Credit Cards for Good Credit

If you have good credit, there are a wealth of credit cards available to you. Before you decide which one the best for your particular needs, you'll need to make some decisions. Do you want to carry a balance or pay off your debt in full each month? Do you want to transfer a balance from a credit card with a higher rate? Or do you want to earn rewards such as cash or frequent flier miles? Once you know the answers to these questions, you can apply for the credit card that meets your needs.

What is considered a good credit score?

If you have been responsible with your credit cards, paid your bills on time and haven't taken on too much debt, credit card companies are eager to have your business. While exact credit score standards vary, in general, a credit score of 700 and above should put you in the category of someone with good credit. You can leverage that good credit into qualifying for the credit card offer that you want, such as a card with low interest, cash back rewards, frequent flier miles or a low balance-transfer rate.

What kind of offers can I expect with a good credit score?

It will vary, which is why it's important to compare credit cards and what they offer. But some of the things you should expect include no annual fee; 0 percent interest for the first several months; and a lower variable interest rate after that. For instance, the interest rate on the Capital One No Hassle Cash Rewards - Excellent Credit card jumps to 12.9 percent, 16.9 percent or 20.9 percent after the 0 percent introductory rate, depending on your 3 bureau credit report. Those with the best credit rating get the lowest interest rate, while good credit scores would likely receive 16.9 percent or 20.9 percent.

What kinds of rewards will these cards offer?

There's a rewards credit card to fit every customer. If you drive a lot, you can look for rebates on gas purchases, or if you fly often, you may want a card that adds to your frequent flier miles account every time you shop. Compare these cards not only by the way you earn rewards, but also by how easy it is to redeem rewards. Some credit card companies offer bonus points for using the card or even just for paying your bills.

For instance, the Citi Forward credit card pays you five rewards points for every dollar you spend on restaurants and entertainment, and one point per dollar for all other purchases. You can earn 1,000 bonus points if you sign up for paperless statements and up to a 2 percent reduction in your purchase APR when you make a purchase, stay under your credit limit and pay your bill on time for three billing cycles.

So what can I do with these rewards?

If you have a good credit score, look for a credit card that will return your rewards in a convenient way, such as in the form of a gift card, credit or check. You should be able to redeem them any time, either by phone, on a website or at a predetermined interval in which you get your cash back automatically.

What other benefits should I look for?

Free extended warranties on the products you purchase; travel accident insurance when you purchase your tickets with your good-credit credit card; auto rental insurance; travel assistance services, such as assistance with passports and immunizations; and no liability for unauthorized transactions on your card.