Can I Get a Credit Card With a 600 Credit Score?

A credit score is a numerical representation of your creditworthiness, providing lenders with insight into your financial reliability. Scores typically range from 300 to 850, with higher numbers indicating lower risk. Credit cards are tools for everyday transactions and for establishing a positive financial history.

What a 600 Credit Score Means for You

A 600 credit score generally falls into the “fair” category according to the FICO scoring model, used by over 90% of top lenders. While below the national average, it offers more options than scores in the “poor” range. Lenders often view applicants with a 600 score as medium-high risk, leading to higher interest rates or limited credit product offerings. Some “subprime” lenders may work with consumers in this range, often with higher rates and fees.

Before applying for credit, obtain a copy of your credit report and check your score. You can get a free copy from each of the three major credit bureaus—Experian, Equifax, and TransUnion—once every 12 months through AnnualCreditReport.com. Reviewing your report for accuracy is important, as errors like incorrect identity information, misreported account statuses, or accounts belonging to someone else can negatively impact your score.

Credit Card Options for a 600 Score

Several credit card options exist for individuals with a 600 credit score, designed to help build or rebuild credit. Secured credit cards are a common choice, requiring a cash deposit that often serves as your credit limit. This deposit acts as collateral, reducing lender risk and making these cards easier to obtain. Secured cards report payment activity to credit bureaus, helping establish a positive payment history.

Some lenders offer unsecured credit cards for those with fair credit scores. These cards do not require a security deposit, but may come with lower credit limits, higher annual percentage rates (APRs), or annual fees. Research these options carefully, looking for cards with no annual fee if possible. Local credit unions or online lenders may also offer options tailored for fair credit.

Credit builder loans are another financial tool to establish credit, differing from credit cards. With a credit builder loan, funds are held in an account and disbursed once the loan is fully repaid. Regular, on-time payments are reported to credit bureaus, contributing to your payment history. While secured credit cards provide immediate access to funds, credit builder loans function more like a controlled savings plan that builds credit over time.

Becoming an authorized user on another person’s credit card can also build credit. When added as an authorized user, the account’s payment history can appear on your credit report, potentially benefiting your score if the primary account holder manages the account responsibly. However, if the primary cardholder misses payments or has high utilization, it could negatively affect your score.

Applying for a Credit Card

Applying for a credit card involves submitting personal and financial information. Applications can be completed online or, in some cases, in person. You will need to provide details such as your name, address, Social Security number, income, and housing costs.

After submitting your application, the card issuer usually performs a “hard inquiry” on your credit report to assess creditworthiness. This inquiry can temporarily cause a small drop in your credit score, often by less than five points, and remains on your report for up to two years. Online applications may result in an instant decision, but some might go into a “pending” status, requiring further review.

Issuers must provide a decision within 30 days of application submission. If approved, you will be informed of your credit limit and APR. The physical card is typically mailed within one to two weeks, though some issuers provide immediate access to a digital card number for online purchases.

Improving Your Credit Score

Improving your credit score involves consistent positive financial habits. Making on-time payments is a primary factor, as payment history accounts for a significant portion of your credit score, influencing 35% of your FICO Score and around 40% of your VantageScore. Even a single payment missed by 30 days can negatively impact your score. Setting up automatic payments can help ensure payments are made on time.

Keeping your credit utilization low is another impactful strategy. Credit utilization is the amount of revolving credit you are using compared to your total available credit, typically expressed as a percentage. Lenders generally prefer this ratio to be below 30%, with lower percentages being more favorable. Paying down balances on existing credit cards can quickly lower your utilization and benefit your score.

Maintaining older credit accounts can also positively affect your credit score by contributing to a longer credit history. The length of your credit history demonstrates your long-term management of credit. Avoiding the closure of old, paid-off credit card accounts can help preserve the average age of your accounts and credit mix.

Diversifying your credit types, known as credit mix, can also be beneficial, though it is a smaller factor in credit scoring models. This involves having a combination of revolving credit, like credit cards, and installment credit, such as auto loans or mortgages. However, it is not advisable to open new accounts solely to diversify your credit mix, especially if you do not need them, as new applications result in hard inquiries.