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Best Credit Cards for People With Credit Scores 720 or Higher

If your credit score is 720 or higher, you will qualify for the best terms and lowest interest rates out there. Of course, some credit cards will have a lower interest rate but come with fees. Others might have higher interest rates but offer great rewards points and low (or no) fees.

Here are some to consider. Keep a few things in mind:

1.Comparing credit card offers can be tough. How can you tell whether a lower interest rate card is better than a card with a slightly higher interest rate but an amazing rewards program and no fees? Here’s our suggestion: If you plan on paying your balance in full each month, pay more attention to fees and rewards. A higher interest rate won’t matter if you pay your bill on time. On the other hand, if you plan on keeping a balance from month to month, opt for a credit card with a lower interest rate.

2. In our program, we recommend that you have three to five credit cards. If you are going to apply for more than one credit card to reach this goal, apply for them all at once. Part of your credit score is based on the age of your accounts. If you open one now, and then wait six months to open another, you will lower the average age of your accounts.

3. If you are married, do not apply for credit jointly with your spouse. You and your spouse should each apply for three cards.

4. If you have more than five cards, do not close them. This will hurt your score, and it will never help your score.