Credit Types

Learn the different credit types needed to apply for a credit card, this should be used as a guideline only, each bank has different criteria for determining eligibility.

Excellent credit

Excellent credit typically ranges from 720+, but this doesn’t necessarily mean you won’t get approved if you have a credit score of 685. I heard of people with 704 getting declined for excellent credit card, and have also heard of people with 680 credit score skinny approved for the same level required. So it depends on each person, each person’s car report, and the bank that the science these factors.

Good Credit

Good credit ranges from about 680 to 719 points, again these numbers aren’t set in stone, and each bank has its own criteria for determining if you fall within the category of average or fair credit

Average or fair credit

If you have a credit score in the mid 600 range, you can consider yourself an average credit individual. Typically anything between 630-679 will get you in this rating. You will see higher interest rates in your disclosures when you apply for loans or credit, and getting the highest rewards won’t be possible once you hit average status.

Poor credit

Most the time when you think of poor credit, you think of a number that starts with a five. Anything below 600 is definitely in the poor credit range, as well as some of the lower 600 numbers, again each bank is different and their determination is usually the final decision