The minimum credit score to rent an apartment is somewhere between 600 and 620. If an applicant’s credit score is below 600, it is unlikely a landlord will rent to him. Landlords consider a number of factors in addition to the credit score when deciding whether to rent to an applicant. These other factors include rental history, credit references and proof of income.Know More
If an applicant has an extremely low credit score, it is a good idea to find a landlord who places a higher priority on other factors. Some landlords do not run credit checks at all. Credit scores range from a high of 850 to a low of 300. Anything in the upper 600s is considered average and anything above 700 is considered good to excellent.
If an applicant has a low credit score, there is no quick fix. An open line of credit with regular payments over time is the only way to really improve a credit score. If a credit score seems unusually low, the applicant may request a credit report from one of the three primary credit agencies: TransUnion, Equifax or Experian. If there is a negative mark on the credit report that the applicant disagrees with, he can contest it.Learn more about Finding a Home
As of 2014, a credit score of 700 ranges from just above fair to good, depending on the scoring model used. Most credit-scoring models use a range of 300 to 900.Full Answer >
It takes years to build and establish a good credit score, according to FreeScore.com. An individual's credit score changes over time, and it is affected by applying for, using, making or missing payments for credit. Recent activity carries more weight, according to the California Department of Consumer Affairs.Full Answer >
As of 2015, a decent or average credit score ranges from 630 to 689, while a good credit score ranges from 690 to 719. Individuals can improve their scores by using credit responsibly, paying bills in a timely manner and keeping monthly credit card balances as low as possible.Full Answer >
To build a credit score, an individual needs to keep his debt-to-credit ratio low, pay off small balances, keep good credit on his credit report, pay credit card bills on time and pay and charge the same on a credit card. Using credit responsibly also helps a score.Full Answer >