What is the Lowest Possible Credit Score? | Chase (2024)

FAQs

What is the Lowest Possible Credit Score? | Chase? ›

What is the lowest credit score possible? Generally, credit scores range from 300 to 850, making 300 the lowest possible credit score. But it's important to note that you typically have more than one credit score. And they may differ depending on the credit-scoring company and when they were calculated.

What is the lowest credit score possible? Generally, credit scores range from 300 to 850, making 300 the lowest possible credit score. But it's important to note that you typically have more than one credit score. And they may differ depending on the credit-scoring company and when they were calculated.

What is the highest credit score vs. a good or fair credit score? Credit scores typically range from 300 to 850. Within that range, scores can usually be placed into one of five categories: poor, fair, good, very good and excellent.

TransUnion CIBIL

Its scoring system ranges from 300 to 900, with 900 being the highest and 300 being the minimum CIBIL score.

Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.

FICO's industry-specific credit scores have a different range—250 to 900.

There is no official “lowest score” that card issuers will accept because whether you get approved for a card depends on a variety of factors, not just your credit score.

You'll typically need a credit score of 620 to finance a home purchase. However, some lenders may offer mortgage loans to borrowers with scores as low as 500. Whether you qualify for a specific loan type also depends on personal factors like your debt-to-income ratio (DTI), loan-to-value ratio (LTV) and income.

Consumers with scores in this range may be considered subprime borrowers, eligible only for loans with interest rates significantly higher than the best available. Poor: 300 to 579. FICO^® Scores that range from 300 to 579 are considered poor.

What is the lowest credit limit you can have? ›

Terms may apply to offers listed on this page. The credit limit on your credit card determines how much money you can charge. Credit cards can have spending limits as low as $200 -- or as high as $50,000 or more.

Requirements to receive a personal loan

This allows them to look at your history from the past seven years and see whether you've typically made payments on time. For a $30,000 loan, you'll typically need a credit score above 600 just to qualify or above 700 to get a competitive rate.

Most used auto loans go to borrowers with minimum credit scores of at least 675. For new auto loans, most borrowers have scores of around 730. The minimum credit score needed for a new car may be around 600, but those with excellent credit often get lower rates and lower monthly payments.

Some dealerships use a FICO auto score, which ranges between 250–900. Keep in mind this is different from other FICO scoring models, where the lowest score you can get is 300. Generally, the lower your credit score, the higher the annual percentage rate (APR).

You can borrow from $1,000 to $100,000 or more with a 700 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

That's because your credit score doesn't start at zero. In fact, the lowest possible score from FICO® and VantageScore® is 300. But unless you've had some recent trouble with on-time payments or high spending, your score likely won't be that low.

16% of all consumers have FICO^® Scores in the Very Poor range (300-579).

Fortunately, no one's credit score can equal zero – the range for FICO scores is 300-850 – and even people with poor or bad credit have a credit score of at least 300. A “no credit score” means there is insufficient information for a credit score calculator to compute a score.