What Credit Score Do I Need to Get Approved For a Premium Rewards Credit Card? 

This is an excerpt from a recent Q&A with renowned credit expert John Ulzheimer. You can see the entire interview on our YouTube Channel.

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“Whenever I think of premium rewards credit cards, I think of the American Express cards, and the [Chase] Sapphire card as a super popular one. And there are several others that have really high-end rewards, and they also come with the annual fees. 

So, credit card issuers are notoriously tight-lipped about their qualification criteria, but it’s no secret that there are certain score ranges that are going to be more attractive to premium card issuers than other score ranges. 

For a sense of relativity, let’s start here: The average FICO score in the U.S. — which blows people away because people think that the average FICO score is like 610, 620, 650 — is around 715.

And I think that blows people’s minds. But most people in this country have pretty good credit. 

The Average FICO Score by Year
Year (April Data)	Average FICO Score
2019	706
2020	708
2021	716
2022	716
2023	718
2024	717
2025	715

Most people would consider a 715 FICO score to be a good score. And as a matter of fact, no shortage of articles from authoritative sources that would call anything in the 700s a good score, when in reality, even the low 700s is actually about average. 

If you want some of the really high-end premium rewards cards, [like] the ones made out of precious metals, you really need [your credit score] to be into the 700s, if not into the mid-700s. There are certain cards that are not going to be offered or available for consumers who have scores in the 600s.

And certainly as you get lower into the 600s, they’re not even on your radar. So what I always tell consumers is stop trying to guess what American Express’s criteria is.

Stop trying to guess what Chase’s criteria is for their Sapphire rewards card and just try to earn the highest credit score you possibly can, and then you’re going to put yourself in what I call kind of the sweet spot.

Regardless of whether you’re applying for a high-end rewards credit card or a mortgage or an auto loan and you’re trying to earn the lowest APR possible. Generally speaking, if you can get your scores to be 740, 750 or higher, then you’re really gonna put yourself in the sweet spot, regardless of what it is that you’re applying for. 

Generally speaking, if you can get your scores to be 740, 750 or higher, then you’re really gonna put yourself in the sweet spot, regardless of what it is that you’re applying for.

Now, keep in mind that lenders, including card issuers, consider a variety of criteria when you apply for something. And although it seems like the only thing they care about is your credit score, that’s certainly not the case. In fact, in the card world, the card issuer is required to determine your likelihood of being able to pay or your capability of paying. 

So you can have FICO [score of] 800, but have zero income and you’re going to have a hard time getting your card. Conversely, you can have a FICO [score of] 580 and a six-figure income and also find yourself in an equally difficult position because you’re really only checking one of the variety of boxes that you have to check. 

Don’t get disappointed if you apply for a card and you’re denied and the denial notice you get from them has absolutely nothing to do with credit. It has to do with income relative to outstanding obligation. 

That would mean that you have an income problem, not a credit problem. But if you really get yourself into the FICO mid-700s and above, then at that point, you’re kind of showing off. Because there’s really nothing you can qualify for at FICO 850 that you can’t qualify for at FICO 800, 780, or 760. 

FICO Score Categories	Score Range
Exceptional	800-850
Very Good	740-799
Good	670-739
Fair	580-669
Poor	Below 580

And while a card issuer’s minimum scoring criteria or minimum threshold can certainly change over time because, number one, there’s no requirement that it be at any specific score point for any extended period of time. And, number two, there’s no requirement that all card issuers have the same minimum credit scoring requirements. 

For card issuer A, their premium rewards card may require FICO 730. Card issuer B, their premium rewards card may require FICO 740 or FICO 720. You just don’t know. 

Rather than trying to thread that needle across all the different card offers that are out there, work on your credit report because you only have three of them.

So that’s why I always tell consumers: Rather than trying to thread that needle across all the different card offers that are out there, work on your credit report because you only have three of them. Work on your FICO scores and get those in the best position as you possibly can. 

And then when you pull the trigger, at least you feel confident that you’ve got your best foot forward for that particular application at that particular time.”