635 Credit Score
Is 635 a good credit score? Credit card & loan options. How to improve a 635 credit score.
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A credit score of 635 isn’t “good.” It’s not even “fair.” Rather, a 635 credit score is actually considered “bad,” according to the standard 300 to 850 credit-score scale.
Such a score will make it difficult to get approved for a decent loan or line of credit and could even prevent you from renting an apartment or landing certain jobs. It also figures to cost you thousands of dollars each year compared to someone with a score just 65 points higher, which is the start of good credit.
Below, you can learn more about the types of things that bad credit prevents you from doing as well as the most common age, income level and credit history for someone with a score of 635. But first, make sure to check your latest credit score for free on WalletHub. Credit scores can change a lot over a short period of time, and WalletHub is the only site that offers free credit scores that are updated on a daily basis. Who knows? Maybe your score is even higher than you think.Check Your Latest Credit Score – 100% Free
What Does a 635 Credit Score Get You?
|Type of Credit||Do You Qualify?|
|Any Credit Card||NO|
|No-Annual-Fee Credit Card||YES|
|Big Initial Credit Card Bonus||NO|
|Credit Card with 0% Financing||YES|
|No-Foreign-Fee Credit Card||YES|
|Favorite Store’s Credit Card||YES|
|Airline/Hotel Credit Card||NO|
|Best Mortgage Rates||NO|
|Auto Loan with 0% Intro Rate||NO|
|Lowest Auto Insurance Premiums||NO|
Tip: The best way to begin rebuilding bad credit is to place a down payment on a secured credit card. The deposit reduces the issuer’s risk, making it possible to get approved no matter how low your score might be.
You can try a credit card for people with fair credit first, but if you don’t get approved, go the secured-card route. Repeatedly getting rejected will result in multiple hard inquiries on your credit report and only make rebuilding harder.
Here are the best credit cards for a 635 credit score:
Capital One® Secured Mastercard®
Discover it® Secured
OpenSky® Secured Visa® Credit Card
Harley-Davidson® Secured Credit Card
Citi® Secured Mastercard®
|Rewards Rate||N/A||1 - 2% Cash Back||N/A||1 point / $1||N/A|
|Purchase Intro APR||Not Offered||Not Offered||Not Offered||Not Offered||Not Offered|
|Transfer Intro APR||Not Offered||10.99% for 6 months|
Transfer Fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
|Not Offered||Not Offered||Not Offered|
|Regular APR||26.99% (V)||25.24% (V)||19.64% (V)||25.24% (V)||24.74%* (V)|
|Editors’ Rating||5.0 / 5||5.0 / 5||4.0 / 5||5.0 / 5||4.6 / 5|
|Details, Rates & Fees||Learn More||Learn More|
Rates & Fees
|Learn More||Learn More||Learn More|
How to Improve a 635 Credit Score
The best approach to improving a 635 credit score is to check the Credit Analysis page of your free WalletHub account. This will tell you what problem areas to focus on and how to correct them. If your grades are similar to those earned by the average person with a 600 credit score, improving your credit utilization and paying your bills by the due date every month should be among the first orders of business.
There are four ways to improve your credit utilization, which refers to how the balances listed on your credit card statements each month compare to the credit limits for those accounts. You can spend less, make bigger payments or pay your bill multiple times per month to bring down your statement balances. You can also request higher credit limits, but that’s harder for you to control.
On-time payments are important because your payment history accounts for a lot of your credit score, and success in this area is directly within your control. The best approach is to set up automatic monthly payments from a bank account. This will at least save your score from taking a hit just because you lose track of time.
Below, you can get a feel for how your credit analysis might look as well as what your other top credit-improvement priorities might be.
635 Credit Score – Sample Scorecard:
- Payment History: D = Less than 98% on-time payments
- Credit Utilization: C = 10% - 29% utilization
- Debt Load: B = 0.36 - 0.42 debt-to-income ratio
- Account Age: B = Average loan / line of credit is 7 - 9 years old
- Account Diversity: C = 2 account types or fewer than 5 total accounts
- Hard Credit Inquiries: A = Fewer than 3 in past 24 months
- Collections Accounts & Public Records: B = 1 collections account / public record
No matter what your credit score is, it’s also a good idea to regularly review your credit report for errors and dispute any you find. Doing that and signing up for a free 24/7 credit monitoring service will help keep you and your credit score safe.
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