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What credit score do you need to get a car loan with Bank of America?

"What credit score do you need to get a loan with Bank of America? Unfortunately, I have a credit score of around 550.

After shopping around, I saw that Bank of America has some of the lowest car loan rates and good marks for customer satisfaction."

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Unlike other lenders, Bank of America has no official minimum credit score requirement. That’s not to say that you’ll get approved, but it won’t hurt to apply either.
Although 550 is well below average on credit scores, you might be able to qualify if you have good income and little debt. The only way to know is to apply.
And if you don’t get approved, you might want to try with a credit union or Capital One, as both of these institutions are known to work with people who want to rebuild their credit.
As you rebuild your credit, you can use a monitoring tool like
Credit Karma
.
If all else fails, consider exploring alternatives to car loans, like
leasing
or buying a used car.”
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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