The Dime Daily

Is a 620 Credit Score Good?

Updated 2026 · FICO Score 8 scale · U.S. average: 714

No — 620 is a fair credit score, sitting below the 670 threshold that FICO defines as 'good.'

FICO bucket: Fair (580–669)

Skip the fluff — TL;DR

620 qualifies you for FHA mortgages and most auto loans, but you'll pay higher interest rates than borrowers with good credit. You're 50 points from the 'good' range — one year of disciplined credit habits can close that gap.
FICO RangeCategoryYour score
800–850Exceptional
740–799Very Good
670–739Good
580–669Fair620 ← you
300–579Poor

What a 620 credit score gets you

🏠 Mortgage

FHA loans are available at 580+, so 620 qualifies with a 3.5% down payment. Conventional loans are technically possible at 620 but most lenders prefer 660–680+. Expect higher rates and potentially required mortgage insurance.

Typical rate: ~7.2–8.0% (30-year fixed)— estimate, varies by lender, LTV, and loan type

🚗 Auto Loan

Most lenders approve auto loans at 620, but you're in the 'nonprime' tier. Captive finance arms (Ford Credit, Toyota Financial) may be more flexible than banks.

Typical rate: ~10–18% APR

💳 Credit Cards

Secured credit cards (deposit-backed), Capital One Quicksilver Secured, Discover it Secured, and some store cards. Avoid cards with high annual fees and low limits at this range.

🏢 Apartment Rental

Some landlords require 650+. At 620, expect to be asked for a larger security deposit, a co-signer, or additional proof of income. Smaller private landlords are generally more flexible than large property management companies.

How 620 compares to the U.S. average

The U.S. average FICO score is 714. At 620, you're 94 points below average — you're competing with lenders' highest-risk tier. The good news: 620 to 670 is one of the fastest ranges to move through with consistent habits.

U.S. average (714)620
300 (min)714 avg850 (max)

How to improve a 620 credit score

  1. 1

    Pay every bill on time — payment history is 35% of your FICO score and a single missed payment can drop you 50–100 points.

  2. 2

    Get your credit utilization below 30% on every card, and ideally below 10%. If you have a $1,000 limit, keep your balance under $100.

  3. 3

    Don't close old accounts — average age of credit (15% of your score) is hurt when you close a long-standing card.

  4. 4

    Dispute any errors on your credit report. One in five reports has a material error; fixing one can move your score by 10–30 points overnight.

  5. 5

    Become an authorized user on a family member's old, well-managed account to inherit its positive history.

💰 Dime's Take

620 is not a bad score — it's a transitional score. You can get approved for most things; you just can't get the best rates yet. The difference between 620 and 700 in interest paid over the life of a $30,000 auto loan is often $3,000–$6,000. That's the real cost of a fair credit score.

Nearby credit scores

Is 650 a good credit score?Is 670 a good credit score?Is 680 a good credit score?

Frequently asked questions

No — 620 is a fair credit score, sitting below the 670 threshold that FICO defines as 'good.' FICO defines "good" credit as 670–739. Fair credit (580–669) falls below that range, which means you'll face higher interest rates and fewer approval options than borrowers in the 'good' tier.

With a 620 credit score: Mortgages — FHA loans are available at 580+, so 620 qualifies with a 3.5% down payment. Conventional loans are technically possible at 620 but most lenders prefer 660–680+. Expect higher rates and potentially required mortgage insurance. Auto loans — Most lenders approve auto loans at 620, but you're in the 'nonprime' tier. Captive finance arms (Ford Credit, Toyota Financial) may be more flexible than banks. Credit cards — Secured credit cards (deposit-backed), Capital One Quicksilver Secured, Discover it Secured, and some store cards. Avoid cards with high annual fees and low limits at this range. Apartment rentals — Some landlords require 650+. At 620, expect to be asked for a larger security deposit, a co-signer, or additional proof of income. Smaller private landlords are generally more flexible than large property management companies.

Pay every bill on time — payment history is 35% of your FICO score and a single missed payment can drop you 50–100 points. Get your credit utilization below 30% on every card, and ideally below 10%. If you have a $1,000 limit, keep your balance under $100. Don't close old accounts — average age of credit (15% of your score) is hurt when you close a long-standing card. Dispute any errors on your credit report. One in five reports has a material error; fixing one can move your score by 10–30 points overnight. Become an authorized user on a family member's old, well-managed account to inherit its positive history.

The U.S. average FICO score is 714. At 620, you're 94 points below average — you're competing with lenders' highest-risk tier. The good news: 620 to 670 is one of the fastest ranges to move through with consistent habits.

FICO scores range from 300 to 850. The five ranges are: Poor (300–579), Fair (580–669), Good (670–739), Very Good (740–799), and Exceptional (800–850). Most lenders use FICO scores, though some use VantageScore which uses the same 300–850 range with slightly different cutoffs.
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