What is the Lowest Possible Credit Score? | Chase?

Both VantageScore and FICO scores span from a low of 300 to a high of 850. They are then split into ranges, based on how low your credit score is to how high it is. VantageScore credit score ranges are: Excellent: 781 to 850.

Is it possible to have 0 credit score?

Does No Credit Score Equal a Zero Score? No. Fortunately, no one's credit score can equal zero – the range for FICO scores is 300-850 – and even people with poor or bad credit have a credit score of at least 300.

What's the lowest a credit score can go?

What is the lowest credit score possible? Generally, credit scores range from 300 to 850, making 300 the lowest possible credit score. But it's important to note that you typically have more than one credit score. And they may differ depending on the credit-scoring company and when they were calculated.

Can you have a credit score under 300?

A very poor credit score can happen to the best of us. But even those with poor credit rarely see their scores drop to 300 . This is the lowest credit score possible for both FICO and VantageScore. Several factors go into calculating a credit score, but your payment history is the biggest factor.

Why did my credit score go from 524 to 0?

Credit scores can drop due to a variety of reasons, including late or missed payments, changes to your credit utilization rate, a change in your credit mix, closing older accounts (which may shorten your length of credit history overall), or applying for new credit accounts.

Who has a 999 credit score?

A credit score of 999 from Experian is the highest you can get. It usually means you don't have many marks on your credit file and are very likely to be accepted for a loan or credit card .

What credit score is 666?

A FICO ® Score of 666 places you within a population of consumers whose credit may be seen as Fair. Your 666 FICO ® Score is lower than the average U.S. credit score . Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.

Is a 900 credit score possible?

Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score . The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.

What is the lowest credit score ever recorded?

Low Credit Score FAQ It is impossible for a person's credit score to drop to 250, as 300 is the lowest number that the major credit bureaus standard modeling will recognize.

What happens if my credit score is 0?

But your credit score won't start at zero, because there's no such thing as a zero credit score . The lowest score you can have is a 300, but if you make responsible financial decisions from the beginning, your starting credit score is more likely to be between 500 and 700.

Can you get approved with 0 credit?

Credit invisibility can make things like getting approved for a credit card or a loan more difficult or costly. It's possible to get a credit card with no credit . You might consider applying for a secured credit card, student credit card or retail store credit card to help establish and build your credit.

How many people have no credit score?

According to the U.S. Government Accountability Office, as many as 45 million Americans are “credit invisible,” meaning they have no credit history.

What credit score do you need for 0?

0% APR cards require good to excellent credit This means you'll need a FICO credit score of at least 670 or a VantageScore credit score of at least 661 . If you have very good or excellent credit, which means a FICO score of at least 740 or a VantageScore of at least 781, your chances of approval are even higher.

What is the Lowest Possible Credit Score?

Let's be honest — not all of us have the best credit scores. That's okay! Your credit score is not a reflection of your value as a person, but rather a tool to help lenders measure your financial risk.

A poor credit score can impact your ability to make major financial decisions in your life. That's why understanding what it means can help you make proactive choices and think about ways you can improve it.

In this article, you will learn about:

Lowest credit score ranges

When it comes to credit score ranges, it's important to keep in mind there are many different scoring models, but the two most prevalent are VantageScore^®and FICO^® scores. Poor credit scores are further categorized into ranges below.

Poor VantageScore credit score ranges are:

Poor: 500 to 600
Very Poor: 300 to 499

Poor FICO credit score ranges are:

Fair: 580 to 669
Poor: 579 and below

The lowest score you can get with either model is 300, though past scoring models have gone lower (and aren't used so much today). According to FICO, an estimated 11.1% of Americans have a FICO score ranging between 300 and 549 as of 2019.

Disadvantages of having a poor credit score

Having a poor credit score can inhibit you from making major life choices or create more obstacles to getting what you want—whether that's a home, car, credit card or a major purchase. The following are a few disadvantages to having a poor credit score:

The inability to get a credit card, a line of credit, a personal loan, etc.
May affect your ability to rent an apartment
High APRs for loans you are eligible for
Hurt your chances of getting employed (if your potential employer runs a credit check)

Lowest credit score to get a mortgage

Having a poor credit score doesn't necessarily mean you can't take out a mortgage. However, it depends on the lender or financial situation. It's always important to check with your prospective lender, but generally, according to Experian™, most mortgages require about a 620 score. The lender may require a larger down payment to compensate for a low credit score.

According to Experian, other options for lower credit scores include the following loans:

Federal Housing Administration (FHA) loan: a 500 credit score with 10% down payment or a 580 credit score with a 3.5% down payment
Veterans Affairs (VA) loan: a 620+ credit score
United States Department of Agriculture loan (USDA): a 580+ credit score

Lowest credit score to get a car

Similar to mortgages, your eligibility for a car loan and the rates you receive are heavily dependent on your lender and credit score. Some dealerships use a FICO auto score, which ranges between 250–900. Keep in mind this is different from other FICO scoring models, where the lowest score you can get is 300. Generally, the lower your credit score, the higher the annual percentage rate (APR).

To get a reasonable interest rate, you need around a credit score of 660 or higher. If you have a poor credit score (in the 300–500 range) you may be able to have a co-borrower help with getting you approved for a car loan. Having a co-borrower may show that there's an additional level of responsibility and usually reduces the risk for the lender.

Improve your credit score with Credit Journey^®

As you can see, a low credit score has the ability to make it difficult for you when it comes to major life decisions. Whether you're taking out a mortgage, buying your first car or looking to take out a loan for a major purchase, a low credit score can hurt your chances of getting what you want.

That's why it's essential to be proactive about increasing your credit score with tools like Chase Credit Journey. This free online resource gives you the ability to regularly check your credit score (without hurting it) and personalized action plans provided by Experian™ to help improve your score.

What is the Lowest Possible Credit Score? | Chase (2024)

Lowest credit score ranges

Disadvantages of having a poor credit score

Lowest credit score to get a mortgage

Lowest credit score to get a car

Improve your credit score with Credit Journey^®

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