Excellent Credit Cards
Excellent credit cards are created for individuals with a spotless credit report and very high credit score.
This is because these cards reward card holders with cash back or a rewards program. Additionally they will have the lowest APR and no annual fee.
Also these cards have promotional introductory 0% APR and low balance transfer APR%.
Many people wonder how the credit crisis has affected these cards? It is true even excellent credit cards have taken a hit.
The lenders have created more stringent approval requirements, lower credit limits, and less aggressive reward programs.
However lenders are desperate for 'excellent credit risks' they need to drum up money to pass the governments stress tests.
If you have an excellent credit rating you can absolutely still get credit. And be rewarded handsomely for your spending.
We suggest the Discover More Card. It comes with a 0% Introductory APR for the first 12 months and then a low 10.99% APR.
There is no annual fee and you have a 0% balance transfer APR for the first 12 months.
And you can earn up to 5% cash back with no limit to the amount of cash you can earn.
In addition if you have an excellent credit score it is important to keep watch over your credit reports.
This will help prevent unauthorized use and lender mistakes. In a recent study it was found that 64% of people have a mistake on their credit report.
In other words get a copy of your TransUnion credit report, then wait 4 months and get a copy of your Experian report, wait another four months and then get a copy or your Equifax report.
It is true each bureau has a different credit report, however if something funny is going on with your credit you should be able to spot it from any report - regardless of the bureau.
Congratulations on having an excellent credit score and make sure to keep it up. That three digit number costs you thousands to tens of thousands to hundreds of thousands of dollars over the course of a lifetime.
|
