Understanding Your 620 Credit Score: Is It Good Enough?

If you’re asking yourself whether a 620 credit score is good, you’re certainly not alone. Thousands of Americans find themselves in this exact situation, often wondering the same thing. The short answer: a 620 credit score falls into the “fair” range—which means it’s not excellent, but it’s not disastrous either. It’s more like standing at a crossroads in your credit journey. This guide will help you understand what that score really means, why you might have it, and most importantly, how to improve it.

Where Your 620 Credit Score Stands in the Credit Spectrum

So what does a 620 credit score actually tell lenders about you? According to FICO—the scoring model that most lenders rely on—a 620 sits squarely in the “fair” category. The three major credit reporting agencies (Equifax, Transunion, and Experian) all use this framework to assess your creditworthiness.

Here’s the breakdown: scores between 580 and 669 are considered “fair,” while anything above 670 moves into “good” territory. About one in six Americans (roughly 17%) have a fair credit score, which shows you’re definitely not unique in this position. Most lenders look beyond just your FICO score though—they also examine your credit card balances, debt-to-income ratio, and overall financial picture.

With a 620 credit score, here’s what you can generally expect:

• Mortgages: Your options are limited, though not nonexistent
• Auto loans: Possible, but expect higher interest rates
• Personal loans: Available, particularly through credit unions and online lenders
• Unsecured credit cards: Challenging to obtain
• Secured credit cards: Much easier to qualify for
• Apartment rentals: Potential approval depending on landlord requirements

Common Reasons Behind a 620 Credit Score

Understanding how you ended up with a 620 credit score is the first step toward climbing out of the “fair” range. Several factors typically contribute to landing in this territory.

Late or missed payments top the list. These stay visible on your credit report and significantly damage your score—especially if they’ve progressed to collections. Other common culprits include bankruptcy, foreclosures, or judgments, all of which can cast a long shadow over your credit profile for years.

Some borrowers simply have limited credit history. If you’re just starting out, you may not have built enough of a track record yet. Others have experienced high credit utilization—essentially maxing out their available credit lines, which signals financial strain to lenders.

The good news? A 620 credit score is often right on the border for certain loan types. You’re close enough to “good” credit that meaningful improvements can dramatically change your options. It’s not a permanent sentence; it’s a situation you can fix.

7 Proven Strategies to Lift Your 620 Credit Score

Ready to move beyond “fair” and into better territory? Here are the most effective ways to boost your 620 credit score, ranging from quick wins to longer-term improvements.

Prioritize On-Time Payments

Your payment history makes up 30% of your credit score—the single largest factor. Missing even one payment can hurt you, but the damage increases the longer you leave it unpaid. Set up automatic payments if possible, and always try to pay at least the minimum on time. If you’ve got missed payments sitting on your report, catching up on them should be your first priority.

Attack Your Debt Balance

Credit utilization—how much of your available credit you’re actually using—also accounts for 30% of your score. If you owe $4,000 on a $5,000 limit, you’re at 80% utilization, which looks risky to lenders. Aim to keep this below 30%, ideally below 10%. Start paying down your highest balances first, and if any accounts have gone to collections, contact the creditor to potentially remove them from your report. Collections accounts can damage your score for seven years, so addressing them is crucial.

Be Strategic About New Applications

Every time you apply for credit, lenders do a “hard inquiry” that dings your score temporarily. With a 620 score, you’re already working with limited options, so don’t make things worse by applying everywhere. Research lender requirements before applying, and if you’re shopping for a mortgage or auto loan, try to submit all applications within a two-week window to minimize the damage from multiple inquiries.

Get a Secured Credit Card

Secured credit cards exist specifically for people rebuilding their credit. You deposit money (say, $500) and get a credit line matching that amount. This proves your creditworthiness to the card issuer and helps your score improve—but only if you use it responsibly. Keep your utilization at 10% or less, and pay your bill on time every month. After demonstrating reliability, many issuers will eventually convert your card to an unsecured card with a higher limit.

Become an Authorized User

If you have a family member or friend with good credit who’s willing to help, ask them to add you as an authorized user on one of their credit card accounts. Their positive payment history can transfer to your credit report and boost your score relatively quickly. Just make sure they actually pay their bills on time—their mistakes will hurt you too.

Report Your Rent Payments

Limited credit history? Companies like RentReporters can report your on-time rent payments to the three credit bureaus, giving you positive history without having to take on new debt. Similarly, Experian Boost will add your utility payment history to your credit file. These are small moves, but they add up.

Consider Professional Help

If you’re overwhelmed by your credit situation or need help disputing inaccuracies on your report, a credit repair company can guide you through the process. It’s not a magic solution, but sometimes expert assistance is worth the investment.

What Lending Options Are Available at a 620 Credit Score?

You’re probably wondering: with a 620 credit score, what can I actually borrow money for? The answer is more encouraging than you might think.

Securing a Mortgage With Your 620 Credit Score

Your mortgage approval odds depend on which type of loan you’re targeting and which lender you work with:

VA loans (for military members and veterans) may accept a 620 score, though some lenders might request 580 or higher. FHA loans are designed specifically for borrowers with lower credit scores—you can qualify with a 500 credit score if you’re putting 10% down, or a 580 score with just 3.5% down. USDA loans technically have no minimum from the government, but lenders typically want to see around 640. Conventional loans (Fannie Mae, Freddie Mac) usually require 620-640.

The trade-off: with a 620 credit score, your down payment size and income become even more critical to approval. You’ll pay higher interest rates than someone with a 750 score, but a mortgage is still within reach.

Getting Approved for an Auto Loan at 620

Auto lenders are cautious—they’re taking on significant risk when they finance a vehicle. Expect higher interest rates across the board. That said, many lenders will approve borrowers with a 620 credit score, particularly if you’re buying a used vehicle rather than a brand new one. Shopping used can mean better rates and approval odds. The catch: if your score stays at 620, you might pay thousands more in interest over the life of the loan compared to someone with “good” credit.

Personal Loan Accessibility With a 620 Credit Score

You can get a personal loan with a 620 credit score, but interest rates will be higher than for borrowers with better scores. Credit unions often offer lower APRs than traditional banks, so they’re a good starting point. Online lenders increasingly specialize in fair and even poor credit, so you have more options here than with auto loans or mortgages. You might also qualify for:

• Emergency loans
• Debt consolidation loans
• Installment loans

Credit Card Choices for a 620 Credit Score

With fair credit, you’re eligible for both secured and unsecured credit cards. Unsecured cards set your credit limit based on your score and income—expect a lower limit than someone with excellent credit. Secured cards tie your limit to your deposit, but offer a proven path to building better credit. The advantage of secured cards: they have very low credit score requirements, and your limit can increase over time as your payment history improves.

Before applying for any card, check the specific credit requirements. And remember: applying for multiple cards in a short timeframe does more harm than good. Submit one application, wait for a decision, and reassess from there.

Starting Your Credit Recovery Today

A 620 credit score is not a life sentence. Whether you’re recovering from bankruptcy, a foreclosure, or you’re simply a recent grad with limited credit history, this score represents a stepping stone toward something better. The key is taking action.

Sign up for a credit monitoring service like Credit Karma to track your progress, understand what’s changing on your report, and receive tailored suggestions. Then focus on the three biggest factors: paying bills on time, paying down debt, and using your credit lines responsibly. Over time, these actions compound.

If you need additional guidance beyond what you can do yourself, credit repair services and financial counselors are available. The path from a 620 credit score to a good or excellent score is entirely achievable—it just requires intention and consistency.