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Certainly, your credit score is one of the most important factors that an issuer will consider before approving you for a credit card. However, lenders will also look at your income level, employment status, and even your debt-to-income ratio when deciding whether you get approved.
A credit score of 700 is generally considered good. A score in this range can help you qualify for a credit card with favorable interest rates and terms. You could still get rejected in case you have a too-high credit utilization ratio or recent late payments. So, if you haven't checked your credit report yet, this is a good place to start when trying to improve your chances of getting a credit card.
Your credit report collects information that's used to calculate your credit scores, including payment history, account balances, inquiries for new credit, delinquencies, and public records. Check your report to make sure all the information is correct.
Your debt-to-income ratio, along with your credit history, is a key factor in lending decisions. It's the percentage of gross monthly income spent on repaying regularly occurring debts, including mortgage payments, rents, outstanding credit card balances and other loans. A high debt-to-income ratio can make it harder to get approved for a credit card or other types of credit.
If you already have one or more credit cards and are paying your monthly statement balance in full and on time each month, you can request a credit limit increase. This will increase your available credit limit and help improve your utilization ratio, assuming you don't make any new purchases against the higher limit.
If you do want a new credit card, you might want to see if the Discover it® Miles card is good for you. This no-annual-fee and no-foreign-transaction-fee card earns 1.5x miles on all purchases and comes with 15 months of 0% intro APR on purchases and balance transfers (18.24% - 27.24% Variable APR after that). As a new cardmember bonus, Discover will match all the miles you earn in the first year, with no cap. In other words, you'll earn respectable 3x miles on all purchases in the first year.