By CreditNinja Reviewed by Matt Mayerle
Modified on May 15, 2024

A 585 credit score falls in the fair credit score category. With this score, you can expect okay interest rates and some financing products. 

A 585 credit score is considered a fair credit score. A fair credit score will mean that you’ll have a decent amount of borrowing options to choose from, and you’ll get okay rates. Below is everything you need to know about a 585 credit score.

Key Takeaways for a 585 Credit Score

Overview of Your
Credit Rating

A 585 credit score is considered a fair credit score. Improving your credit score to get to a good score can be very helpful.

Borrowing Options With a
585 Credit Score

You’ll likely have access to a handful of credit card and loan options, which can be helpful when you need to borrow money.

Improving a 585
Credit/FICO Score

Improving a 585 credit score is possible, and with the right financial moves, you could see a good amount of improvement at a steady pace.

Is a 585 Credit Score Good?

A 585 credit score isn’t considered a good credit score; it actually falls within the fair credit score range. The good news is that there are still lots of borrowing opportunities available for those in the fair credit score range. Along with that, there is a good amount of room for improvement which means several ways to go about improving your credit scores.

What Can You Get Approved for With a 585 Credit Score?

Here are some loan options that borrowers with fair credit scores may have access to:

Personal Loans

Personal loans are commonly used for various reasons; some may include rent or mortgage payments, car repairs, and home repairs. When you have fair credit, you should be able to go to a handful of lenders and financial institutions, such as banks, credit unions, and online lenders. Although you may not get credit approval with every lender, you’ll have pretty good chances with many.                                           

Bank Loans

Bank loans are any loans that come from a bank. Many people turn to these financial institutions when they need funding sometimes because they already have an existing relationship with a bank. Borrowers with fair credit scores may be approved for some financing options; however, they may not get access to everyone. Additionally, the costs for borrowing won’t be the best, and they won’t be the highest either; it reflects their middle-range credit score. 

Credit Cards

With a credit score of 585, you will have various credit card options available. Credit card interest rates are set by things like credit scores and credit history. Definitely compare the interest rates and other terms of several credit cards before making a decision. Here are some credit card options for those who have fair credit: 

Car Loans

When purchasing a vehicle, many people turn to car loans. Car loans are actually pretty flexible when it comes to credit scores; one reason for this is because of the down payment. Those with lower credit scores can usually put down more money to get approved for a car loan. 

Products To Help Improve a 585 Credit Score

When you are right in the middle of credit scores, the great thing is that you don’t have that far to go when trying to get to a good score! That being said, here are some products that can really help you get a jump start on improving your score:

Credit Builder Loans

Credit builder loans are exactly what they sound like; they are loans that help people build their credit. The way this works is simple: the lender keeps the funds in a savings account, and the borrower will make monthly payments until the full amount is repaid. And once that happens, the lender will then provide the borrower with the funds from that savings account. 

Those monthly payments will be reported to at least one of the major credit bureaus. And so, as long as you repay your credit builder loan in time, it can be a great way to improve on a 585 credit score. Here are some credit builder loan options you can consider:

  • Self
  • Credit Strong
  • SeedFi’s Credit Builder Plan
  • DCU Credit Builder Loan
  • First National Bank of Omaha (FNBO) Credit Builder Program


Secured Credit Card Options

Secured credit cards are similar to credit builder loans; they help improve your credit score, and the funds won’t be available upfront. You’ll have to make monthly payments, and then you’ll get the funds at the end. 

A Credit Repair Company 

A credit repair company can take a look at your credit scores and credit history to help identify inaccuracies or errors in each credit report. From here, they can do things like begin the dispute process for you and even negotiate with lenders. They can also give you general advice about your credit scores. 

Before choosing a company to work with, it’s important to do your research, read reviews, ask about costs, and review contracts carefully. 

Budgeting Apps

Budgeting can be a great tool to help you improve your credit, and budgeting apps can do a lot of the work for you. All you have to do is enter in some financial information and in some cases, connect to some financial apps. Here are some budgeting apps that you can look into:

  • You Need A Budget (YNAB)
  • PocketGuard
  • Goodbudget
  • Personal Capital
  • EveryDollar
  • Simplifi by Quicken

Benefits of Improving Your 585 Credit Score

While having a fair credit score isn’t the worst place to be in with credit history and scores, the fact is that you are missing out on the benefits that come with having good or excellent credit. Here is more insight into the different benefits you could look forward to with a 585 credit score:

Better Interest Rates

When you have good or excellent credit, you’ll get the best interest rates with financing. This can be a huge benefit when you do need to borrow money through any loan, such as a personal loan, payday loan, credit card, etc. 

Higher Credit Limits

A credit limit will be found with revolving credit accounts like credit cards and home equity lines of credit. While income does play a large role in credit limits, credit scores are also taken into consideration with credit limits. With a higher score, one benefit is that you may get higher credit limits; this can be extremely helpful when you need a large amount of funding but aren’t too sure exactly how much. Revolving credit allows you the flexibility to borrow what you need as you need it, which is great to have in your back pocket. 

Lower Cost of Borrowing Funds   

Interest is just one cost that comes with borrowing; the total cost of a loan is reflected as APR—the annual percentage rate. With a credit score in the higher range, you’ll find that the cost of borrowing funding goes down, and along with that, you may get more flexibility with loan terms.

How To Improve Your 585 Credit Score

Before attempting to improve your credit, it will be helpful to grab your credit report from each bureau. After reviewing each credit report, you’ll have a better idea of where to start. Improving a 585 score is definitely possible on all three credit reports. And with the right strategy, you could see improvement sometimes as soon as 30-45 days!¹ Here are some tips to help you get there:

Understand How Credit Scores Work 

Although this may be more of a passive step when it comes to improving your credit score, it is important and can be extremely helpful. When you know how credit scores work, it can help you be strategic with your finances so you don’t hurt your credit scores. Here are the main categories that make up your scores:


Approximate Weight

Payment History


Amounts Owed (Credit Utilization)


Length of Credit History


Types of Credit in Use


New Credit (Inquiries)


Make Sure You Don’t Take on Unnecessary Debt 

Another thing you can do to improve your credit score is to make sure you don’t take on unnecessary debt. Debt not only can hurt your credit utilization, but it can change different aspects of your finances. For example, when you take on more debt, it can add more of a financial burden and may make it harder for you to pay your bills going forward. This may lead to missed or late payments that can hurt your credit scores. So, avoiding unnecessary debt can be really helpful when trying to improve your credit. 

Plan With Your Money

Creating a plan with your money can be extremely helpful when trying to improve your credit scores. By knowing exactly what bills you have to pay and where your money goes, you can take charge of improving your credit! 

Pay Your Credit Accounts on Time 

Payment history is the greatest factor that impacts your credit score! And so, when improving your credit, it is essential to make your monthly payments on time. To make this easier for yourself, you can set up auto pay. Even a single missed or late payment may stay on your credit reports for up to seven years.  

FAQs About 585 Credit Scores

A secured credit card requires a cash deposit that serves as collateral and typically matches the credit limit. An unsecured credit card does not require a deposit and is granted based on creditworthiness. For someone with a fair credit score, a secured credit card is often easier to obtain and can be a valuable tool for building credit, as it poses less risk to the issuer.

Missed payments can significantly negatively impact your credit score because payment history is a major factor in credit scoring models. To mitigate this impact, you can contact your creditors to discuss possible solutions, such as setting up a payment plan or catching up on missed payments. Additionally, focusing on making future payments on time can help improve your score over time.

When choosing between multiple credit accounts, consider the interest rates, fees, credit limit or loan amount, repayment terms, and how each account fits your financial needs and goals. 

The minimum score required by personal loan lenders varies, but many lenders look for scores in the 600s or higher. Having a fair credit score may limit your options to lenders who specialize in bad to fair credit borrowers, potentially resulting in higher interest rates and fees. However, some lenders may consider other factors beyond your credit score, such as income and employment stability.

Credit card issuers determine credit limits for unsecured credit cards based on your creditworthiness, which includes your credit score, income, and debt-to-income ratio. To increase your credit limit over time, maintain a history of on-time payments and keep your credit utilization low.

An average credit score is the average of three credit scores, each one from each bureau. Knowing your average score can be extremely helpful.

When you apply for a personal loan whether secured loans or unsecured loans, the lender typically conducts a hard inquiry (or hard pull) on your credit report to assess your creditworthiness. This inquiry is recorded on your report and can temporarily lower your credit score by a few points. 

Credit bureaus (Experian, TransUnion, and Equifax) compile and maintain these credit reports, which include your credit history, the number of inquiries made, and other financial information. The impact of a hard inquiry on your credit score is usually minor and short-lived, but multiple inquiries in a short period can have a more significant effect. 

What Interest Rate Can I Get With a 585 Credit Score?

The interest rate with a 585 credit score will likely be right in the middle range offered. Keep in mind that interest rates are determined by the loan type, lender, and the borrower’s finances. To get better rates, the best thing you can do is improve your credit score and review your credit reports from each credit bureau to fix any mistakes or inconsistencies.

Can I Buy a House With a 585 Credit Score?

Buying a home comes with many different parts, and one part does include a credit score minimum score (the minimum credit score required will likely vary from one lender to another). Some lenders may not have a minimum credit score requirement per se, but with bad credit, it can be tough to get approval for a mortgage. Those with fair credit may have more options than bad credit borrowers, but it will still be helpful to improve your credit as much as possible with all the credit bureaus. 

Top 5 Resources for a 585 Credit Score

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