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633 Credit Score: Is It Good Or Bad (+ Can I Fix It)?

  • A 633 credit score is considered "fair," limiting access to loans and credit options.
  • Improving your score requires understanding negative factors and implementing strategic actions.
  • Call The Credit Pros for personalized guidance to potentially improve your credit score and take control of your financial future.

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A 633 credit score sits in the "fair" category, which means lenders see a moderate risk. This score can limit your options and make it harder to get loans, credit cards, or good mortgage terms. Understanding why your score is low, like missed payments or high credit utilization, is key to making improvements.

To boost your score, make on-time payments, keep your credit utilization below 30%, and mix up your credit types. Check your credit report regularly for errors and dispute any inaccuracies you come across. If you stick to these strategies, you can often improve your score by 100-150 points in just 30 to 90 days.

For personalized help, call The Credit Pros. We’ll review your credit report and give you tailored advice that fits your situation. Don’t let a fair score hold you back—let’s team up and improve your credit health today!

On This Page:

    Why Is My Credit Score Only 633?

    Your credit score of 633 is considered fair, and lenders see you as a moderate-risk borrower. Several factors affect this specific score:

    1. Payment History (35%): If you have late or missed payments, they can significantly reduce your score. Consistently paying bills on time is crucial to avoid this negative impact.

    2. Credit Utilization (30%): This measures your credit card balances against your credit limits. Aim to keep your utilization below 30% because high balances can lower your score.

    3. Length of Credit History (15%): The age of your credit accounts affects your score. A shorter credit history can be detrimental since lenders prefer established credit patterns.

    4. Types of Credit Accounts (10%): A mix of credit types, like revolving credit cards and installment loans, helps improve your score. Relying on only one type of credit may limit your score’s growth.

    Additionally, recent applications for new credit or changes in your credit limit can cause fluctuations in your score. Understanding these factors is key to improving your credit standing over time.

    The gist of it is this: Focus on timely payments, keep your credit utilization low, diversify your credit types, and be mindful of the length of your credit history to improve your score. You’ve got this!

    5 Best Ways To Boost A 633 Credit Score?

    To boost your 633 credit score, you can implement these five effective strategies:

    • Make On-Time Payments: Your payment history plays a crucial role in your score. Set up autopay for at least the minimum payment to avoid missing due dates.

    • Reduce Credit Utilization: Keep your credit utilization below 30%. Pay down existing balances or make multiple payments each month to help achieve this.

    • Check Your Credit Report Regularly: Get free copies of your credit reports and look for errors. Dispute any inaccuracies, as they can hurt your score.

    • Limit New Credit Applications: Each application can lower your score. Be selective about applying for new credit, especially with a lower score.

    • Consider Using a Secured Credit Card: If you have trouble getting approved for a traditional credit card, a secured card could help. Your deposit lowers the lender's risk and builds positive credit history.

    Remember, by making timely payments, reducing your credit utilization, checking your credit report for errors, limiting new applications, and possibly using a secured card, you can effectively boost your credit score and enhance your financial opportunities.

    Major Factors That Keep My Fair Credit Score Low?

    Several major factors keep your fair credit score low. Understanding these factors helps you take targeted actions to improve your score.

    • Payment History: This accounts for about 35% of your credit score. If you miss payments, even by just a few days, it negatively impacts your score. Always pay every bill on time. You can set up autopay to avoid late payments.

    • Credit Utilization: This represents around 30% of your score. It measures how much of your available credit you are using. Keep your utilization below 30%. If you exceed this limit, it could lower your score, even if you pay your bills in full each month.

    • Length of Credit History: This factor weighs in at about 15% of your score. A short credit history may lower your score. Keep your oldest credit card open to help lengthen your credit history.

    • Types of Credit: A mix of different credit accounts, like credit cards and loans, contributes positively, accounting for about 10% of your score. A diverse credit profile showcases your credit management skills.

    • New Credit Accounts: Each time you apply for new credit, a hard inquiry appears on your report, which can lower your score. Limit how often you apply for new credit.

    By focusing on these specific areas, you can improve your fair credit score over time. At the end of the day, prioritize timely payments, manage your credit utilization, maintain a longer credit history, diversify your credit types, and be cautious with new credit applications to enhance your score.

    How Long To Improve My 633 Credit Score 100-150 Points?

    Improving your 633 credit score by 100-150 points can take anywhere from 30 to 90 days, depending on your specific situation. However, results vary for everyone.

    To achieve a significant boost, focus on these key strategies:

    • Pay down revolving debt: Reduce your credit card balances to improve your credit utilization ratio. Aim for 30% or lower.

    • Make timely payments: Set reminders or automatic payments to ensure you never miss a payment.

    • Address negative items: Check your credit report for inaccuracies and dispute any errors you find.

    • Establish a good credit mix: If you only have credit cards, consider adding an installment loan for diversity.

    Patience is essential, as the timeline for improvements hinges on your credit history specifics. You might not see changes until creditors report updates to credit bureaus, usually within 30 days after changes.

    Lastly, for your journey to a better credit score, focus on reducing debt, making timely payments, correcting errors, and diversifying your credit mix. You've got this!

    Inaccuracies hurting your Credit Score?
    Securely review your full 3-bureau Credit Report (with a real expert).

    By clicking ‘Get Started’ I agree by electronic signature to: (1) be contacted by The Credit Pros by a live agent, artificial or prerecorded voice, and SMS text at my residential or cellular number, dialed manually or by autodialer even if my phone number is on a do-not-call registry (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use.

    Can I Realistically Get A Mortgage With A 633 Credit Score?

    Yes, you can realistically get a mortgage with a 633 credit score. Though it's considered "fair" credit, options are available. FHA loans are favorable, requiring a minimum score of 580 and just 3.5% down. Conventional loans typically require at least a score of 620.

    With this score, lenders view you as a higher-risk borrower. You may face higher interest rates and stricter income and employment requirements. Your overall financial profile matters too, including your debt-to-income ratio and job stability.

    You should shop around with different lenders. Some may have more lenient criteria than others. Don’t hesitate to ask about specific requirements and areas for improvement in your application. If you proactively strengthen your financial position, your chances of securing a mortgage can significantly improve.

    Finally, explore various ways to boost your credit score and understand how negative marks affect your credit report. This can help you feel more confident and prepared as you navigate the mortgage process.

    Can I Get A Personal Loan With A 633 Credit Score?

    You can get a personal loan with a 633 credit score. This score is in the "fair" range, indicating that lenders may see you as a higher-risk borrower. However, securing a loan is still possible. Here are some steps you can take:

    • Improve Your Credit Profile: Check for errors on your credit report. Disputing inaccuracies can help boost your score.

    • Manage Existing Debts: Pay down credit card balances to reduce your credit utilization. This move can positively impact your overall score.

    • Be Mindful of Loan Amounts: Determine how much you actually need. This demonstrates to lenders that you are financially responsible.

    • Choose the Right Lender: Approach lenders where you have an existing relationship. They might be more willing to approve your loan.

    • Explore Alternative Options: If traditional lenders decline, consider online lenders that cater to borrowers with fair credit scores. They may provide more favorable terms.

    Big picture, focus on improving your credit, managing debts wisely, and selecting the right lender to increase your chances of securing a personal loan. You’ve got this!

    Can I Buy Or Lease A Car With A 633 Credit Score?

    Yes, you can buy or lease a car with a 633 credit score, but expect some challenges. A score of 633 is typically classified as "fair" or subprime, making lenders see you as a higher-risk borrower. This often results in higher interest rates and less favorable lease terms.

    When you apply for a lease, lenders look at factors beyond your credit score. Your employment history, income, and debt-to-income ratio also matter. A lower debt-to-income ratio can help strengthen your application.

    While you can still secure a lease, be prepared for higher monthly payments. Typically, an average credit score of around 733 is needed for better lease terms. However, options exist for those with lower scores. You might need to make a larger down payment or accept higher interest rates.

    You can take proactive steps to improve your chances:
    • Check your credit report for errors and dispute them if necessary.
    • Pay down existing debts to lower your debt-to-income ratio.
    • Explore leasing options from dealerships that work with individuals who have fair credit.

    Overall, even with a 633 score, you can negotiate terms and look for leasing companies with more lenient requirements. Be ready to make concessions for approval.

    Credit Card (Secured Or Unsecured) Options With A 633 Credit Score?

    With a credit score of 633, you have several options for secured and unsecured credit cards. Secured cards are usually the best choice since they require a cash deposit as collateral and can help improve your credit score if you pay your bills on time. Here are some good options to consider:

    • Capital One Platinum Secured Credit Card: This card requires a refundable deposit starting at $49 and provides a minimum credit limit of $200.

    • Discover it® Secured Credit Card: This card offers a path to upgrade to an unsecured card and allows you to earn cash back on your purchases.

    For unsecured cards, you can explore:

    • Credit One Bank® Platinum Visa®: This card is meant for rebuilding credit with a $300 minimum credit line, but it has an annual fee.

    • Milestone® Mastercard®: This is another unsecured option suitable for those with a 633 credit score.

    Keep in mind that unsecured cards often come with higher fees, which may not be ideal for rebuilding credit. We advise you to evaluate secured card options first, as they typically have higher approval odds and lower costs.

    As a final point, remember that managing your payments responsibly with any card, whether secured or unsecured, is essential for improving your credit score.

    Inaccuracies hurting your Credit Score?
    Securely review your full 3-bureau Credit Report (with a real expert).

    By clicking ‘Get Started’ I agree by electronic signature to: (1) be contacted by The Credit Pros by a live agent, artificial or prerecorded voice, and SMS text at my residential or cellular number, dialed manually or by autodialer even if my phone number is on a do-not-call registry (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use.

    Should I Become An Authorized User With A Fair Credit Score?

    Yes, you should consider becoming an authorized user if you have a fair credit score, like 633. By doing this, you can take advantage of someone else's positive credit history. If the primary cardholder maintains on-time payments and low balances, your credit score may improve over time.

    Choose the right person to help you. It’s essential to become an authorized user on an account held by someone with a good credit score who manages their credit responsibly. If they miss payments or have high balances, it can negatively affect your credit score.

    Becoming an authorized user doesn't require a credit check, making it accessible for you. The primary cardholder's credit utilization and payment history will likely be reported to credit bureaus, helping you build credit as they do.

    Evaluate the primary cardholder's credit habits before moving forward. Maintain clear communication to create a healthy credit environment.

    To put it simply, if you find a responsible cardholder and stay informed about their credit habits, this option can help improve your credit score over time.

    Which Negative Marks On My Credit Report Affect My 633 Score?

    Negative marks on your credit report that impact your 633 score include several key factors.

    You should be aware that missed payments are particularly significant. If you pay a bill late-especially over 30 days-it can leave a mark for up to 7.5 years. This is crucial since payment history accounts for about 35% of your FICO score.

    Charge-offs also seriously affect your score. When a lender labels an account as a charge-off, it is considered a loss and can remain on your credit report for 7 years.

    Collections accounts can further lower your score. If you let an unpaid bill go to collections, this negative mark can linger for another 7 years.

    Bankruptcies hit your credit hard; Chapter 13 stays for 7 years, while Chapter 7 can last up to 10 years.

    Foreclosures also significantly dent your credit score and can stick around for 7 years.

    To improve your score, focus on managing these negative marks: pay your bills promptly, deal with any charge-offs, and settle any collections. Regularly check your credit reports and consider professional help if necessary.

    In short, prioritize timely payments, address charge-offs and collections, and keep an eye on your credit report to maintain and improve your score.

    Should I Negotiate And Pay Off Debts To Improve My Fair Credit Score?

    You should negotiate and pay off debts to improve your fair credit score. Settling debts can enhance your financial standing, but be mindful of drawbacks. When you negotiate a lower amount, creditors may label it as “paid settled,” which can hurt your credit.

    Paying off debts in full is preferable for your credit score. It showcases a responsible repayment history. If you can afford it, always aim to pay the full amount rather than settling for less. Accounts marked as "paid in full" signal reliability to future lenders.

    If full payment isn't possible, negotiating can still provide relief. It may help you stop late payments and minimize further damage. Keep communication open with your creditors to avoid complications.

    Remember, settling debts might initially lower your credit score, but it can lead to better financial health later. Once debts are settled, focus on rebuilding your credit by making timely payments on any remaining debts and maintaining a low credit utilization ratio.

    To finish, we advise you to negotiate if necessary, aim to pay off debts fully, and stay proactive. This approach will strengthen your credit score over time.

    Best Site To Monitor My Credit Report?

    To find the best site to monitor your credit report, consider using AnnualCreditReport.com. This site lets you access your credit report for free once a year from all three major credit bureaus: Experian, Equifax, and TransUnion. It's crucial to use verified sites to keep your data secure.

    You can also explore credit monitoring services like Credit Karma and Experian. These platforms let you view your credit report and provide ongoing updates and alerts about changes affecting your score. They offer tools to help you track your financial health and understand your credit better.

    Additionally, services like NerdWallet allow you to check your credit score and receive alerts on any changes. These alerts help you catch potential fraud early and maintain a healthy credit profile.

    For thorough monitoring, use AnnualCreditReport.com for annual reports and a monitoring service for ongoing updates. Regularly review your credit report for accuracy to boost your overall credit score.

    In essence, use AnnualCreditReport.com for yearly access and choose a monitoring service for continuous updates to help you stay on top of your credit health.

    Inaccuracies hurting your Credit Score?
    Securely review your full 3-bureau Credit Report (with a real expert).

    By clicking ‘Get Started’ I agree by electronic signature to: (1) be contacted by The Credit Pros by a live agent, artificial or prerecorded voice, and SMS text at my residential or cellular number, dialed manually or by autodialer even if my phone number is on a do-not-call registry (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use.

    Should I Consider A Credit Builder Loan W/ Fair Credit?

    Considering a credit builder loan with fair credit, like a score of 633, is a smart choice. These loans help you improve your credit through regular, on-time payments reported to credit bureaus. You don’t need a perfect score to qualify, as lenders often have flexible requirements.

    Before you decide, assess your financial situation. Credit builder loans work well if you lack a credit score or have limited credit history. If you have existing debts, consider paying those down first, as managing them could be more beneficial than taking on a new loan.

    Remember, while credit builder loans can enhance your credit score over time, missing payments can negatively impact it. Make sure you are comfortable with the monthly payments, including any interest and fees, since they add to your total cost.

    You can typically find credit builder loans at community banks, credit unions, or online lenders. Many of these options do not require hard credit checks, but administrative fees may apply, varying by lender.

    To wrap up, if you’re ready to commit to making regular payments and aim to improve your credit score, a credit builder loan could be a great step for you.

    Is A 633 Credit Score Different Between Fico And Vantage

    A 633 credit score is different between FICO and VantageScore systems, despite both using a range of 300 to 850. For both models, a score of 633 falls into the "fair" category.

    The calculation methods vary. FICO looks at factors such as payment history, amounts owed, credit history length, types of credit, and new credit. VantageScore also considers these but may prioritize them differently. This can result in different scores for the same credit history.

    You might notice your FICO score and VantageScore are not the same, even if they are close to 633. This happens often because both models update their scoring criteria based on consumer behavior trends.

    To enhance your financial standing, we advise you to review your credit reports from each bureau. Understanding how these scoring systems work helps you grasp how lenders view your creditworthiness.

    On the whole, knowing the differences between FICO and VantageScore empowers you to take actionable steps to improve your credit score. You can explore methods to elevate your credit score and strengthen your financial future.

    Does A 633 Credit Score Affect My Chances Of Renting An Apartment?

    Yes, a 633 credit score can affect your chances of renting an apartment. Most landlords assess your financial reliability using credit scores. While a score of 633 is considered fair, it may fall short of the typical minimum requirement of 650 for many landlords.

    In a competitive rental market, landlords often prefer applicants with higher scores, believing they present a lower risk of late payments or defaults. Your credit history, including timely payments, plays a vital role in this assessment.

    Keep in mind that some landlords consider additional factors, such as your income and rental history. If the market is less competitive, they may be more flexible with credit score requirements. To improve your chances, focus on boosting your credit score. Address any negative marks on your credit report and ensure you have a steady income and reliable rental history.

    Bottom line - your 633 credit score can impact your rental applications, but by improving your credit score and highlighting your positive financial habits, you can enhance your chances of securing that apartment.

    Can A Credit Repair Company Actually Boost My 'Fair' Score

    Yes, a credit repair company can potentially boost your 'fair' credit score. They identify errors on your credit report and dispute them with the credit bureaus, which can lead to score improvements if the errors are removed.

    However, if your credit report has accurate negative information, such as late payments or charge-offs, no company can legally remove that. A reputable credit repair service focuses on inaccuracies but can't change valid negative details.

    Be cautious of companies that make bold promises to drastically improve your score, as these often turn out to be scams. Always research a credit repair company to ensure they follow federal guidelines and are transparent about their services.

    You can also dispute inaccuracies and repair your credit on your own at no cost. If you decide to hire a service, make sure they have a solid reputation and a clear process for improving your score. We advise you to weigh the potential benefits against the costs before proceeding.

    In a nutshell, while a credit repair company can help improve your 'fair' credit score by addressing errors, you should always verify their legitimacy and consider DIY options.

    Inaccuracies hurting your Credit Score?
    Securely review your full 3-bureau Credit Report (with a real expert).

    By clicking ‘Get Started’ I agree by electronic signature to: (1) be contacted by The Credit Pros by a live agent, artificial or prerecorded voice, and SMS text at my residential or cellular number, dialed manually or by autodialer even if my phone number is on a do-not-call registry (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use.

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