Who Has a 497 Credit Score?

While age is not a direct factor in credit scoring, scores tend to rise as people get older. This is largely because older individuals have had more time to establish a payment history and build a longer credit record. An analysis of scores by generation from 2023 shows a clear upward trend:

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

Credit Cards With a 497 Credit Score

A credit score of 497 places you in the "poor" credit range, which can be a significant hurdle when applying for a new credit card. Most lenders view this score as an indicator of high risk, making them hesitant to extend a line of credit. Consequently, your options will likely be restricted to secured credit cards or unsecured cards specifically designed for rebuilding credit, which may come with higher interest rates and fees.

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Kudos can help you find the right card for your situation with its Explore Tool, which uses a quiz to understand your financial needs and recommend personalized options. Additionally, its Dream Wallet feature provides insights into how a new card might affect your credit and whether an annual fee is justified based on your spending.

Auto Loans and a 497 Credit Score

A 497 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 and less favorable loan terms.

According to a Q2 2025 market report, here are the average auto loan rates broken down by credit score:

• 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 497 Credit Score

A 497 credit score makes buying a home challenging, but one option may be available. Your most viable path is an FHA loan, which accepts scores as low as 500 if you can provide a 10% down payment. Other loan types, like conventional or VA, are generally not accessible, as most lenders require a score of at least 620.

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If you qualify, your credit score will lead to less favorable terms. Expect a higher interest rate and more expensive mortgage insurance fees. Lenders will also require the 10% down payment and may limit the amount you can borrow, subjecting your finances to a stricter underwriting process.

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 497 Credit Score

Having a 497 credit score can feel limiting, but it is entirely possible to improve your score with consistent, positive financial habits. With the right strategy, you can see meaningful changes in as little as three to six months.

• Establish automatic bill payments. Payment history is the most significant factor in your FICO® score, so setting up automatic payments ensures you never miss a due date and begin building a positive track record.

• Reduce your credit utilization ratio. Aim to use less than 30% of your available credit, as a lower ratio signals to lenders that you can manage your credit responsibly and aren't overextended.

• Become an authorized user. Being added to a credit card account of someone with a strong payment history and low utilization can help build your own credit file by leveraging their good habits.

• Apply for a secured credit card. Designed for those with poor or limited credit, these cards require a security deposit and are a great tool for demonstrating responsible use and establishing a positive payment history.

The free Kudos browser extension can help you manage your cards and maximize rewards as you work to improve your credit score.