A FICO® Score of 606 places you within a population of consumers whose credit may be seen as Fair. Your 606 FICO® Score is lower than the average U.S. credit score. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.
You should be able to get approved for a credit card with a 606 credit score—you'll just probably be given an interest rate around 20 percent. If you can't seem to get approved for a traditional unsecured credit card, you can opt for a secured credit card instead.
FICO considers a credit score to be poor if it falls below 580. According to FICO, a person with a FICO score in that range is viewed as a credit risk.
The share of Americans with credit scores below 600 was 15.5% in April 2021, according to data from credit scoring company FICO.
Your score falls within the range of scores, from 580 to 669, considered Fair. A 600 FICO® Score is below the average credit score. Some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.
A 600 FICO score is below average and falls within the fair credit score range. Although there are credit cards that target fair credit, the interest rates will be on the high side. You may even have trouble getting approved for a mortgage since 600 would be considered a subprime credit score by many lenders.
A FICO® Score of 620 places you within a population of consumers whose credit may be seen as Fair. Your 620 FICO® Score is lower than the average U.S. credit score. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.
Is 606 a Good Credit Score? A 606 FICO® Score is considered “Fair”. Mortgage, auto, and personal loans are somewhat difficult to get with a 606 Credit Score. Lenders normally don't do business with borrowers that have fair credit because it's too risky.
FICO credit scores, the industry standard for sizing up credit risk, range from 300 to a perfect 850—with 670 to 739 labeled “good,” 740-799 “very good” and 800 to 850 “exceptional.” A 700 score places you right in the middle of the good range, but still slightly below the average credit score of 711.
Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
In general, lenders look for borrowers in the prime range or better, so you will need a score of 661 or higher to qualify for most conventional car loans.
A 650 credit score can be a solid platform for getting the house you need. It can help you qualify for a mortgage, but it'll likely be one that carries a fairly steep interest rate. It's also a score you can build on to help you get a more affordable loan, today or in the future, when you refinance or buy a new home.
It's Best to Pay Your Credit Card Balance in Full Each Month
Leaving a balance will not help your credit scores—it will just cost you money in the form of interest. Carrying a high balance on your credit cards has a negative impact on scores because it increases your credit utilization ratio.
A conventional loan requires a credit score of at least 620, but it's ideal to have a score of 740 or above, which could allow you to make a lower down payment, get a more attractive interest rate and save on private mortgage insurance.
A FICO® Score of 610 places you within a population of consumers whose credit may be seen as Fair. Your 610 FICO® Score is lower than the average U.S. credit score. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.
A FICO® Score of 680 falls within a span of scores, from 670 to 739, that are categorized as Good. The average U.S. FICO® Score, 711, falls within the Good range.
The average credit score in the United States is 698, based on VantageScore® data from February 2021. It's a myth that you only have one credit score. In fact, you have many credit scores. It's a good idea to check your credit scores regularly.
Pay Your Bills on Time
Paying your bills on-time is the most straightforward way to improve your 600 credit score. You should make it a consistent habit to pay your credit cards, loans, and other bills on time. Building a good payment history can help you increase your credit score over time.
FHA loans are intended for people with lower credit; they allow a minimum credit score between 500 and 580. If your FICO score is below 580, you'll need a 10% down payment. If it's above 580, you only need to put 3.5% down.
According to FICO® Score, 15.5% of the population has a credit score below 600, while the average credit score sits at 716. Having a 600 credit score places you below the national average and into the “fair credit” category.