Credit score has become an essential part of living a successful life. A credit score is a 3-digit number from 300 to 850 that rates a consumer’s creditworthiness.
The higher the score, the better the borrower appears to potential lenders.
According to FICO credit scores range from 300 to 850, with scores between 800 and 850 considered “exceptional” by the lenders. Credit scores between 750 to 850 as its ‘excellent’ range.
There is no such rule regarding the credit score required for a credit card.
However, issuers will take a close look at your credit score before making a credit offer, and a low score may prevent you from getting a credit card.
It’s hard to know an issuer’s exact credit score when you apply for a credit card, but a score of 630 or higher gives you the best chance of approval.
If your score falls into the range of poor credit (300-579), You’ll often qualify for a secured credit card.
If your credit score is fair (580-669), you’ll start to qualify for better credit cards, including secured cards, those that don’t charge annual fees, or with rewards programs.
If your credit score is Good, (670-739), With good credit scores, you can qualify for most types of credit cards on the market, including high-earning rewards cards.
If your credit score is Very Good or excellent, (740-799), With this credit score you’re still likely to be approved for many of the credit cards including travel credit cards.