Is 660 a good credit score? Well, if it is that you have a 660 credit score, generally you are considered a subprime consumer, but it necessarily will not stop you from borrowing money. The average FICO credit score as recorded in the United States is 714 as of 2021, and scores that are within the 580-669 range are considered to be fair credit.
Is 660 A Good Credit Score
Well, now that you have an understanding and know where you stand in regards to your 660 credits score, it is time to really take a look at what exactly your score means, and just how likely you qualify for specific types of loans and also what you can do to improve on your credit score.
What Does a 660 Credit Score Mean
Just as mentioned earlier, credit scores that are within the 580-669 range are considered to be fair credit. And while your credit score is just below average, it is not in the realm of “bad credit” and should not necessarily stop you from getting certain types of loans.
With your 660 credit score in question, generally, lenders will consider you to be a higher-risk borrower. This simply means that to get loan approval, you are very much likely to need strong qualifications when it comes to income, employment, as well as other debts. And you are also likely to get relatively high-interest rates on loans in contrast to borrowers with excellent credit scores.
Can I Get a Credit Card with a 660 Credit Score
With a 660 credit score in question, you just might be able to get a traditional credit card. And while many credit card issuers do not publish minimum credit scoring standards, some on the other hand will approve applicants in the fair credit range. You are very much unlikely to get approved for the best credit card offers, but you also might be able to get a basic credit card or a store credit card with your score.
If it is that you can’t qualify for a credit card (or one that has decent benefits), you just can also apply for a secured credit card. Secured credit cards as you should know work just like traditional credit cards, and this is inclusive of regular credit reporting. The difference here is that you are typically required to make a deposit that is equal to your credit limit in order to open an account.
Can I Get a Personal Loan with a 660 Credit Score
You are not very likely to get the best rates from a lender on a personal loan without a good credit score, but a FICO score of 660 should however let you to qualify for one. This is especially true when it comes to personal lending marketplaces such as Upstart which specializes in loans for consumers with less-than-perfect credit histories.
You should know that it is also important to emphasize that your credit score is just one component of loan approval. You will also need income to justify the loan in question, as well as an acceptable level of indebtedness. Borrowers In fact, with top-notch credit scores get rejected for loans at most times if they already have too much recorded outstanding debt.
How to Improve My 660 Credit Score
Although you may have a fair credit score and with that should be able to qualify for loans in many cases, it is however certainly much easier to borrow money with good credit. Additionally, a higher credit score as you should know can save you money on interest, and could also even make it very much easier to rent an apartment or even get a job.
Having that in mind, here are a couple of steps that you can take to boost your fair credit score and then set yourself on the path to good, or even great credit in the future to come.
- Assess the damage and then check for errors on your credit report
- Do some damage control on your spending
- Make use of your credit
That’s it. When you follow up with these practices you are sure to get your credit score on the up.
MORE RELATED POSTS
