I am still young...my credit score is 608..is this good/bad?

Well its pretty good..not GREAT but definitely not bad!

It isn't horrible if you are really young. Time does matter so after a few more years it will go up if you don't over extend and always pay your bills on time. It helps some to have a revolving debt and a contract debt. Average is around 700 so you are still pretty low but you have to start somewhere and by the time you are 21 you will probably be up to average then built to a good rating before you are late 20s.

pretty average...keep working on it!

Not terrible but not stellar- I would try bumping it up closer to 700.... that way you'll get better rates on loans etc. Just don't let it get any lower or you'll start getting into hot water...

A good score is considered anything higher then 650 though if your score falls in the 620-650 range this is considered moderately good. Anything lower the 620 is going to be considered bad credit. While 608 is not awful, and since you are still young you have room for improvement. If you would like to learn more about your credit score and your credit report I would recommend that you refer to this website: http://credit.privacymatters.com/credit-articles/credit-score-101.aspx

It all depends on if your score is going up or itscoming down. For instance it could of been 640 last month or 590, so if its going up your not to bad.
What you need to do is to try to get a couple of credit card accounts, stores or whatever and use them but make sure that you can payoff every month what you use.
That will help your score go up significantly in months.
Also ask your parents to call there credit card companies to add you as an authorized user, "tell your parents that you will not use the cards" and really you do not have to use them. Them will raise your score significantly in 1-2 months usually.
Hope this helps.

Average, but it will go up if you follow basic credit rules.

Range is 300 (horrible) to 850 (great) so you are a bit below the average.

http://www.creditscoring.com/pages/funwithnumbers.htm

Well the national average is 675 so you are well below that. Credit scores are made up of the following;

1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%

As you can see 1,2&5 are the most important as far as score is concerned. But you need much more then that you also need a good credit profile.

To achieve this you will need 3 credit card accounts (revolving) with total debt below 30% of your limit and 2 autos, boats, homes, furniture or personal accounts (installment) all with good long pay history's.

It take years to build a good credit score/profile and only a couple of months to trash it.

I look at credit every day and see people with 700 scores that can not buy a car because their score is made up of 1 credit card with a $500.00 limit paid 15-times and a couple of student loans.

While this produces a great score it doe's not actually show the ability or willingness to pay anyone.

its ok, u want it to be in the hight 600 like 650 and up

It's bad. Not as bad as some, but bad. However, you only need another 90 points, and you'll be very good.

Not Great, but Not Bad-See the Link.

The Credit Agencies that gave you the Score will have a Section on their Website explaining some of the Factors that go Into it, and How to Improve your Score.
Basic Plan is Easy: Pay Bill, especially Credit Cards on time, and Don't have a Lot of Accounts.

It depends on a few factors..

In general its an "ok" score. Below average, but not bad either. Some lenders may give you problems with your score like that, and some wont.

However, without really knowing what is causing your score to be 608 its hard to tell exactly wha kind of shape you are in.

608 is not a good score. By that, I mean that you may be able to get credit but you will pay the price - high (very high) interest rates. You would be considered a sub-prime customer by consumer credit lenders. You may also get penalized in other ways - for example: credit cards will not be as lenient in waiving past due fees if you have any, landlords (if you are looking for a place to rent) may not be as willing to rent to you as to other folks with better credit, etc.

But you should not have much of a problem to fix your credit, relatively quickly, especially if you are young and if you don't have any major derogatory events on your credit record.

First, get your credit bureau record and take a look at it. Make sure that everything is in order. If it is, then your low credit score is probably caused by one of two things:
1) no credit history
2) high debt with low income or many overdues and unpaid bills.

If it's number 1 - that's relatively easy to fix, open a low credit limit credit card and make sure that you pay everything on time and pay everything off every month. You can also establish credit history by having utilities in your name ... and also paying those off on time, every time.

If number 2 is the case, this will take a little work. Pay everything off (yes, I know its a lot easier said than done - I know from experience), make sure you're always on time, if you have student loans - consolidate to a low interest rate loan, and give it some time. If you have recent 61 days past due events on your record, the only thing you can do is make sure and not have them again and give it time to roll off your record (although this may take a couple of years). Self discipline is definitely required.

To give you some other credit score benchmarks, from a lenders point of view:
600 - you'll have a problem getting loans and credit
700 - you'll be able to get credit, without much problem, but you'll still pay higher interest rates
750 - very good credit, no problem with credit with lowest interest rates
above 780 - you're golden and lenders will beg you to take their money.

Final note: if you opt for having a joint account with a parent, or be a user on their account, first make sure that their score is good! If it's 500 - this would be a bad plan. (Joint Account: both you and your parent have legal responsibility to pay debt, Additional User: only your parent, not you, has the responsibility for the debt on the credit card).

Hope this helps,
O.

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