How does one know what is a fair credit score? - Limited/Bad/Fair Credit Questions


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » How does one know what is a fair credit score?

How does one know what is a fair credit score?

Answered on | Updated on November 27th, 2010
The content is accurate at the time of publication and is subject to change.

Though a majority of the American population has the so-called fair credit the young adults are not particularly aware of matters relating to the same.

The identification process:

Though there are no proper ranges to define a fair credit score, it is still assumed that anything in the range of about 640 to 680 is considered a fair credit score. Something below this (640) would be considered low and lenders would be apprehensive to loan out to the individual who has this score. However, those with scores above 680 would be offered the best rates possible. The ones in this bracket would soon gain good credit ratings.

The importance of up gradation:

When there are delinquent accounts or untimely payments with regard to revolving credit or when the debt to income ratio is poor then such individuals would come under the fair credit bracket. One must keep constant tabs especially when huge sums are settled in debts and the up gradation must be done so as to maintain the accuracy of the credit rating.

The importance of planning:

Those with fair credit need to work harder to be able to avail good interest rates. Interest rates should be negotiated with the lenders in order to arrive at something that is reasonable. This could be done with a bit of planning and one could save huge sums with a bit of negotiation. A good move would be to offer to pay a bigger deposit in return for better interest rates.

Get a co-signatory if required:

Some land owners could be apprehensive while renting out an apartment unit to a prospective tenant with a fair credit score. Under these circumstances, it would be wise to get hold of a co-signatory to avail a lease, wherein the proof of income is provided and pay a bigger deposit or even provide a month’s rent as advance. This would help re-establish the trust as well as the tarnished image and send the message that the individual is financially sound as well as responsible.

Prevention is better than cure, in this case:

A fair credit score is not okay and is very risky especially since the credit scenario has tightened up quite a bit. Falling to a bad credit rating from the fair slot would only take a couple of delayed or missed payments. Lenders are known to cut credit lines and increase the minimum amount due without prior warning. So in this case prevention is certainly better than cure.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Perfect credit not required for approval; we may approve you when others won’t
Fair/Bad Credit
Instant $500 Credit Line. No Credit Check.
Bad Credit
Monthly reporting to the three major credit bureaus
Fair/Bad Credit

Other Questions in
Limited/Bad/Fair Credit

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!