best credit cards for 700 credit score

3 min read 15-12-2024

A 700 credit score puts you in a good position to qualify for a wide range of credit cards, offering various rewards and benefits. This article explores the best options, helping you choose the perfect card to fit your financial goals. We'll cover cards with cash back, travel rewards, and other perks, ensuring you find the ideal fit.

Understanding Your Credit Score and Card Eligibility

A credit score of 700 falls into the "good" range. This means you have a strong credit history, demonstrating responsible borrowing habits to lenders. With a 700 score, you're likely to qualify for many cards, but the best options will depend on your spending habits and financial priorities.

Factors influencing approval: While your credit score is crucial, lenders also consider your income, debt-to-income ratio, and credit history length.

Top Credit Cards for 700 Credit Scores: A Breakdown by Category

Cash Back Credit Cards

Cash back rewards are a popular choice for their simplicity and versatility. Here are some top contenders:

1. Chase Freedom Unlimited®: This card offers a flat 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1.5% on all other purchases. It's a versatile option for everyday spending.

2. Discover it® Cash Back: Discover offers 5% cash back on rotating quarterly categories, plus 1% on all other purchases. They also match all the cash back you've earned at the end of your first year. This makes it a great option for maximizing rewards on specific spending.

3. Citi® Double Cash Card: This card provides 2% cash back on all purchases – 1% when you buy and 1% as you pay. Its simplicity and consistent rewards make it attractive for those who want straightforward cash back.

(Remember to check current offers and APRs as they can change.)

Travel Rewards Credit Cards

For frequent travelers, travel rewards cards offer significant value.

1. Chase Sapphire Preferred® Card: This card offers a generous welcome bonus and earns Ultimate Rewards points that can be redeemed for travel through Chase's portal. It also provides travel and purchase protections.

2. Capital One Venture Rewards Credit Card: The Venture card earns miles that can be redeemed for travel expenses, providing flexibility in booking flights and hotels.

Balance Transfer Credit Cards

If you're looking to consolidate high-interest debt, a balance transfer card can be helpful. These cards usually offer a promotional 0% APR period, allowing you to pay down your debt without accruing interest during that time. However, be mindful of balance transfer fees and the eventual return to a higher APR. Research carefully before transferring balances.

Important Note: Always compare the APR (Annual Percentage Rate) and any associated fees across cards before applying. A lower APR means you'll pay less interest on your balance.

Choosing the Right Card for You

Consider these factors when selecting a credit card:

Annual Fee: Some cards charge an annual fee, while others are free. Weigh the benefits against the cost.
Interest Rate (APR): A lower APR is preferable, particularly if you carry a balance.
Rewards Program: Choose a rewards program that aligns with your spending habits.
Credit Limit: A higher credit limit can improve your credit utilization ratio, which is a factor in your credit score.

Frequently Asked Questions (FAQs)

Q: What if my credit score is slightly below 700? You may still qualify for some cards, but your options might be more limited. Consider building your credit score further before applying.

Q: How can I improve my credit score? Pay your bills on time, keep your credit utilization low, and avoid opening too many new accounts.

Q: Are there any pre-qualification tools? Yes, many credit card issuers offer pre-qualification tools on their websites that allow you to check your eligibility without impacting your credit score.

Conclusion

A 700 credit score opens doors to a variety of rewarding credit cards. By carefully considering your spending habits and financial goals, you can choose a card that maximizes benefits and helps you achieve your financial objectives. Remember to compare offers and read the fine print before applying. This will help you make an informed decision and unlock the rewards of responsible credit card usage.