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640 FICO Score. 700 and above: Excellent / Very Good Credit. You are considered a low credit risk by institutions and would generally qualify for the lowest interest rates and repayment terms. 680 -699: Good Credit. You will usually be approved for loans with favorable terms. 620-679: Reasonable Credit.
Its loans have low rates for borrowers with good credit. Origination and late fees. Does not offer direct payment to.
The good news is that, with a 640 fico credit score, you are still eligible for a credit card. However, your selection of credit cards is limited. You may be able to get a secured credit card that requires a security deposit.
In general, most lenders consider a FICO credit score of 740 or higher to be a good one. A score under 640 could make it difficult to qualify for auto or mortgage loans or earn the best credit card.
If you’ve ever wondered, "What is a good FICO score?" the answer is a sure and certain "it depends." Higher is always better than lower, but for most mortgage borrowers, "just enough.
Credit Score. Your credit score is a number that gives a basic grade on your credit history. Any time you apply for a loan of any type, your credit score will be essential to whether or not you’re approved and what the terms of the loan will be, so it’s important to know your credit score prior to applying for credit.
A 680 credit score is considered "Fair Credit" (scores between 650-699) and only 20 points away from the "Good Credit" category (700+). As with any score in the 650-699 range, your 680 credit score mortgage options should be attractive (depending on credit history and income).
A 640 FICO score is considered acceptable and typically qualifies a borrower to receive prime rates, according to Credit.org. Compared to borrowers scored under 620, an individual in the 620 to 680 score range is usually approved for credit and has a projected delinquency rate of 15 to 30 percent.