11/27/2023 0 Comments Credit card for fair credit![]() But an additional card member can still get a credit score benefit from the account if it remains in good standing and payments are on time. 5 People with credit scores in this range usually have two main options: become an authorized user/additional card member on someone else’s account or apply for a secured credit card.Īdditional card members are not legally responsible for the account – only the main account holder is. It signals people who are considered a high credit risk. If your score is between 300 – the lowest possible score – and 580, you fall in the “very poor” credit category. Regardless of the perks, the credit limit you’re offered on any of these cards will consider your income as well as your credit score. 3 Although technically a level down from “excellent” in the credit score ranges, it was hard to discern any difference between the best credit cards for very good and excellent scores – their perks are roughly the same. average and shows lenders that you’re a “very dependable” borrower, according to Fair Isaac Corp., the provider of FICO. 2Ĭredit scores from 740 to 799 would put you in the “very good” category, which is above the U.S. Experts say that a credit utilization ratio above 30% will start to hurt your credit but, according to one analysis, people with an 800+ score use an average of only 7% of their available credit. – and low credit utilization, which is the portion of your total credit limit that you use at any given time. ![]() Note: If your credit score is in the highest range, you probably have 10-plus years of on-time payments, a diverse mix of credit types – possibly including student loans, a mortgage, an auto loan, etc. Before applying, consider how well your lifestyle and spending habits match a particular card’s mix of dining, grocery, travel, and general spending benefits. Sign-up bonuses of up to $300 or 125,000 points after spending a minimum within the first few months.Īnnual fees for such high credit score credit cards range from $0 to $550.Cash back is usually awarded as a statement credit. Up to 6% cash back for purchases in one or more categories – like supermarkets or gasoline – and lower amounts in other categories.Low annual percentage rates (APRs), including 0% intro APR credit cards.4 to 6 points on supermarket purchases up to a certain threshold.Up to 5 points per dollar for spending on travel, including flights.2 to 4 reward points on every dollar spent at restaurants.1 What is the best credit card you can get with a credit score this high? At this level, credit cards typically offer some mix of the following: A perfect score of 850 is possible, but only 1.5% of Americans usually achieve it. Generally, the threshold for excellent credit in the most common credit scoring model – FICO – is 800 and up. In this category, lenders see you as a low risk, so you have a better chance of qualifying for that credit card triple play of a low interest rate, a high credit limit, and plenty of perks. A higher score – in the “very good” or “excellent” credit score ranges – can usually expand the variety of credit cards available to you.
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