You know that your credit score is 550, but do you know what it means? Is 550 a good or bad credit score?|
We will give you a grade like you are in school. A 550 credit score earns you the following grade: F
We are sorry to say, but a 550 credit score means that most things have gone wrong.
550 credit score could mean a life of outstanding credit card bills, overdue bills, late charges, penalties, eviction, denial of credit, collection agencies calling you and so on.
We recommend that you take a personal finance class. It is going to be a long hard road to get back on your feet. Limiting spending, working more, and paying off debts over a long period is the key to getting out of grade F.
We wish you the best of luck.
Is 551 a good or bad credit score?
Go here for the next credit score on our list that we have graded and interpreted.