Can you get a loan with a credit score of 550?

+1 vote
asked Feb 12 in Other-Finance by Erexx (200 points)
Can you get a loan with a credit score of 550?

Is it possible to get approved for a loan when you have a credit score of 550?

1 Answer

0 votes
answered Feb 12 by Adf289 (25,950 points)
A credit score of 550 is not a really bad credit score but it's bad enough to where you'll likely be unable to get a loan without having someone cosign the loan along with you.

Any loan company is gonna be looking for a credit score of 600 or above before they consider loaning the money out to you without a cosigner.

If you can find someone with a credit score above 600 who will cosign the loan agreement with you then you should be able to get approved for the loan you need.

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