For Biblical Studies, even for New Testament in particular, there are loads of ‘good’ journals with which to publish. How does one choose? Partly one must gauge the ‘interests’ of the journal and even take into account who is on the editorial board (to a certain degree). One must give some thought to format and styling and also the audience and the country from which the journal originates (which affects distribution, attention, etc..). As Mike Bird as recommended to me, keep in mind which ones are searchable on ATLA (always helpful!) and also which are mostly likely to have online files for paying institutions.
One factor, not often considered, involves the services offered by the journal and/or publishing host. For instance, I wish to make a plug for SAGE journals. I have had the privilege of working with JSNT and Currents in Biblical Research (both SAGE). They not only offer online downloads for fee-paying institutions, but other helpful services. For instance, they have the assessors and the editor do proofreading of the article, which is helpful. But they also have a professional proofing service go through your article as well (after it has been accepted, of course). This proofing service is meticulous – they don’t miss anything (unless it is Greek accents and very technical things)! They are like the IRS of proofreading! Anyway, what a wonderful service and it will make you a better scholar and save you some embarrassment. Thus, from the standpoint of editorial services, I highly recommend publishing with SAGE.