Credit Cards for Good Credit

The tables turn when you reach good credit. Instead of you having to prove yourself to credit card companies, they must now compete for your business. For one thing, more issuers have credit cards for people with good credit than offers for folks with fair, limited or bad credit. And they’re all looking to woo trustworthy new customers who pose relatively little risk and thus have a lot of profit potential.

That’s why people with good credit can expect to earn roughly twice as much rewards value as someone with fair credit or enjoy 0% financing for about twice as long. Credit cards for people with good credit also tend to have much lower regular APRs (18.14% on average) than those for folks with fair credit (22%).

After all, you’ll have access to many of the market’s best overall credit cards, which usually require good or excellent credit for approval.

There is no hard-and-fast timetable for when someone will reach good credit. How long it takes depends on a number of different factors, such as your payment history and how long you’ve been using credit. With that being said, it’s possible to build a good credit score from scratch in as little as six months.

But a good score based on limited information won’t last unless you continue to make on-time payments, maintain low credit utilization, etc. And it generally takes at least three years of responsible borrowing to build a consistently good credit score. Potential creditors simply need proof that you can use credit responsibly and afford the spending power provided by a new card.

You can see whether you have a good credit score, plus track your progress moving forward, for free on WalletHub. You can also learn more about how long credit improvement takes from this WalletHub guide.

There are rewards credit cards available to people of all credit levels, even folks with bad credit. But if you want really good rewards, you’ll generally need a good or excellent credit score. That’s what the market’s best overall rewards cards require.

Plus, credit cards for people with less-than-good credit usually don’t have high enough spending limits for users to rack up significant rewards value. That’s why finding a credit card with no annual fee becomes increasingly important the lower your credit score is.

If you’re not sure where your credit stands, you can check your latest credit score for free on WalletHub. You’ll also receive a personalized credit analysis, complete with customized credit card recommendations.

Yes, credit cards for good credit are generally better than credit cards for people with fair, limited or bad credit. But there are exceptions, depending on how you plan to use your plastic.

For example, store credit cards typically require just fair credit for approval. But some offer the best rewards of any card for purchases made at the specific retailers they’re affiliated with. You obviously can’t use a store card for everything. So such a card can’t really compete with a solid everyday rewards card for good credit overall. But using both cards would be better than opting solely for a Visa, Mastercard, American Express or Discover card.

Interestingly enough, while credit cards for good credit tend to be more attractive than cards for people at lower credit levels, they usually aren’t at much of a disadvantage relative to offers reserved for people with excellent credit. The best credit cards often require at least good credit for approval. This is especially true with rewards cards, as it can be a bit harder to get the very best 0% offers.

For help finding the best credit card for your particular needs, sign up for a free WalletHub account. We’ll give you a personalized credit card recommendation based on your latest credit score and report.

There’s no way to tell exactly what credit limit you’ll get with any unsecured credit card, unless a minimum is listed in the offer’s terms and conditions. Spending limits vary from person to person. And credit card companies regularly tweak their standards. So even the limits reported by previously approved applicants can be off base and misleading.

Credit card companies consider a lot of information when making approval decisions and setting spending limits. But your income, assets and existing debt obligations are among the most important when it comes to credit limits. Basically, card issuers want to make sure that you can afford to repay whatever you spend.

With all of that being said, a spending limit of $5,000 to $10,000 is a pretty good ballpark estimate of what you can expect to receive from a credit card with good credit. For more information, check out WalletHub’s guide on how credit limits are determined.

If getting the best credit card is your only concern, there’s probably no reason to wait. Credit cards for good credit tend to be just as attractive as cards for excellent credit, with the possible exception of 0% offers. But if you plan to apply for a mortgage, auto loan, personal loan, etc., in the next six months or so, holding off could be the right move.

The terms on such a loan figure to either save or cost you a lot more than a credit card’s rates, fees and rewards. So you want your credit to be in the best possible shape come application time. And applying for a credit card now could jeopardize that, since each application results in a hard inquiry that can cause your credit score to dip for a few months.

With that being said, it may not take long for you to graduate from good to excellent credit, if you’re close to begin with. It could happen the next time you make an on-time bill payment or if you reduce your credit utilization. You just have to decide whether waiting is worth it in your particular situation. And monitoring your free daily credit score updates on WalletHub will help you make the right choice.