What does a credit rating regarding 550 indicate? Was a credit score regarding 550 a great or crappy?
A credit score out-of 550 is considered “Poor.” Actually, any credit history less than 619 can definitely get a cost into the a person’s existence – and not during the an ideal way. The results might be worse than you to definitely might think.
In this post, we will express what with a credit rating out-of 550 method for home loans, car loans and credit cards. During the at exactly the same time, we shall express how-to boost an excellent 550 credit history.
Credit score out-of 550: Auto loans
Purchasing an automobile with a credit rating from 550 is possible, but high interest rates are often made available to people who have crappy credit. What is the interest rate to have a credit rating out-of 550 towards the an auto loan?
Earliest, let us do the mediocre loan amount by vehicle consumers: $27,one hundred thousand, according to Melinda Zabritski, Experian’s senior manager out-of automobile borrowing from the bank.Read More