I am 19 and have a credit score of 650...is that good?

Answer 1

It's below the national average of 678. Most people your age don't have a clue that score is not an true indicator of credit worthiness.

Your score is made up of the following;
1. Payment history 35%
2. Time in bureau 15%
3. New credit 10%
4. Type of credit used 10%
5. Debt to income ratio 30%

As you can see, 1,2 & 5 are the most important. Now at only 19 you can not have much of a payment history or time in bureau.

While 650 is a respectable score, it depends on what makes up that score not how high it is. I see people every day that have scores over 700 that can't buy a vehicle because their score is made up of 1-credit card paid 20-times and a couple of student loans.

Answer 2

650 is a pretty low score, but not necessarily a poor one. At 19, chances are much of it is driven by a very limited credit history. At your age, if you had anything derogatory in your report, your score would probably be much lower.

Continue to use your credit conservatively and wisely, and your score will soon reflect that.

Answer 3

Yes, that's decent but there's always room for improvement.

1. Be sure to pay on time every month.

2. If you have credit cards, try to keep your balances low, or none at all. Try to use them in dire emergencies

3. Be selective when you apply for credit. Every time that you apply for credit it dings your score up to 3 points.

Here's a website to check out that will acutally help (click below)

Answer 4

650 is alright. the best you can do is about 850. so there's plenty of room for improvement. but if you're looking to get a car loan your chances are good, but you also need a credit history...get a credit card...DON"T use it, and that will build your credit.

Answer 5

For your age, that's a pretty great score.

Answer 6

yes that is good---meaning average .. 750 to 850 is EXCELLENT

Answer 7

Could be better, but you should have few problems because of it.

Answer 8

yeah its fair, anything 620 and up its pretty good.

Answer 9

That is average. not too bad.

Answer 10

yes....its OK