As you can imagine, your credit history and score can have a huge impact on the type of card you can acquire. If you have no credit or bad credit, you may need to opt for a secured credit card just to rebuild your score. A secured card allows you to deposit funds into your credit card account (much like a debit card), and then you can use it to make everyday purchases. This is one of the easiest ways for people with bad credit to build up their credit and, with time, qualify for a traditional credit card.
However, this still doesn’t answer the question at hand. What credit score do you need to get a credit card? Moreover, what scores will qualify you for one of the best credit cards on the market? Fortunately, there are some great credit cards that you can get with low or no credit. We will examine some of these cards that can help you build or rebuild your credit a little later on.
That said, if you want to apply for a standard credit card, you will typically need a score of at least 580. This is on the very low end of the scale, meaning that this score may not get you one of the best credit cards. Even if you do get approved for a great card, you will likely have a high APR.
For this reason, it is generally recommended that you have a score of at least 620 when applying for credit cards. This is considered a “fair” score, and it is the minimum score you would need to qualify for many different types of credit, including mortgages and auto loans. With a score of 620 or higher, you can qualify for the vast majority of consumer credit cards out there.
Finally, it is important to look at the kind of credit score you will need to get approved for a great card with a low APR and ideal terms and conditions. Anything above 740 is considered “very good,” while anything above 800 is considered “excellent.” In most cases, a score above 700 will get you much better terms when you are ready to apply for a new credit card. So, if you know you want to get a card with a low APR, consider working on your score until you can get it somewhere above 700.