What Credit Score Do You Need to Get a Credit Card?

A frequently asked question in the credit realm seems to be “what credit score do you need to get a credit card?”

Unfortunately, the answer to this question isn’t one simple three-digit number, but rather a variable answer dependent on a number of factors.

Let’s put it this way; you could have a higher credit score than another consumer, but subsequently be denied for a credit card that the other consumer gets approved for.

How would that work?  Well, in one scenario, you could have a stronger credit score than others, but too many recent credit inquiries.

As a result, a certain card issuer may deny your credit card application, even though a consumer with a lower credit score gets approved.

That other consumer may have had a late payment at some point in their credit history, but no recent requests for new credit until said application.

That’s just one example, but the main take away is that credit card issuers may take a hard look at your credit score, instead of just saying all credit scores above X amount get approved, and all credit scores below X amount will be declined.

At the same time, it’s generally safe to say you’ll be approved for most credit cards if your credit score is above 700 (assuming you don’t apply for too much credit all at once), as it’s considered a good credit score.

You may need a credit score of 720 or greater to qualify for certain platinum cards or others that require so-called excellent credit (what is considered an excellent credit score?).

If you’re credit score is below 620, there’s a good chance you won’t be approved for most credit cards, though you may be able to get your hands on a credit card for bad credit.

If your credit score falls between 620 and 700, it’s a bit of a crapshoot whether you’ll be approved for a certain credit card.

Approval could be determined by the card issuer’s risk appetite, which of late has certainly become less favorable for consumers, and also what’s contributing to your lower than average credit score.

Related Topics:

1. What is a Good Credit Score?
2. What is an Excellent Credit Score?
3. What Is a Bad Credit Score?
4. What Exactly is a Good Credit Score?
5. Credit Score Needed for a Mortgage