Wednesday, May 26, 2010

My credit score is a 576 where do I stand?

You are well under the nation average of 675 but I have seen a lot worse.

You can be approved for car loans and credit cards but you will pay higher interest rates. Your score puts you in the Sub-prime category.

My credit score is a 576 where do I stand?

your not that bad ive seen worse. i sell cars and i can get you approved . if u want to raise ur score use credit cards but pay them off with your first bill do that for a few months dont have any dept and you%26#039;ll be ok. plus u shouldnt worry about your score until its time for you to buy something big. and the worse your credit score is the higher the interest you will pay

My credit score is a 576 where do I stand?

I actually work at a credit union and I%26#039;ve done loans before. It depends on why. It%26#039;s either you don%26#039;t have enough credit yet or you messed it up. I believe the average is about 600-650. You would be under the FAIR standing.

My credit score is a 576 where do I stand?

not too good.... try to bring it up to above 650 then 700 should be your goal.

My credit score is a 576 where do I stand?

I agree with Pilot, and I would recommend getting a free copy of your credit report.. If you haven%26#039;t already.. And go through and see if there is anything you can do about the problemsome reports.. usually being dilligent about making payments will improve your score in about 6 months. Also.. Don%26#039;t rush into buying anything if you don%26#039;t have to, and don%26#039;t attempt to open any new credit accounts.. these do count against you. I recently found out that each LATE payment that is sent to a credit bureau is 30 points off of your score.. so keep an eye on that too!

Good Luck!

My credit score is a 576 where do I stand?

725 is the average FICO score.

625 is the average Faco score (non-FICO system used by credit bureaus)

My credit score is a 576 where do I stand?

its poor, u need to be like 650 and up

My credit score is a 576 where do I stand?

The score is poor, you wont be able to get good interest rates for anything and so if you plan on making any purchases or applying for new credit you should try to fix what you can.

You need to have at least a 700 ranking to be good/fair.

When you%26#039;re trying to build a solid credit score it%26#039;s important to get a comprehensive view of what is actually effecting it...

Your Credit Score (also known as your MyFico score) is calculated with the following breakdown:

35% - Payment History

30% - Credit to Debt Ratio

15% - Credit History

10% - New Credit

10% - Credit Types in Use

If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score

I raised my score to well over 700 points fro 500 using these steps in less than a year -- :

# Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score tracking listed below. It really helped my get my score up.)

# Never Miss a Payment, Starting Today

# Never use more than 20% of your Available Credit

# Keep Credit Cards that Have No Annual Fees Open For as Long as Possible

# Extend Your Credit Limit on Cards You Already Have before You Get New Ones

# Get Credit Cards that Have CashBack Rewards to Contribute to your Balance

# Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit-

# If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan

# Take out a Small Personal Loan and Repay it Over a Year

# Ask Someone With Good Credit if They will Account Shadow you

Read more here:

10-Ways to Boost Your MyFico Score


  1. Okay, my husband got hurt on the job and they laid him off and we lost everything, bankruptcy was the only choice we had. Now my husband has received a work-comp settlement and we would like to buy land with a nice building on it for 40,000. Our bankruptcy was discharged in March and my husband draws disability plus will receive his settlement over the next three years. With a low credit score of 576, we just purchased vehicles which we needed badly and now we need a place to live. Where is the best place to get a loan where they understand what we went through not looking as if we are people who do not pay our bills? We would like to put 10,000 down on the property. The Realtor told us the property value is around 60,000.

  2. Beacon score is 551, three reporting credit scores are 576-595

  3. Read your blog its really informative and helpful keep updating with newer post on Property loan emi calculator

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  5. Thank you for sharing such great information.
    It is informative, can you help me in finding out more detail on
    what is a good credit score for a home loan.



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