If you have a 610 credit score, you may be wondering what that means. Is 610 a good credit score, a bad score, or somewhere in between? What does having a 610 credit score mean for your wallet? Read on to find out all you need to know about having a 610 credit score.
What is a 610 credit score?
The FICO Credit Score is the most widely known and used method for calculating your credit score. Although there are other versions, like the VantageScore, we’ll look at the FICO Score for the purpose of this article.
Your credit score is a three-digit number used to determine your creditworthiness. It typically ranges from 300 to 850, with the higher end being the better score. Your credit score is far more than just a number. It impacts everything from your ability to get approved for a credit card, mortgage or car loan to the amount of deposit you may have to put down for utility services, cell phones and more. In some cases, it can even influence whether or not you get hired for a new job.
If you have a 610 credit score, you can see from the graph below why it is considered fair credit on the FICO score range.
FICO credit score ranges
|Credit Score Ranges||Credit Score Values|
|Exceptional Credit Score||800 & Above|
|Very Good Credit Score||740 - 799|
|Good Credit Score||670 - 739|
|Fair Credit Score||580 - 669|
|Poor Credit Score||580 & Below|
Source:Fair Isaac Corporation (myFICO.com).
However, if you have a 610 credit score you’re not alone. Below you will find that 38 percent of the U.S. population under 30 has a similar credit score. In fact, 27 percent of the population have credit scores in this range.
U.S. Population Categorized by the Five FICO Ranges for Credit Scores
|Age||< 580||580 - 669||670 - 739||740 - 799||800 >|
|30 - 39||35%||24%||10%||16%||15%|
|40 - 49||26%||24%||10%||17%||23%|
|50 - 59||19%||22%||10%||17%||32%|
Source:We ran a survey of 550 US consumers in different age groups on 9/26/2018 to understand which credit score ranges they fell into.
If you’re interested in improving your 610 credit score, there are smart strategies you can put in place to help you see significant changes.
How to improve your 610 credit score
Improving your 610 credit score doesn’t have to be difficult. In fact, there are several fairly easy ways to see an improvement in your score almost immediately.
- Apply for a secured credit card.A secured credit card is another great way to improve your credit. A secured credit card is easier to qualify for than a traditional credit card since it requires an up-front deposit. This deposit becomes your credit limit — so, if you default on your payments, the lender can simply take the funds out of your deposit.
- Apply for a credit building loan.Adding a credit building loan is a great way to not only build your credit history but to also diversify your credit portfolio. When you take out a credit building loan, a set amount of money is set aside for you in a special account. You continue to make payments until your loan is paid off — and then you have full access to the account.
These strategies can have a significant impact on credit score improvement.
Average Credit Score Improvement starting with fair credit
|Method||Credit Starting Point||3 Months||6 Months||12 Months|
|Secure credit card||610||613||621||636|
|Credit building loan||610||613||621||638|
Source:Review of 600 individuals increased their credit with different methods. The study was conducted in February of 2016 and concluded April of 2016.
Individuals who started with a 610 credit score were able to see a 3-point improvement in just 3 months by getting a secured credit card. Similarly, they also saw a 3-point improvement in just 3-months by applying and being accepted for a credit building loan. Those improvements continued over time — improving with an 11 point increase over 6 months, and 26-28 points at the 12-month mark.
Of course, to really understand why these strategies work, it’s important to understand how your credit score is calculated.
Factors in your credit score
Your FICO credit score is primarily made up of the following factors:
- Payment history.Your payment history has the single biggest impact on your credit score of all factors. Always make at least the minimum payment and make all your payments on time every month.
- Credit utilization.This is basically how much of your available credit you’re currently using. For the best score, you should aim to keep this number at or below 30 percent (some experts even suggest trying to stay below 10 percent, although this can sometimes be difficult).
- Length of credit history.The length of your credit history also factors into your score. Always keep your oldest accounts open and in good standing.
- Types of current credit.Creditors and lenders like to see responsible use of a mix of credit types. If you only have credit cards, consider adding a credit building loan. Similarly, if you only have something like a student loan on your credit report, consider applying for a credit card or store account card.
- Account inquiries.The number of credit inquiries for your account can also impact your score. Soft inquiries (when you check your credit yourself) do not affect your score, but a hard inquiry, such as when you apply for a new credit card, can. Limit the number of your applications for the best score.
This gives a broad overview of what your credit score is comprised of. Each factor is weighted differently depending on how important the credit agency believes it to be. So how does each factor affect your credit score?
FICO scoring model calculation (weight) factors
|Credit Factors||Credit Score Weight|
|Different Types of Credit||10%|
|Number of Inquiries||10%|
Payment history and credit utilization are the two factors that most impact your credit score, with the age of your credit history coming in third at 15 percent. Now you know how your score is created, let’s look at what you can expect with a 610 credit score.
What can you expect with a 610 credit score
The interest rates you pay on various types of loans or lines of credit tend to be a direct reflection of your credit score. With this in mind, let’s take a quick look at the average interest rates for consumers with fair credit.
Interest Rate Ranges for Different Credit Score Ranks
|Type of Loan||Poor Credit||Fair Credit||Good Credit||Very Good Credit||Exceptional|
|30 Year Fixed Mortgage Interest Rate||6.352%||5.588%||5.158%||4.767%||4.545%|
|Car Loan Interest Rate||15.24%||14.06%||7.02%||4.95%||3.60%|
|Credit Card Interest Rate||24.9%||17.6%||14.9%||12.2%||13.9%|
Source:Credit Sesame asked 400 members about their interest rates during a three week period beginning on January 18, 2018.
Someone with a 610 credit score, which falls into the fair credit range, pays significantly more in interest than someone with good or excellent credit. While these numbers may not seem greatly different, even a slight difference in the interest rate can have a huge financial impact when you consider the 30-year life of a mortgage or a 6+ year term of a car loan.
Can you get a car with a 610 credit score?
If you have a 610 credit score and are considering the purchase of a car, your credit score can, and will, affect not only your ability to get approved for a loan but also what percent interest you will pay. To help, we surveyed 600 Credit Sesame members with various credit scores to see how car loans were distributed in 2017.
Percentage of New & Used Car Loans Distributed Among Credit Rank of Consumers
|Credit Score||New Car Loan in 2017||Used Car Loan in 2017|
|Very Good (750+)||22%||25%|
Source:Credit Sesame followed 600 Members in 2017 documenting their choices for automobile financing and purchasing decisions and were divided by FICO Credit Score Ranking. The poll was conducted from January 2017 until December of 2017.
Only 17 percent of new car loans in 2017 went to consumers with credit scores in the fair range. Similarly, only 18 percent of used car loans went to the same group. If you’re trying to improve your chances of getting a car loan, you may also consider getting a cosigner for your loan, which will help improve your creditworthiness.
Can you get a credit card with a 610 credit score?
Can you get a credit card with a 610 credit score? The answer is yes, but keep in mind your interest rate will likely be higher than those with better credit.
Percentage of Credit Sesame Members Who Open New Credit Accounts in 2017
|Credit Ranking||Credit Cards||Store Credit Cards||Auto Loans||Mortgage Loans|
|Very Good (<750)||19%||14%||22%||24%|
Source:Review of 1000 Credit Sesame Members during December 2017 until December 2018. 167 participants made up each credit ranking (Bad, Poor, Fair, Good, Very Good, Excellent).
28 percent of consumers in the fair credit range were able to secure a credit card, with 26 percent opening store cards. If you’ve applied for a credit card and have been denied, consider asking a friend or family member with good credit to add you as an authorized user on their account. This can help improve your score drastically, at which point you can try again.
Dealing with negative information on your credit report
While there are processes in place for you to dispute inaccurate findings on your credit report, if the negative information on your report is accurate, it’s a waiting game for it to come off. But how long do negative marks stay on your credit report? Here’s a quick guide:
- Late payments or past due accounts: 7 years
- Collections: 7 years from original date of delinquency
- Hard inquiries: 2 years
- Bankruptcy: 7 years for Chapter 13, 10 years for Chapter 7
While negative elements stay on your credit report for some time, they have an immediate and negative impact on your credit score. Here is how negative marks can impact a 610 score:
Negative Impacts on Fair Credit Ranking over 6, 12, and 24 Months
|Negative Factor||6 Months||12 Months||24 Months|
|Account Charged Off||-81||-174||-202|
|High Credit Utilization||-16||-29||-43|
|Closing Credit Card||-11||-15||-24|
Source:Credit Surveyed 80 people with a Fair Credit Ranking who reported negative impacts to their credit score over a period of two years between February of 2015 and March of 2017. The numbers represent the average credit score points gained or lost by the stated factors.
As this graph shows, negative marks can have a huge impact on your credit score. This is why it’s important to do all that you can to keep your score in top shape.
Credit Sesame conducted a survey regarding credit report errors. Of those who responded, nearly 40 percent had at least one error on their credit report. It’s important to regularly check your report for any inaccurate or outdated information. If you find any errors, you have the right to dispute the mark and have it removed.
But what negative marks make the largest impact on your credit score?
Largest Impacts in Inaccurate Credit Reports
|Credit Ranking||Incorrect Information||Lender Closed Accounts||Old Debts||Duplicate Accounts|
Source:Credit Sesame surveyed 250 people, 50 had a poor credit ranking, 50 participants had a fair credit score, 50 members had a good credit rating, 50 people were listed as very good, and 50 members reported they had an excellent credit score. The study was conducted on October 20, 2017, over a period of two weeks.
Among those with fair credit scores, the largest impact was caused by lender closed accounts, followed closely by old debt.
Credit Sesame member Roselee fixed her credit using our guidance.
Roselee Fixed her Credit Using These Steps
|We interviewed Roselee on August 28, 2018; She is 48 years old, a single mother of one teenage son, and works as a secretary for a rental company. She lives in Daytona Beach, Fla.|
|Were you able to fix your credit score?|
|I didn’t think I would be able to at first, but I started slowly and I was able to fix it. Looking back, it was no one’s fault but my own, so I am glad that I learned more about credit scores and how important they are to one’s financial life.|
|What was your original score and what is your score now?|
|My original score was just fair. I never knew I was supposed to keep track of that type of stuff. The first time I checked it, it was 610. My score as we speak is 772, so I went up from fair to very good.|
|What steps did you take to improve your score, and how long did it take?|
|The first thing I did was look for any inaccuracies on my credit report, which I found that there were 6 of them. I sent letters regarding these to all three credit reporting bureaus and it took about 6 months for them to be cleared off. At the same time, I started to make sure that all my payments were made on time, and worked to get my credit cards under 30 percent. It took 16 months but I am finally closer to my personal goal of having excellent credit.|
The first thing that Roselee did was check for inaccuracies, and it should also be a priority for anyone looking to improve their credit.
TLDR; what can you do with a 610 credit score?
In conclusion, a 610 credit score is not the worst possible score you could have, but it definitely leaves room for you to grow. With a few smart strategies and some work on your part, it’s possible for you to boost your score using the methods we’ve discussed. For more ways to improve your credit score, check out this article.
You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved.
A 610 credit score falls in the “Fair” credit range and is below the average credit score in the US. More importantly, your credit score determines whether you will qualify for credit cards or loans and what will be the interest rate even if you qualify.What credit score does Credit Sesame give you? ›
The credit score you see on your Credit Sesame account is the VantageScore 3.0. Both models calculate your credit score by measuring the same five factors: payment history, credit utilization, credit age, credit mix, and credit inquiries.Can you get approved with 610 credit score? ›
With a 610 credit score, you might be able to get a traditional credit card. While most credit card issuers don't publish minimum credit scoring standards, some will approve applicants in the fair credit range.Is credit score on Credit Sesame accurate? ›
Are The Scores Accurate? Credit sesame uses what is known as the Experian National Equivalency score. The score is accurate for what it is, but this is not the same score lenders look at when you make an application for a loan.Why is my credit score different on Credit Sesame? ›
There are several reasons why the score your bank is using and the score in your Credit Sesame account might differ: Your bank might use a different credit scoring model. Your bank might use a different credit bureau. Your bank might have pulled your score on a different day.Is Credit Karma or Credit Sesame more accurate? ›
Credit Sesame pulls your credit information once a month from TransUnion and also uses VantageScore to determine your credit score. As such, it can be said to be reasonably reliable. However, it updates your score with less frequency and with information from only one bureau instead of Credit Karma's two.How much is 520 credit score? ›
Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 520 FICO® Score is significantly below the average credit score.Can you buy anything with a 600 credit score? ›
Although 600 is considered “fair” by most standards, it doesn't mean you can't buy a home. However, lenders like higher credit ratings. It shows you're more likely to make loan payments and less likely to default on your loan. If you're buying a house, your first step is to check your credit score.Can you get Best Buy credit card with 610 credit score? ›
In general, you'll need a good credit score to be approved for the top Visa card (generally 700-749). Otherwise, you'll likely need a fair credit score (generally 660-699) to qualify for the standard Best Buy version. Upon application review, some people will be approved instantly.Can you do anything with a 600 credit score? ›
Since 600 is considered to be a fair credit score, borrowers with this score generally won't qualify for credit cards with large welcome bonuses, generous rewards and perks or low APRs. However, there are still some options available — using a secured card or becoming an authorized user on someone else's card.
There are several reasons why your score might differ from what you've seen elsewhere: You may be seeing a different credit scoring model. You may be seeing your score for a different credit bureau. You may be seeing a score that was pulled on a different day.What bureau does Credit Sesame pull? ›
A free Credit Sesame account utilizes information from TransUnion, one of the major national credit bureaus. Upgrade to a premium Credit Sesame plan for credit report info from all three bureaus: TransUnion, Experian and Equifax.Is Credit Sesame and Experian the same? ›
What Credit Sesame does NOT provide. Credit Sesame does not provide free access to your credit data from the two other credit bureaus, Experian and Equifax. Credit Sesame does not provide your FICO® Score—the credit score used by most lenders.How many points off is Credit Karma? ›
In some cases, as seen in an example below, Credit Karma may be off by 20 to 25 points.How close is Credit Karma to your actual score? ›
Here's the short answer: The credit scores and reports you see on Credit Karma come directly from TransUnion and Equifax, two of the three major consumer credit bureaus. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus.What score does Credit Karma use? ›
Credit Karma provides VantageScore® 3.0 credit scores from TransUnion and Equifax, while some credit card issuers or banks may offer access to your FICO® scores from specific bureaus. So be sure to check which scoring model is being used and which credit reports your scores are based on.Is Credit Sesame A FICO score? ›
The credit score you see on Credit Sesame is based on the VantageScore® 3.0 scoring model and provided by TransUnion, but when you upgrade to our premium services, we show your score from all three credit bureaus (along with many other resources to help protect your credit).Which of the 3 credit scores is most accurate? ›
Simply put, there is no “more accurate” score when it comes down to receiving your score from the major credit bureaus. In this article, you will learn: Different types of credit scores.Which is the most accurate credit score? ›
Although Experian is the largest credit bureau in the U.S., TransUnion and Equifax are widely considered to be just as accurate and important. When it comes to credit scores, however, there is a clear winner: FICO® Score is used in 90% of lending decisions.Is 621 a low credit score? ›
A FICO® Score of 621 places you within a population of consumers whose credit may be seen as Fair. Your 621 FICO® Score is lower than the average U.S. credit score. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.
A 900 credit score may be the highest on some scoring models, but this number isn't always possible. Only 1% of the population can achieve a credit score of 850, so there's a certain point where trying to get the highest possible credit score isn't realistic at all.How much is 900 credit score? ›
|FICO® 8 industry-specific scores||250 to 579||800 to 900|
- Lower Your Credit Utilization. ...
- Limit New Credit Applications. ...
- Diversify Your Credit Mix. ...
- Keep Old Credit Cards Open. ...
- Make On-Time Payments.
You can borrow anywhere from a few thousand dollars up to about $50,000 with a 600 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.How fast can you build credit from 600? ›
For instance, going from a poor credit score of around 500 to a fair credit score (in the 580-669 range) takes around 12 to 18 months of responsible credit use.Can you get a Walmart credit card with a 610 credit score? ›
The Walmart Credit Card credit score requirement is 640 or higher. That means people with fair credit or better have a shot at getting approved for this card. The Walmart® Store Card also requires at least fair credit for approval.What score do you need for Amazon card? ›
Typically, you can qualify for Synchrony's Amazon store cards with a fair credit score (580 to 669). On the other hand, you'll likely need at least a good credit score (670 to 739) to qualify for one of the Amazon Visa cards from Chase.What mortgage rate can I get with 610 credit score? ›
If your credit score is 610, your rate might be 4.875%. At 620, your rate could drop to 4.125%.What credit score do you start with? ›
While calculating a VantageScore score is possible soon after your first credit account appears on the report, getting a FICO credit score requires that the account should be at least six months old. In both cases, the base credit score is 300.Why did my credit score start at 600? ›
Your FICO® credit score may be 600 or lower due to limited credit history, missing or late payments, overlimit or “maxed out” accounts, high balances or multiple hard inquiries. Having a fair or low credit score may cause you to have higher interest rates on credit products, like credit cards and loans.
Payment history is weighed the most heavily in determining your credit score, along with your total outstanding debt. Generally, borrowers need a credit score of at least 610 to 640 to even qualify for a personal loan.Why is Credit Karma 100 points higher? ›
The main reason why credit scores can vary is because they use different scoring models. A FICO® Score is calculated using a different formula than a VantageScore. And while most credit scores use a scale of 300 to 850, that isn't always the case.Does Credit Sesame do a hard pull? ›
Using Credit Sesame does not affect your score in any way. When Credit Sesame accesses your credit on your behalf there is only a "soft" credit inquiry into your credit which does not hurt your score like a hard inquiry from a lender might.Do banks go by TransUnion or Equifax? ›
When you are applying for a mortgage to buy a home, lenders will typically look at all of your credit history reports from the three major credit bureaus – Experian, Equifax, and TransUnion. In most cases, mortgage lenders will look at your FICO score. There are different FICO scoring models.What is the minimum deposit for Credit Sesame? ›
To be eligible for daily credit score refreshes, a deposit of $25.00, every 30 days, must be made into your Sesame Cash account.What credit bureau do most dealerships use? ›
Equifax and Experian are the most commonly used credit bureaus by auto lenders. They offer services that are directed specifically at the auto industry, and each gets a portion of their revenue from the industry.What is a good Experian credit score? ›
For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750.What score do lenders look at? ›
FICO ® Scores are the most widely used credit scores—90% of top lenders use FICO ® Scores. Every year, lenders access billions of FICO ® Scores to help them understand people's credit risk and make better–informed lending decisions.Which score is higher Experian or Equifax? ›
The main difference is Experian grades it between 0 – 1000, while Equifax grades the score between 0 – 1200. This means that there is not only a clear 200 point difference between these two bureaus but the “perfect scores” are also different, which is 1000 as reported by Experian and 1200 as reported by Equifax.What is the lowest credit score on Credit Karma? ›
- 300-639 - Needs Work.
- 640-699 - Fair.
- 700-749 - Good.
- 750-850 - Excellent.
Some lenders report to all three major credit bureaus, but others report to only one or two. Because of this difference in reporting, each of the three credit bureaus may have slightly different credit report information for you and you may see different scores as a result.What does a 620 credit score mean? ›
A FICO® Score of 620 places you within a population of consumers whose credit may be seen as Fair. Your 620 FICO® Score is lower than the average U.S. credit score. 17% of all consumers have FICO® Scores in the Fair range (580-669)What is a good FICO score to buy a car? ›
In general, lenders look for borrowers in the prime range or better, so you will need a score of 661 or higher to qualify for most conventional car loans.What is my real credit score vs Credit Karma? ›
Your Credit Karma score should be the same or close to your FICO score, which is what any prospective lender will probably check. The range of your credit score (such as "good" or "very good") is more important than the precise number, which will vary by source and edge up or down often.Why is my Experian score so much higher than TransUnion? ›
Lenders report credit information to the credit bureaus at different times, often resulting in one agency having more up-to-date information than another. The credit bureaus may record, display or store the same information in different ways.How to get 850 credit score fast? ›
- Pay your credit card bills often. ...
- Keep a solid payment history. ...
- Consider your credit mix. ...
- Increase your credit limit. ...
- Don't close old accounts. ...
- Regularly monitor your credit report. ...
- Only apply for credit when you really need it.
- Build Your Credit File. ...
- Don't Miss Payments. ...
- Catch Up On Past-Due Accounts. ...
- Pay Down Revolving Account Balances. ...
- Limit How Often You Apply for New Accounts.
- Make your payments on time. ...
- Set up autopay or calendar reminders. ...
- Don't open too many accounts at once. ...
- Get credit for paying monthly utility and cell phone bills on time. ...
- Request a credit report and dispute any credit report errors. ...
- Pay attention to your credit utilization rate.
There are several reasons why your score might differ from what you've seen elsewhere: You may be seeing a different credit scoring model. You may be seeing your score for a different credit bureau. You may be seeing a score that was pulled on a different day.How far off is Credit Karma? ›
Well, the credit score and report information on Credit Karma is accurate, as two of the three credit agencies are reporting it. Equifax and TransUnion are the ones giving the reports and scores. Credit Karma also offers VantageScores, but they are separate from the other two credit bureaus.
To increase your CIBIL score from 600 to 750+, you need to build a strong credit history, manage loan payments efficiently, not close your old credit accounts, pay EMIs on time and monitor your credit report. If you have a good CIBIL score like 750 or above, getting a loan would be a breeze.How to get a 900 credit score in 45 days? ›
- Check your credit report. ...
- Pay your bills on time. ...
- Pay off any collections. ...
- Get caught up on past-due bills. ...
- Keep balances low on your credit cards. ...
- Pay off debt rather than continually transferring it.
While there's no exact roadmap to raise your credit score by 200 points, making monthly payments on time is critical, and so is paying down debt. Taking actions like opening an installment loan or signing up for Experian Boost can also have an impact. But remember, just like credit scores can go up, they also go down.How to get your credit score up 100 points in 30 days? ›
- Make sure your credit report is accurate.
- Sign up for Credit Karma.
- Pay bills on time.
- Use credit cards responsibly.
- Pay down a credit card or loan.
- Increase your credit limit on current cards.
- Make payments two times a month.
- Consolidate your debt.
Here's the short answer: The credit scores and reports you see on Credit Karma come directly from TransUnion and Equifax, two of the three major consumer credit bureaus. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus.How can I raise my credit score 40 points fast? ›
- Check for errors on your credit report. ...
- Remove a late payment. ...
- Reduce your credit card debt. ...
- Become an authorized user on someone else's account. ...
- Pay twice a month. ...
- Build credit with a credit card.
Credit scores help lenders decide whether to grant you credit. The average credit score in the United States is 698, based on VantageScore® data from February 2021. It's a myth that you only have one credit score.