Financial Education
Understanding Your 600 Credit Score
A 600 credit score falls in the “fair” range. Approval for traditional loans is possible, but consumers may encounter higher interest rates and lower loan amounts.
600 is considered a fair credit score.
According to the credit bureau Experian, 17% of all consumers have FICO scores that fall in the “fair” credit range.1 If you have a credit score of around 600, you may be wondering what types of loans you can qualify for, or what you can do to improve your overall score. Great news! You’ve come to the right place. Keep reading to learn about the pros and cons of having average credit, as well as ways you can work towards achieving a higher credit score.
Excellent
based on 12,847 reviews
Trustpilot
I have used Credit Ninja several times for fast short term loans.
“I have used Credit Ninja several times for fast short term loans. The process is fast and easy. Usually have money deposited in under 24 hours”.
Maria T.5 hours ago
Credit ninja is awesome lender.
“Credit ninja is awesome lender. Got my money deposited right away. No credit check. No hassles. Definitely recommend their services to my friends & family…”
Maria T.5 hours ago
Quick service and very easy to apply.
“Quick service and very easy to apply. Will definitely refer my friends and family”.
Maria T.5 hours ago
Key Takeaways for a 600 Credit Score
Overview of Your Rating
A 600 credit score is considered fair. Scores between 580 and 669 are said to be in the fair credit score range. You may get approved for loans, but you also might not get the best terms.
Borrowing Options
Consumers with a 600 credit score may be able to get approval on financial products like personal loans, but may also have to deal with higher interest rates, lower loan amounts, or less favorable terms.
Improving Your Score
Improving payment history, paying off debt, working towards a lower credit utilization ratio, and limiting new credit inquiries are ways consumers can improve a fair credit score.
Is a 600 Credit Score Good?
The three major credit bureaus typically consider credit scores that fall within the range of 580–669 to be fair, or average. The next range up, including scores between 670 - 739, are considered good credit scores. After that, scores between 740–799 and 800 - 850 are respectively considered very good and excellent. Furthermore, borrowers who have a credit score of 600 are sometimes referred to as subprime borrowers. If you fall into this category, know that you’re not alone! CNBC reports that 34.8% of Americans are a part of the subprime credit category.2
Pro Tip: Many lenders look beyond just the score. Consistent income and recent payment history can still unlock opportunities.
US Population Credit Score Distribution
25
20
15
10
5
0
300-579
580-669
670-739
740-799
800-850
Check out some of our partners...
Explore financial products tailored for your current credit standing. These partners specialize in helping people rebuild.
Credit Builder Account
Build credit while saving money simultaneously.
No hard credit pull required to apply.
Reports to all three major credit bureaus.
Learn More ›
Lease-to-Own Solution
Flexible lease purchase plans for essential items.
Simple process with instant decisions.
No credit required option available.
Learn More ›
Personal Loans
Personal loans, often referred to as personal installment loans, are a kind of loan borrowers can use for just about any reason. Some loans, like auto loans or mortgages, are only available to borrowers looking to purchase a car or a home, but borrowers can use a personal loan for a wide variety of expenses.
Furthermore, there are personal loan products designed for consumers of all credit types, including those with fair credit scores. For example, bad credit loans are one type of personal loan that fair or poor credit borrowers may find helpful. This type of loan comes with easy credit qualifications, and may actually help certain borrowers improve their credit score over time.
Furthermore, there are personal loan products designed for consumers of all credit types, including those with fair credit scores. For example, bad credit loans are one type of personal loan that fair or poor credit borrowers may find helpful. This type of loan comes with easy credit qualifications, and may actually help certain borrowers improve their credit score over time.
Bank Loans
Consumers can also turn to local or chain banks for installment loans. However, the best terms and rates are almost always reserved for borrowers with very good or excellent credit. You may have better luck finding a good deal on a loan with lenders who are more versed in working with borrowers of all credit types.
Credit Cards
Secured credit cards are a special type of credit where cardholders pre-pay their credit limit upfront. Secured lines of credit are often ideal for borrowers with fair or poor credit since they are a great way to have an open and active financial account without dealing with the risks that can come with an unsecured credit card.
Some secured credit cards consumers with fair credit scores may take advantage of are:
• OpenSky® Secured Credit Visa® Card
• First Progress Platinum Select Mastercard® Secured Credit Card
• Capital One Platinum Secured Credit Card
• First Progress Platinum Prestige Mastercard® Secured Credit Card
• First Progress Platinum Elite Mastercard® Secured Credit Card
• Merrick Bank Secured Credit Card
• First Latitude Platinum Mastercard Secured Credit Card
• OpenSky® Plus Secured Visa® Credit Card
• Discover it® Secured Credit Card
• Assent Platinum Mastercard® Secured Credit Card
Some secured credit cards consumers with fair credit scores may take advantage of are:
• OpenSky® Secured Credit Visa® Card
• First Progress Platinum Select Mastercard® Secured Credit Card
• Capital One Platinum Secured Credit Card
• First Progress Platinum Prestige Mastercard® Secured Credit Card
• First Progress Platinum Elite Mastercard® Secured Credit Card
• Merrick Bank Secured Credit Card
• First Latitude Platinum Mastercard Secured Credit Card
• OpenSky® Plus Secured Visa® Credit Card
• Discover it® Secured Credit Card
• Assent Platinum Mastercard® Secured Credit Card
Action Plan
Action Plan
Action Plan
How To Improve Your 600 Credit Score
With a little planning and by developing some good habits, you can watch your credit score go up in no time! Check out some tips that will help you on your journey toward a good credit score.
Limit Your Applications for New Credit Accounts
Every time you apply for a new credit card or loan, the lender is going to request a hard credit check. With each hard credit check, you may see your overall credit score drop a few points. So, while one credit application may not cause your score to plummet, it’s not a good idea to submit numerous applications within a short period of time.
Instead, you may want to limit your credit applications, or perhaps avoid them altogether until you have improved your credit history. That way, you can avoid your credit dipping from a hard credit check, and you can also avoid acquiring more debt you’ll eventually have to repay.
Instead, you may want to limit your credit applications, or perhaps avoid them altogether until you have improved your credit history. That way, you can avoid your credit dipping from a hard credit check, and you can also avoid acquiring more debt you’ll eventually have to repay.
Work on Your Payment History
According to Experian, 39% of Americans with a FICO score of 600 have a history of late payments.1 If you have a habit of making late payments or missing payments altogether, you’ll want to fix this ASAP. Unfortunately, having just one missed payment in your credit history can prevent you from improving a bad credit score for up to seven years!
Since payment history is responsible for approximately 35% of your credit score, you’ll want to work on making all your due payments on time if you really want to get that good credit score. If you have trouble remembering your due dates, consider signing up for automatic payments. With autopay, your due payments will be taken directly out of your bank account. That way, you can make sure you submit your payments on time without having to remember to submit each one manually.
Since payment history is responsible for approximately 35% of your credit score, you’ll want to work on making all your due payments on time if you really want to get that good credit score. If you have trouble remembering your due dates, consider signing up for automatic payments. With autopay, your due payments will be taken directly out of your bank account. That way, you can make sure you submit your payments on time without having to remember to submit each one manually.
Lower Your Credit Utilization Ratio and Prioritize Debt
Another key component of improving your FICO score is to keep a low credit utilization. Your credit utilization is how much credit you have available compared to how much you are currently using. The lower your credit utilization, the better!
In the spirit of lowering your credit utilization, you’ll also want to work towards paying off your existing debts. You may also find it useful to utilize debt repayment strategies like the snowball or avalanche methods to help make paying off your debt even more efficient.
In the spirit of lowering your credit utilization, you’ll also want to work towards paying off your existing debts. You may also find it useful to utilize debt repayment strategies like the snowball or avalanche methods to help make paying off your debt even more efficient.
Can I Buy a House With a 600 Credit Score?
Typically, mortgage lenders favor applicants with high credit scores and clean credit histories. And so, if you have a 600 credit score, you may have to search a bit before you find a mortgage lender that’s a good fit.
You may have better luck buying a house with a 600 credit score by seeking out options such as FHA loans, asking a co-signer to sign your mortgage with you, or even offering to put down a larger down payment.
You may have better luck buying a house with a 600 credit score by seeking out options such as FHA loans, asking a co-signer to sign your mortgage with you, or even offering to put down a larger down payment.
Mortgage Type
Description
Credit Score Requirements
Key Features
FHA Loan
Insured by Federal Housing Administration.
As low as 500 with 10% down.
Lower down payment requirements.
VA Loans
Backed by Dept. of Veterans Affairs.
Typically 620 (varies by lender).
No down payment required; no PMI.
USDA Loans
For homebuyers in rural/suburban areas.
640 for automatic underwriting.
No down payment required.
Disclosure: This table provides estimates; requirements and features can vary by lender and situation.
Related Credit Scores
Top Resources for a 600 Credit Score
Brand
Loans like Illinois Lending®
Comparing loan options can be tough, especially if you have good credit and lots of options to choose from. One…
Read More ›
Brand
Loans like Blue Eagle Credit Union®
Unexpected expenses happen, and in some cases, a loan can be a helpful solution to a short-term need. When looking…
Read More ›
Brand
Loans Like Net Pay Advance
Loans like Net Pay Advance include short-term loans that give fast cash with simple applications. These loans provide quick access…
Read More ›
Brand
Loans like LoanNow®
Many Americans turn to loans when they need extra funds to make ends meet. According to Statista, as of December…
Read More ›
Brand
Loans like 1F Cash Advance®
A loan is a commonly used option when someone needs to pay for an emergency or unexpected expense. If you…
Read More ›
Brand
Loans like Lendumo®
Lendmo is an online tribal lender that offers installment loans. Similar lenders to Lendmo include River Valley Loans, Mawka Finance,…
Read More ›Quick and easy Personal Loans up to $5,000*
Don’t let unplanned expenses ruin your budget. Apply today and get back on track.