CREDIT SCORE

Is 640 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 640 credit score is Fair and approaching the Good credit range. You have decent access to credit but are still paying above-average rates. You're 30 points from Good credit.

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

640

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

C+

Better Than

40% of Americans

What You Qualify For with a 640 Credit Score

Credit Cards

Good selection of unsecured cards. Some cash back cards available. Still no premium rewards cards.

Personal Loans

Most lenders accept 640+. Rates of 10%–22% APR typical. Marcus and Happy Money accept 640.

Auto Loans

Strong access. Rates of 7%–14% APR typical at 640.

Mortgage

Conventional loans available. Rates are above average but manageable.

HELOC

Most HELOC lenders accept 640+. Rates will be near the high end of their range.

Savings Account

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

Best Financial Products for 640 Credit Score

Credit Cards for 640 →Personal Loans for 640 →Savings Accounts for 640 →HELOC for 640 →

What's Holding Your Score Back

One late payment within the last year
Credit utilization in the 30%–50% range
A collection account that's 3–5 years old
Average credit age under 3 years
Only one or two credit accounts

How to Improve a 640 Credit Score

You're 30 points from Good credit — push hard

670 is the threshold where rates drop significantly. A focused 6-month effort can get you there.

Pay every bill on time for 6 consecutive months

Payment history is 35% of your score. Six months of perfect payments builds serious momentum.

Get your utilization below 10%

The difference between 30% and 10% utilization can be 20–30 points. This is the fastest lever you have.

Consider a credit-builder loan

Self Financial offers credit-builder loans that report to all 3 bureaus. $25–$150/month builds both savings and credit history.

Don't apply for new credit

Each hard inquiry costs 5–10 points. Stay put for 6 months and let your score grow.

Timeline: From 640, reaching 670 typically takes 3–6 months with focused effort. Reaching 700 takes 9–15 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 640 a good credit score?

640 is Fair, not Good. You're 30 points from the Good credit threshold (670), which is a meaningful milestone. At 640, you qualify for most credit products but pay above-average rates. A focused 3–6 month effort can push you into Good credit territory.

What personal loans can I get with a 640 credit score?

With a 640 score, you can qualify for Marcus by Goldman Sachs (640+ minimum), Happy Money/Payoff (640+), and Avant (580+). Expect rates of 10%–22% APR. Avoid lenders charging above 36% APR, which is the threshold most consumer advocates consider predatory.

How much does a 640 vs 700 credit score cost you?

On a $25,000 auto loan over 5 years: at 640 (est. 10% APR), you pay $6,748 in interest. At 700 (est. 6% APR), you pay $3,999 in interest. That's $2,749 saved by improving 60 points. On a $300,000 mortgage, the difference can exceed $30,000 over 30 years.

← 620 Score 660 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 640 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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