Q: I have a FICO score of 767 and I'm looking for a credit card with a low APR and a high credit line. Can you recommend any cards with those specs?
A FICO score in the mid-to-high 700s won't get you access to unlimited credit, but it will open up plenty of attractive credit card deals. We've got three that might fit your needs.
If you had asked that question a few years ago, I would have answer ed that you'd probably qualify for just about any credit card deal in our database. Times have changed, though, and a 767 score only puts you in what banks would call the "good credit" category. You haven't told me what you'll want to do with that high credit line, so I'll give you some suggestions based on what we see most often here in the mailbag:
- Big travel plans -- Capital One Venture Card. For an annual fee of $59 (which is waived the first year) this card that for excellent credit can earn you the equivalent of a 2 percent rebate on your travel purchases. Plus, it allows you to redeem your points to "erase" a travel purchase from your statement - giving you flexibility to book travel arrangements any way you like.
- Long-term savings -- IberiaBank Visa Classic. One of the best low interest credit cards comes from a bank you've probably never heard of. Your FICO score might just qualify you for a variable rate that's just 4.25 percent above prime. At the beginning of 2013, that's just 7.25 percent, a few full percentage points lower than most other cards on the market.
As you compare credit cards online, remember that most banks trade rewards for higher APRs. If a low interest card is your biggest goal, look for "no frills" credit cards that give you plenty of headroom. Take advantage of balance transfer offers to even out your credit utilization across all your accounts, so you can maintain that above-average credit score.