A: 670 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 670 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 670 Credit Score Get You?
A 670 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 670 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 670 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 670 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 670 Credit Score
- With a 670 credit score, on the VantageScore scale, you’re considered “Fair Credit” (650-699). Only 30 points from the “Good Credit” category.
- A 670 credit score should be enough for a mortgage approval (depending on other factors such as income, debt-to-income ratio, etc). Of course don’t expect to be approved for the best interest rates until your score is 700+ “Good”.
- A 670 credit score should be enough for a decent auto loan. Keep in mind auto loans are available for almost any credit score. The question is how much will you pay in interest on that loan. Shop around.
- Credit cards for a 670 credit score are everywhere. Expect decent offers but not “the best credit cards”. Also expect to pay a high interest rate (sound like a broken record yet?)
- Personal loans for 670 credit scores are definitely available. But please be careful as these types of loans can be VERY expensive. Read the fine print and shop around before signing.