What Credit Card Can I Get With a 700 Credit Score?

A 700 credit score generally indicates a “good” level of creditworthiness, typically falling within the 670-739 range for FICO Scores and 661-780 for VantageScores. This score suggests a responsible financial history, making you an appealing candidate to lenders. This level of credit can lead to more favorable annual percentage rates (APRs) on financial products, including credit cards and loans, and provides access to a wider selection of credit cards, some with premium rewards.

Credit Card Categories for a 700 Score

Individuals with a 700 credit score can access a broad spectrum of credit card products, offering diverse benefits. Understanding these categories helps identify a card that aligns with individual spending patterns and preferences. Options typically include cash back, travel rewards, balance transfer, and low-interest rate credit cards.

Cash Back Credit Cards

Cash back credit cards allow you to earn a percentage of your spending back as cash rewards. They often feature a flat rate on all purchases (e.g., 1.5% or 2%) or offer higher percentages in specific categories like groceries, gas, or dining. Accumulated cash back can typically be redeemed as a statement credit, direct deposit, or gift cards.

Travel Rewards Credit Cards

Travel rewards credit cards enable you to earn points or miles on purchases, redeemable for flights, hotel stays, or other travel expenses. Many offer enhanced earning rates in travel categories and may include perks like travel insurance or lounge access. These cards benefit frequent travelers who can maximize point value through strategic redemption.

Balance Transfer Credit Cards

Balance transfer credit cards help consolidate and pay down high-interest debt from other credit cards. They typically offer an introductory period with a 0% or very low APR on transferred balances, allowing you to pay down the principal without accruing significant interest. A balance transfer fee, often 3% to 5% of the transferred amount, is commonly charged.

Low-Interest Rate Credit Cards

Low-interest rate (low APR) credit cards suit those who anticipate carrying a balance. These cards feature a lower ongoing interest rate on purchases, minimizing the cost of revolving debt. While they may not offer extensive rewards, their primary advantage is reducing finance charges for cardholders who do not pay their statement balance in full.

Evaluating Specific Card Offers

After understanding credit card types, evaluate specific offers based on their terms and features. A thorough review ensures the chosen card aligns with your financial habits and objectives. The “best” card varies depending on how you plan to use it.

Annual Percentage Rate (APR)

The Annual Percentage Rate (APR) is the yearly interest rate applied to outstanding balances if you do not pay your bill in full. It is a crucial factor if you expect to carry a balance, as a lower APR results in less interest paid. APRs can be variable, fluctuating with a benchmark rate, or fixed, remaining constant. Introductory APR offers, often 0% for a set period, revert to a higher standard APR after the promotional term ends.

Annual Fees

Annual fees are recurring charges for holding a credit card, typically billed once a year. Some cards waive the first year’s fee as an incentive. Assess whether the card’s benefits, such as rewards or premium perks, justify the ongoing cost. Many cards offer valuable rewards that can offset an annual fee if utilized effectively. If benefits do not outweigh the fee, a no-annual-fee card might be a more cost-effective choice.

Rewards Structure and Value

The rewards structure and value determine how much you earn and how beneficial those earnings are. Understand earning rates for different spending categories, potential spending caps on bonus categories, and the redemption value of points or miles. For example, a card might offer 3% cash back on groceries up to a limit, then 1% thereafter. Redemption value can vary; some points are worth a fixed amount, while others offer higher value when redeemed for specific travel or merchandise.

Sign-Up Bonuses and Introductory Offers

Sign-up bonuses and introductory offers provide a significant upfront incentive, often requiring a spending threshold within the first few months. These bonuses can substantially increase a card’s initial value, but ensure the spending requirement is manageable without overspending. These offers are temporary and should not be the sole basis for choosing a card if long-term benefits do not align with your needs.

Other Fees

Other fees, beyond APR and annual fees, can impact a credit card’s overall cost. Common examples include foreign transaction fees (typically 2% to 3% of the purchase amount) applied to transactions made outside the United States. Late payment fees are incurred if the minimum payment is not made by the due date, and cash advance fees apply when withdrawing cash. Understanding these potential charges helps avoid unexpected costs.

Additional Benefits and Protections

Consider additional benefits and protections offered by the card issuer. These can include purchase protection (covering eligible items against damage or theft) or extended warranty coverage. Some cards also provide travel-related benefits like car rental insurance, baggage delay coverage, or concierge services. These supplementary features can add considerable value, particularly for frequent travelers or those seeking enhanced security for purchases.

Applying for Your Chosen Card

Once a credit card is selected, the application process is typically straightforward. Most applications are completed online, offering a convenient and quick path to a decision. Gathering necessary information beforehand can streamline this process.

Personal and Financial Details

The online application form requires personal and financial details to assess creditworthiness. Common information requested includes your full legal name, current physical address, and contact number. You will also need to provide your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) for identity verification and credit report access.

Information regarding your employment status, gross annual income, and monthly housing costs (rent or mortgage) is typically requested. Card issuers use these details to evaluate your ability to manage new credit and determine an appropriate credit limit. Ensuring all provided information is accurate is important for a smooth application.

Application Decision and Card Delivery

After submitting the application, a decision can be instant, often within minutes for well-qualified applicants. In some cases, an application may go into “pending” status, requiring further review (typically 7 to 10 business days). Federal guidelines require issuers to provide an approval or denial notice within 30 days of application submission.

Upon approval, the physical credit card is usually mailed to your address, with delivery typically within 7 to 10 business days. Some issuers may offer expedited shipping or provide a virtual card number for immediate online use. Once the physical card arrives, it needs to be activated (often through an online portal or phone number) before it can be used for purchases.