A: 655 is a "Fair" Credit Score!
Any credit score in the 650-699 range is generally considered “Fair”.
|Excellent||750 - 850|
|Good||700 - 749|
|Fair||650 - 699|
|Poor||550 - 649|
|Very Poor||300 - 549|
A 655 credit score (Fair Credit) is often viewed by lenders as an acceptable credit risk - meaning you will usually be approved for the credit or loan you are seeking.
But you will probably not receive the more competitive offers and rates that having a "Good" credit score (above 700) can provide.
Any score below 700 could use a boost.
If you want some of the best rates and terms lenders have to offer, you need to work on raising your credit score to at least 725, which is well within the “good” range.
What Will a 655 Credit Score Get You?
A 655 credit score falls within the "Fair" range on the scale.
But what will it get you?
|Item||Do You Qualify?|
|Any Credit Card||NO|
|No Annual Fee Credit Card||YES|
|Credit Card with 0% Financing||YES|
|Best Mortgage Rates||NO|
|Auto Loan with 0% Rate||NO|
|Lowest Auto Insurance Premiums||NO|
How Does a 655 Credit Score Compare?
It's one thing to find out if your credit credit score is "Good" or "Bad". But more importantly, how does it compare to others?
Here's a quick look at how a 655 credit score stacks up:
|% Of People||Range|
|28% of people||750 - 850|
|10% of people||700 - 749|
|16% of people||650 - 699|
|32% of people||550 - 649|
|14% of people||300 - 549|
As shown above, an estimated 16% of all people have a score in the 650-699 range.
How To Improve Your Credit Score The Right Way
Once upon a time, my credit score was 655 too. I wasn't happy. It didn't allow me to get the credit cards and loan rates I desired.
So I decided to make a change.
My score is now around 777 (lucky right?), and I enjoy some of the best rates and terms lenders have to offer.
Find out how I did it:
5 Facts about a 655 Credit Score
- With a 655 credit score, you will be considered “Fair Credit” on the vantagescore scale. Only 6 points above “Poor Credit” (550-649), and 45 points away from “Good Credit” (700-749).
- Mortage approval with a 655 credit score: Many people with 655 credit score are able to obtain a mortgage with decent interest rates. You will just have to pay a bit more for interest.
- Auto loans are available for almost any credit score range, including a 655 credit score. The question is what is the rate you will be charged? Be sure to ask and shop around before signing.
- Credit cards for a 655 credit score are going to be fairly attractive, just not the best rates and terms. Shop around and you should find one that suits your needs.
- 655 credit score personal loans are available, just be vigilant and compare loan offers before signing up. These can be a very expensive way to borrow money.