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Is 603 a bad credit score?

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Asked by Anonymous at 7:03 PM on Mar. 25, 2013 in Technology

Answers (12)
  • Not the best but certainly not the worst...

    Answer by older at 7:10 PM on Mar. 25, 2013

  • middle of the road, to be honest it should be above 650 but depends on why, if you don't have alot of credit and have paid on time, that is one thing, but if you have alot of credit, late balances etc. then not so good.
    My husband and I have zero credit cards, and zero loans, with the exception of our home, to some this is a bad thing, but to lenders for homes and large purchases it looks like we are responsible.

    Answer by Anonymous at 7:15 PM on Mar. 25, 2013

  • 750+ get the best rates, 600 is very average, and far from the worst. "bad" starts around 550.

    Answer by Mom-2-3-Girlz at 9:29 PM on Mar. 25, 2013

  • Depends on what you are trying to do, to buy a car, or get more credit, you're okay, but you won't get the best rates. To buy a house, lender said the minimum was 620, and that will get you in, but with a high interest rate, and you will probably need a larger down payment.

    Answer by ohwrite at 9:37 PM on Mar. 25, 2013

  • If it were mine, I would be making some drastic changes.

    Answer by AllAboutKeeley at 11:36 PM on Mar. 25, 2013

  • I am a stay at home mom. I have one credit card and have always paid my bills. I don't understand why it is so low.

    Comment by Anonymous (original poster) at 12:11 AM on Mar. 26, 2013

  • It depends on how much debt is on your card and how high the credit limit is. There's something called debt to limit ratio, so your credit score will be lower if your card is closer to maxed out, and higher if there's more room on it. Or the score might be low if you don't carry a balance on the card at all. If you want to get the score higher for some reason, consider applying for a second credit card, then keeping the balances low on each, but carry a little over for a few months at a time so you can show a record of making prompt payments.

    Answer by Ballad at 12:51 AM on Mar. 26, 2013

  • Get a copy of your credit report from each of the reporting agencies....Experian, Transunion, and Equifax......and go over it carefully. There might be something on there that is an error. I have found errors on mine twice. You are entitled to a free report once a year. Follow their instructions to dispute any incorrect information.

    Answer by silverthreads at 8:49 AM on Mar. 26, 2013

  • I got denied for a credit card, that's how I learned my credit score was low. I was going to transfer my balance to a no interest for a year deal.

    Comment by Anonymous (original poster) at 1:16 PM on Mar. 26, 2013

  • I think Ballad hit it on the nose.

    Comment by Anonymous (original poster) at 1:25 PM on Mar. 26, 2013

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