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

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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.

Given by the Credit Information Bureau (India) Limited (CIBIL), this score ranges from 300 to 900, with 300 being the lowest and 900 being the highest. This score is based on our past credit history and repayment behaviour.

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.

Lenders generally see those with credit scores 670 and up as acceptable or lower-risk borrowers. Those with credit scores from 580 to 669 are generally seen as “subprime borrowers,” meaning they may find it more difficult to qualify for better loan terms.

What is the lowest credit limit you can have? ›

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.

The primary credit scoring models are FICO® and VantageScore®, and both are equally accurate. Although both are accurate, most lenders are looking at your FICO score when you apply for a loan.

Your credit score is a significant factor determining your eligibility for a personal loan since it is a collateral-free loan. The minimum CIBIL score for a personal loan is between 720 and 750. Having this score means you are creditworthy, and lenders will approve your personal loan application quickly.

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).

Your credit score is a major factor in whether you'll be approved for a car loan. Some lenders use specialized credit scores, such as a FICO Auto Score. In general, you'll need at least prime credit, meaning a credit score of 661 or up, to get a loan at a good interest rate.

A 300 credit score can be a sign of past credit difficulties or a lack of credit history. Whether you're looking for a personal loan, a mortgage or a credit card, credit scores in this range can make it challenging to get approved for unsecured credit, which doesn't require collateral or a security deposit.

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.

Your score falls within the range of scores, from 0 to 600, that is considered very poor. A 200 CIBIL Score is a significantly below the average credit score.

Having no credit is better than having bad credit, though both can hold you back. Bad credit shows potential lenders a negative track record of managing credit. Meanwhile, no credit means lenders can't tell how you'll handle repaying debts because you don't have much experience.