Who Has a 462 Credit Score?

While age isn't a direct factor in credit score calculations, scores tend to improve as people get older. This is largely because older individuals have had more time to build a positive payment history and a longer credit history. The average scores by generation from 2023 illustrate this trend clearly:

• 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 462 Credit Score

A credit score of 462 falls into the "very poor" range, which can significantly hinder your ability to obtain a credit card. Most lenders view this score as a high risk, meaning you'll likely face rejections for traditional, unsecured credit cards that offer rewards or low interest rates. Your options will probably be limited to secured credit cards, which require a cash deposit, or certain unsecured cards designed for bad credit that often come with steep fees and high APRs.

‍

Kudos can help you find a suitable card for your situation with its AI-powered tools that analyze your preferences and spending habits to generate personalized recommendations from a database of nearly 3,000 cards. The platform also offers insights into how applying for a new card may impact your credit score, helping you make a more informed decision that aligns with your financial circumstances.

Auto Loans and a 462 Credit Score

A 462 credit score places you in the deep subprime category, which can make securing an auto loan challenging. While approval is still possible, you can expect to face significantly higher interest rates than borrowers with better credit.

According to Experian's Q2 2025 data, here are the average auto loan interest rates for each credit score bracket:

• 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 462 Credit Score

Securing a mortgage with a 462 credit score is exceptionally challenging, as it falls well below the minimum requirements for most lenders. Even government-backed FHA loans, one of the most accessible options for those with poor credit, generally require a score of at least 500. While some specialty or non-prime lenders might consider such a score, these options are rare and come with very strict requirements.

‍

If you do manage to find a lender, your credit score will result in less favorable loan terms. You can expect significantly higher interest rates, adding tens of thousands to the total cost of your home over time. Lenders will also require a larger down payment—at least 10% for an FHA loan—and your finances will undergo much stricter scrutiny through manual underwriting.

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 payment history, which tracks whether you pay your bills on time, is the most significant factor.
• Credit utilization, or the amount of credit you're using compared to your total available credit, also plays a major role.
• The length of your credit history demonstrates your experience with managing credit over time.
• Having a healthy mix of different types of credit, such as credit cards and installment loans, can positively impact your score.
• Finally, recent credit inquiries, which occur when you apply for new credit, are also taken into account.

How to Improve Your 462 Credit Score

Don't be discouraged by a 462 credit score; it is entirely possible to improve your financial standing with consistent, positive behavior. Your credit score plays a crucial role in your financial life, but there are proven methods you can use to boost your creditworthiness.

• Pay your bills on time. Since payment history is the most significant factor in your credit score, setting up automatic payments is a critical first step to ensure you never miss a due date.

• Apply for a secured credit card. A secured card requires a cash deposit as collateral, making it accessible for those with damaged credit and allowing you to build a positive payment history as activity is reported to the credit bureaus.

• Address accounts in collections. Contacting collection agencies to negotiate a settlement or payment plan can reduce the negative impact of these accounts on your credit report.

• Monitor your credit reports. Regularly check your reports for inaccuracies and dispute any errors you find, as removing incorrect negative information is one of the fastest ways to see an improvement.

To help manage your credit cards and monitor your score as it improves, consider using tools like the Kudos browser extension.