The best credit card offers are extended to consumers with excellent credit. If you don’t have excellent credit or are just starting to build or rebuild your credit, there are still some options that may work for you. Here’s how to qualify for a credit card with a 600 credit score.
What Does a 600 Credit Score Mean?
Credit scores range from 300-850 and are meant to give potential lenders an idea of how likely you are to repay borrowed money. Higher credit scores mean a high degree of creditworthiness and a low risk for lenders. Scores over 800 are considered excellent, and scores between 740 and 799 are very good. Scores between 670 and 739 are considered good and scores under 580 are poor. If your score falls between 580 and 669, that’s usually categorized as fair.
Credit Cards for Consumers with Fair Credit
With a 600 credit score, your credit will be considered fair by most lenders. That means you may be able to be approved by some companies at a higher than optimum interest rate. Some types of cards that you may qualify for include:
- Secured credit card – A great way to rebuild credit is with a secured credit card. You’ll need to provide a security deposit, and the amount of the deposit will probably be the amount of your credit line. This gives you an opportunity to begin building a history of on-time payments at no risk to the lender, who can keep your security deposit if you fail to pay as agreed.
- Retail store card – Cards from retail stores are often easier to qualify for than other types of cards. These cards can usually only be used at the store that issued them, and the interest rate may be high.
- Student credit card – If you’re a college student, you may be able to get a student credit card. Creditors understand that college students are just starting out and are trying to build a credit history from zero.
There are some credit card companies that may approve your application for a card with a 600 credit score. Pay attention to the terms you’re agreeing to, such as the interest rate and whether there are any fees. There may be an annual fee or other hidden fees, especially if your credit isn’t great.
Improving Your Credit Score
When you’re trying to build or rebuild your credit history, the most important thing to do is make all your payments on time. If you have any accounts that are past due, get them caught up. If you have credit card debt, work on paying it down and lowering your credit utilization rate.
Check your credit report to make sure there are no errors on it. Errors on credit reports are more common than you may think. If you find any errors, Dovly can help you dispute them. Dovly is an AI credit engine that tracks and manages credit. Try it risk-free with our free membership tier. Contact Dovly today.
