How much does a credit score out-of 550 indicate? Is actually a credit history away from 550 a good or bad?

A credit rating from 550 is considered “Worst.” Indeed, one credit history less than 619 can definitely just take a cost on the somebody’s lifestyle – and never inside the an ideal way. The effects shall be bad than just one might imagine.

In this article, we’ll display exactly what that have a credit rating regarding 550 means for home loans, car loans and you can handmade cards. When you look at the additionally, we’re going to display ideas on how to increase a beneficial 550 credit score.

Credit score of 550: Car loans

Purchasing an automobile which have a credit score regarding 550 is possible, but high interest levels will always given to individuals with crappy borrowing. Continuarea →