Best Credit Cards For Good Credit Scores 2016

A good credit score can be any FICO credit score that falls within the range of 700 to 749. FICO credit scores are commonly used by lenders to approve new loans and lines of credit. If you have a good credit score, you’re financially more trustworthy than the average American (the average FICO credit score is 695, according to the Fair Isaac Corporation).

Having good credit will increase your chances of getting loans, lower interest rates and higher credit limits. These benefits can lead to thousands of dollars in savings in the long term. With a good credit rating, you’re likely to qualify for many credit cards -- especially the credit cards that tend to offer attractive rewards and perks.

MyBankTracker experts picked the top credit cards for people with good credit:

Best for Everyday Spending

Discover it has a 5% cash  back program

Discover it offers the most well-rounded cash back credit card for consumers who have good credit. With no annual fee, you get a cash back program that provides 5% cash back on certain purchase categories that change every quarter (they are typically season-appropriate categories), while all other purchases earn a flat 1% cash back. Other great card benefits include free monthly FICO credit scores, no penalty APR, no late-payment fee for the first late payment and no foreign transaction fees.

How cash back programs work

Cash back credit cards allow you to earn money back on your spending. Normally, you receive a small portion of your purchase as rewards cash back (e.g., 1% of your purchase) and you accumulate this cash back until you’re ready to redeem it.

The cash back programs can vary greatly from credit card to credit card. Some programs will allow cardmembers to earn higher cash back rates on specific types of purchases (e.g., groceries, gas, restaurants, etc.) while other programs offer a flat cash back rate on every single purchase. The high cash back categories may change from every three months or annually. Typically, the categories tend to align with the common consumer trends of the season (i.e., home improvement during the spring).

When picking the best cash back credit card for you, you should first determine your spending habits by reviewing the last 6 to 12 months of credit card activity. You’d want a credit card that will offer high amounts of cash back on your largest purchase categories.

What to redeem cash back for

Depending on the credit card, the cash back can be redeemed in different ways. Most commonly, the money can be collected in the form of a mailed check, direct deposit or statement credit (basically a deduction of your credit card balance).

You may even be allowed to redeem the cash back through gift cards or merchandise. More credit card companies are partnering with retailers so that customers can directly use their cash back to pay for purchases, such as those made on Amazon.com card.

Runner-up Credit Cards for Shopping

Read more about the specifics of rewards credit cards and learn some of the strategies for using these cards to maximize your rewards.

Best Travel Card for Airlines and Hotels

Capital One Venture Rewards offers simple travel rewards

The Capital One Venture Rewards card is a credit card for people who at least has good credit and it offers generous travel rewards on all kinds of spending. You earn 2 miles per dollar spent on every single purchase. Most notably, each mile can be redeemed at a value of 1 mile per cent for a statement credit on a recent travel purchase. Therefore, you can look for the cheapest travel option on your own (such as using a discount travel website) and use your miles to “erase” the travel purchase.

The card has an annual fee of $59 (waived for the first year). There is an introductory bonus of 40,000 miles after you spend $3,000 within the first three months. The sign-up bonus is worth $400 in free travel.

How travel rewards credit cards work

A travel rewards credit card focuses on providing cardmembers with the opportunity to receive free or low-cost travel options as a reward for their spending. Like with many frequent traveler programs operated by airlines, travel rewards programs tend to track their cardmember rewards with “miles” as the currency. The value of each mile may vary by credit card, so it is important to understand what kind of travel rewards can be redeemed with your miles.

Credit cards from major brands

With branded travel rewards credit cards, such as those offered in partnership with airlines and hotel companies, the reward may be limited to flights or hotel accommodations provided by those companies. Other credit cards may have rewards programs that offer a wider selection of travel redemptions that span several brand partners, so you can use your miles to redeem for travel rewards that will best fits your desire.

Bonus offers on travel rewards credit cards

Travel rewards credit cards often come with enticing sign-up offers that include hundreds of dollars worth of free travel. However, they will usually require you make a certain amount of purchases during the initial months of card ownership in order to earn this bonus.

If you believe that you’ll have difficulty meeting the spending requirement with regular spending, you’ll have to plan you to sign up for a credit card when you’re about to make a major purchase.

Watch for annual fees

In addition to requiring good credit for approval, travel credit cards often charge annual fees because of their beneficial rewards programs and perks. Annual fees are typically charged on your card membership anniversary and can range from around $40 to $500. Most annual fees are waived for the first year.

Before signing up for any credit card with an annual fee, you should estimate how likely you will recoup that cost of the annual fee through your card’s rewards program and perks. You can project the value of the rewards that you’ll earn with your current spending pattern, or consider how much value you’ll get from the card’s perks (e.g., free checked bags on flights).

Runner-up Travel Credit Cards

Read more about of travel credit cards and learn some of the strategies for using these cards to maximize your travel perks.

Best Card With Low Interest

Barclaycard Ring MasterCard features unlimited balance transfers

The Barclaycard Ring MasterCard is the best low-interest credit card that you can get with a good credit. The card has a regular APR of 8.25% while it also has no annual fee or foreign transaction fees (for using your card internationally). Notably, you can transfer balances from other credit cards to the Ring MasterCard for free, which allows you to move high-interest debt to this card with the purpose of reducing interest charges and saving money.

Interest is accrued differently for balance transfers

You have to pay interest charges when you use your credit card to buy things and you don’t pay off your credit card balance in full. For transactions such as balance transfers and cash advances, interest begins accruing immediately.

How interest charges are calculated

The interest charge is calculated based on your credit card’s APR, which can vary by card and by person (two people can have the same credit card but have different APRs). Furthermore, there may be different APRs that apply to the balance if portions of the balance were incurred through other ways -- interest rates can vary for purchases, balance transfers and cash advances.

Credit card companies calculate your credit card APR starting with The Wall Street Journal’s Prime Rate, which is 3.50% as of February 20, 2016. A certain percentage is added to the U.S. Prime rate depending on your creditworthiness. With a better credit score, you’re considered a less risky borrower, so a smaller amount is added to the Prime Rate when determining your APR.

What is considered a low interest rate

Generally, an interest rate of less than 10% can be considered low. Borrowers with bad credit scores can have credit card APRs that are nearly 30%.

Balance transfers are often used by borrowers to consolidate debt with the goal of paying less interest on their credit card debt. The idea is to move high-interest debt to a card with a lower interest rate. Most credit cards allow balance transfers but the typical fee for such a transaction is 3% of the transferred amount. Some credit cards may waive the fee temporarily or opt to not charge it at all.

Tip: Using a no-balance-transfer-fee credit card, you can transfer your balances from other high-interest rewards credit cards when you believe you won’t be able to pay off your balances completely. Essentially, you reap the rewards of high-interest credit cards without facing their hefty interest rates.
Balance transfers are subject to approval by the credit card issuer. When you perform a balance transfer, you may not exceed your card’s credit limit.
Learn more how to maximize your savings with low interest cards or balance transfer credit cards.

Runner-up Low Interest Credit Cards

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Ask a Question

MyBankTracker
Monday, 15 Aug 2016 6:16 PM
<p>Justin, you might consider a secured credit card. For one with no annual fee, the Discover it Secured card or the Capital One Secured MasterCard are good choices. The Wells Fargo Secured Visa lets you have an extremely high credit limit, which can help you boost your credit significantly (but it has an annual fee).</p>
MyBankTracker
Monday, 02 May 2016 4:34 AM
<p>PenFed is actually a credit union: Pentagon Federal Credit Union. Credit unions have membership qualifications that must be met before people can join and open accounts. These qualification include employment with the U.S. government or military affiliation, but you can also join with a small one-time donation to an associated organization.</p>
MyBankTracker
Monday, 02 May 2016 4:31 AM
<p>Discover it is an unsecured credit card. There is a Discover it Secured credit card but the cash back rewards program is a little different.</p>
MyBankTracker
Monday, 02 May 2016 4:30 AM
<p>mason, note that Citi Simplicity does not offer a rewards program.</p>
MyBankTracker
Monday, 02 May 2016 4:30 AM
<p>The Chase Freedom and Chase Freedom Unlimited credit cards offer cash back rewards. Meanwhile, Citi Simplicity doesn't offer rewards but its main feature is the long introductory 0% APR period, in addition to no late fees.</p><p>They serve different purposes. If you're looking for a specific card for your situation, we're glad to help guide you toward the one that best fits you.</p>
MyBankTracker
Monday, 02 May 2016 4:27 AM
<p>Lucy, the rewards are issued to the primary cardmember.</p>
MyBankTracker
Monday, 02 May 2016 4:27 AM
<p>Donna, be sure to note the difference between finishing up bankruptcy and have a bankruptcy fall off your credit report, which are two separate events. If you just finished filing bankruptcy, your credit is likely to be too damaged to qualify for a regular credit card. If this is the case, you should look into a secured credit card: <a href="http://www.mybanktracker.com/credit-cards/secured/best" rel="nofollow">http://www.mybanktracker.com/c...</a></p><p>If bankrupcty just fell off your credit reports, you should first check your FICO credit score before applying for any new credit lines. Then, you'll be able to see the best options available for you.</p>
MyBankTracker
Monday, 02 May 2016 4:23 AM
<p>Joan, Barclaycard recently launched the CashForward card which offers 1.5% cash back on all purchase, which is worth taking a look if you're thinking about converting to a card with cash back.</p>
Friday, 29 Apr 2016 5:12 PM
<p>What bank is PenFed Platinum Rewards Visa through? I've never heard of them.</p>
disqus_IYKrUxW1Xy
Thursday, 28 Apr 2016 6:39 PM
<p>I'm really leaning toward applying for the Discover It card....I love how you can freeze your activity, to hopefully prevent any unauthorized purchases. Would this be considered a secured or unsecured credit card?</p>
Thursday, 28 Apr 2016 1:51 PM
<p>Hey Judie, I was looking at it too and it looks like Citi Simplicity has better rewards.</p>
Wednesday, 27 Apr 2016 10:41 PM
<p>I'm a little confused about new chase freedom unlimited and chase freedom credit cards and how it compares to citi simplicity. help!</p>
MrJustinBradshaw
Tuesday, 26 Apr 2016 3:00 PM
<p>Is there a particular card you would recommend to build my credit faster?</p>
disqus_IK833n1mzI
Monday, 25 Apr 2016 7:50 PM
<p>Hi, seeing some cards here with rewards available....if I need a cosigner for any of these, who gets the reward?</p>
Friday, 22 Apr 2016 2:19 PM
<p>Hi, I just finished up with my bankruptcy, and I'm not sure yet of my credit right now, but is there one that I can possibly get?</p>
MyBankTracker
Thursday, 21 Apr 2016 2:36 PM
<p>Generally, the more rewards and perks that come with a credit card, the higher the credit score requirement.</p>
MyBankTracker
Thursday, 21 Apr 2016 2:14 PM
<p>Bob, yes, PenFed is a credit union but there are easy ways for you to obtain membership. Employees of the U.S. government, military personnel and those affiliated with qualifying organizations are eligible for membership.</p><p>Everyone else can qualify for PenFed membership by making a one-time donation of $14 to Voice for America's Troops or $15 to the National Military Family Association.</p>
Thursday, 21 Apr 2016 12:57 PM
<p>How do i get PenFed credit card? Isn't PenFed is a credit union?</p>
disqus_g6hihp3YOD
Wednesday, 20 Apr 2016 2:59 PM
<p>I have always been a fan of the Capital One credit card thanks to the travel rewards that come with it. Why is it that you need a higher credit score to qualify for certain cards, but not others? Reading this article, I am now interested in the Discover credit card as well.</p>
JoanThomas114
Wednesday, 20 Apr 2016 8:15 AM
<p>I actually had the Barclaycard when I was trying to improve my credit score. I loved it. I'm actually considering changing and getting a credit card with perks. I love the ones that give cash back. Travels perks wouldn't work well for me because I don't fly, but they are great for people who do. </p>
MyBankTracker
Tuesday, 19 Apr 2016 9:28 PM
<p>Jackson, for just your grocery spending alone, you should get the American Express Blue Cash Preferred card because it offers 6% cash back at supermarkets. Even with the card's $75 annual fee, it's worth it.</p><p>For your air travel, you might be better off with a versatile travel rewards card as opposed to a branded airline card. Chase Sapphire Preferred would make a great fit because the points earned on travel can be transferred to Southwest Airlines.</p>
MyBankTracker
Tuesday, 19 Apr 2016 8:02 PM
<p>Karen, your very first step should be to check your credit reports if you haven't already done so. Dispute and remove any errors that may appear.</p><p>To see the other ways you can boost your credit score above 700, please refer to the following article: <a href="http://www.mybanktracker.com/credit-cards/credit-score/how-raise-credit-score-above-700-254098" rel="nofollow">http://www.mybanktracker.com/c...</a></p>
MyBankTracker
Tuesday, 19 Apr 2016 7:59 PM
<p>Going by the graph, you have fair credit. But, don't let this discourage you from applying for a credit card that requires "good" credit because you still have a very good chance of qualifying for one.</p>
Tuesday, 19 Apr 2016 7:55 PM
<p>Hi, I would like to apply for a good credit score credit card but my score is only just above 600, how can I improve my score by 100 points fast?</p>
Monday, 18 Apr 2016 10:32 PM
<p>I have credit score of 699, do I still in the range of faire or good credit score?</p>
Sunday, 17 Apr 2016 1:13 PM
<p>Hi I have a good credit and want to find the best card for earning travel rewards. I mostly fly Alaska or Southwest and spend $5,000 on groceries a year. Advice please!</p>
MyBankTracker
Sunday, 17 Apr 2016 3:27 AM
<p>You can use our credit card comparison tool to filter credit cards that offers a 0% APRs and low APRs: <a href="http://www.mybanktracker.com/credit-cards/compare" rel="nofollow">http://www.mybanktracker.com/c...</a></p><p>Or, check out our most recommended low interest credit cards here: <a href="http://www.mybanktracker.com/credit-cards/low-interest/best" rel="nofollow">http://www.mybanktracker.com/c...</a></p>
disqus_9RITiL0vp9
Friday, 15 Apr 2016 7:32 PM
<p>Thank you for answering, where can i find zero percent credit cards?</p>
MyBankTracker
Thursday, 14 Apr 2016 7:04 PM
<p>Some credit cards have an introductory period where the APR is reduced or at 0%. The ongoing APR is the interest rate that applies after this introductory period is over. On many credit cards, your credit score will determine your APR.</p><p>On the Barclaycard Ring MasterCard, if you're approved for the card, your APR is 8.25% APR automatically. The "variable" part of the APR means that it can change in the future. For instance, if the Federal Reserve raises the benchmark interest rates, your APR will increase as well.</p>
disqus_9RITiL0vp9
Thursday, 14 Apr 2016 6:24 PM
<p>What does it mean Ongoing: 8.25%* Variable APR? Does it change depending on credit score?</p>
MyBankTracker
Wednesday, 13 Apr 2016 9:20 PM
<p>Compared to Visa and MasterCard, Discover is accepted at fewer locations. Many people have the same issue with American Express credit cards. However, it shouldn't be a major problem because Discover cards very likely to be accepted in most of the places that you visit.</p>
Wednesday, 13 Apr 2016 8:44 PM
<p>I'm looking for open a new credit card, is that true that Discover is not accepted everywhere?</p>
MyBankTracker
Thursday, 07 Apr 2016 3:58 PM
<p>Jeff, can you clarify your question? Personal loans and credit cards tend to be used for different purposes.</p>
MyBankTracker
Thursday, 07 Apr 2016 3:54 PM
<p>Tina, to get your FICO credit score (the score that most credit card issuers use for approvals), you would have to pay about $20 for it. But, you probably don't really need to do that.</p><p>You can obtain a free credit report from <a href="http://AnnualCreditReport.com" rel="nofollow">AnnualCreditReport.com</a>. If you don't have any major negative marks, you are in good shape. If you have little credit history, however, you might not qualify for the credit cards on this list because your credit may not be good enough yet.</p><p>Instead, consider building good credit first with a student credit card: <a href="http://www.mybanktracker.com/credit-cards/student/best" rel="nofollow">http://www.mybanktracker.com/c...</a>.</p>
Wednesday, 06 Apr 2016 11:00 PM
<p>I have the same question, I'm not sure if I should go with personal loan or credit cards. Help Please!</p>
Wednesday, 06 Apr 2016 9:36 PM
<p>I'm a student, where do I check my credit score? Can I still try to apply for these credit cards even I don't know my credit score?</p>
MyBankTracker
Wednesday, 06 Apr 2016 3:42 PM
<p>Matt77, is there a particular Barclaycard credit card that you are asking about? If you're asking about the Ring MasterCard, you're likely to qualify for it with a FICO credit score of 700 to 750.</p>
Wednesday, 06 Apr 2016 12:33 PM
<p>What is a good credit score range to get Barclaycard?</p>