Is a 650 Credit Score Good

Is a 650 credit score good? Well, you should know that a FICO Score of 650 places directly within a population of consumers in the fair region. A credit score of 650 is lower than the average credit score in the United States. 28% of consumers with credit scores in the fair range statistically are very much likely to become delinquent in the future.

Is a 650 Credit Score Good

Is a 650 Credit Score Good

A credit score of 650 is generally considered fair, but it falls below what is typically considered good or excellent. Credit scores typically range from 300 to 850, with higher scores indicating better creditworthiness. And while a 650 credit score may not disqualify you from obtaining credit or loans, it may result in less favorable terms or higher interest rates. Lenders use credit scores as one factor in assessing an individual’s creditworthiness, along with other criteria such as income, debt-to-income ratio, and employment history.

Ways to Improve Your 650 Credit Score

Just as mentioned already, a credit score of 650 puts you in the fair range, which is not ideally great. You can always improve your credit score, and with that being said, here are a couple of steps that you can take to do so;

Make Payments on Time

Consistently paying your bills and credit obligations on time is crucial for building a positive credit history.

Reduce Credit Card Balances

Keeping your credit card balances low relative to your available credit can have a positive impact on your credit score.

Pay Off Debt

Reducing overall debt, such as outstanding loans or credit card balances, can improve your credit utilization ratio and positively affect your score.

Avoid New Credit Applications

Opening multiple new credit accounts within a short period can be viewed as risky behavior. Only apply for credit when necessary.

Monitor Your Credit

Regularly reviewing your credit report for errors or discrepancies can help you identify and correct any issues that could negatively impact your score.

Remember, building good credit takes time and responsible financial behavior. With consistent effort and responsible credit management, you can work towards improving your credit score over time.

What Will A Credit Score of 650 Get Me

With a credit score of 650, you may still be able to access various financial products and services, but you may encounter some limitations or less favorable terms compared to individuals with higher credit scores. Here are a couple of things for you to consider;

Credit Cards

You can likely qualify for credit cards, but the available options may have higher interest rates and fewer benefits compared to cards offered to individuals with better credit scores. You might also have lower credit limits initially.


You may qualify for certain types of loans, such as personal loans or auto loans, but the interest rates might be higher. Lenders may also scrutinize your application more closely and may require additional documentation or collateral.


While it is possible to obtain a mortgage with a credit score of 650, it may be more challenging. You might face higher interest rates and potentially stricter lending criteria. Building a larger down payment and demonstrating stable income can help strengthen your mortgage application.

Renting an Apartment

Many landlords perform credit checks as part of the rental application process. With a credit score of 650, you should still be able to secure an apartment, but landlords may require additional security deposits or ask for a co-signer.

Insurance Premiums

Some insurance companies in question make use of credit scores as a factor in determining insurance premiums. With a score of 650, you may not receive the most favorable rates, but it may not have a significant impact on your ability to obtain coverage.

You should however note that credit score requirements can vary among lenders and institutions. While a 650 credit score may present some challenges, it is not a fixed barrier, and there are steps you can take to improve your credit over time.



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