Home › Forums › Credit Reports & Scores › What is a fair credit score?
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July 3, 2023 at 7:41 pm #8552Geoff MassanekModeratorJuly 5, 2023 at 7:42 pm #8758Team StellarFiKeymaster
On a scoring scale of 300-850, two of the major scoring models, FICO® and VantageScore®, vary slightly in what they categorize as a fair credit score. With FICO, the range is between 580-669, and with VantageScore it is between 601-660.
People with fair credit scores are considered subprime borrowers by lenders. A fair credit score lies in the middle of the scoring scale, so it is neither good nor bad. In this sense, people with fair credit are equally likely to raise their credit scores to “good” if they maintain good credit behavior, as they will drop to “bad” if they do not.
With a fair credit score, you can qualify for a credit card or loan but may not get the best interest rates for them. At the same time, these credit scores only indicate your creditworthiness, but do not guarantee a rejection or approval. Some lenders may consider a fair credit score to be good based on other factors like income, past payments, and income to debt percentage.
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