what does "Fair" credit mean?

my credit score according to credit sesame is 550 and credit sesame is saying that is "FAIR" credit. Does fair mean not good but not baf, kind of like a D inm school where D is technically passing

8 Answers

Relevance
  • 2 weeks ago

    Fair is best than bad and worse than good. I'd say it's sort of a C in class , where A is superb , B is good, etc.

  • 1 month ago

    Fair is a step up from Poor.  Fair would be considered bad in many cases, because in many cases, it disqualifies you from certain borrowing. You could get a car loan, but you would pay a much higher interest rate. You would not be approved for a home mortgage. You might be approved for a credit card, but at very high interest rates. Your car insurance would almost certainly cost more than for someone with excellent credit, if everything else about the both of you is the same.

  • 1 month ago

    550 is pretty bad.

  • Kim R
    Lv 7
    1 month ago

    "Fair" is pretty crummy, as you say, like a "D" or "D+". You'd best set your sights a LOT higher if you ever hope to be approved for a loan. You have to prove yourself to be responsible with money by paying off all debts on time and in full. Set yourself up to succeed and you will; it's really not difficult, but it does take time. I'd shoot for a score of 760 or higher. 800+ is optimal. 

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • 1 month ago

    Fair is better than bad and worse than good.  I'd say it's like a C in school, where A is excellent, B is good, etc.

  • Judy
    Lv 7
    1 month ago

    Fair is so-so.  550 is BAD

  • Pearl
    Lv 7
    1 month ago

    it might mean its not that bad

Still have questions? Get answers by asking now.