Can you get a credit card with a 640 credit score?

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First find out exactly why your score is 640 and try to increase it. You probably should apply for a secure credit card in order to build your credit score.

Below is a way of interpreting your credit score.

Given the current credit score stats, how does this relate to your own personal score? Generally, if your score is higher than 660, you will be considered a good credit risk. If your score is below 620, then you might have a tougher time getting a loan. The following ratings explain the impact of the different score ranges:
  • 720-850 - Excellent - This represents the best score range and best financing terms.
  • 700-719 - Very Good - Qualifies a person for favorable financing.
  • 675-699 - Average - A score in this range will usually qualify for most loans.
  • 620-674 - Sub-prime - May still qualify, but will pay higher interest.
  • 560-619 - Risky - Will have trouble obtaining a loan.
  • 500-559 - Very Risky - Need to work on improving your rating.
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Does canceling inactive credit cards help your credit score?

I am a senior credit counselor, and actually closing your cards will hurt your score, the way your score is calculated is by how much available credit you have in comparison to how much debt you are currently carrying. If you have the cards with zero balance and available credit on them, then raises (MORE)

Does increasing the limits on a credit card hurt your credit score?

There is no definitive answer to questions about credit scoring. The computations used to determine any individuals' credit score is emphirical, complex and relates to all the information reported on them. Two factors which can impact credit scoring are inquiries and the proportion of money owed to (MORE)

What credit score do you need to have to get a credit card?

Answer . The lowest score you can have and get a decent interest rate would probably be in the 660-620 range.\nThere are companies willing to issue a card or loan to almost anyone.\nThe person would,however, pay a premium price in interest and fees..

What does a 640 credit score mean?

Your credit is fairly good. Well, maybe about average. Credit scores over 620 means that you can get pretty much any loan or credit you want, with okay terms. Credit scores over 720 are gold. You can get the best interest rates.

What is the minimum credit score required to obtain a credit card?

Answer . \nThere is no real definitive answer to this question due to the fact that credit card companies can set their own qualifying standards. \nHowever, the majority of companies use the FICO credit score model when evaluating a person's creditworthiness. The parameters of the FICO range from (MORE)

Where can you get a credit card if you have a below average credit score?

Answer . Orchard Bank offers secured and non-secured credit cards to consumers with poor to very poor credit scores. They usually have a limit of $100 - $300, but after 6 months to 1 year, your account history is evaluated and if it meets their requirements, you will receive a credit increase. (MORE)

How can paying down your credit cards lower your credit score?

Answer . \nPaying down your credit cards won't lower your scores-- but paying off and closing the credit cards will lower\nthe scores. You want to show that your cards are not maxed out and you have plenty of room between the credit limit and the balance .

If you apply for a credit card and get rejected does that affect your credit score?

It can affect you for short time. If you want to build your credit, probably the best method is to apply for a secure credit card (Bank of America for example). This card works like a regular credit card, only you're using your own money. Let's say you put in the account 500$; you will have a credit (MORE)

Can a credit card raise your credit score?

Answer . Having a credit card is a great step to starting your credit score. However, just having the card and not doing anything with it have very little impact. The best way to take advantage of it is to periodically use and payoff the card to establish yourself in the world of credit.\n. \nY (MORE)

What credit score do you need to get a credit card?

Answer . \n. \nBelow you will find an approximate example of what an issuer may use in regards to credit. One factor to consider is the rate will differ dramatically from a person with good credit and a person with bad credit. Credit rating and history will also affect the amount of credit th (MORE)

What does your credit score have to be to get a credit card?

This completely depends on the bank you are going to and their guidelines. Currently, most banks are turning people down with credit score below 660. If your score is not high enough, one of my favorite ways to boost a person's credit card score is to teach them about the magic of authorized users. (MORE)

How will settling credit card debt affect your credit score?

It will raise your score slightly. If you don't settle a delinquent account, the verbage on your credit report may read: "collection account", or "unpaid collection account". However, if you settle, the report may read "settled". By settling with the debt collector, you have made an attempt to fulfi (MORE)

What is the best credit card to apply for with a low credit score?

if you need a credit card you can go here. it has major credit card companys and there is something for everyone bad credit no credit business students prepaid everything you're looking for they have and its not hard to get approved 0% rewards an (MORE)

Does lowering your credit limit on a card hurt your credit score?

Lowering a credit card's limit may cause a credit score to go up,down, or remain the same. Factors that impact a credit score caninclude: the amount a credit limit is reduced, on-time payments,new accounts being opened and if balances are paid down orincreased.

Is 640 a recommended credit score for auto financing?

640 is a decent score. The score needed to get most of the advertised specials by the various manufacturers is normally a minimum of 720-750 or higher. If you have never had a car loan before 640 is a great score to start out with. There are other variables that go into consideration for a loan. Tim (MORE)

Why does closing a credit card have a negative impact on your credit score?

Because 30% of your credit score is based on your debt to available credit ratio. For example, if you have. 3K in credit card debts and if you add up all your available credit limit from all your credit cards for a total of $10K.. =your current debt/available credit = 3K/10K = 30% Ratio (Ideal Rat (MORE)

Will paying off your credit cards raise your credit score?

things that raise your credit score are , having major cards open more than 3 years, and showing good standing with that creditor. you dont have to use a credit card to show good standing. yes paying off high dept will raise your score. and having too much on your cards even if you pay on time will (MORE)

If my wife applies for a credit card will it affect your credit score?

No, it won't affect my score, she's not my wife.. Just kidding.. Credit may be obtained individually (even in community property states) by law. Therefore your spouse can apply without you, meaning that your information and your social security number (by which you would be reported to the credit (MORE)

Credit card closed by issuer affect credit score?

Yes. Creditors report to the credit reporting agencies the terms under which an account is closed. It looks bad and is a slightly more derogatory status when an account is closed by the lender vs. closed by the customer.

Can you get a loan with a credit score of 640?

This depends on where you are going to get the loan. If loaner agrees the risk is safe then the loaner will give you the loan but of course it will be at a higher interest rate then if your credit score was 815. A low FICO is often a strong hint that you are not credit worthy. If you are trying f (MORE)

What Credit cards will approve credit for credit score 544?

I dont think there is.. because in order for you to get a high credit score you have to pay on time or in full payment then to increase your credit limit you have to purchase more but you have to pay it in full. so better purchase on things that you are able to pay it in full. that will make your cr (MORE)

How do you get your credit score without a credit card?

There's no need to have a credit card to get your credit score. You can use various web based services in order to get your credit score for free -- no credit card required. See the source links for links to sites that can help provide more information on checking your credit score.

How high credit cards affect your credit score?

High Credit card balance affect your credit score negatively. See, the debt to credit ratio makes up 10% of your credit score. This means the amount of money you owe on a credit line. The more you owe, the worse it hurts your credit (maxed out cards do the most damage). It is recommended to (MORE)

How does over paying your credit card affect your credit score?

There is no such thing as "over paying" a credit card unless you are paying more than the total amount owed. If you mean to pay more than the minimum, it is always a good idea to do so since most credit card minimum payments are stretched over many years. (and that's if you don't use the card durin (MORE)

Can you get a credit card with a 611 credit score?

If you have a 611 credit score, there's a good chance you will not be approved when applying for a credit card, assuming it requires good or excellent credit. Put simply, most creditors refer to credit scores below 620 as "subprime." So a credit score below that range likely won't be sufficient f (MORE)

Does canceling a new credit card hurt your credit score?

Canceling your card can hurt your credit score..... SORRY!! You should not cancel even if you intend not to use it. One credit secret is the more available credit not in use the better you look. I.E. percentage of revolving debt compared to available-it helps reduce that and increase your number. (MORE)

What credit card can you get with a score of 637?

I have a discover, citibank, capital one and orchard bank card. Also a walmart, macys and a few other retail type cards. It really depends on your credit history, payments, and other overall items.

How can you increase credit score over 640?

1. Pay your bills on time. 2. Keep your balance to limit ration at 20% or less on your debt. 3. Have a good mix of credit (installment and revolving). 4. Do not close old accounts. 5. Do not apply for credit more than once every 6 months.

Can you buy a car with a 640 credit score?

That depends on the car dealership/lender. They all have different evaluations on review a consumer's credit worthiness. It all depends on how much risk they want to take on a consumer. The lower the score make a higher risk that the loan won't be paid back and visa versa.

Will credit card increase my score?

That depends on the consumer using the credit card. Paying on time and keeping low balances will keep your good credit standing ...good. Not paying on time and having the balance close to the credit limit will decrease your credit score dramatically Having a lot of credit cards is not good either be (MORE)

What credit cards can you get with a score of 524?

Assuming your asking about Credit Cards, you would probably only qualify for secured credit cards. You would need to put down a deposit equal to the credit limit on the card. If you want an unsecured credit card, one where a deposit is not required, you will have to fix your credit and improve your (MORE)

What is a sub prime credit score and it is 640?

sub prime credit score refers to a credit score which is below the national average. According to a 2011 Experian study, the average score in the USA is 687. So, anything under 687 is considered sub prime.

What credit card can you get with a 576 credit score?

The selection of cards you may qualify for with that score may depend on your locality, but typically secured credit cards are the most likely cards you can get. There are several unsecured cards you may qualify for with subprime terms, yet these cards might have unfavorable terms.

What credit cards are available to applicants with poor credit scores?

There are a number of credit cards available to applicants with poor credit scores. The top credit card in the UK available is an Aqua classic card which can be applied for by applicants with very low credit scores. Also available are Aquis visa cards, Barclaycards initial cards, Capital One progres (MORE)

How do credit cards influence credit scores?

If you use the card sensibly... by paying off any purchasesquickly, and don't need to increase your limit (unless thecard-issuers offers it) - using credit cards properly is a greatway to boost your credit score. If you use it responsibly - itshows potential creditors that you are a trust-worthy pro (MORE)

When you get your first credit card what is your credit score?

If you've never held a credit card, your initial credit score willdepend on how promptly you have paid any utility bills held in yourname, and the length of time you've been at your current address.It will also depend on whether you've ever had any Count CourtJudgements (CCJs) agains your name. If y (MORE)