What credit score do you need for a credit card? Approval rates by score, card type, and issuer.
| Credit Score | Approval Rate | Cards Available |
|---|---|---|
| 750+ | 95% | Premium rewards, travel, 0% APR cards |
| 700-749 | 82% | Most rewards cards, good limits |
| 650-699 | 58% | Basic rewards, some restrictions |
| 600-649 | 32% | Secured cards, store cards |
| 550-599 | 15% | Secured cards primarily |
| Below 550 | 5% | Secured cards, prepaid alternatives |
| Card Type | Avg Approval Rate | Notes |
|---|---|---|
| Secured Cards | 92% | Requires deposit, easiest approval |
| Student Cards | 78% | Must be enrolled in school |
| Store/Retail Cards | 65% | Easier than bank cards |
| Basic Cash Back | 55% | Entry-level rewards |
| Premium Rewards | 38% | Chase Sapphire, Amex Gold tier |
| Travel/Airline Cards | 35% | Airline and hotel branded |
| Ultra-Premium | 22% | Amex Platinum, CSR tier |
| Business Cards | 45% | Revenue requirements vary |
| Metric | Value | Notes |
|---|---|---|
| Applications per Year | 110 million | US credit card applications |
| Overall Approval Rate | 52% | Across all applications |
| Average Applications Before Approval | 1.8 | For subprime borrowers |
| Hard Inquiry Impact | 5-10 points | Per application, lasts 12 months |
| New Account Impact | Avg age decreases | Affects 15% of score |
| Applications in 24 Months (5/24 Rule) | 5 max | Chase restriction |
A 650+ score gives you access to most cards. Premium rewards cards typically require 720+. Secured cards are available to almost anyone regardless of score.
The overall credit card approval rate is about 52%. This ranges from 95% for excellent credit to 5% for very poor credit.
Each application creates a hard inquiry that can lower your score 5-10 points for 12 months. Multiple applications in a short period have a larger impact.