In today’s credit-sensitive society many people are wondering about their credit score and what does their credit score mean, If you are an individual with a 569 credit score, you may be wondering, is a 569 credit score a good credit score to have? Well, let’s first discuss credit scores, their range, what is a good credit score and what is a bad credit score, and that may help clearly answer the question, is a 569 credit score a good credit score to have.

What are Credit Scores?

A credit score is a three-digit number, usually on a scale of 300 to 850. A credit score estimates the likelihood of you repaying borrowed money and do you have enough cash flow or money you need to pay your bills on time. Your credit score is calculated from information about your credit accounts, who you owe. The data regarding your bills and bill-paying history is gathered by credit-reporting bureaus. The three main credit bureaus are Experian, TransUnion, and Equifax. 

Is a 569 Credit Score a Good Credit Score

What is Considered a High Credit Score?

As mentioned previously, credit scores range from 300 to 850. An 850 credit score is the highest credit score that can be attained, however, creditors generally consider a good credit score to be anything higher than a 680.

What is Considered as a Low Credit Score?

With the lowest credit score possible as a 300, obviously, anything that is remotely close to a 300 is a low credit score. However, there is a range of what would be the highest, low credit score, a credit score is considered low if the score is lower than a 600. A score of 600 is slightly higher than a 569 credit score.

Considered a High Credit Score

Where Does a 569 Credit Score Leave Me?

If you have a 569 credit score, you would be considered as having a POOR credit score. We would immediately suggest that you invest in some sort of credit repair to bring your credit score to a higher level, thus making yourself to be creditworthy for above sub-prime rates.

Can I Buy a Car with a 569 Credit Score?

With a 569 credit score, you would not be considered as a creditworthy individual. You would be subjected to sub-prime interest rates. Chances are, you would be able to purchase a car, with a significant down payment, and with extremely high-interest rates.

Good Credit Score

Can I Buy a House with a 569 Credit Score?