Credit
- 620+ is a well-qualified applicant
- 600+ is often acceptable
- Payment history for the past 2 years will be closely evaluated
- Credit items that show you’ve been unable to maintain your daily living expenses, such as payday loans, delinquent phone or utility accounts, etc., can be red flags.
- 500-599 – will typically require an increased security deposit if approved
- Below 500 – may not qualify, or will have a higher increased security deposit
Unsure of your score? Try one of these links.
Additional Credit Resources
Credit Tips to Help You Strengthen Your Financial Profile
1. Make on‑time payments a priority
Your payment history is one of the biggest factors in your credit score. Try to pay every bill by its due date, even if you can only manage the minimum payment. If you’re struggling to keep up, reach out to the lender early — many are willing to offer temporary arrangements or flexible options.
2. Keep your credit usage low
How much of your available credit you use also plays a major role in your score. Aim to keep balances well below your limits — many financial professionals suggest staying under 30% on each card. Using less shows lenders you’re managing credit responsibly.
3. Consider a secured credit card
If you’re building credit for the first time or rebuilding after accounts were closed, a secured card can help. You put down a refundable deposit, and that amount becomes your credit limit. From there, the card works like any other: use it for small purchases and pay it off consistently to build positive history.
4. Look into a credit‑builder loan
Credit‑builder loans are designed specifically to help you establish or improve credit. They’re often offered by credit unions or community banks. Instead of receiving the loan upfront, the lender holds the funds while you make monthly payments. Once the loan is paid in full, the money is released to you — and your on‑time payments are reported to the credit bureaus.
5. Become an authorized user
If someone close to you has a strong credit history and is comfortable adding you to their credit card as an authorized user, it can give your credit profile a boost. Their positive payment history may be added to your credit report, helping you build credit without taking on new debt yourself.
6. Use a co‑signer carefully
Another option is applying for a loan or credit card with a co‑signer. This can help you qualify if your credit is limited or recovering. Just remember: the co‑signer is equally responsible for the debt. If payments are missed, it affects both of your credit profiles.
