Credit Scores That Will Allow You to Obtain Credit Cards

Credit scores play a major role in your ability to get a credit card, and to obtain low interest rates on them. The score you need to get a credit card varies widely, as lenders have different criteria for credit card approval. In general, the higher you can get your credit score, the easier it will be to get a credit card.

Excellent Credit

One of the most commonly used credit scores, the FICO score, ranges from between 300 and 850. The median credit score in the United States is about 725, according to the 2004 "Frontline" report "The Secret History of the Credit Card," and creditors consider borrowers with a credit score of 770 or above as the safest and least likeliest to default on a loan. If your score is 770 or higher, you are practically guaranteed a credit card, and one with very competitive rates.

Good Credit

The Federal Citizen's Information Center, or FCIC, reports that a credit score if 700 or above is generally considered good credit. Borrowers with a 700 credit score face few challenges receiving a credit card. Credit card companies may freely offer credit cards to consumers with scores as low as 620, though the cut-off between good and bad credit is often somewhere in the mid or low 600's, depending on the lender.

Sub-Prime

Borrowers with credit scores below the mid-600's are generally considered high-risk or "subprime" borrowers. These borrowers face the hardest prospects for receiving credit. Many borrowers with low credit scores may only be able to get a secured credit card, one that requires the borrower to provide a security deposit or other form of collateral. Unsecured credit cards do not require a security deposit, but they do require better credit scores.

Credit Approval

While a good credit score will make it much easier to get a credit card than a bad score, your credit score isn't the only factor creditors consider when determining if your credit application gets approved. Creditors typically ask about your income when you apply for a credit card. Even if you have a nearly perfect credit score, having no income makes it nearly impossible to get a credit card.