Who Has a 428 Credit Score?

While age isn't a direct factor in calculating your credit score, there are clear correlations between age and the average score. According to 2023 Experian data, credit scores tend to increase with age, reflecting factors like longer credit histories and more established financial habits. Here is the breakdown of the average FICO score by age group:

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

Credit Cards With a 428 Credit Score

A credit score of 428 falls into the "poor" credit range, which can make qualifying for a traditional credit card a significant challenge. Most major issuers view a score this low as a sign of high risk, leading to a high likelihood of application denial. Consequently, your options will likely be restricted to secured credit cards that require a cash deposit or high-fee unsecured cards specifically designed for rebuilding credit.

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Kudos can help you find the best card for your financial situation with its AI-powered Explore Tool, which uses a personalized quiz to understand your goals, such as building credit or finding low interest rates. The tool then uses a preference matching feature to show how well each card aligns with your needs and offers insights into how applying might affect your credit score.

Auto Loans and a 428 Credit Score

A 428 credit score places you in the deep subprime category, which can make securing an auto loan challenging. While approval is still possible, you should expect to face significantly higher interest rates and less favorable loan terms.

According to the latest auto loan rate data, here are the average interest rates for different credit score brackets:

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

Mortgages at a 428 Credit Score

With a 428 credit score, qualifying for a traditional mortgage is nearly impossible. Most lenders set their minimums far higher, typically starting at 620 for conventional loans. Even government-backed programs have higher requirements; FHA loans, for example, require a minimum score of 500 with a 10% down payment. According to mortgage requirement data, a score this low makes you ineligible for almost all mainstream home loans.

In the rare event you found a specialty or subprime lender willing to work with you, the loan terms would be severe. You would face significantly higher interest rates, larger down payment demands, and steep lender fees. This combination dramatically increases the total cost of your loan and limits the price of homes you can afford, making homeownership an incredibly expensive and difficult pursuit.

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's primarily based on a handful of key financial habits. The most common factors include:

• Your payment history tracks whether you have paid past credit accounts on time.
• Credit utilization is the percentage of your available credit that you are currently using.
• The length of your credit history considers the age of your oldest account and the average age of all your accounts.
• Having a healthy mix of credit types, such as credit cards and installment loans, can positively impact your score.
• Recent credit inquiries and newly opened accounts can temporarily lower your score.

How to Improve Your 428 Credit Score

Regardless of your starting point, improving your credit score is an achievable goal. By following proven methods, you can boost your creditworthiness and build a healthier financial profile.

• Monitor your credit reports regularly. A score in the 400s can sometimes be caused by reporting errors, and disputing inaccuracies is one of the fastest ways to see an improvement. Regularly checking your reports also helps you track your progress and detect any potential identity theft early on.
• Establish automatic bill payments. Payment history is the most significant factor affecting your credit score, making on-time payments essential for recovery. Setting up automatic payments is a foolproof way to avoid late fees and begin building a positive payment history.
• Apply for a secured credit card. If you have damaged credit, a secured card is a powerful tool for rebuilding it, as it requires a cash deposit that makes it easier to get approved. Your responsible use and timely payments are reported to the credit bureaus, helping to establish a better track record.
• Address collection accounts. Outstanding collection accounts can severely weigh down a low credit score, so tackling them is a critical step. You can often negotiate to pay less than the full amount or request that the collector remove the account from your report after you've paid it.

The Kudos browser extension can act as your financial companion, helping you manage your credit and payments as you work to improve your score.