Home > Credit Cards > What Credit Card Perks Can People With Good Credit Earn?

Comments 0 Comments

For consumers with good credit, now might be the best time ever to seek out new credit card accounts. After a period of relative stinginess with credit during the economic downturn, lenders are aggressively marketing all sorts of accounts to consumers. But this time around they’re going after those borrowers top-notch credit ratings, often extending offers for cards with a wide range of benefits, known as “rewards cards.” However, if you have good credit and you’re wondering just what may be available to you, the variety can get a little confusing.

The first thing you should know about the offers available to you is that if you have a higher credit score, you’re considered far less risky of an investment. As such, lenders don’t feel the need to give you high interest rates, and you’ll likely end up paying far less for these accounts than consumers with lower credit scores. The higher your rating, the lower your available interest rates will be, and that can save you a lot of money, especially if you carry a balance from month to month. In addition, many of these accounts might come with annual fees that would add to your balance if you had a lower credit rating, but these are frequently waived, at least for the first year the account is open, for those whose scores are higher.

[Credit Cards: Research and compare rewards credit cards at Credit.com.]

And if you have a good credit rating, you’ve probably also found that you’re getting a lot of offers for rewards credit cards. These are available to many borrowers, of course, but the offers for the very best rewards accounts will likely be available to you. These accounts will, again, carry lower interest rates, but will also be more generous in extending you greater benefits, such as a higher base points earned per dollar ratio, as well as added bonuses for spending in certain types of categories. Some offers might also grant you hundreds of dollars worth of miles, points or cash back just for signing up, and then even more if you meet certain spending thresholds within the first few months the account is open.

But the way you got your good credit rating in the first place was from knowing the the value of being prudent with your finances. Don’t lose that habit. Closely examine any credit card offer you receive, weighing its various benefits and potential drawbacks, and think about how opening such an account will affect all aspects of your finances – not just your credit score.

Image: ilovememphis, via Flickr

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Certain credit cards and other financial products mentioned in this and other sponsored content on Credit.com are Partners with Credit.com. Credit.com receives compensation if our users apply for and ultimately sign up for any financial products or cards offered.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team