What is excellent?

[distantarray]

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.

[RN67]

Thank you!

[bmd0224]

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@Imua wrote:

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@RN67 wrote:

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

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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

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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!

[RN67]

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

[bluesnowman]

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. 

[RN67]

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.

[kevinjjc]

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@RN67 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.

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Best wishes for your credit journey in 2013! 

[webhopper]

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!

[RN67]

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.

[jamesdwi]

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