My Credit Score Is 657: Which Credit Card Can I Apply?
Having a credit score of 657 may not be considered excellent, but it is still a decent score that can qualify you for various credit card options. While it may limit your choices compared to someone with a higher credit score, there are still several credit cards available to you. In this article, we will discuss the credit cards you can apply for with a credit score of 657 and answer some commonly asked questions regarding credit cards and credit scores.
Credit Cards for a Credit Score of 657:
1. Capital One QuicksilverOne Cash Rewards Credit Card: This card is designed for individuals with average credit. It offers unlimited 1.5% cash back on every purchase and has no annual fee.
2. Discover it Secured Credit Card: If you are looking to build or rebuild your credit, this card is a great option. It requires a security deposit, but it offers cash back rewards and reports your activity to all three major credit bureaus.
3. Credit One Bank Platinum Visa: This card is specifically designed for individuals with fair or average credit. It offers 1% cash back on eligible purchases, has no annual fee for the first year, and provides free online access to your credit score.
4. Capital One Platinum Credit Card: With no annual fee, this card is a good option for those with average credit. It offers access to a higher credit line after making the first five monthly payments on time.
5. Wells Fargo Cash Wise Visa Card: This card offers cash back rewards with no annual fee. It is suitable for individuals with average credit and provides a $150 cash rewards bonus after spending a certain amount within the first three months.
6. Citi Secured Mastercard: Similar to the Discover it Secured Credit Card, this card is an excellent choice for building or rebuilding credit. It requires a security deposit, but it has no annual fee and reports to the major credit bureaus.
7. Indigo Platinum Mastercard: This card is specifically designed for individuals with fair or poor credit. It has no security deposit requirement and offers the potential to build credit with responsible use.
FAQs about Credit Scores and Credit Cards:
1. Will applying for multiple credit cards with a credit score of 657 hurt my score?
– Applying for multiple credit cards within a short period can temporarily lower your credit score. It is advisable to space out your applications and only apply for cards you genuinely need.
2. Can I get a credit card with a 657 credit score and no credit history?
– It may be challenging to get approved for a credit card with no credit history, but there are options available for individuals with limited credit. Secured credit cards or cards designed for individuals with fair credit are good starting points.
3. How can I improve my credit score to qualify for better credit cards?
– Paying bills on time, keeping credit utilization low, and maintaining a good credit mix can help improve your credit score over time. Regularly monitoring your credit report for errors and disputing inaccuracies can also be beneficial.
4. Will my credit score improve if I use a credit card responsibly?
– Yes, using a credit card responsibly, such as making payments on time and keeping balances low, can positively impact your credit score over time.
5. How long does it take to increase my credit score?
– There is no fixed timeline for increasing your credit score. It depends on various factors such as your credit history, payment behavior, and credit utilization. In general, consistent positive credit habits can lead to an improved score over several months or years.
6. Can I qualify for rewards credit cards with a 657 credit score?
– While it may be more challenging to qualify for premium rewards credit cards, there are still options available for individuals with a credit score of 657. Look for cards specifically designed for average credit or those with no annual fee.
7. Should I close old credit card accounts to improve my credit score?
– Closing old credit card accounts can potentially harm your credit score. It is generally better to keep old accounts open, especially if they have a positive payment history, as they contribute to the length of your credit history and overall credit utilization ratio.
In conclusion, having a credit score of 657 opens up several credit card options for you. It is essential to choose a card that suits your needs and financial habits. By using credit responsibly and consistently working towards improving your credit score, you can qualify for better credit cards in the future. Remember to always read the terms and conditions of any credit card before applying to ensure it aligns with your financial goals and needs.