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Hi Shaundra
- Yes and YES. A better card with a higher limit can improve your
credit even further, and the benefits offered by banks to people
with good credit are usually much better than what one can get with
poor or fair credit.
For starters, you should have access to lower APRs with your approved
credit score. I don't want you carrying a balance from month to
month, but it's always nice to have lower interest rates in case
you do get caught with some outstanding charges on your card. A
lot of cards will offer 0% APR on balance transfers as well, in
case you have some debt that's lingering.
Most fun will be access to useful perks. If you look good on paper,
you can be trusted with the fanciest cards that bring in the fanciest
rewards. Earn tons of miles and use swanky private lounges when
you go to the airport; get a handful of cashback when you go to
restaurants or pay for gas; apply for a card that links with your
favorite airline or hotel to ensure your spending turns into rewards
you can use.
Many of the best credit cards don't really work unless you do a
modest amount of spending, so you can't expect to get much of a
bonus if you don't swipe regularly. That's why it's worth researching
the cards that offer bonus points for certain types of spending.
Some are better for business owners and frequent flyers, others
work well for parents who have big families and spend lots of money
on groceries each month. Some cards let you pick the benefits you'll
get the most out of, which is an appealing perk. There's a post
at GoFarWithKovar.com
that details 10 of the best cards for people with good credit, so
that's worth checking out if you're in the early stages of your
search.
Whatever you choose, don't get too excited by the rewards. It's
nice to get a kickback for your everyday purchases, just don't lose
sight of the fact that you have to spend money in order to get these
bonuses. If you work too hard to earn airline miles, you'll quickly
be back in debt and watching your credit score take a turn for the
worse.
As long as you already use a credit card, it ought to be a good
one. Start doing some research and find something that brings in
useful rewards and reflects the excellent credit score you've earned,
Shaundra!
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