630 Credit Score: Is It Good or Bad?

A 630 score is in the "fair" range. You may have to pay higher rates on loans and credit cards than others.
Amrita Jayakumar
By Amrita Jayakumar 
Edited by Kathy Hinson
630 Credit Score: Is It Good or Bad?

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A 630 credit score is considered a fair credit score. Your credit score determines whether you will qualify for products like credit cards and loans, and what interest rate you will be charged by a lender.

The share of Americans who had scores of 600 to 649 was about 9% as of April 2023, according to credit scoring company FICO

FICO Blog. Average U.S. FICO Score at 718. Accessed Dec 19, 2023.

Here’s how a score of 630 can affect your financial life.

You may pay higher rates than others

As someone with a 630 credit score, you have just crossed over into the “fair” territory of credit score bands. You can qualify for financial products, like a mortgage or car loan, but you will likely pay higher interest rates than someone with better credit.

To keep your score from falling back into the bad range, continue practicing good credit habits to beef up your score. Here are some quick ways to improve your credit.

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Tips to work on your 630 credit score

Try these ways to build credit:

  • Consider applying for a secured credit card. This type of card is backed by a cash deposit.

  • Get a credit-builder loan or secured loan from a credit union. A credit-builder loan allows you to build your score and put away money for a goal at the same time.

  • If you know a family member or friend with a high credit score and long credit history, ask them to add you as an authorized user on their credit card.

  • Continue to practice good credit habits: Pay all your bills on time and use no more than 30% of the credit limit on all your credit cards; the lower the better. Those are the two biggest factors affecting your credit score. You can also open a new credit card account to increase your available credit and lower your usage ratio, but make sure you conduct research before you apply.

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