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News: What Credit Score Do You Need For A 0% APR Credit Card? - Credit-Land.com

We are all looking for credit cards with the lowest possible APRs (annual percentage rates), and, therefore, 0% APR credit cards are so popular. Such cards may help you to pay off existing debt or make a large purchase.

You may wonder what credit score you'll need to qualify for a 0% APR card. Generally, you'll need a good-to-excellent credit score to be approved for 0% interest credit card offers, which translates to a FICO® Score of 670* or higher.

However, a good credit score alone does not guarantee approval for a credit card. While scores are a large factor in issuers' decisions, there are examples where people with excellent credit get denied. The possible reasons are too many lines of credit, too many applications in a short period of time, too much debt compared to income, or a high utilization ratio. So you should take these additional factors into account as well when shopping for 0% intro APR credit cards.

Plus, it's good to know that different 0% APR credit cards have varying credit score requirements and that lenders interpret the information on your credit profile in varying ways. So it's not impossible for applicants with scores below 700* to get approved for a 0% intro APR credit card.

If your credit score is close to 670* or even lower, consider taking steps to improve it before you apply for a new card. This will give you a better chance of getting approved. Start by checking your credit scores and credit reports. If you have any accounts with late payments, try to bring any late accounts to current. Be diligent about making all of your payments on time and never forget or be late with your credit card payments. If you continue making all your payments on time, you should see positive changes to your credit scores. Another important thing when improving your credit is keeping your credit utilization ratio low. Try to pay down credit card balances and other debts.

*Credit score calculated based on FICO® Score 8 model. Your lender or issuer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether.

tags : Credit Score Interest Rates Low Intro APR

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All rates and fees, and other terms and conditions of the products mentioned in this article/post are accurate as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.