2006-08-17 10:00:20 · 18 answers · asked by Anonymous in Business & Finance ➔ Credit
yeah - it is really bad.
580 to 620 is pretty poor. 620 to 680 is ok. 680 to 720 is pretty good. Above 720 is awesome.
Anything below 580 is pretty bad.
But if you pay off your debts and get some lines of credit open like a secured card and maybe an auto loan and a few department store cards - if you get four of these things and responsibly pay your bills for year, never being late, using them once a month and always staying below one third of your limit - you can fix your credit.
2006-08-17 15:37:11 · answer #1 · answered by Think.for.your.self 7 · 1⤊ 0⤋
557 is considered not good. You probably do not have a long credit history, so here are some basic tips from a gal who raised her score from the gutter. NEVER use more than 25 percent of your available credit. Do use credit ONLY if you can repay the full balance on time, DO NOT apply for MORE credit than you need. Be responsible and try to get in the habit of using cash instead of cards. When those bills come due, can be a shocker, and paying ONLY the minimums well, you will be a prisoner of debt with that mentality.
2006-08-17 15:59:41 · answer #2 · answered by Marilyn C 4 · 0⤊ 0⤋
It isn't very bad. I mean come on people, if your credit score can range from 300 up, then 300 is really bad. You can still get things accomplished with a 557. The major factor is what has caused it to be so low, do you have bad things on your credit or just haven't built it up yet?
2006-08-17 10:29:35 · answer #3 · answered by purpleama456 4 · 0⤊ 1⤋
Yes, A credit score above 650 will qualify you for standard interest rates and a score over 750 will help you get the best rates available... Click the source to read more.
2006-08-17 10:30:14 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes...Read this
Credit Score Explained
http://www.debt-loan-refinance-mortgage-credit.com/category/Credit-Score-Myths-Explained.html
Step-by-Step Credit Repair Guide
http://www.debt-loan-refinance-mortgage-credit.com/category/Step-by-Step-Credit-Repair-Guide.html
2006-08-18 02:49:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yeah, that's pretty bad. But, I have had that score and much lower, and I've been able to get loans and credit cards and have improved my credit. Pull your credit reports, find ways to improve it and think about disputing some stuff on it.
2006-08-17 10:08:16 · answer #6 · answered by bella_4624_19 4 · 0⤊ 0⤋
For Finance and credit solutions I visit this website where you can find all the solutions. http://creditandfinancesol.info/index.html?src=5YAawK55OiT3nsB1
RE :Is 557 credit score really bad for real?
1 following 17 answers
2017-04-06 16:40:12 · answer #7 · answered by ? 6 · 0⤊ 0⤋
depending on which angency you score is from, credit scores can range from 300 to 900. The Median FICO Score in the U.S. is 723.
2006-08-17 10:06:32 · answer #8 · answered by TLJaguar 3 · 1⤊ 0⤋
I pulled a free credit report on myself(604) and it was poor. Very poor is in the 300s.
2006-08-17 10:33:07 · answer #9 · answered by jessymae 1 · 0⤊ 0⤋
Yes. it is for real. You are considered as high risk for banks, credit union, car insurance companies
2006-08-17 11:43:00 · answer #10 · answered by Hoa N 6 · 0⤊ 0⤋