Credit cards
What is a credit score?
Definition snippet
A credit score is a three-digit number — typically ranging from 300 to 850 — that summarizes your creditworthiness based on your borrowing and repayment history. It is calculated by credit bureaus using factors like payment history, credit utilization, length of credit history and types of accounts. The higher your score, the more likely you are to qualify for premium credit cards, lower interest rates and better financial products.
TL;DR / Key Takeaways
- A credit score runs from 300 to 850; most top travel rewards cards require a score of 670 or higher, and premium cards typically want 740+.
- Payment history is the single biggest factor — accounting for roughly 35% of your FICO Score.
- Keeping your credit utilization below 30% (ideally under 10%) is one of the fastest ways to improve your score.
- Every hard inquiry from a new card application can temporarily lower your score by a few points, so space out applications.
- Checking your own credit score is a soft inquiry and does not hurt your score — monitor it regularly.
How is a credit score calculated?
Your credit score is not a single number from one source — different scoring models exist, with FICO and VantageScore being the most widely used. Most major card issuers rely on FICO Scores, which weigh five factors to produce your score.
The five FICO factors are:
- Payment history (35%) — Whether you pay on time is the most heavily weighted factor. A single missed payment can cause a significant drop.
- Credit utilization (30%) — The percentage of your available credit you’re using. Lower is better; under 10% is ideal.
- Length of credit history (15%) — How long your accounts have been open. Older accounts generally help your score.
- Credit mix (10%) — Having a variety of account types — credit cards, auto loans, mortgages — can benefit your score.
- New credit (10%) — Recent hard inquiries from new applications can cause a small, temporary dip.
What credit score do you need for a travel credit card?
Card issuers don’t publish exact score cutoffs, but patterns from applicant data make the landscape clear. Generally speaking, the more premium the card, the higher the score you’ll need to qualify.
| Credit Score Range | Rating | What It Means for You |
|---|---|---|
| 800–850 | Exceptional | Qualify for the best rates and premium travel cards |
| 740–799 | Very Good | Eligible for most top travel credit cards |
| 670–739 | Good | Approved for many rewards cards; some premium cards may be out of reach |
| 580–669 | Fair | Limited card options; higher APRs likely |
| Below 580 | Poor | Difficult to qualify; focus on rebuilding before applying |
If you’re targeting premium travel cards, aim for a FICO Score of at least 740 before applying. That said, issuers consider your full credit profile — income, existing debt and relationship with the bank — not just your score. Check out TPG’s list of the best travel credit cards.
How to improve your credit score before applying
If your score isn’t where you want it yet, the right moves can produce meaningful gains within a few months — and sometimes faster.
- Pay every bill on time, every month. Set up autopay for at least the minimum to protect your payment history.
- Pay down revolving balances. Getting your utilization under 30% — and ideally under 10% — can lift your score quickly.
- Don’t close old accounts. Keeping older cards open (even if unused) preserves your credit history length and available credit.
- Limit new applications. Each hard inquiry temporarily shaves a few points — space out card applications by at least 3 to 6 months.
- Dispute errors on your credit report. Incorrect negative items can drag your score down. Request your free report at AnnualCreditReport.com and flag any inaccuracies.
Learn more ways to improve your credit score in our article.
Frequently asked questions about credit scores
What is a good credit score for a credit card?
A score of 670 or above is generally considered good and opens access to most rewards cards. For premium travel cards, you'll want a score of 740 or higher. Scores below 670 don't disqualify you from all cards, but your options will be more limited and may come with higher APRs.Does checking my credit score lower it?
Checking your own credit score is a soft inquiry and has zero impact on your score. Only hard inquiries — which occur when a lender reviews your credit after a formal application — can lower your score, typically by a few points. Soft inquiries from self-checks, pre-qualification tools or account reviews by existing lenders do not affect your score at all.How often does your credit score change?
Your credit score can change whenever new information is reported to the credit bureaus, which typically happens monthly when your card issuer or lender sends an updated statement. That means a score can technically shift every 30 days or so. Major changes — like paying off a large balance or missing a payment — can move your score more quickly.What credit score do you need for a premium travel credit card?
Most issuers don't publish official minimums for premium travel cards, but approved applicants typically have scores of 720 or higher — with many reporting 740 and above. Lenders also weigh your income, existing debt load and overall relationship with the bank, so a strong credit history with consistent on-time payments matters as much as the score itself.Can you get a travel rewards card with fair credit?
It's possible, but your options are limited. Most premium travel cards require good to excellent credit. If your score is in the fair range (580–669), consider starting with a secured card or a card designed for building credit, then graduating to a rewards card once your score improves. Some mid-tier rewards cards are accessible with fair credit, though they typically come with lower earning rates and fewer perks.
