What can i do with a 620 credit score?

AffiliatePal is reader-supported. When you buy through links on our site, we may earn an affiliate commission.



A credit score of 620 falls into the fair credit range, which can have a significant impact on your financial opportunities. While it may not be considered excellent, there are still several things you can do with a 620 credit score. This article will explore some of the options available to individuals with this credit score range.

Improving Your Credit Score

Before diving into what you can do with a 620 credit score, it’s important to understand how you can improve it. Here are a few steps you can take to boost your credit score:

1. Pay your bills on time: Late payments can have a negative impact on your credit score. Make sure to pay your bills, including credit card payments, loans, and utilities, on time.

2. Reduce your debt: High levels of debt can lower your credit score. Focus on paying off existing debts and avoiding taking on new ones.

3. Keep credit card balances low: Maxing out your credit cards can harm your credit score. Aim to keep your credit card balances below 30% of their limits.

4. Monitor your credit report: Regularly check your credit report for errors or fraudulent activity. Dispute any inaccuracies you find to ensure your credit score is based on correct information.

Obtaining Loans

With a credit score of 620, you may still be eligible for certain types of loans. However, it’s important to note that you may face higher interest rates compared to individuals with better credit scores. Some options to consider include:

1. Personal loans: Some lenders offer personal loans to individuals with fair credit. These loans can be used for various purposes, such as debt consolidation, home improvements, or unexpected expenses.

2. Secured loans: If you have collateral, such as a car or savings account, you may be able to obtain a secured loan. These loans are backed by the collateral, which reduces the risk for the lender.

3. Credit union loans: Credit unions often have more flexible lending criteria compared to traditional banks. They may be willing to work with individuals with fair credit scores.

Securing Credit Cards

While obtaining a credit card with a 620 credit score may be challenging, there are still options available. Here are a few possibilities:

1. Secured credit cards: Secured credit cards require a security deposit, which serves as collateral. These cards can help you build credit as long as you make timely payments.

2. Retail store credit cards: Some retail stores offer credit cards with less stringent credit requirements. However, be cautious of high interest rates and fees associated with these cards.

3. Credit builder loans: Some financial institutions offer credit builder loans specifically designed to help individuals improve their credit scores. These loans typically have low borrowing amounts and are repaid over a short period.

Housing and Rental Options

A credit score of 620 may affect your ability to secure certain housing options or rental agreements. Landlords and property managers often consider credit scores when evaluating potential tenants. However, there are still ways to find suitable housing:

1. Look for landlords who don’t focus heavily on credit scores: Some landlords prioritize other factors, such as income stability or rental history, over credit scores. Look for rental listings that mention flexible credit requirements.

2. Offer a larger security deposit: If you’re comfortable with it, offering a larger security deposit may help convince landlords to overlook your credit score.


While a credit score of 620 may not be ideal, there are still options available to individuals in this credit range. By taking steps to improve your credit score and exploring alternative options, you can work towards achieving your financial goals. Remember to be diligent in managing your finances and make responsible borrowing decisions.


– Experian: www.experian.com
– Equifax: www.equifax.com
– TransUnion: www.transunion.com
– Consumer Financial Protection Bureau: www.consumerfinance.gov