As mentioned above, a 436 FICO® Score is considered “Very Poor”. This is typically a result of situations such as:
Approximately 16% of all consumers in America have FICO® Scores in the “Very Poor” range (436-579).
With a 436 FICO® Score, you’ll struggle to obtain credit cards & loans. For the credit you do happen to secure, unfortunately it will come with extremely high interest rates.
To improve your credit score, you need to focus on fixing the underlying factors.
Not sure where to start? A dedicated credit repair agency, like us, can work with you to ensure you’re maximizing all avenues when it comes to improving your score.
As mentioned previously, a 436 credit score is considered “Very Poor”. So your lending options are going to be extremely limited.
In most cases, your lending applications will be rejected. For loans/credit you are approved for, you will often need to pay extra fees or deposits, and you will have the highest interest rates.
In most cases, your lending applications will be rejected with a 436 credit score. But in cases where you are approved, unfortunately you will pay the highest interest rate tiers.
These higher interest rates can cost you thousands of dollars in added interest over the lifetime of your loans, in comparison to if you had a “Good” credit score.
We highly recommend you take the necessary steps towards repairing your credit, and securing a better financial future for yourself.
The chances of securing a mortgage with a 436 credit score are extremely low unfortunately. Is it possible? Maybe, but it generally isn’t a wise idea with such a low credit score.
Why? Because you’ll end up paying thousands of dollars in extra interest over the life of the loan.
Instead, we recommend focussing on improving your credit score, to at least 580-669 (which is considered “Fair”, or ideally 670+. Once you’ve increased your score, you’ll be in a much better place to apply for a mortgage.
With a 436 credit score, you’ll be considered a “deep subprime borrower”, which is the lowest credit tier. There may still be auto loan options for you, but they’ll be a lot more difficult to come by, and you will pay higher interest rates.
Unfortunately the theme continues here, with a 436 credit score, it is going to be difficult to obtain a personal loan (at least one with good interest rates). You may be tempted to deal with lenders that have a poor reputation, but we urge you not to.
The best thing to do is focus on improving your credit score, to the “Fair” range (between 580-669), which will put you in a significantly better position when it comes to applying for loans/credit.
Let’s face it, a 436 credit score is not good. Applying for any forms of lending will be very difficult & expensive.
You’ll pay higher interest rates, and often have substantial fees.
The best course of action (by far), is to improve your credit score first before you apply for loans. Not only will it open more doors for you, it will also save you a ton of money in the long run (due to lower interest rates).
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