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Top 10 Credit Cards for Excellent Credit for August 2020

Top 10 Credit Cards for Excellent Credit for August 2020

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Jul 31, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

An excellent credit score can help you qualify for the best credit cards on the market. Whether you’re looking for a rewards card, cashback card, or a balance transfer card, the better your credit score, the higher the odds you’ll be approved.

However, with great rewards also come some additional costs, typically in the form of higher annual fees. Don’t let a killer cashback rate or signup bonus lure you into signing up for a card that may not give enough return on your investment to be worthwhile in the long term.

The key is finding the card with the best value and fit for your lifestyle, which has never been easier as banks compete to win loyalty from desirable customers.

Here are the top 10 credit card deals you can take advantage of right now:

Chase Sapphire Preferred® Card

  • 60,000 bonus points

  • 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide

  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel

Highlights
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.

See additional details for Chase Sapphire Preferred® Card

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Rewards: Earn 2x points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide.

And between July 1, 2020 and Sept. 30, 2020 earn the following:

  • 3X on Instacart deliveries and pickups (on up to $3,000 in purchases). And earn up to $50 in statement credits toward an Instacart Express membership.
  • 3X points on gas station purchases (on up to $1,500 spent).
  • 5X points on select streaming services (on up to $1,500 spent).

New cardmember offer: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®.

The Chase Sapphire Preferred® Card is a great travel rewards card that provides a suite of travel-centric benefits. The most noteworthy benefit is the ability to get 25% more value for points when you redeem for travel through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel. While this card has a $95 annual fee, you can recoup it if you spend $4,750 a year on dining and travel.

Capital One® Venture® Rewards Credit Card

  • Earn a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel

  • 2 Miles per dollar on every purchase, every day

  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®

Highlights
  • Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
  • Earn unlimited 2X miles on every purchase, every day
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 10+ travel loyalty programs
  • No foreign transaction fees

See additional details for Capital One® Venture® Rewards Credit Card

More Info

Rewards: Earn 2 miles per dollar on every purchase, every day.

New cardmember offer: Earn a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel. 

The Capital One® Venture® Rewards Credit Card has a hassle-free rewards program that allows you to redeem rewards as a statement credit for past travel expenses with no blackout dates or restrictions. And through Sept. 30, 2020, Capital One is letting cardholders redeem miles for restaurant delivery/takeout, streaming services and wireless telephone purchases. Use the “Cover Your Purchases” feature for these redemption options.

There is an annual fee of $95 for this card, but spend $4,750 each year to break even.

Blue Cash Everyday® Card from American Express

This offer and/or promotion may have since changed, expired, or is no longer available.

Blue Cash Everyday® Card from American Express

Apply Now

on American Express's secure site

Terms and Conditions apply

Rates & Fees

  • $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

  • 3% at U.S. supermarkets on up to $6,000 per year in purchases*

  • 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.

Highlights
  • Earn a $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 3% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
  • 2% Cash Back at U.S. gas stations and at select U.S. department stores.
  • 1% back on other purchases.
  • Low intro APR: 0% for 15 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%.
  • Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee and no interest.
  • Cash back is received in the form of Reward Dollars that can be redeemed for statement credits.
  • No annual fee.
  • Terms Apply.
  • See Rates & Fees

See additional details for Blue Cash Everyday® Card from American Express

More Info

Rewards: Earn 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.

New cardmember offer: $150 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.

Grocery shoppers will benefit from the higher cash back rate on eligible purchases with the Blue Cash Everyday® Card from American Express. This card also offers a competitive intro APR of 0% on purchases for 15 months on purchases and N/A on balance transfers that can help finance new purchases or get out of debt. After the intro period ends, there’s an APR of 13.99%-23.99% variable on purchases and N/A on balance transfers.

To see rates & fees for American Express® Gold Card please click here.

American Express® Gold Card

American Express® Gold Card

Apply Now

on American Express's secure site

Terms and Conditions apply

Rates & Fees

  • 35,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 3 months.*

  • Earn 4X Membership Rewards® Points on Restaurants worldwide, including takeout and delivery, and 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.

  • Up to $100 per year for incidentals*

Highlights
  • Earn 35,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 3 months.
  • Earn 4X Membership Rewards® Points on Restaurants worldwide, including takeout and delivery.
  • Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
  • Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
  • $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth's Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
  • $100 Airline Fee Credit: up to $100 in statement credits per calendar year for incidental fees at one selected qualifying airline.
  • No Foreign Transaction Fees.
  • Annual Fee is $250.
  • Terms Apply.
  • See Rates & Fees

See additional details for American Express® Gold Card

More Info

Rewards: Earn Earn 4X Membership Rewards® Points on Restaurants worldwide, including takeout and delivery. Additionally, earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X), and 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.

New cardmember offer: 35,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 3 months.

Foodies and grocery shoppers can benefit from the rewards and added perks of the American Express® Gold Card. Cardholders receive a monthly dining credit of up to $10 that can offset the cost of eating at The Cheesecake Factory, Ruth’s Chris Steak House and participating Shake Shack locations or ordering food from Grubhub, Boxed, and Seamless. A one-time activation is required to use this benefit. While there’s a $250 annual fee, taking advantage of the annual dining credit (up to $120) and annual airline fee credit (up to $100) offsets the fee to $30.

To see rates & fees for American Express® Gold Card please click here.

Citi Simplicity® Card - No Late Fees Ever

Rewards: Non-rewards card.

New cardmember offer: Intro 0% for 18 months on balance transfers. After, a 14.74% - 24.74% (variable) APR applies.

The Citi Simplicity® Card - No Late Fees Ever offers a lengthy intro APR period on transferred balances. If you’re carrying a balance on another high interest card, transferring it to this card can help you save on interest charges. There’s a balance transfer fee – either $5 or 3% of the amount of each transfer, whichever is greater.

This card has no late fees, no penalty rate, and a $0 annual fee.

Citi® Double Cash Card – 18 month BT offer

Rewards: Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

New cardmember offer: No bonus.

The Citi® Double Cash Card – 18 month BT offer set the standard for flat-rate cashback cards with its generous and simple rewards program. Cardholders don’t need to keep track of bonus categories or caps to earn an effective 2% cash back on all purchases. Additionally, this card has a long intro period of 0% for 18 months on balance transfers that can help you pay off debt interest-free. After the intro period ends, the APR is 13.99% – 23.99% (variable).

If you’re looking to transfer a balance and earn rewards on new purchases, all at a $0 annual fee, then the Citi® Double Cash Card – 18 month BT offer is a great option.

Read our review of the Citi® Double Cash Card – 18 month BT offer.

Bank of America® Travel Rewards credit card

Rewards: 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire.

New cardmember offer: 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.

The Bank of America® Travel Rewards credit card is a decent $0 annual fee travel rewards card with simple rewards redemption. Points can be redeemed as a statement credit for travel purchases with no blackout dates or restrictions. If you’re a Preferred Rewards  member, you can earn 25% – 75% more points on every purchase.

Bank of America® Cash Rewards credit card

Rewards: Earn 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, 1% cash back on every purchase.

New cardmember offer: $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

The Bank of America® Cash Rewards credit card has a flexible cashback program that allows cardholders to select one of six categories to earn 3% cashback in each month: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. You can change the bonus category each month or keep the same choice. Compared to other rotating cashback cards, the ability to choose your category is a nice perk.

Similar to the Bank of America® Travel Rewards credit card, this card has a $0 annual fee and offers Preferred Rewards members 25%-75% more cash back on every purchase.

Discover it® Cash Back

  • 0% for 14 months on purchases and Balance Transfers, then 11.99% - 22.99% Variable.

  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically. *

  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically*

Highlights
  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • No annual fee.
  • See Rates & Fees

See additional details for Discover it® Cash Back

More Info

Rewards: Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.

New cardmember offer: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.

If you want to maximize your cash back, the Discover it® Cash Back provides quarterly 5% cashback categories that can allow you to earn high rewards — all with a $0 annual fee.

For 2020, the categories include grocery stores, Walgreens and CVS (January-March), gas stations, Uber, Lyft, and wholesale clubs (April-June), restaurants and PayPal (July-September), and Amazon.com, Target.com, and Walmart.com (October-December).

Just know, each quarter the 5% cash back is limited to $1,500 in spending, and you have to sign up. Once you hit that amount, you’ll earn 1% cash back. The new cardmember offer is also unique with no minimum spending required to get a match of all the cash back you earned during your first year of account opening.

Read our review of the Discover it® Cash Back.

Discover it® Miles

  • Discover will match all the Miles you've earned at the end of your first year.*

  • 1.5 Miles per $1 Spent*

  • 0% for 14 months, then 11.99% - 22.99% Variable

Highlights
  • UNLIMITED BONUS: Only Discover will automatically match all the Miles you’ve earned at the end your first year. For example, if you earn 35,000 Miles, you get 70,000 Miles.  There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.
  • Earn unlimited 1.5x Miles for every dollar spent on all purchases - with no annual fee.
  • Redeem for Travel or Cash. Easily redeem Miles as a statement credit for travel purchases or get cash.
  • No Blackout Dates. Simply pay for travel purchases like airlines, hotels, rental cars, and more with your Discover it® Miles card.
  • Freeze your account in seconds with an on/off switch either on the mobile app or website to prevent new purchases, cash advances, and balance transfers.
  • Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • See Rates & Fees

See additional details for Discover it® Miles

More Info

Rewards: unlimited 1.5 miles for every dollar spent on all purchases - with no annual fee.

New cardmember offer: Discover will match ALL the Miles you’ve earned at the end of your first year, automatically. For example, if you earn 35,000 Miles, you get 70,000 Miles. That’s $700 towards travel!

The Discover it® Miles is a decent flat-rate rewards card that allows you to redeem miles as a statement credit for past travel purchases starting at a penny. This is a great perk since many cards set $25 minimum redemption amounts. Plus, there are no blackout dates, so you can fly any airline, anytime. With a $0 annual fee and generous new cardmember offer, you can benefit from this straightforward travel rewards card.

Read our review of the Discover it® Miles.

The information related to the Citi Simplicity® Card - No Late Fees Ever has been independently collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication.


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