According to Experian, an “excellent” or “exceptional” credit score falls in the range of 800 to 850. While it’s a challenge to reach this level, once you’re there you’ll realize it can benefit you in a number of ways.
For example, if you have excellent credit, you’re likely to qualify for almost every credit card offer. And that greatly increases the likelihood of finding one that meets all (or most) your requirements.
While knowledge of your excellent credit score is a good start, there will come a time when you need to take action. Here’s what you should do to find the best credit card for consumers with excellent credit:
- Make a list of must-have features: For instance, you may be most interested in a cash back or travel reward credit card. No matter what’s important to you, include it on your preliminary list. You can always adjust it at a later date as you learn more about what’s available.
- Compare offers: Once you have a list of must-have features, you can begin to compare offers with the idea of finding the one that most closely matches your requirements. If you’re lucky, you’ll find at least one that has everything you’re looking for.
- Ask questions: If there’s anything that’s unclear, contact the issuer for additional information. Applying for a credit card is a big decision, so you don’t want to rush. It’s best to know exactly what you’re getting before you make up your mind.
Along with the above, spend enough time focusing on the details that don’t excite you but are important nonetheless. Answer questions such as:
- What are the fees associated with the offer? Is there an annual fee?
- What is the APR?
- What type of safety and security measures are available?
- What does the online account management system look like? How simple is it to use?
As you answer these questions, you can combine your new knowledge with the information gathered in the steps above. This will leave you with everything you need to make an informed and confident final decision.
Should You Wait to Apply?
There are people who need a credit card now, and want to apply as quickly as possible. There are also people who can afford to take their time, as they already have a credit card they can use in the interim.
There are many good reasons to wait, such as if you’re on the cusp of achieving an excellent credit score. You may want to give yourself a couple of months to see if you can reach a score of 800 or above. Doing so will provide you with access to more offers.
With the help of an excellent credit score, you’ll find it much easier to obtain the perfect credit card.
There are hundreds upon hundreds of offers to choose from, and you’re likely to qualify for the majority of them. So, take your time, compare the best offers, and make a final decision when you’re comfortable doing so.