CREDIT SCORE

Is 620 a Good Credit Score?

Last Updated: May 2026

300–850FICO Score Range

714Avg. U.S. Score

670+Good Credit Threshold

📋 Reviewed by WiseIQ Editorial Team · Updated April 2026 · Editorially independent

WiseIQ Editorial Team

Reviewed by certified financial experts · Updated March 2026

About our team →

A 620 credit score is a key threshold. It's the minimum for most conventional mortgages and unlocks significantly more credit options than scores below 620.

WiseIQ Expert Tip

Your payment history accounts for 35% of your FICO score — the single largest factor. Setting up autopay for at least the minimum payment eliminates the risk of a missed payment tanking your score.

Last Updated: March 2026 WiseIQ Editorial Team

620

Fair Credit

FICO Score Range: 300–850

300850

Browse Credit Scores

580 600 620 640 660 680 700 720 740 760 780 800 850

Score Tier

Fair Credit

Grade

Better Than

34% of Americans

What You Qualify For with a 620 Credit Score

Credit Cards

More unsecured options available. Capital One Platinum, Petal 1, and some cash back cards.

Personal Loans

Most major lenders accept 620+. Rates of 12%–25% APR are typical.

Auto Loans

Good access to auto loans. Rates of 8%–15% APR are typical at 620.

Mortgage

Conventional loans (Fannie/Freddie) require 620 minimum. You qualify, but rates will be higher than 680+ borrowers.

HELOC

Some lenders accept 620. Rates will be above average. LTV requirements are stricter.

Savings Account

Any bank — credit scores don't affect savings account eligibility.

Best Financial Products for 620 Credit Score

Credit Cards for 620 →Personal Loans for 620 →Savings Accounts for 620 →HELOC for 620 →

What's Holding Your Score Back

One or two late payments in the past 1–2 years
Moderate credit utilization (30%–60%)
A collection that's 2–4 years old
Relatively short credit history
Limited credit mix

How to Improve a 620 Credit Score

Target 670 — the Good Credit threshold

670 is where rates drop significantly across all products. It's your next major milestone.

Get a rewards credit card

At 620, you may qualify for entry-level rewards cards. Use it for one recurring bill and pay in full monthly.

Request a credit limit increase

After 6+ months of on-time payments, call your card issuer and request a limit increase. This lowers your utilization ratio without paying down debt.

Monitor your score monthly

Use Credit Karma or Experian free monitoring. Catching errors early prevents score damage.

Keep utilization below 30% on all cards

Not just overall — each individual card matters. A card at 90% utilization hurts even if your overall utilization is 20%.

Timeline: From 620, reaching 670 typically takes 6–12 months. Reaching 700 takes 12–18 months.

💡 Expert Insight

Based on our analysis of thousands of consumer financial profiles, the most common mistake people make is focusing solely on the interest rate without considering total loan cost, fees, and repayment flexibility. Always compare the APR — not just the rate — and read the fine print on prepayment penalties before signing.

WiseIQ Editorial Team

Reviewed by Certified Financial Planners & Industry Experts

Our editorial team consists of financial writers, CFPs, and former banking professionals dedicated to providing accurate, unbiased financial guidance. All content is fact-checked and updated regularly. Learn about our editorial standards →

Frequently Asked Questions

Is 620 a good credit score?

620 is the minimum threshold for conventional mortgages, which makes it a significant milestone — but it's still considered Fair, not Good. You'll qualify for more products than below-620 borrowers, but rates will still be above average. Reaching 670 (Good credit) should be your next goal.

Can I get a mortgage with a 620 credit score?

Yes. 620 is the minimum for most conventional (Fannie Mae/Freddie Mac) mortgages. FHA loans accept 580+. However, your mortgage rate will be significantly higher than a 700+ borrower — potentially 0.5%–1.5% higher, which adds up to tens of thousands over 30 years.

What is the difference between 620 and 670 credit score?

670 is the start of Good credit. The difference in rates between 620 and 670 is substantial: personal loan rates drop from ~18% to ~12%, auto loan rates drop from ~12% to ~7%, and mortgage rates drop by 0.5%–1%. The 50-point jump from 620 to 670 is one of the most financially impactful improvements you can make.

← 600 Score 640 Score →

📚 Books to Help Improve Your Credit Score

Recommended books to go deeper on this topic

High Credit Score Secrets

by Various Authors

Over 50 proven methods to boost your credit rating — covers the exact algorithm all 3 bureaus use.

View on Amazon →

The Total Money Makeover

by Dave Ramsey

The definitive guide to eliminating debt and rebuilding your financial foundation step by step.

View on Amazon →

As an Amazon Associate, WiseIQ earns from qualifying purchases. This does not affect our editorial recommendations.

Sources & Methodology

WiseIQ's editorial team researches and fact-checks all content using primary sources. Our recommendations are based on independent analysis and are not influenced by advertiser relationships.

Consumer Financial Protection Bureau (CFPB) — regulatory data and consumer guidance
Federal Reserve — Consumer Credit Report (G.19) — interest rate benchmarks
AnnualCreditReport.com — official free credit report access
myFICO Credit Education — credit score methodology
Lender and issuer websites — rates, terms, and eligibility verified directly from source

Last reviewed: April 2026 | How we rank products

Is 620 a Good Credit Score?

Frequently Asked Questions

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📚 Books to Help Improve Your Credit Score

High Credit Score Secrets

The Total Money Makeover

Sources & Methodology

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