What credit score is needed for a travel credit card?
Quick insights
- Travel credit cards can be specific to an airline or a hotel.
- With a high credit score, you could increase your chances of approval.
- With responsible credit management, you can make the most of your travel credit cards.
If you’re a frequent traveler or someone who is looking to make the most out of their credit card rewards, you may be interested in applying for a travel credit card. Let’s learn about how travel credit cards work and if there is a specific score to access them.
Understanding travel credit cards and their credit score requirements
First, let’s review what travel credits card options you have: they are either specific to an airline or hotel or they are a general travel card. An airline credit card is a type of rewards credit card designed for frequent flyers and may offer perks such as free checked bags, priority boarding, airport lounge access and miles for specific airline purchases. It can also allow cardmembers to earn miles on everyday purchases, which can be redeemed for flights, upgrades and more.
A hotel credit card may be used to earn rewards when staying at hotels in that rewards program and may include benefits like the ability to also earn rewards on everyday purchases, hotel elite status and other hotel free night certificates.
Now, you may be wondering: What credit score do I need to get a travel rewards card?
To help you determine which credit score range your score falls in, let’s review the ranges for both VantageScore® and FICO® score below:
As of May 2024, VantageScore ranges areexperian-what-is-vantagescore:
- Excellent: 781 to 850
- Good: 661 to 780
- Fair: 601 to 660
- Poor: 500 to 600
- Very Poor: 300 to 499
As of May 2024, FICO score ranges arescores-according-to-myfico:
- Exceptional: 800+
- Very Good: 740 to 799
- Good: 670 to 739
- Fair: 580 to 669
- Poor: 579 and below
The minimum credit score required for a travel credit card can vary depending on the issuer and the specific card. Additionally, credit scores are not the only factor issuers evaluate when reviewing your card application.
A high credit score can be important for qualifying for a travel credit card (as well as for your overall credit profile) because credit card issuers use credit scores to help determine your creditworthiness, which is an individual's ability to make debt payments on time and in full. A higher credit score demonstrates more responsible credit management and may help increase the likelihood of approval for cards, including those with more favorable rewards.
If you’re curious about your credit score and ways to help improve it, consider enrolling in Chase Credit Journey®, a free online tool anyone can use, including non-Chase cardmembers. This tool allows you to access your free credit score, provided by Experian™, without impacting it.
Importance of a good credit score for travel credit cards
Your credit score may impact your eligibility for a travel credit card because it provides lenders with a snapshot of your creditworthiness and ability to manage credit responsibly. The higher your credit score, the better your chances may be for approval as well as the potential to access cards with more favorable terms and benefits.
It’s important to note that there are other factors lenders use to determine your approval, such as debt-to-income ratio and employment history.
Ways to help improve your credit score
If you’re wondering how you can improve your credit score prior to applying for a travel credit card, focus on paying bills on time to positively impact your payment history and do your best to keep your credit card balances low, which helps to lower your credit utilization ratio, an important factor used to calculate your score. Additionally, you could check your credit report for errors and report any inaccuracies to the credit bureau(s).
Prequalification and approval process for travel credit cards
It is possible to get prequalified for a travel credit card. Prequalification allows you to check your eligibility for a credit card without impacting your credit score. The prequalification process typically involves providing basic personal information (such as your date of birth) and consenting to a soft credit check. Based on this information, credit card issuers will determine if you meet their initial criteria for approval.
After the prequalification process is complete, if you were deemed eligible, you may consider moving forward with a formal credit card application, in which your lender will run a hard credit check and evaluate a lot of factors to determine if you are approved or not. Note: Prequalification does not guarantee approval for a credit card.
Considerations and tips for travel credit card applicants
Keep in mind the following considerations if you’re thinking about applying for a travel credit card.
Some pros of travel credit cards include:
- The potential to access travel rewards and redemption options and travel insurance coverage.
- Depending on the card you get, you may receive additional travel benefits such as airport lounge access or hotel room upgrades.
The cons of travel credit cards include, but are not limited to:
- Potential annual fees.
- If you choose an airline or hotel co-branded credit card, your award redemption options may be limited to a certain selection of airlines or hotels.
Whichever card you decide to pursue, it's important to review the terms and conditions of the credit card to understand the fees involved.
Improving and maintaining your credit score
If you have a travel card but want to continue to maintain or build your credit score, you should implement consistent healthy financial habits such as:
- Pay bills on time.
- Lower your credit utilization ratio to 30% or less.
- Keep your spending within your budget.
- Avoid accumulating excessive debt.
- Look for opportunities to maximize your rewards and reap the benefits of your card so that you can apply the rewards earned to future travels.
In conclusion
Credit scores are an important part of your credit profile. Regardless of which line of credit you are applying for, note that the higher your credit score, the better your chances can be for approval and accessing more favorable terms. Continue to use your cards responsibly and earn rewards as you simultaneously build your credit. With responsible credit management and spending, you can maintain or potentially improve your credit score.
