There are many things that people assume go into their 638 credit scores but that actually don’t. Paying your bills on time is the most important thing you can do to improve your credit score. It shows lenders that you are responsible with crocheting for beginners kit your money and that you can be trusted to pay back what you borrow. Credit card applicants with a credit score in this range may be required to put down a security deposit. Applying for a secured credit card is probably your best option.

The APR you receive will be significantly above average, but you’ll be able to receive both secured and unsecured credit card with FICO score of 638. No matter what your credit score is, it’s also a good idea to regularly review your credit report for errors and dispute any you find. Doing that and signing up for a free 24/7 credit monitoring service will help keep you and your credit score safe. If bankruptcies or other public records appear on your credit report, they can have severe negative impacts on your credit score.

This could make a personal loan seem very unappealing to you, especially if your intention with the loan is to consolidate high-interest credit card debt. The APR on your personal loan could be just as high, if not higher, than the interest rate you’re currently paying on your credit cards. We think it’s important for you to understand how we make money. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.

Lenders generally see those with credit scores 670 and up as acceptable or lower-risk borrowers. Those with credit scores from 580 to 669 are generally seen as “subprime borrowers,” meaning they may find it more difficult to qualify for better loan terms. Those with lower scores – under 580 – generally fall into the “poor” credit range and may have difficulty getting credit or qualifying for better loan terms.

None of these things or anything like them do anything at all to your credit score, so instead, focus on the five primary factors that we outlined and discussed above. To put this into perspective, let’s say that you have applied for a mortgage. The bank lender is going to look at all of your existing debt obligations as part of how much you can afford to pay for the house each month. Before you can do anything to increase your 638 credit score, you need to identify what part of it needs to be improved, plain and simple.

Here’s what you need to know about building your credit and how to navigate credit applications in the meantime. This online claims service is currently only for Funeral and Life insurance claims. For any other claims please find instructions on the claims page. Many or all of the products featured here are from our partners who compensate us.