Credit Card Offers
If you are trying to improve your credit by establishing new
accounts, this guide may help you plan your approach.
How is your credit score?
Excellent (720 and up): You can have your choice of
credit card offers. Assuming that there are no dramatic changes
in your credit profile or application surprises, you should
expect to be eligible for the best offers. Rewards cards that
offer cash rebates, free gas or other items you would likely
benefit from are best.
Good (680-719): You can get very good terms on credit
cards as long as you control your debt ratios and maintain your
score. You can benefit from a number of rewards cards.
Fair (630-679): You can expect to be approved on a
number of less attractive offers. Rates may vary, and your
credit limits will be lower. Any rewards will likely not be
worth the price that you must pay for credit.
Poor (580-629): You will likely be denied most credit
offers. Some creditors may be willing to take a chance on you.
However, you will be limited by high rates, low credit limits
and the possible requirement of a security deposit.
Bad (under 580): You should avoid applying for any
credit card. Focus on improving
your credit score so that you can become eligible for
mainstream credit. |
