This is the only way to determine if you can get a bad credit surety bond.
To apply for a surety bond, click on your state below:
How Much Will My Bad Credit Surety Bond Cost?
If you are approved for a bad credit surety bond, you will likely have to pay more than someone who has good credit.
Generally, those with good credit will only need to pay 1-3% of the total bond amount, while those with bad credit will need to pay a higher rate, anywhere between 4-15%.
This means that for a $10,000 surety bond:
Good credit: You pay $100 - $300
Bad credit: You pay $400 - $1,500
To see what you'd pay for a bad credit surety bond, get a free quote below:
Why Does My Surety Bond Require a Credit Check?
Most surety bonds require a credit check. Some surety bonds do not, though.
The reason some surety bonds require a credit check is that the surety bonding company needs to see how likely you would be to repay them should a surety bond claim occur.
Your credit score is a great indicator of how you have repaid companies in the past.
The credit score is a soft pull. It does not adversely affect your credit score.
Your credit score is not the only thing that a surety bond company will look at, though. Underwriters of surety bondsalso consider items on a credit report such as delinquent payments, tax liens, judgments, and bankruptcies.
If you have bad credit, don't worry. This doesn't mean you can't get a surety bond. It just means you might have to pay a little more.