Who Has a 335 Credit Score?

While age is not a direct factor in credit score calculations, there is a clear correlation between age and average credit scores. According to 2023 Experian data, scores tend to rise steadily with each generation as consumers have more time to build a positive payment history and a diverse credit mix. Here is the breakdown of average FICO scores by age group:

• Generation Z (ages 18-26): 680
• Millennials (ages 27-42): 690
• Generation X (ages 43-58): 709
• Baby Boomers (ages 59-77): 745
• Silent Generation (ages 78+): 760

Credit Cards With a 335 Credit Score

A credit score of 335 is considered very poor, placing you in the lowest range of credit scores. This significantly impacts your ability to get a credit card, as most lenders will view your application as high-risk and are likely to deny it. Your options will generally be limited to specific products designed for people with bad credit, such as secured credit cards, which require a cash deposit as collateral.

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Kudos can help you find a suitable card for your financial situation using AI-powered tools like the Explore Tool, which matches you to cards based on your preferences for interest rates and fees. The platform also provides credit score insights to help you understand the potential impact of applying for a new card.

Auto Loans and a 335 Credit Score

A 335 credit score places you in the deep subprime category, which can make securing an auto loan challenging. While you may still find a lender willing to approve a loan, you will face significantly higher interest rates, with average rates for this bracket reaching 15.77% for new cars and 21.55% for used cars.

• Super-prime (781-850): 5.25% for new cars and 7.13% for used cars
• Prime (661-780): 6.87% for new cars and 9.36% for used cars
• Non-prime (601-660): 9.83% for new cars and 13.92% for used cars
• Subprime (501-600): 13.18% for new cars and 18.86% for used cars
• Deep subprime (300-500): 15.77% for new cars and 21.55% for used cars

Mortgages at a 335 Credit Score

With a 335 credit score, qualifying for a traditional mortgage is virtually impossible. According to current mortgage requirements, even the most lenient government-backed loans have higher minimums; FHA loans, for instance, require at least a 500 score. While some alternative financing options like rent-to-own may exist, they carry significant risks and are not standard mortgage products.

Applying with a 335 score almost guarantees denial from mainstream lenders. If you found a specialty lender, you would face punishingly high interest rates and fees. Lenders would also likely require a much stricter review of your finances and cap the loan amount you could borrow, severely limiting your options.

What's in a Credit Score?

Figuring out what goes into your credit score can feel like trying to solve a complex puzzle, but it generally boils down to a handful of key elements. The most common factors include:

• Your history of making payments on time is the most significant factor.
• How much of your available credit you're currently using, known as your credit utilization ratio, plays a major role.
• The age of your credit accounts, including the average age and the age of your oldest account, is also considered.
• Lenders like to see that you can responsibly manage different types of credit, such as credit cards and loans.
• Opening several new credit accounts in a short period can be seen as a risk and may temporarily lower your score.

How to Improve Your 335 Credit Score

Even with a credit score of 335, it is entirely possible to rebuild your financial standing through consistent and strategic effort. There are several proven methods you can use to start improving your score today.

• Apply for a secured credit card. Since a 335 score makes it difficult to qualify for traditional credit, a secured card requires a cash deposit as collateral, making it easier to get approved. Using it responsibly and making on-time payments helps build a positive credit history from the ground up.
• Become an authorized user. You can be added to the credit card account of a family member or friend who has a strong credit history. This allows their positive payment history and low credit utilization to be reflected on your credit report, which can provide a significant boost.
• Establish automatic bill payments. Your payment history is the most significant factor in your credit score, so ensuring you never miss a payment is critical. Setting up automatic payments prevents late fees and stops your score from falling further due to missed payments.
• Monitor your credit reports regularly. A very low score might be caused by errors or fraudulent accounts that you are unaware of. Checking your reports allows you to spot and dispute these inaccuracies, which can result in a quick score increase if they are removed.

Using a financial companion like Kudos can help you manage your cards and monitor your score as you work to rebuild your credit.