To get a 620 credit score, focus on consistently paying bills on time, keeping credit card balances very low (under 30%, ideally under 10%), reviewing your credit reports for errors to dispute, and managing new credit applications carefully. A 620 score is considered "Fair," often impacted by past late payments or collections, so paying down debts, becoming an authorized user, or using secured credit cards can help build positive history and move you toward better scores.
Can I improve my credit score?
If you're new to credit, it may take six months to a year to reach a solid score of around 700 using FICO® or VantageScore® models. Hitting an exceptional score of 800 or higher often takes years of careful and responsible credit management.
There isn't a set credit score that each person starts with. Instead, if you don't have any credit history, you likely don't have a score at all. Credit scores are calculated based on factors such as payment history, current debt, credit utilization, credit mix, credit age and new credit applications.
Very Poor: 300–499. Poor: 500–600. Fair: 601–660.
Ways to improve your credit score
If you want to increase your score, there are some things you can do, including: Paying your loans on time. Not getting too close to your credit limit. Having a long credit history.
The 2-2-2 credit rule is a guideline for building strong credit, suggesting you should have two active credit accounts (like cards or loans) for at least two years, with consistent on-time payments for those two years, often with a minimum credit limit of $2,000 per account, to demonstrate financial responsibility to lenders, especially for mortgages. It's a benchmark to show you can handle credit well over time, reducing lender risk and improving approval odds for major loans.
Yes, paying rent can build credit, but only if those payments are reported to the major credit bureaus (Equifax, Experian, TransUnion) through a landlord's system or a third-party rent-reporting service, as rent isn't automatically included in credit reports. Consistent, on-time payments demonstrate financial responsibility, significantly impacting the payment history portion (35%) of your credit score, while late payments can harm it.
What we'll cover
With a 620 credit score (considered "fair"), you can still get credit, but expect higher interest rates; options include FHA/VA home loans, auto loans, some personal loans, and basic/secured credit cards, though you'll likely miss top offers and need a deposit for secured cards to build credit, focusing on timely payments and lower utilization to improve your score.
The 15/3 credit card payment method is a strategy to potentially boost your credit score by making two payments per billing cycle: one about 15 days before your statement closes (to lower reported utilization) and another around 3 days before the payment due date (to cover the rest and avoid late fees), though its actual impact on credit scoring is debated. It works by keeping your reported balance lower when the card issuer reports to bureaus, but experts note the specific timing isn't magical, and focusing on the reporting date is key.
Improving payment history, lowering credit card balances and avoiding new debt can help you see steady progress. While you can't raise your credit score by 100 points overnight, there are steps you can take to improve it over time.
With your 620 credit score, lenders will generally consider you to be a higher-risk borrower. This means to get loan approval, you're likely to need strong qualifications when it comes to income, employment, and other debts.
Both saving and debt repayment are critical for long-term financial health. An emergency fund should be established before aggressively paying off debt to protect against unexpected expenses. High-interest debt, such as credit cards or payday loans, often warrants faster repayment to save on interest.
The golden rule of credit cards is to pay your statement balance in full every single month. This practice is crucial for maintaining a good credit score and avoiding costly interest charges.
While paying your credit card bill early can help lower your credit utilization, which may improve your credit score, it doesn't directly increase your credit score. Rather, credit card issuers would report those payments as “on time” as there is no special category for early payments.
Poor (300-579): 300 is the lowest credit score a person can have, and it's impossible to drop below that number. Fair (580-669): Lenders and banks will look at a Fair score more favorably, but their best offers may still be out of reach. Good (670-739): FICO® reported 715 as the average credit score in 2025.