A 619 credit score is considered fair, but it’s still a long way from a good credit score. When you have a fair score, you can expect to have more credit opportunities than someone with a much lower score, but you won’t be eligible for the most competitive rates and offers from creditors and lenders.
Learn everything you need to know about a 619 credit score: how it compares to scores in other tiers, what causes it, and what types of offers you can expect.
How Does Fair Credit Compare to Poor or Good Credit?
Fair Credit vs. Poor Credit
There’s no denying a fair credit score trumps a poor one; after all, it is numerically higher. When compared to poor credit scores, fair credit scores typically result in lower loan fees and interest charges, as well as lower rates on insurance.
Fair Credit vs. Good Credit
A credit score in the fair range is 560 to 669, whereas a good credit score starts at 670. A good credit score can qualify you for lower interest rates on credit cards, loans and insurance. You might even qualify for credit cards that offer cash back, rewards or 0% interest.
Plus, a good credit score can also help you secure utilities without having to pay a deposit up front.
Options With a 619 Credit Score
Although a 619 credit score won’t qualify you for the best credit card offers, you might be able to find one with no annual fee.
Mortgage loans and auto loans are also possibilities but don’t expect the best home loan rates — or 0% auto financing. You might also be able to get a personal loan or qualify to rent an apartment with this credit score.
Reasons You Might Have a 619 Credit Score
Undesirable credit habits, such as a history of late payments — or not paying at all — are likely at the root of a 619 credit score. Carrying balances that exceed 30 percent of your available credit could be another contributing factor.
Credit reporting errors, such as having your information mixed with someone else’s, can also ding your score.
How to Stay on Top of Your Credit
Timely payments in the agreed-upon amount are worth 40 percent of your overall score. Set up automatic payments to avoid missing the due date and damaging your score.
Your credit utilization ratio is the amount of credit you’ve used relative to your credit limit. If your credit utilization ratio is high, it can appear that you have a problem controlling your spending. Experts recommend keeping credit balances to no more than 30 percent of credit limits.
Few Hard inquiries
Hard inquiries occur when you apply for a loan or credit card and the lender initiates a hard pull on your credit. Unfortunately, each hard inquiry can lower your credit score by a few points, which could last around six months.
A few points might not seem like a big deal, but if you have several separate instances of hard inquiries, it can impact your score.
Credit reporting errors can drag down your score, so it’s wise to check your credit reports and scores on a regular basis. Are you signed up for a product that can provide you with your credit report and score information? If not, what’s stopping you?