topic Re: What is excellent? in Credit Cards

What is excellent?

Anonymous — Thu, 06 Dec 2012 15:19:14 GMT

I was looking at the myfico recommended credit cards. When it says credit must be excellent, what scores are considered excellent???

Re: What is excellent?

Repo-ed — Thu, 06 Dec 2012 15:22:52 GMT

The offers I recieved on this site were all rebuilders. Joke, at best...

Re: What is excellent?

Anonymous — Thu, 06 Dec 2012 15:25:44 GMT

Ahh. OK. I have a capital one 500 cl 0 bal. and an Orchard 500 cl $42 bal. Had them since 2006. Thought about another one but not sure which one.

Re: What is excellent?

Shogun — Thu, 06 Dec 2012 15:27:44 GMT

You should try a GE backed card. Do you shop at Walmart? They also five a TU FICO monthly if you sign up for paperless billing.

Re: What is excellent?

nicholasyud — Thu, 06 Dec 2012 15:32:38 GMT

Get some Prime card......you should be fine qualify for it but there no warranty thou......

Re: What is excellent?

Anonymous — Thu, 06 Dec 2012 15:40:51 GMT

I'm scared to apply. I only have one inquiry on all 3 reports and its from 3-2011 when I bought my car. I don't want any inquiries. I'm obsessed with these stupid reports. I've spent so much money just buying reports because I'm so impatient. LOL I have a couple of things that are waiting to be updated on EQ and TU. I think it will push both scores to 700 or close. I travel 50 miles one way to work everyday so I spend ALOT on gas. I was thinking maybe a card with gas rewards.

Re: What is excellent?

Anonymous — Thu, 06 Dec 2012 15:46:26 GMT

And what exactly is a PRIME card?

Re: What is excellent?

SwiftTone — Thu, 06 Dec 2012 15:50:51 GMT

@Anonymous wrote:
And what exactly is a PRIME card?

Good rewards and benefits from a good bank.

Re: What is excellent?

Imua — Thu, 06 Dec 2012 17:04:04 GMT

@Anonymous wrote:
I was looking at the myfico recommended credit cards. When it says credit must be excellent, what scores are considered excellent???

iirc, scores are rated as excellent if they're over 760 (if you look at your myFICO score, there's usually a section that 'grades' your score as poor, good, excellent, etc)

edited to correct myFICO score instead of credt report

Re: What is excellent?

Anonymous — Thu, 06 Dec 2012 16:06:05 GMT

Thanks for the info everyone. I think I'm going to wait a month and let some stuff update then apply. New Year and hopefully new card.

Re: What is excellent?

distantarray — Thu, 06 Dec 2012 16:58:12 GMT

i looked through the cards myfico recommends at Excellent you shouldn't have a problem if your over 700 some cards are iffy at 680's but can be done.

Re: What is excellent?

Anonymous — Thu, 06 Dec 2012 17:16:10 GMT

Thank you!

Re: What is excellent?

bmd0224 — Thu, 06 Dec 2012 19:48:12 GMT

@Imua wrote:
@Anonymous wrote:
I was looking at the myfico recommended credit cards. When it says credit must be excellent, what scores are considered excellent???
iirc, scores are rated as excellent if they're over 760 (if you look at your myFICO score, there's usually a section that 'grades' your score as poor, good, excellent, etc)

edited to correct myFICO score instead of credt report

When the credit card offer says "excellent credit" needed i have found that excellent can be as low as 700. I've gotten approved for several "excellent" credit needed cards and none of my scores listed below are 760. I think YMMV but 700's are good enough. Strange how this whole credit score thing works......i wish they would do away with impacts from INQ's. My thoughts are if you are responsible enough to handle credit then who cares how many cards you have or apply for. My 2 cents!

Re: What is excellent?

Anonymous — Thu, 06 Dec 2012 19:54:05 GMT

Thanks for the info. I totally agree on the inquiries.

Re: What is excellent?

bluesnowman — Thu, 06 Dec 2012 20:02:48 GMT

When I applied, my scores were 720+, and I got approved for every card except Chase, because Chase wanted a little bit more history before I apply for one of their products. Now after all the inquires and my accounts reporting, I'm sure my scores have dropped, but I am positive in a few months it will hopefully get back to the 720 + range. As you can see in my sig, all the cards really need an Excellent credit history, but I have seen people with 650+ getting approved. It just depends what's your history is like.

Re: What is excellent?

Anonymous — Thu, 06 Dec 2012 20:31:45 GMT

Hmmm. I'm really itching to apply but I'm going to try to wait until after the first of the year. I'm really hoping EQ and TU hit 700 by end of month.

Re: What is excellent?

kevinjjc — Sat, 08 Dec 2012 17:44:48 GMT

@Anonymous wrote:
Thanks for the info everyone. I think I'm going to wait a month and let some stuff update then apply. New Year and hopefully new card.

Best wishes for your credit journey in 2013!

Re: What is excellent?

webhopper — Sat, 08 Dec 2012 20:21:09 GMT

I don't think the card selector tool on this site is based in reality. They said I needed to get capital 1 no matter what options I chose. I also recommend applying for wal mart card. It will grow with you!

Re: What is excellent?

Anonymous — Sun, 09 Dec 2012 02:01:40 GMT

Thanks everyone. I've been looking at the Walmart card. I definitely think I'm going to apply for it and one at my credit union after the first of year.

Re: What is excellent?

jamesdwi — Sun, 09 Dec 2012 02:51:27 GMT

any thing in the 740+ range with no lingering real badies, BK or unpaid tax liens is excellent. But all except for the signature cards, CSP and US BANK Cash+ and you should be good to go, 680-690+ is enought for prime also need 1 year of experience with 1 or more credit cards perferably VISA/MC/DISC/AMEX