What does excellent credit mean?

Consumers with credit scores above 720 have excellent credit. If you aren't sure of your credit score, you can use our free credit estimator or consider whether you meet all of the following qualitative criteria for excellent credit:

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• I have had at least one credit card, line of credit or loan for a minimum of five years
  
• I currently have a credit card with a limit above $10,000
  
• I have NEVER been over 60 days late on a medical bill, loan or credit card payment
  
• I have never filed for bankruptcy

Banks often use their excellent credit credit cards as a means of attracting new customers, not only for the added low-risk business these people bring to their credit card divisions, but also for the possibility of establishing solid relationships and handling their potentially lucrative investment, retirement and everyday banking needs. As a result, you may find that the benefits of your flawless credit include initial credit card rewards bonuses worth up to hundreds of dollars or introductory interest rates on purchases and balance transfers as low as 0%.