A 570 credit score sits on the cusp between poor and fair credit. It reflects past financial mistakes or a limited credit history. While almost in the fair realm, it will still be difficult to be approved for a loan or credit card with such a poor credit score. Most lenders prefer borrowers with credit scores in the good to excellent range.

Don’t lose hope yet. You can find financial institutions that specialize in lending money to consumers whose credit scores fall in the poor range.

Let’s go over what you can get with a 570 credit score, what this score means, and the steps you can take to build credit.

The best credit cards for a 570 credit score

A 570 credit score credit card will either be a secured card, subprime unsecured card, or store card.

Secured credit card

Secured cards require a security deposit that serves as your limit. The deposit minimizes the risk for the credit card issuer, making them more accessible to applicants with low credit scores. If you opt for a secured card, make sure the issuer reports your payments to all three credit bureaus, as not all do.

Unsecured credit card

Some companies offer unsecured credit cards for 570 credit score. These cards will come with a higher interest rate, an annual fee, and a lower credit limit. Before you go this route, it’s important to read the fine print and make sure you can afford the fees.

Store credit card

Store cards are often easier to qualify for and may offer discounts or rewards. Typically they come with higher interest charges, low limits, and can only be used at the issuing store.

Low score but want a high limit card?

Check out cards with $1,000 limit.

The best 570 credit score personal loan options

The best options for a 570 credit score loan are a secured loan, cash advance, or a personal loan from a credit union.

Secured loans require collateral such as a vehicle, property, or savings account. They have higher approval odds and tend to come with more favorable terms. The amount you’re offered may also be higher depending on the asset you put up as collateral. The catch is, that if you cannot repay as agreed, the lender can seize your asset.

Cash advance apps provide instant cash – usually up to $500 – with no credit check, no interest, and few fees. The amount usually depends on your direct deposit. You don’t have to worry about paying the advance back on time as most apps will debit the amount from your direct deposit. Many will also let you reschedule payments once or twice.

Credit unions should not be overlooked. They often have more flexible lending criteria compared to big banks. Many will approve members with low credit scores at competitive rates. Consumers are likely to find lower interest rates, fewer fees, and may be able to secure a larger amount.

570 credit score car loan

A car loan will be difficult to get but not impossible. Lenders view credit scores in this range as risky, making it essential to shop around for the best terms. Look for lenders who specialize in subprime loans, consider a larger down payment, and be prepared to pay higher interest rates.

570 credit score mortgage

To get a mortgage, you’ll want to look at FHA loans for first time home buyers. These loans have low credit requirements and offer competitive interest rates since they’re backed by the government. With a rating above 500 you’ll have to put down a 10% down payment. Bring it up to 580 and the downpayment drops to 3.5%.

Looking for loans for poor credit scores?

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What to consider when borrowing

Borrowing money is feasible, but comes with certain limitations. Generally speaking, you will receive offers with very high interest rates, additional fees, smaller amounts, and more stringent terms. The extra costs reflect the perceived risk in lending to consumers with lower credit scores.

Before you take out a personal loan, carefully consider the terms and the full cost of borrowing and make sure it fits within your monthly budget. Repaying as agreed can help boost your score and lead to better borrowing options in the future.

Learn more about personal finance.

Prequalify and compare offers

Online lending platforms let you receive multiple loan offers from various lenders in mere minutes, all without damaging your score with hard inquiries.

These platforms work by conducting a soft pull —which doesn’t affect your rating—to understand your financial standing. Based on this information, they match you with multiple lenders in their network who are willing to work with borrowers in your score range. This process allows you to compare interest rates, terms, and repayment options side by side, so you can make an informed decision.

What factors do lenders consider?

When financial institutions evaluate a potential borrower, they look at more than their score – no matter their rating. Looking beyond the three-digit number lets them understand the borrower’s entire financial life. Other factors lenders consider are:

  • Income level: Lenders want to make sure that you can afford to borrow money.
  • Debt-to-Income Ratio (DTI): This metric helps lenders assess your ability to manage monthly payments and repay borrowed funds. A lower DTI can sometimes offset concerns raised by a low score.
  • Employment History and Stability: Steady employment is viewed positively, as it suggests a reliable income stream and ability to make regular payments.
  • Type and Amount of Debt: The mix of your accounts (credit cards, personal loans, etc.) and how much you owe can influence a lender’s decision. High levels of unsecured debt are often seen as more concerning.

Lenders that do not prioritize your score – or conduct credit checks – may charge higher interest rates to protect themselves from potential defaults.

Is 570 a good credit score?

Is 570 a bad credit score? Yes, this score falls within the poor range. A bad score is anything below 670 on most credit scoring models. FICO scores from 300 to 579 are considered poor, while FICO scores from 580 to 669 are determined to be fair. VantageScore breaks bad credit scores down further. Scores from 300 to 499 are very poor, 500 to 600 are poor, and 601 to 660 are fair. On either model, a 570 credit score is bad. Many lenders choose not to do business with borrowers whose credit scores fall within this range.

A low score indicates a higher risk to lenders due to previous financial missteps – late or missed payments, high debt levels, accounts in collections, or bankruptcy – or a limited credit history. It can lead to potential roadblocks, including:

  • Being rejected for new credit
  • Trouble renting an apartment
  • Needing to put down a security deposit for service contracts
  • Difficulty getting a cell phone contract
  • Issues during an employment background check
  • Receiving higher insurance premiums in some states

Nevertheless, certain financial institutions will work with consumers who have a 570 FICO score.

Get a card no matter your score.

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How to build credit

increase credit score

Credit scores aren’t static. They change when you change the data in your credit reports. While 570 is not good, it is not a permanent state.

Credit scores are calculated based on:

  • Payment history
  • Credit utilization rate
  • Length of credit history
  • Mix of credit account types
  • New inquiries

It takes time to get a higher credit score, but you’ll see bigger improvements faster than if you were in the good category.

Check your credit reports annually

Sometimes, your poor rating is not your fault. Check your credit report from each of the major credit bureaus – Experian, Equifax, and TransUnion – for any errors or outdated information. Disputing inaccurate negative marks can clean up your credit history and raise your rating. Get a free credit report once a year from annualcreditreport.com.

Make timely payments

Always pay on time. Timely payments account for 35% of your FICO score. Late payments more than 30 days past due cause a lot of damage.

Set up autopay for recurring bills so you never miss a due date. If you have too many due dates close together, you can ask your credit card issuers to move them to make it easier for you to pay on time.

Any time you’re in danger of missing a payment, it’s generally a good idea to reach out to your creditor beforehand. They may be able to work with you and set up an alternative payment plan or reduce your interest rate for a time before you end up with missed payments.

On-time payments by credit score range

Credit score rangeAverage percentage of on-time payments
Data from Credit Karma

Try a credit builder product

You don’t have to go it alone. Financial institutions have designed tools specifically for building credit. It may be worth looking into the following:

  • A secured card
  • A credit-builder loan
  • Becoming an authorized user
  • Reporting All your monthly payments to the credit bureaus

These financial products can help establish a positive payment history, of on-time payments and responsible credit habits.

Catch up on your bills

Make sure all your credit accounts are current and keep them that way moving forward. We know that’s easier said than done, but remember that payment history is the most significant factor in calculating your score.

If you have any overdue credit accounts – which is likely with a score of 570 – prioritize getting them current as soon as possible. Contact your creditors to discuss debt payment plans. You may want to consider debt consolidation or talk to a nonprofit credit counseling agency to implement a debt management plan.

Interested in simplifying your bills?

Find out if debt consolidation is for you.

Limit your credit applications

Every new application leads to a hard inquiry on your credit reports. Hard inquiries lower your score by five to ten points, and the effect lasts from a few months to a year. Applying for multiple credit accounts within a short period can compound this effect and be a red flag to lenders. Instead, space out your applications by at least six months and only apply when necessary.

Learn more about how to improve your score on MoneyFor.

How to keep your good score

It’s a good idea to maintain stable credit scores. So, what is a stable credit score, and why does it matter? A stable score does not fluctuate a lot from month to month. It indicates to lenders that you are reliable and not prone to surprises.

Keeping your score stable and in the good range will let you access the best interest rates, terms, and rewards. Diligently pay all your bills on time, maintain low balances on your cards, and only apply for new accounts when necessary are the most effective ways to maintain good credit.

Pay down balances

Continue paying your bills on time every month. High credit card balances can increase your credit utilization ratio and lower your rating. Creditors do not want you to be reliant on borrowing. Aim to use less than 30% of your available credit, 10% is even better.

No new credit

Every time you submit an application, a hard inquiry is performed lowering your score. Apply only when it’s absolutely necessary. It’s also a good idea to keep old accounts open and active. This will increase the length of your credit history helping your score.

Frequently asked questions

First, review your credit report from each of the credit bureaus for errors and correct them promptly. Then consistently make timely payments, only use a small amount of your total credit, and avoid new inquiries. Improving your credit score takes time.

You can potentially borrow anything from a few thousand up to $100,000. The exact amount will depend on the lender and other factors like your income, debt level, employment status, and type of loan.

Yes, but expect higher interest rates, stricter terms, and a larger downpayment. Improving your score before applying can help secure better conditions and lower costs.

Yes, but you may face challenges. Landlords might require a higher security deposit, a co-signer, or proof of stable income to mitigate perceived risk.

You can buy a house primarily through FHA loans, which have more lenient requirements. However, expect higher interest rates and stricter conditions.

You can get car loans, FHA mortgages, secured loans, and personal loans with higher interest rates and stricter terms.

Bottom line

A 570 credit score means you’re almost in the fair range but you have a ways to go before it’s good. This score makes it hard to be approved for loans or get cards that don’t require security deposits. But don’t let a bad rating weigh you down. You can take concrete actions to improve your status. Get a secured card, report monthly payments, or work with a credit counselor. The more you build up your score, the more likely you are to qualify for better offers in the future.

About the author

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.

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This content is general in nature and is provided for informational purposes only. MoneyFor is not a financial advisor and does not offer financial planning services. This content may contain references to products and services offered through MoneyFor marketplace.