your credit worthiness. There is no annual fee on this card but there is a 5% balance transfer fee on the amount transferred.

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The is a relatively new card on the market with some attractive features. There is an introductory APR of 0% for 12 months on purchases and 18 months on balance transfers. The ongoing interest rate is 14.40% - 24.40% (variable) based on your credit worthiness. New cardholders can earn a $150 statement credit after spending $1,200 on purchases within the first 90 days from account opening. One point is earned for every dollar spent, and you can earn 5x rewards on up to $1500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive. Late payments don’t raise your APR.  There is no annual fee on this card.

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The offers customers 1.5% cash back on all purchases with no limits. New cardholders receive a $150 cash bonus when they spend $500 on purchases within the first three months of opening the account. Customers get 15 months of interest-free financing on both new purchases and balance transfers, with a 3% balance transfer fee. After the introductory financing period ends, the standard interest rate of 15.49% - 25.49% (Variable) applies. This card only requires the applicant to have a good credit score. There is no annual fee on this card.

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The is marketed to foodies—people who love dining out or creating meals at home. Cardholders earn 1% cash back on all purchases, but the rewards are particularly good on dining out and entertainment (4% cash back) and grocery store purchases (2% cash back). New Savor cardholders receive a $300 cash bonus when they spend $3,000 within the first three months of being a card member. The Savor card has an APR of 15.99% - 24.99% (Variable), depending on the cardholder’s credit. It has an annual fee of $95 that is waived during the first year. There are no foreign transaction fees on this card. If you don’t want to pay an annual fee, the  is available. It rewards cardholders with 3% back on dining out and entertainment, 2% on groceries and 1% on all other transactions. The early spend bonus is also a bit scaled back: customers earn $150 if they spend $500 during the first three months of having an account. But there is a nice introductory offer of 0% APR for 15 months on both purchases and balance transfers.



The information contained within this article was accurate as of December 30, 2019. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.


bill-hardekopf

About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
View all posts by Bill Hardekopf
Top Features : Long intro APR period especially for balance transfers; No annual fee
Top Features : 0% APR for 21 months on Balance Transfers and 12 months on Purchases; no annual fee, late fee or penalty rate
Top Features : Only card to round up rewards to nearest 10 points; 15,000 bonus points after spending $1,000 in first 3 months
Top Features : 4% cash back on first $7000 in eligible gas purchases; 3% at restaurants & eligible travel; 2% at Costco & Costco.com
Top Features : No annual fee; $150 statement credit after spending $1,200 in first 90 days; 0% on Purchases for 12 months and Balance Transfers for 18 months