Dl 646 (2024)

FAQs

Is a 646 credit score good or bad? ›

Your score falls within the range of scores, from 580 to 669, considered Fair. A 646 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.

Can I get a mortgage with an 646 credit score? Yes, your 646 credit score can qualify you for a mortgage.

In general, you'll need a FICO credit score of at least 600 to qualify for a traditional auto loan. However, the minimum credit score required with vary from lender to lender. As interest rates increase due to inflation, securing a subprime auto loan may be more difficult — but not impossible.

What credit card can I get with a 646 credit score? As someone with fair credit, you may have access to a number of unsecured credit cards. Unlike secured cards, an unsecured card doesn't require you to put down a security deposit. That's a plus, but there are other factors to consider.

For FICO, credit scores from 670 to 739 are considered to be good, 740 to 799 are very good and above 800 are exceptional.

In general, landlords are unlikely to approve you with poor credit history, but might consider you if you can demonstrate current financial stability. The bottom line is that the score you need varies by location, but you're likely to get approved in most places if your score is at least 650.

Credit Score

For a $300,000 home, you'll likely need a good credit score: 740+: Best rates and terms. 700-739: Slightly higher rates. 660-699: Higher rates, may require larger down payment.

For a $500,000 home, you'll likely need a good to excellent credit score: 760+: Best rates and terms. 740-759: Slightly higher rates. 720-739: Higher rates, may require larger down payment.

While there is no set credit score to get an auto loan, a majority of approved borrowers have scores above 660. Having a low credit score won't necessarily keep you from getting an auto loan, but you will likely pay a higher interest rate.

What is the lowest credit score to buy a house? ›

You'll typically need a credit score of 620 to finance a home purchase. However, some lenders may offer mortgage loans to borrowers with scores as low as 500. Whether you qualify for a specific loan type also depends on personal factors like your debt-to-income ratio (DTI), loan-to-value ratio (LTV) and income.

The average credit score in the United States is 705, based on VantageScore^® data from March 2024. It's a myth that you only have one credit score. In fact, you have many credit scores, because there are many different types of credit scores and scoring models.

Roughly 48% of Americans had a score of 750 or above as of April 2023, according to credit scoring company FICO. FICO Blog. Average U.S. FICO Score at 718.

Why is my FICO score higher than my other credit scores? Every credit-scoring model is different. And credit scores can change based on what credit report is used to inform the model. Those variances can make some scores higher or lower than others.

For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750. In 2023, the average FICO^® Score^☉ in the U.S. reached 715.

70% of U.S. consumers' FICO^® Scores are higher than 650. What's more, your score of 650 is very close to the Good credit score range of 670-739.

There are some differences around how the various data elements on a credit report factor into the score calculations. Although credit scoring models vary, generally, credit scores from 660 to 724 are considered good; 725 to 759 are considered very good; and 760 and up are considered excellent.