An excellent 550 credit score is not an effective. Its experienced poor. You have difficulty qualifying when it comes down to sort of financing that really needs a credit score assessment. While you are approved getting a merchant account, expect you’ll get a much higher interest rate than just you desire.
Zero, 550 isnt good credit to have a home loan. It is a terrible rating. Which dining table demonstrates FICO cannot offer a credit history attract high risk loan lender price for credit ratings lower than 620.