If your FICO score is above 670, you are in the good credit category. And if it's between 740 and 799, it falls into an excellent position. Experian states that any score of 800 or more is considered exceptional. With these scores, you can qualify for almost any credit card in the market.
According to the company's website, a good FICO score is between 670 and 739. FICO states that scores between 580 and 669 are considered fair, and those between 740 and 799 are considered very good. Anything over 800 is considered exceptional. WalletHub publishers focus on finding the best cards, without promoting cards with which they get paid.
WalletHub makes it easy to find the best credit cards for good credit. Both FICO, the best-known credit rating system, and its competitor VantageScore use the 300-850 range. If you can't get a score, you may need to open a new account or add a new activity to your credit report to start building credit. But after 12 one-off monthly payments, that increases to a 1.5% cash back, which competes with cashback credit cards for good credit.
You'll also get an overview of your scoring profile with a quick look at what helps and hurts your score. People with good credit can expect to earn about twice the value of rewards as someone with fair credit or enjoy 0% financing for about twice as long. Lenders, such as credit card issuers and mortgage providers, can set their standards for good credit by deciding if they give you credit and at what interest rate. Keeping track of your score can help you improve your chances of qualifying for a loan, credit card, apartment, or insurance policy while improving your financial health.
The best way to generate credit is to open a credit card, preferably one with no annual fee, and use it responsibly. The Capital One Platinum credit card doesn't offer rewards but can help you generate credit for free. In addition, VantageScore can score your credit report if you have at least one active account, even if the account is only a month old. However, if you're delaying applying for a credit card because you're afraid your three-digit score might be too low, don't worry.
Many credit cards require at least fair credit, but if you're looking for easy approval, you'll want to exceed the card's requirements instead of simply meeting them. In addition, credit scores can affect decisions not related to the loan, such as whether the landlord will agree to rent you an apartment. Capital One is one of the best, offering credit cards that require approval for fair, limited, or even bad credit. Unfortunately, a good-to-good score won't give you the best card on the market, although you still have some solid options.
If you pay your bills on time and stay well below your credit limit, you'll move to the right credit range in no time.