is 621 a bad credit score from experian?

I am 19 yrs. old. I have been tryin to establish my credit for a year now. I have one credit card in my name that i pay on time every month. I have never made a late payment. I just ordered my credit score from experian and it was a 621 i know this is not a high score but is a 621 rated as poor credit?

1) This is not poor, but you need to really see all three scores to determine your middle score.

2) Yes. Get a small loan and pay it back each month that will help. Other factors are the percentage of your available balance in use. You say you have one card. If you have a 1000 line and a balance over 300 thats hurting your score (30%). If you have a 5,000 line with a balance over $1,500 thats hurting your score (30%). An excellent score is 750 or above. Normally anytime you use over 30% of your available credit line you hurt your score. The higher the percentage of use the more it hurts your score.

3) My first thought is, where did you get the score? From the Experian site? Don't waste your money. FICO is the only score that is accurate. Right now they're having a summer sale. Visit their web page for the info. There are three credit bureaus, so there will be three scores, one for each. You might be pleasantly suprised at what FICO gives you for scores. The first time I ever paid for scores, I was ignorant. I got Transunion's vantage score and it showed me nearly 60 points lower than the genuine FICO scores. Imagine my elation! Check them out http://www.myfico.com To answer your question, 621 is pretty low. You want to be at 680 or higher to get better interest rates.



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