Is 585 a Good Credit Score?

A credit score of 585 is not considered to be a good credit score and indicates to lenders that the individual is in the high-risk category. With a FICO credit score of 585, it is difficult for a person to get new lines of credit or loan approvals.

Having a credit score of 585 might also prevent an individual from getting a job that requires him to be responsible for financial matters. It might also prevent the person from being approved for a rental home or apartment. Also, utility companies might require a deposit before providing services.

Lenders might grant credit to people with a score between 670 and 699 after a closer review of their account and financial history. Creditors consider a score to be good if it is between 700 and 729. The highest FICO score available is 850. The higher a person's credit score, the easier it is to obtain new credit and favorable terms and interest rates.

People can improve their credit score by reducing their credit card debt. Ideally, consumers should not carry a balance on their credit cards greater than 30 percent of the total available credit. Paying bills on time also improves credit scores and shows lenders that the consumer is financially responsible.