What is a Good Credit Score? Part 2 – Credit Karma FAQ


Last time we talked about how a 720
credit score is good enough to get you the best rates available on loans. And now we’re back, talking in more detail
about what exactly makes a credit score good. This is tricky because “good” depends on
what kind of credit you’re looking for. Roll whiteboard! Say we have two credit cards: the 600 silver and the 700 gold. If the silver is
the card you want then a 600 credit score is good enough to get the best
terms from that card but if you want the gold, surprise, then
you’ll need at least a 700. Now keep in mind that a credit card
company won’t be so transparent with their credit score guidelines. A perfect score of 850 is overkill and almost impossible to get. In our
example the guideline of 720 is more than you need. So instead of
thinking about whether or not your credit score is “good” the better question might be is my credit score good enough for the credit products I need. If you go to CreditKarma.com/creditcards you can see how high of a score you need on average to be approved
for different cards. This is based on historical Credit Karma
data but doesn’t guarantee approval. That way you can see if you have a
little ways to go or if your score’s already where it needs to be for what you want. I hope this was helpful. Wait for it…

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