Credit Score

Is 650 A Good Credit Score: Knowing The Lowest Score

Is 650 a good credit score

It is between 300 and 850 that credit scores may vary. The lowest score possible technically is said to be 300, but it is something that the average individual is likely to hit. In reality, more than 300 is what is actually termed to be a low credit score.

For instance,  if the person has applied for bankruptcy, it is likely to appear on his report. It is very much the same if he has defaulted on several debts and has not made any kin d of effort for making payments on those accounts. Again, if  he has had foreclosure recently or defaults or late payments on any of the credit line, then it is sure that hi s credit score would drop considerably.

Is 650 a good credit score?

This is a question that is asked by many people  who may be trying to apply for some type of loans. What they need to understand is that 650 is an average credit score, but having 700 and above is actually desirable.

There are low chances of the person falling into the 300 credit score bracket, something unheard of until now. Although the credit score of the person might not be absolutely the worst, the fact is  that anything that is below 600 is regarded to be useless, especially when applying for mortgage, credit card or loans. There is a need to understand the different  ways and means present to enhance the low score.

The right way to go about with the search is to log into Google and type the phrase “is 650 a good credit score”. Immediately, the person is taken to several websites and blogs that can provide him with useful information and education on the same.

Making the right moves for increasing the credit score

It is possible to have the low credit score to be increased to a fair one within a year. For this, the person needs to be disciplined and follow the below given tips and suggestions.

  • Opening secured accounts: Although having low credit score, it is possible for the person to qualify for secured credit card. In this type of card, the person can have a deposit placed. Besides secured credit cards, one can also look for secured loans which can be availed through a bank or credit union. Irrespective of how bad the credit score might be, the loan is still likely to be approved.
  • Maintaining accounts appropriately: If the person has been enjoying good accounts, then it is to be maintained properly and kept that way.
  • Maintaining patience: With the aging of the negatives, an improvement can be noticed in the low credit score, even if new accounts are not created. Although the clock might not be stopped from moving ahead, with time, it can be really reassuring.
  • Using credit repair services or self-help guides. At times, negative entries can be found and deleted from the credit report due to technicalities as to how they got reported.

According to the industry experts, 620 is the lowest score for purchasing a house. If under 620, then lots of loops and hassles are to be passed through for being eligible for loan approval.

About the author


Willie DeJarnette

Just wanted to share some financial content towards credit cards, payday loans, and home loans. Please check out the blog and see if this content is beneficial to you.


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