Which Lenders Work with Credit Scores Under 460?

by Ellie Norton ; Updated September 11, 2015

Many people have less-than-perfect credit, but just because their credit score is below 460 doesn't mean that they don't still want and need credit. Part of rebuilding a credit score is to show that you can handle credit responsibly and you need open credit lines to do that. Though many banks feel that people with scores under 460 are too high of a risk, some lenders will work with you.


Many people with low credit scores feel that they will never own their own home. However, the Federal Housing Administration (FHA) may be willing to work with you. You may be able to qualify for an FHA mortgage; this is because FHA mortgages do not have a score requirement, only that you have clean credit for the last 12 months. This means that you have not been delinquent on any accounts in that time.

Automobile Loans

Most cities require you to own a car to be able to get around and there are some companies that are willing to finance a car for you if your score is below 460. Chase Auto Finance is one such example but does require a down payment and references with your application. Another such lender is Ford Motor Credit; however, they pay close attention to your annual income.

Credit Cards

Many credit card companies are willing to accept you as a customer even if you have a credit score below 460. But most of these cards have high fees, including but not limited to annual fees, monthly membership fees, and a one-time joining fee. These cards also have high interest rates; however, they are a way of establishing good credit history. Check out the following card providers: Orchard Bank, Tribute Gold MasterCard, 660 Rewards Visa, First Premier and Total Visa.

Merchant Credit

There are some companies that allow you to buy merchandise on credit from them with scores below 460. One such company is Fingerhut; they have a catalog full of items from computers to TVs that you can purchase with the credit they extend you.

Alternative Route

If you can't get credit, consider other options. Ask someone with a higher score to cosign an application with you or take out a secured credit card. The beauty of secured credit cards is that after a year of timely payments the bank may unsecure your card and give you a higher limit.

About the Author

Ellie Norton began writing in 2006 and her articles have appeared on Ehow.com, Examiner.com and Associated Content. She took many English and creative writing classes in college. Norton holds a Bachelor of Arts in history from the University of Central Florida and a Juris Doctorate from The University of Iowa.