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is this a bad credit score

is 575 a bad credit score what can i do to make it better. no one will give me a credit card and i pay all my bills on time. i just don't know what to do. my bank won't even give me a small loan so i could build my credit

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Anonymous

Asked by Anonymous at 10:56 PM on Jan. 8, 2011 in Money & Work

Answers (12)
  • nope not great...you start with a credit card where its your money. My credit is not great but we are building it up...You need to start with small things you can get to build it up.don't max the card...My SO is better at this than me and is working on my credit. Like he got stuff off by disputing it.....Pay off what you owe. For that score there must be something on there.
    Anonymous

    Answer by Anonymous at 10:59 PM on Jan. 8, 2011

  • Not bad, but definitely not good, not really even fair.
    Anonymous

    Answer by Anonymous at 11:12 PM on Jan. 8, 2011

  • get a credit report to find out if there are any accounts that need to be taken care of. Once you have things taken care of there you can help raise your credit score a few ways. Just about any credit card that you get will more than likely be high interest but if you can get one start by buying small things with it and pay them off immediately so you dont accrue interest. loans will help a lot if you have a loan and are in good standing that should bring it up. Any account that you are on that reports to a credit agency can help or hurt you ( Loan, credit card, bills ) it doesnt matter if its your account or if you are just a co applicant or co signer it will still report to your credit..so if your SO has good credit and an account you can be added to that and it will help as well. Just make sure not to get too much credit and to always pay on time.
    foxracing43701

    Answer by foxracing43701 at 11:14 PM on Jan. 8, 2011

  • Here is a Credit Score Chart


    musicmom08

    Answer by musicmom08 at 11:19 PM on Jan. 8, 2011

  • I would say this is a pretty BAD CREDIT SCORE. Seriously, that's pretty freaking low. With a score like that I wouldn't want any more credit, I'd think I did enough damage.



    How to rebuild.  Don't open any more credit, pay down your debt, get current or to a monthly amount you can afford and then use it, but then pay it off over a few months.  Just a reminder for credit card debt, if you are consistently late on payments your score can drop 100pts, 100pts is very hard to gain back.  Get current, pay on time, and stop opening more credit.


     

    DomoniqueWS

    Answer by DomoniqueWS at 11:21 PM on Jan. 8, 2011

  • Yeah, anything below 600 is poor, I think. This is what I did to build my credit, first I started ordering small things from catalogs. Then, as soon as the catalogs started giving me credit with them I would order a few things on credit and as soon as the bill came in I would pay it all right away. Then, the first credit card that I got was from Orchard and after spending the money and paying it off a few times other offers started coming in. Just be careful to make sure they have a low APR and either very little or no annual fee.
    BUTTERCUP777

    Answer by BUTTERCUP777 at 11:25 PM on Jan. 8, 2011

  • I think you can get a credit card through some banks that work like debit cards. You put the money on it, use it, and then pay it off. First Premier Bank is a credit card company that helps people with low or bad credit build their history back up again. It may start out as $100, but as you spend and pay on it, they'll gradually increase your limit.


    When I was 18 or 19, I got an Express Fashion credit card. The limit was $250. After several years of using it and paying it off every month, they increased my limit to $2,050. This card helped me out during Christmas because you can also use that card at Bath & Body Works stores.


    Instead of getting that type of card, though, I'd go through First Premier Bank.

    _Tam_

    Answer by _Tam_ at 11:28 PM on Jan. 8, 2011

  • MINE IS WORSE THAN THAT ! LOL BUT NOT BY MUCHH, YOU CAN ALSO GET A SECURED CREDIT CARD WHICH IS YOU HAVE TO DO A $200 DEPOSIT & THEN YOU'LL HAVE A $200 LIMIT ( BASICALLY YOUR JUST SPENDING THE $200 YOU PUT AS A DEPOSIT ) BUT IF YOU PAY THE BARE MINIMUM OR LIKE $5 MORE THAN THE MINIMUM MONTHLY PAYMENT THEN YOU'LL SLOWLY BUILD YOUR CREDIT & THEN THEY WILL UP YOUR LIMIT & PAY BACK THE DEPOSIT, & GO TO FREESCORE360.COM & PAY $1 ( ITS FREE IF YOU WAIT FOR IT TO BE MAILED) TO GET YOUR INSTANT CREDIT SCORE ( BUT MAKE SURE YOU GET THE NUMBER & CALL WITHIN 7 DAYS TO CANCEL THE MEMBERSHIP OR YOU'LL GET CHARGE $30 A MONTH ) & ONCE YOU CHECK THE INSTANT REPORT THEN CALL N CANCEL & ULL GET THE $1 REFUNDED. THATS WHAT I DID.
    ZoeyMariah.

    Answer by ZoeyMariah. at 11:43 PM on Jan. 8, 2011

  • ZoeyMariah - Are you angry? Why all caps?
    _Tam_

    Answer by _Tam_ at 12:57 AM on Jan. 9, 2011

  • You can have worse! I wouldn't call it good though. Your best bet is to start paying your bills on time and cut up the credit cards.
    Erica_Smerica

    Answer by Erica_Smerica at 3:49 PM on Jan. 9, 2011

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