Fair Credit
Is 580 a Good Credit Score?
A 580 credit score is considered Fair. It's below the national average of 714 and will limit your options significantly — but it's not the bottom, and it's very fixable.
Last Updated: March 2026
WiseIQ Editorial Team
580
Fair Credit
FICO Score Range: 300–850
300850
Better Than
22% of Americans
What You Qualify For with a 580 Credit Score
Credit Cards
Secured cards and some subprime unsecured cards. Expect high APRs (25%–35%) and low limits ($300–$500).
Personal Loans
Some lenders (Upstart, OppFi) accept 580+, but rates will be 20%–35% APR. Avoid predatory payday lenders.
Auto Loans
Yes, but expect 12%–20%+ APR. Capital One Auto Navigator accepts 500+. A larger down payment helps.
Mortgage
FHA loans accept 580 with 3.5% down. Conventional loans require 620+. Expect a higher rate.
HELOC
Very difficult. Most lenders require 620–640 minimum. Focus on improving your score first.
Savings Account
Any bank — credit scores don't affect savings account eligibility.
What's Holding Your Score Back
- Late payments (35% of your score) — even one 30-day late payment can drop your score 60–110 points
- High credit utilization — using more than 30% of your available credit
- Collections or charge-offs on your report
- Limited credit history or thin file
- Recent hard inquiries from multiple applications
How to Improve a 580 Credit Score
1
Pay on time, every time
Set up autopay for at least the minimum payment. One on-time payment won't fix things, but one missed payment can destroy progress.
2
Get a secured credit card
Deposit $200–$500 as collateral. Use it for small purchases and pay in full monthly. After 6–12 months, you'll see real improvement.
3
Dispute errors on your report
Get your free report at AnnualCreditReport.com. Errors affect 1 in 5 reports. Disputing inaccurate negative items can boost your score quickly.
4
Reduce your utilization
Pay down balances to below 30% of each card's limit. Below 10% is ideal. This alone can add 20–50 points.
5
Become an authorized user
Ask a family member with good credit to add you to their account. Their positive history gets added to your report.
Timeline: With consistent effort, most people can move from 580 to 620+ in 3–6 months, and 640+ in 6–12 months.
Frequently Asked Questions
Is 580 a good credit score?
No. A 580 credit score is considered Fair and is below the national average of 714. It will limit your access to credit and result in higher interest rates. However, it's not the worst possible score and can be improved to Good (670+) within 6–12 months with consistent effort.
Can I buy a house with a 580 credit score?
Yes, with an FHA loan. FHA loans accept 580+ with a 3.5% down payment. Conventional loans require 620+. With a 580 score, expect a higher mortgage rate — improving to 620+ before applying could save you tens of thousands over the life of the loan.
How long does it take to go from 580 to 700?
Typically 12–24 months with consistent on-time payments, reduced utilization, and no new negative items. The fastest improvements come from paying down high-utilization cards and disputing any errors on your credit report.