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

  • A 659 credit score is considered "fair" and can limit loan options and interest rates.
  • Identifying issues like missed payments and high balances can help improve your score.
  • Call The Credit Pros for personalized solutions that can potentially boost your score and enhance your credit health.

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A 659 credit score sits in the "fair" category. This score can make it tough to secure loans or get good interest rates. It's important to figure out why your score is where it is. Common culprits include missed payments, high credit balances, and not having a mix of credit. Tackling these issues can boost your score.

To improve your 659 credit score, pay your bills on time, keep your credit utilization below 30%, and dispute any mistakes on your credit report. Following these steps can lead to a score jump of 100-150 points in just a few months. You might also look into credit builder loans or become an authorized user on someone else's account who uses credit responsibly.

For personalized help, call The Credit Pros. We’ll check your entire 3-bureau credit report and offer solutions tailored to your situation. Don’t wait—take charge of your credit today!

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    Why Is My Credit Score Only 659?

    Your credit score is only 659 because it falls within the "fair" credit range, indicating you are viewed as a higher-risk borrower. Various factors likely contribute to this score. You may have some late or missed payments in your payment history. High credit card balances in relation to your credit limits can also hurt your score. Additionally, a shorter credit history or recent inquiries can negatively impact it.

    To improve your credit score, you should focus on these actionable steps:
    • Always pay bills on time to build a positive payment history.
    • Reduce credit card balances to keep your credit utilization ratio below 30%.
    • Avoid opening new credit accounts unless absolutely necessary, as applications can slightly reduce your score.
    • Regularly review your credit report for errors and dispute any inaccuracies.

    Many people have a score of 659, but you can take steps to raise yours. If you're interested in learning about loans or credit cards that fit your score, check out later sections of this article for tailored insights.

    To put it simply, you should pay your bills on time, lower your credit card balances, avoid unnecessary credit inquiries, and check your credit report for errors. These steps can help you boost your credit score and improve your financial standing.

    5 Best Ways To Boost A 659 Credit Score?

    To effectively boost your 659 credit score, follow these five strategies:

    • Pay Your Bills on Time: Consistently making on-time payments has the most significant impact on your credit score. Set reminders or automate your payments to avoid missed deadlines.

    • Reduce Your Credit Card Balances: Keep your credit utilization below 30% of your available credit. Reducing existing balances will help improve your score significantly.

    • Limit New Credit Applications: Each new credit application can temporarily lower your score. Apply for new credit only when necessary and keep an eye on your current accounts.

    • Check Your Credit Reports for Errors: Obtain free credit reports from the three major bureaus. Review them carefully for inaccuracies and dispute any errors you find to ensure your score reflects your true creditworthiness.

    • Use Experian Boost: This tool allows you to add eligible utility and telecom payments to your credit file, potentially raising your score almost instantly.

    In short, paying bills on time, managing credit card balances, limiting new applications, checking for errors, and using Experian Boost can significantly raise your credit score. You have the power to improve your credit standing.

    Major Factors That Keep My Fair Credit Score Low?

    Major factors that keep your fair credit score low include several key elements. First, your payment history plays a significant role, accounting for about 35% of your score. If you miss payments or make late payments, your score takes a hit. Always pay your bills on time to maintain a strong score.

    Another important factor is your credit utilization ratio. This ratio shows how much credit you use compared to your total credit limit and influences about 30% of your score. Keeping your utilization below 30% can help you signal lower risk to lenders.

    The length of your credit history also matters. A shorter credit history can lead to a lower score, as lenders prefer to see a reliable payment track record over many years.

    Additionally, a high number of recent credit inquiries can negatively affect your score. Each time you apply for new credit, it generates a hard inquiry, which might temporarily lower your score.

    Lastly, the diversity of your credit accounts is essential. A limited mix of credit types-like only having credit cards and no installment loans-can harm your score. Aim for a healthy mix of different credit types.

    To finish, focus on maintaining timely payments, keeping your credit utilization low, extending your credit history, limiting inquiries, and diversifying your credit accounts. By doing so, you can work towards improving your credit score.

    How Long To Improve My 659 Credit Score 100-150 Points?

    To improve your 659 credit score by 100-150 points, expect it to take several months to a few years based on your actions. Here are key steps you can take:

    • Pay Your Bills on Time: This crucial habit boosts your score since payment history makes up 35% of it. Consistent, timely payments lead to considerable improvements.

    • Reduce Your Credit Utilization Ratio: Aim to use less than 30% of your available credit. Lowering your credit card balances shows results, typically within 30-45 days as updates reflect.

    • Address Any Inaccuracies: Dispute errors on your credit report. Fixing these can quickly elevate your score, often within 30 days after resolution.

    • Eliminate Derogatory Marks: If you have late payments or accounts in collections, pay these off. Their negative impact diminishes over time, but quick resolution is beneficial.

    • Consider Credit Builder Loans or Secured Credit Cards: These options foster positive credit history.

    Your timeline will vary based on your situation and diligence in taking these steps. Regularly check your credit score to monitor your progress. In essence, focus on timely payments, reducing debt, correcting inaccuracies, and building positive credit habits to significantly boost your score.

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

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    Can I Realistically Get A Mortgage With A 659 Credit Score?

    Yes, you can realistically get a mortgage with a 659 credit score. Lenders usually consider scores starting at 620, so your score falls within an acceptable range for most mortgage programs. Here’s what you should know:

    • Mortgage Options: You might qualify for various types of loans like FHA, USDA, or possibly VA loans.

    • Higher Interest Rates: Be prepared for higher interest rates than borrowers with better scores, as lenders view a 659 score as somewhat riskier.

    • Lender Variation: Not every lender will approve your application. Some may have stricter criteria, but others might be more lenient.

    • Down Payment: A larger down payment can enhance your chances of approval. Consider saving more to demonstrate your commitment to managing debt.

    • Credit Improvement: You can improve your score before applying. Focus on paying down existing debts and making timely payments.

    To wrap up, you can secure a mortgage with a 659 credit score by exploring various loan options, being prepared for higher rates, and taking steps to improve your credit. Compare lenders and focus on enhancing your financial profile for the best outcome.

    Can I Get A Personal Loan With A 659 Credit Score?

    Yes, you can get a personal loan with a 659 credit score. This score falls into the "fair" category, which means some lenders will consider your application. However, your options may be limited, and you might face higher interest rates than borrowers with better scores.

    Here are key points to keep in mind:

    • Since your score is below the "good" range of 670, lenders may see you as a higher risk.

    • Expect to pay higher interest rates on your personal loan. These rates could be significantly more than those for individuals with higher credit scores.

    • Lenders have varying requirements. Some may approve loans for scores as low as 580, while others may set higher thresholds.

    • Seek lenders that specialize in loans for those with fair credit. Many focus on consumers like you, offering terms that are more manageable.

    • Compare rates from multiple lenders. Each lender may evaluate your financial history differently, even with the same credit score.

    On the whole, you can get a personal loan with a 659 credit score, but aim to improve your credit before applying. Focus on reducing debt, making timely payments, and avoiding new credit inquiries in the months leading up to your application.

    Can I Buy Or Lease A Car With A 659 Credit Score?

    Yes, you can buy or lease a car with a 659 credit score. This score is considered fair, which may limit your options and affect your terms. Different lenders and dealerships have varying requirements. Typically, a score below 660 can lead to less favorable lease terms and potentially higher interest rates if you choose to buy.

    Many dealerships set a minimum score around 620 for leasing. With a 659 score, you still have a good chance of approval but might face higher costs. Expect to pay more in interest and possibly a security deposit.

    When shopping for a vehicle, consider these steps:
    • Look for dealerships that specialize in fair credit financing.
    • Be prepared to negotiate terms based on your credit score.
    • Consider improving your score before applying by paying down credit card balances and ensuring timely bill payments.

    By taking these actions, you can enhance your chances of getting better financing options. Bottom line, while a 659 credit score presents some challenges, you still have paths available to buy or lease a car. Explore your options and take proactive steps to strengthen your financial position.

    Credit Card (Secured Or Unsecured) Options With A 659 Credit Score?

    You can find credit card options if you have a 659 credit score, which falls into the fair category. You have both secured and unsecured credit card choices available.

    Secured cards are usually easier to obtain because they require a deposit that acts as your credit limit. A popular option is the Capital One Platinum Secured Credit Card, where you may need to deposit as little as $49 to qualify for a $200 credit limit. Plus, it has no annual fee.

    For unsecured cards, consider options like the Credit One Bank Platinum Visa. This card can earn you 1% cash back on specific purchases, though it often carries an annual fee. Make sure to compare costs and features when exploring various offers.

    To improve your chances of approval, target starter credit cards or store cards designed for individuals with fair credit. While you can get approved, be aware that the terms might not be as favorable as those for individuals with higher credit scores.

    In a nutshell, you have options for both secured and unsecured credit cards at a 659 credit score. Focus on comparing features, consider applying for cards designed for fair credit, and manage your credit responsibly to improve your score over time.

    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?

    Deciding if you should become an authorized user with a fair credit score of 659 can be beneficial. By being added to a well-managed credit card, you can potentially boost your credit score. This helps improve your credit utilization and length of credit history, which are both important factors in credit scoring.

    You need to consider the primary user's credit habits. If they have a strong history of on-time payments, this can positively impact you. However, if the primary user misses payments or has high credit utilization, it may harm your credit score. It’s also crucial to verify whether the credit card issuer reports authorized user activity to credit bureaus, as this affects your ability to build credit.

    Keep in mind that lenders may not view the credit gained as an authorized user as valid unless linked to a responsible primary cardholder. Therefore, while becoming an authorized user can help, ensure you understand the potential risks involved.

    To improve your credit score further, consider exploring strategies like:
    • Researching ways to boost a 659 credit score.
    • Negotiating and paying off debts to improve your fair credit score.
    • Understanding how credit utilization impacts your overall credit health.

    All in all, becoming an authorized user can be advantageous if the primary cardholder practices good credit habits. Just make sure you weigh the risks and benefits carefully.

    Which Negative Marks On My Credit Report Affect My 659 Score?

    Negative marks on your credit report that affect your 659 score include late payments, collections, bankruptcies, and hard inquiries. Each of these impacts your score in specific ways:

    • Late Payments: If you pay a bill more than 30 days late, it gets reported and can significantly decrease your score. This is the most impactful negative mark.

    • Collections: Accounts sent to collections, particularly if unpaid, can severely hurt your score, indicating to lenders that you may struggle with managing debt responsibly.

    • Bankruptcy: A bankruptcy remains on your report for up to 10 years and is one of the most damaging marks, leading to a substantial drop in your score.

    • Hard Inquiries: Hard inquiries happen when a lender checks your credit as part of a loan application. Each hard inquiry can lower your score by up to 5 points, especially if multiple inquiries occur in a short period.

    Understanding these factors is crucial for you to see how to improve your score over time. The gist of it is to focus on timely payments, avoid collections, manage your debts wisely, and limit hard inquiries to enhance your credit score effectively.

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

    Yes, you should negotiate and pay off debts to improve your fair credit score. Taking action to settle your debts reduces your overall debt burden and may lower your credit utilization ratio, which is crucial for your score. Just be aware that debt settlement can negatively impact your credit score in the short term.

    When you negotiate a debt settlement, creditors might forgive a portion of your debt, so you pay less than what you initially owed. While this reduces your total debt, it usually results in a "settled" status on your credit report that can last for seven years. This is not as favorable as having accounts marked as "paid in full."

    You can negotiate directly with creditors or work with a debt settlement company. If you choose a for-profit company, be cautious about high fees, as they can harm your credit score more than negotiating on your own. If you are behind on payments, creditors may be more willing to negotiate.

    Overall, while negotiating and settling debts can help you manage your finances, consider the short-term negative impact on your credit score against the long-term benefits of being debt-free. Remember, weigh your options carefully and focus on strategies that empower you to improve your credit while managing your debts effectively.

    Best Site To Monitor My Credit Report?

    The best site to monitor your credit report is AnnualCreditReport.com. This site is authorized by the federal government to provide free yearly credit reports from the three major credit bureaus: Equifax, Experian, and TransUnion. You can request a report from each bureau once a year at no cost.

    You should also consider CreditWise from Capital One. This service offers free credit monitoring, alerts for changes in your credit report, and dark web scanning to help protect against identity theft. You don’t need to be a Capital One customer to access it.

    Another strong option is Experian's free service. You can access your credit report, receive alerts about suspicious activity, and use Experian Boost to potentially raise your FICO score by including positive payment history.

    Staying informed about your credit health is essential, especially if your score is around 659. Monitoring your credit report helps you detect inaccuracies or potential fraud early.

    At the end of the day, use these resources to keep track of your credit and empower yourself in making sound financial decisions.

    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?

    Yes, you should consider a credit builder loan with fair credit. These loans help you improve your credit score by allowing you to make consistent, on-time payments that lenders report to major credit bureaus. Since payment history makes up 35% of your credit score, timely payments can positively impact it.

    You typically don’t need a good credit score to qualify. Most lenders focus more on your income and employment history. You’ll likely start with a small loan between $300 and $1,000, spanning 6 to 24 months. You make monthly payments, and at the end of the term, you access the funds.

    However, be cautious. If you miss a payment or pay late, it can hurt your credit score. Choose a loan with a payment plan that fits your budget to avoid this risk. Additionally, shop around for lenders that report to all three credit bureaus to maximize your credit-building potential. If you’re also considering options like secured credit cards, those can complement your efforts too.

    Lastly, we advise you to take advantage of credit builder loans to boost your credit score while managing your repayments wisely.

    Is A 659 Credit Score Different Between Fico And Vantage

    Yes, a 659 credit score can differ between FICO and VantageScore systems. Both scoring models range from 300 to 850, but they emphasize different factors. For instance, FICO weights payment history at 35% of your score, while VantageScore gives it a 41% weight.

    This difference means that lenders may view a 659 score differently based on the model used. Generally, both scores categorize a 659 as "fair" credit. However, lenders may have specific cutoffs for approval depending on the scoring system, which can affect your chances of getting credit.

    Additionally, both models regularly update to reflect changes in consumer behavior and credit industry practices. Therefore, it’s crucial for you to know which model a lender uses when assessing your creditworthiness. If you have a score of 659, we encourage you to check both your FICO and VantageScore to get a clearer picture of your credit position.

    Finally, understanding the differences in scoring models and knowing your scores helps you navigate credit applications with more confidence.

    Does A 659 Credit Score Affect My Chances Of Renting An Apartment?

    A 659 credit score can affect your chances of renting an apartment, but it doesn't automatically disqualify you. Many landlords prefer scores above 650, so you might encounter more scrutiny during your application.

    Landlords generally review your overall credit history, not just your score. If you demonstrate timely payments and lack major defaults, you strengthen your application. Some landlords may even overlook a lower score if you provide strong proof of financial stability, like a steady income or references from previous landlords.

    Before applying, check your credit report to ensure no negative marks could raise red flags. If your score is a concern, you can enhance your application by offering a larger security deposit or using a co-signer with a better credit score.

    Big picture: A 659 credit score may pose challenges when renting, but with the right presentation and proof of reliability, you can improve your chances of securing an apartment.

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

    Yes, a credit repair company can boost your fair credit score, but there are some important details to know. A legitimate credit repair company helps you correct inaccuracies in your credit report. If you have errors, they can assist in disputing them, which might improve your score. However, they cannot remove accurate negative information like late payments or bankruptcies.

    Choose a reputable credit repair service, as many scams exist in this industry. A trustworthy company will review your credit report, pinpoint inaccuracies, and guide you through the dispute process. Remember, you can also tackle this yourself at no cost.

    Your fair credit score, such as 659, may limit your options. Effective credit repair can open doors to better loans and terms. However, no service can promise quick fixes or guaranteed results. The best approach includes understanding your credit history, paying bills on time, and managing debt wisely.

    If you're interested in DIY methods, we recommend exploring topics like how long it takes to improve a credit score or major factors affecting your score.

    Overall, consider working with a reputable credit repair company to address inaccuracies on your report and take charge of improving your score. You have the power to boost your credit by being proactive in managing your credit history.

    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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