630 Credit Score

Your 630 Credit Score

Having a 630 credit score may cause you to be at your wits’ end. It’s certainly not the worst score, but it’s well below average. Be aware that many creditors consider 620 as the bottom cut off for prime loans. That means that this is the dividing line between fair and bad credit. Nonetheless, a 630 score is a little better than being in the “subprime”.

630 credit score

A credit score of 630 may still be considered as a reasonable credit score. You won’t necessarily be denied credit, but you will certainly not get the best rates. You might discover that getting loans can be quite difficult at this level. And if you do manage to get a loan, the interest rate will be pretty high and the conditions might be a lot less than ideal.

The Negatives of a 630 Credit Score

To be quite clear, if you’re planning on buying or refinancing a home, or buying a brand new or used car, you’re likely looking at a higher interest rate than you could get with a higher credit score. You should do all it takes just so you can get your number above a 630 credit score.

Suffice it to say, the higher your can get your score, the better. But DO NOT let your score dip below 630 before you even try to get a loan. Anything below 630 is practically a bad credit score. Your risk of default would be considered high. Before a creditor even considers approving a loan for you, you will be required to pass some strong compensating factors.

Most likely, if you have a 630 credit score, or something fairly near it, you may have made a few financial mistakes. This kind of thing happens if you have credit cards that are maxed out. Going over your credit limit makes it even more detrimental for your credit score.

When you max out several credit cards, or go over the credit limit, you send off a vibe to prospective lenders that you have problems living within your means. Effectively you are demonstrating that the money you make is not sufficient, so you use your available credit just to get what you want or need. This can negatively affect your number.

You should keep in mind that your FICO credit score is based on all the data in your credit report. Thus, it’s a crucial thing to always monitor that the information in your report is accurate. Get on top of it now! You really ought to work to get your 630 credit score to move in a positive direction.


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