Is a credit score of 638 good or bad? I’m 19 and this is my first credit card.?
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Loading ...Is a credit score of 638 good or bad? I’m 19 and this is my first credit card.?
Question by Mouse
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Answer by SumDude
In the middle. Keep paying your debts on time, and it will go up over time, as you save up money to buy a car or house. {best guess of future purchases for someone your age.} 730+ is up in the good territory.
Those loans (if you pay on time all the time) will also boost your score more. Another type loan in the mix is a personal loan, but that will happen in time.
What do you think? Answer below!
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5 responses for Is a credit score of 638 good or bad? I’m 19 and this is my first credit card.?
Is this a FICO? It ranges from 300 and 850, 723 is the median score. Below 620 is subprime. I’d say it’s an okay score around the C/D range. Just keep on paying all your bills on time, and keep those credit bills under control. Pay on time, pay in full. After a while your credit score will go up.
For a 19 year old this would be considered good since you are just starting out. You will get in the 700s soon, just use your credit card and always pay on time. Your credit will be considered weak, but not bad, given your age. Your score is on the lower side, because you have not yet established a payment pattern. Takes a bit of time. Try keeping your balance under 30% of the total available credit. If you have a $ 1,000.00 limit do not keep a balance of over $ 300.00; that will lowers your score.
A fair score is 620/659, a good score is 660/749. It usually goes up between 5 to 10% per month providing you are paying on time.
Bad. You want to be in high 700s or in the 800s.
If your just beginning, that is not that bad. Keep your balance low and keep paying on time and your score should go up nicely.