Credit Score Is it Good or Bad ?
Rosshhun
October 17, 2023
A 650 credit score sits right on the fence between a good and bad score. While not terrible, a 650 score lands squarely in the 'fair' credit range, meaning there's room for improvement.
800 - 850
Exceptional
Very Good
740 - 799
Good
670 - 739
Fair
580 - 669
Poor
300 - 579
– May qualify for loans at average rate – Better than subprime credit score – Won't get best terms on financing
With a 650 credit score, approval for a mortgage will be challenging and you'll likely need a higher down payment, auto loans are available but you may face higher APRs compared to those with better scores, and you can possibly qualify for personal loans but will see lower limits and higher interest rates.
– Pay down balances to below 30% of limit – Dispute errors on credit report – Become an authorized user – Pay all bills on time – Limit new credit application
A 650 credit score is considered fair, with room for improvement - even a small score boost can unlock better loan rates, so with diligence over time, a 650 score can be increased to a good or even exceptional range.
Read our in detail Article on CreditPolice.net