10 Things You Can’t Buy If Your Credit Score Is Under 600 (And How to Fix It Fast)

Having a credit score under 600 can severely limit your purchasing power and financial flexibility. A score in this “fair” credit range is often seen as high-risk by lenders, meaning you’ll face higher interest rates if approved for loans or credit cards at all. While making major purchases with a score under 600 is still possible, many things will simply be out of reach until you improve your credit health.

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Here are 10 big-ticket items you likely can’t buy with a credit score under 600 – and tips on how to boost your score fast.

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New Car (With a Good Interest Rate)

According to an Experian report, the average APR for someone with a credit score of 579 or below taking out a new car loan was a whopping 14.08%. With rates that high, you could end up paying thousands more in interest over the life of the loan compared to someone with excellent credit. Most lenders reserve their premium 0-3% APR auto loan offers for those with scores over 720.

A House (With a Conventional Mortgage)

Most mortgage lenders require a minimum credit score 620 to qualify for a conventional home loan. With a score under 600, you’ll either be denied outright or forced into an FHA or other government-backed mortgage at a higher rate. According to Rocket Mortgage, you need a score of at least 580 for an FHA loan with just 3.5% down or a score of 500-579 to get approved with 10% down.

Private Student Loans

Federal student loans don’t require a credit check, but private student loans from banks and lenders do. With a score under 600, you’ll have an extremely difficult time qualifying – and if you do, the loan’s fees and fixed interest rate will likely be through the roof. Many private lenders just require a minimum credit score in the 600s to apply.

Unsecured Credit Cards with Rewards

Bad credit doesn’t make you ineligible for credit cards, but all the best travel and cash-back rewards cards are reserved for those with good or excellent scores (680+). The best you can likely hope for under 600 is an unsecured card with no rewards program and a low credit limit.

Loans/Leases for Nice Cars

Dream of getting behind the wheel of a luxury car like a BMW or Mercedes? With a credit score under 600, most captive lenders and lease programs for these brands won’t even consider your application. Many restrict their best, lowest leasing offers to those with credit scores above 700.

A Mortgage-Free Condo

Many condo complexes and homeowner associations run credit checks on applicants and enforce minimum score requirements, often 600 or above. This allows them to weed out potential owners who may have trouble consistently paying the association fees and other expenses of condo living.

Rental Housing (In Many Markets)

A growing number of landlords and property managers are using credit score cutoffs when screening rental applicants, with many setting that cutoff at 600 or even higher. This can severely restrict where someone with a poor credit score can live, especially in higher-cost urban rental markets.

A No-Annual-Fee Travel Credit Card

Luxury travel cards with big sign-up bonuses, statement credits, lounge access, and annual fees topping $500 or more are typically out of reach if your credit score is under 600. No-annual-fee travel cards tend to have more modest bonuses and requirements to match.

Business Loans/Financing

Are you dreaming of starting a business or need financing to grow an existing one? Owners with credit scores under 600 will struggle to qualify for attractive small business loans and lines of credit from most major lenders and banks.

Cell Phone Plan (At the Lowest Rates)

Need a new smartphone and wireless plan? Carriers often do a hard credit pull and may deny you their best new customer promos and rates if your score is under 600. You also may be required to pay a deposit or opt for a prepaid wireless plan.

How To Fix A Credit Score Under 600 Fast

While a credit score under 600 creates major financial roadblocks, there’s good news – it’s easier to improve a poor credit score quickly than someone starting from an average 680 score. Here’s how to give your credit a rapid boost:

Dispute inaccuracies: Incorrect negative items like late payments can severely damage your score. Get a free annual credit report from the three bureaus and dispute any errors.
Pay down balances: Credit utilization greatly impacts your score, so pay down card balances to lower your credit used vs. available credit ratio.
Ask for higher limits: Similarly, you could ask issuers for a higher credit limit to increase your available credit and lower utilization.
Become an authorized user: Have someone with great credit add you as an authorized user to “piggyback” off their good payment history.
Set up payment reminders: Setting calendar alerts can help ensure you make all future payments on time, which positively impacts scoring.