WalletHub, Financial Company A 700+ credit score is needed to get most Discover credit cards, but there’s no minimum credit score needed for a few Discover cards. You can get the Discover it® Secured Credit Card with a bad credit score (below 640).
Can I get a Discover card with a 670 credit score?
You’ll likely qualify for any Discover card if you have good or excellent credit. To clarify, a good credit score is a FICO® Score of 670 or above In this case, it makes sense to go for one of the most valuable Discover credit cards.
Is Discover hard to get approved?
If you want to get a Discover credit card and you have a good or excellent credit score, you might think the application is a slam dunk. Even the best Discover credit cards are aimed at consumers with scores of 670 or above. A score of 700 or more is well beyond what you need.
What credit score system does Discover use?
Discover provides your FICO ® Score 8. Lenders use several different kinds of FICO ® Scores, depending on the type of loan they provide. Discover provides your score from data on your TransUnion ® credit report. Scores may vary when using data from your Experian or Equifax credit report.
Is a 650 credit score good?
A FICO score of 650 is considered fair—better than poor, but less than good It falls below the national average FICO ® Score of 710, and solidly within the fair score range of 580 to 669.
Is 629 a good credit score?
Your score falls within the range of scores, from 580 to 669, considered Fair. A 629 FICO ® Score is below the average credit score Some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.
Why wont Discover approve me?
The reasons will be listed in the denial letter Discover sends out shortly after its decision. They may include an annual income below what’s needed to make minimum monthly payments, a low credit score, too many recent credit inquiries or a high amount of debt , among others.
What credit score you need for American Express?
According to the score ranges from FICO, that means American Express applicants typically have at least a 670 score : Exceptional. 800 and above.
Is Discover a good first credit card?
The Discover it® Cash Back Credit Card may be a great choice for a first credit card because it offers benefits like 5% cash back on purchases in categories that rotate every quarter up to the quarterly maximum when you activate, 1% automatic cash back on other purchases, and an automatic dollar-for-dollar match on all.
What is a good FICO score?
Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
What is the average credit limit on a Discover it card?
In general, the average Discover it® cardholder received an initial limit of around $3,000 , with higher limits going to those with exceptional credit and/or particularly high incomes.
Is Discover FICO score accurate?
I did indeed say that I’ve found — based on what I’ve been told by experts and Discover customers — that FICO scores provided by Discover are accurate.
What is a FICO score 8?
FICO Score 8 is a credit scoring model from the Fair Isaac Corporation (FICO) that is widely used by lenders to help determine the creditworthiness of potential borrowers and what interest rate they should be charged This version of the company’s base credit-scoring model was released in 2009.
Is a 710 credit score Good?
So, what is considered a good credit score? The average credit score in the United States ranges between 670 and 710 According to Experian, a “good” credit score is anything that falls between 661 and 780, which is about 38% of the population.
Is a 750 FICO score Good?
Your FICO ® Score falls within a range, from 740 to 799, that may be considered Very Good. A 750 FICO ® Score is above the average credit score Borrowers with scores in the Very Good range typically qualify for lenders’ better interest rates and product offers.
Is 700 a Good credit score to buy a house?
A conventional mortgage is often best for those with a credit score of 700 or higher (Generally, the credit score requirement is 620 and above.) Benefits of a conventional loan include: Buy a house with as little as a 3% down payment.
Is a 700 credit score Good?
FICO credit scores, the industry standard for sizing up credit risk, range from 300 to a perfect 850—with 670 to 739 labeled “good,” 740-799 “very good” and 800 to 850 “exceptional.” A 700 score places you right in the middle of the good range, but still slightly below the average credit score of 711.
Can I buy a house with a credit score of 627?
If your credit score is a 627 or higher, and you meet other requirements, you should not have any problem getting a mortgage Credit scores in the 620-680 range are generally considered fair credit. There are many mortgage lenders that offer loan programs to borrowers with credit scores in the 500s.
Is 670 a Good FICO score?
A FICO ® Score of 670 falls within a span of scores, from 670 to 739, that are categorized as Good The average U.S. FICO ® Score, 711, falls within the Good range.
Sources
https://wallethub.com/answers/cc/credit-score-needed-for-discover-card-2140658738/
https://www.discover.com/credit-cards/help-center/faqs/free-fico.html
