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Lowest Possible Credit Score Explained – How to Avoid It

The lowest possible credit score is 300, but even scores under 600 can make borrowing costly and difficult.

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Updated September 23, 2025 Advertising disclosure
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Edited by John Howard
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Written by Rachel Alulis
Editorial note: Here at MoneyFor, our goal is to help you make informed financial decisions. We are committed to accuracy and impartiality in all our content. It’s important to note that articles may reference products from our partners who compensate us. This influences which products we feature and their presentation on our site, not our evaluation.

Key takeaways

  • The lowest credit score for both FICO and VantageScore models is 300, while the highest is 850.
  • Negative marks, such as late or missed payments, collections, and bankruptcies, are the most significant factors dragging scores down.
  • Having a low score makes it harder to access credit products with decent terms.

Your credit score is an indication of how responsible you are with borrowing and repaying money. A good score will open up access to credit – the best credit cards and loans with favorable terms. A poor score makes it difficult to borrow and may even impact your ability to rent an apartment. That’s why it’s essential to understand how credit works and make proactive choices to improve it.

In this article, we’ll review why your score is important, what can drag down your score, and how you can fix it if it’s too low.

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What is the lowest credit score possible?

The lowest credit score possible for standard FICO and VantageScore scores is 300. Some industry-specific FICO scores for mortgages and auto loans range from 250 to 900. While standard scores range from 300 to 850, few people actually have the lowest score. To get there, you need multiple negative marks on your credit report, dragging your score down.

While you may not have the lowest credit score, you may still have a poor credit score. What is a low credit score? Lenders consider anything below 580 on the FICO scale or 600 on the VantageScore as poor. You will have a hard time qualifying for credit cards or loans with favorable interest rates.

The good news is that you can change your credit score. Consistent positive habits, such as paying bills on time and reducing debt, can help move your score upwards.

What causes a low credit score?

A low credit score does not happen overnight. It usually comes from having many negative items reported to the credit bureaus. Negative marks on your credit report signal to lenders that you may not repay what you borrow.

Understanding the most common causes can help you avoid missteps and take control of your credit health.

Poor payment history

Payment history is the single most important factor in your credit score. It accounts for 35% of your FICO score and is highly influential to your VantageScore.

Late or missed payments can quickly drag your score down. Even one payment over 30 days past due may drop your score by 100 points and stay on your credit report up to seven years.

Overspending on credit

How much you spend on credit matters a lot. Your credit utilization ratio is the percentage of your available credit you’re using. It makes up 30% of your FICO score and is highly influential on your VantageScore.

Having high credit card balances signals to lenders that you may be overly reliant on borrowing. The concern is that you may struggle to pay your bill.

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Short credit history

A short or limited credit history gives lenders less information to assess how you handle debt. The length of credit history accounts for only 15% of your FICO score, but it is highly influential for your VantageScore.

If you’ve only had credit for a year or two, your score may be lower simply because you haven’t established a long track record.

Collection accounts

Lenders report to the credit bureaus when they turn unpaid debts over to collection agencies. Having a collection account on your report is a serious negative mark that can significantly lower your credit score. Whether it’s a forgotten medical bill or a charged-off credit card, collection accounts signal to lenders that you’re a high risk.

Bankruptcies and foreclosures

Bankruptcy is one of the most damaging events to a credit score. It shows that you were unable to repay debts and had to seek legal relief. Bankruptcies remain on your credit report for seven to ten years, depending on the type filed.

Similarly, foreclosure, losing a home because of nonpayment, leaves a lasting stain. Both events send a strong message to lenders that extending credit to you is risky.

Too many hard inquiries

When you apply for credit, lenders perform a hard inquiry on your report. Each inquiry drops your credit score by five to ten points. The effect typically lasts about a year. It accounts for only 10% of your FICO score and is moderately influential for VantageScore.

A few inquiries spread out over time won’t hurt much, but too many in a short period signal that you are desperate for credit.

Mistakes on your credit report

Sometimes, a low score isn’t your fault but is the result of errors on your credit report. Common mistakes are accounts that don’t belong to you, payments incorrectly reported as late, or outdated negative information.

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What are the downsides of having a low credit score?

A low credit score affects more than your ability to get a loan or qualify for a rewards credit card. It can spill over into almost every area of your financial life, from housing to employment opportunities.

Less access to credit

Lenders set minimum credit score requirements. If you fall below their threshold, they will likely deny you outright.

Most lenders prefer applicants with scores in the good range – over 690. If your score is lower, you will have a harder time accessing credit. The credit products you qualify for will come with less favorable terms.

Higher interest rates

If a lender approves you with a less than ideal credit score, you will likely pay more. Lenders charge borrowers with low scores higher interest rates and extra fees to offset the perceived risk. A person with excellent credit might secure a loan with a 6% APR, while someone with a poor score may receive a 36% APR. The difference can add thousands of extra dollars over the life of the loan.

Expensive insurance premiums

Many auto and home insurers use credit-based insurance scores to help determine premiums. If you have poor credit, you may face significantly higher insurance costs. Insurers view a low score as a sign of greater risk, even if you’ve never had an accident or filed a claim.

Fewer housing options

Landlords frequently check credit during the rental application process. A low score may lead to the denial of your application or may force you to provide a co-signer.

If you’re hoping to buy, the impact can be even greater. For instance, the lowest credit score FHA mortgage programs typically allow is 500 with a sizeable down payment. Most FHA mortgage lenders prefer a score of at least 580. Anything below those numbers makes qualifying for a mortgage extremely difficult.

Higher security deposits

Utility companies, cell phone providers, and even landlords may require higher security deposits if your credit is poor. They view a low score as an indicator that you may not pay your bills, and so ask for upfront money to protect themselves. While refundable, these deposits can strain your finances and may be unaffordable.

Possible employment problems

In some industries, employers review credit reports (though not scores) during the hiring process. While they can’t see the actual number, a history of late payments, collections, or other negative marks may raise concerns. This is especially true for jobs in finance or positions that require handling money. Poor credit doesn’t automatically disqualify you, but it may make competing with other candidates more difficult.

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Tips to build credit

Raising your credit score takes time and consistent effort, but the basic steps are pretty simple. Pay your bills on time, keep your balances low, and regularly check your credit score to ensure you’re making progress.

Here are a few tips and strategic advice to help you move closer to excellent credit.

Pay off collection accounts

If you have accounts in collections, paying them off is a strong first step. A paid collection still appears on your report, but it looks far better to future lenders than an unpaid one. Some newer scoring models even ignore paid collections entirely.

Address inaccurate items on your credit report

Credit reporting mistakes happen. Accounts that don’t belong to you, payments marked late in error, or outdated negative information can all drag your score down. Reviewing your credit report allows you to catch and dispute these errors.

You can get your report for free via annualcreditreport.com once a week. Correcting inaccuracies may give your score an immediate lift without any change to your actual financial behavior.

Pay bills multiple times a month

Splitting your credit card bill into two or three smaller payments can keep your balances lower throughout the billing cycle. A lower balance will improve your credit utilization ratio. It can also make each bill more affordable as you’re not paying the entire balance at once.

Set up automatic payments

Set up automatic payments so that you never miss a due date. Ideally, you’ll pay your statement balance in full. If you can’t afford the full amount, pay at least the minimum to avoid late fees.

Alternatively, many issuers will send reminders when your bill is due.

Keep your credit utilization below 10%

The rule of thumb is to keep your credit utilization ratio below 30%, but aiming for less than 10% is ideal. Experian found that consumers with an 850 credit score only used 4% of their limit.

For example, if you have a $1,000 limit, try to keep your balance under $100. Consistently low utilization signals to lenders that you manage credit responsibly.

Apply for lines of credit strategically

Although hard inquiries temporarily lower your score, it’s still advisable to apply for credit. The key is to do so strategically. Before you apply, make sure that you meet the lender’s basic criteria. Another trick is to so you can gauge your chances of approval.

Applying for credit is essential because it is the primary way to build your credit score. Also, lenders prefer that you have a mix of credit accounts. They would like evidence that you can responsibly handle both revolving (credit cards) and installment (loans) credit.

That said, do not take on debt you cannot afford. Achieving excellent credit with only a credit card is entirely possible.

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Consider a secured credit card

The minimum credit score for credit card approval varies by issuer, but most require at least fair credit. If your score is below 580, a secured credit card may be your best option.

Secured cards require a cash deposit – 100% refundable – that serves as your credit limit. Use the card responsibly by paying your bills on time and spending only 10% of your limit. Over time, you will receive a higher credit score and may graduate to an unsecured card.

Become an authorized user

Ask a trusted friend or family member if you can become an authorized user on their credit card. As an authorized user, the account’s information is added to your report, helping you . Just make sure the primary user practices good financial habits, or their mistakes could hurt your score.

Look into credit builder loans

are small loans designed to help you improve your credit score. Instead of receiving the loan amount upfront, the lender holds it in a secured account. You make monthly payments that they report to the credit bureaus.

Once you pay the loan in full, you receive the money, possibly including interest. This process helps create a track record of on-time payments, which strengthens your score.

Frequently asked questions

1. What is the lowest credit score to buy a car?

The lowest credit score to buy a car typically falls in the mid-500s, though requirements vary by lender. Some subprime lenders may approve auto loans for scores as low as 500, but the trade-off is much higher interest rates. Generally, a score of 660 or above qualifies you for better loan terms and more favorable financing options.

2. What is the lowest credit score you can have?

The lowest possible credit score under most scoring models, including FICO and VantageScore, is 300. A score this low is infrequent.

3. Can you have a 250 credit score?

A 250 credit score is not possible under standard FICO or VantageScore models, as they range from 300 to 850. If you think you’re at 250, it’s likely a misunderstanding or a different type of score. FICO does have industry scores that range from 250 to 900.

4. How common is a 700 credit score?

A credit score of 700 is fairly common and considered good in most scoring models. A good credit score is between 670 and 739 on the FICO model. According to Experian, 21% of Americans have scores in this category, with the average credit score being 715.

5. What is the highest credit score?

The highest credit score you can reach is 850. Industry-specific FICO scores go up to 900. Extremely few people have a perfect score, and achieving such a high score is not necessary. Once you’re above 760, you will likely qualify for the best interest rates, loan approvals, and premium credit card offers.

Bottom line

The lowest possible credit score is 300, but you’re unlikely to reach that level. It takes many credit missteps to find yourself at the bottom. Although you may not be at the bottom, many people have scores under 600.

The best thing you can do if you have poor credit is take the time to improve it. Pay all of your bills on time, watch your credit card balances, and have patience. Little by little, practicing good credit habits will pay off.

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32. Based on a representative study conducted by Experian® in January 2024 members who made their first purchase with Credit Builder, an earlier version of Chime Card, between June 2022 and October 2022 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. A credit score improvement is not guaranteed. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Activity on other credit accounts may also impact your score.
33. On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations. Results may vary.
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About the author

Author Rachel Alulis 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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