By CreditNinja Reviewed by Matt Mayerle
Modified on June 13, 2024

Most credit bureaus will label a 655 credit score as “fair” credit.

Consumers with this type of score may be considered a high lending risk and, therefore, may have trouble finding loans with low interest rates or favorable repayment terms. According to the credit bureau Experian, approximately 17% of consumers have credit scores that fall in the “fair” credit range.1

But how do you go about improving fair credit scores? Here, you’ll learn about the implications of having a credit score like 655 and what you can do to boost your score and start reaping the benefits of good credit!

Key Takeaways for a 655 Credit Score

Overview of Your
Credit Rating

655 is considered fair credit. However, this score is towards the top of this range, so improvement to a good credit score is possible.

Borrowing Options With a
655 Credit Score

Lenders may be wary of lending to fair credit borrowers, so finding a good deal on a loan will take some research.

Improving a 655
Credit/FICO Score

Consumers with fair credit can improve their scores by making payments on time, lowering credit utilization, and avoiding new debt inquiries.

Is a 655 Credit Score Good?

According to most credit scoring models, 655 is considered a fair credit score. Typically, credit scores between 580 and 669 are considered fair credit scores. And so, at 655, you are towards the top of this credit tier. By adopting healthy financial habits and keeping tabs on your budget and spending, you can improve your score to progress into the “good” credit range!

What Can I Get Approved For?


4.4 Trustpilot Rating

  • Rewards checking
  • Personal loans
  • Upgrade OneCard
  • Premier savings

Upgrade is a finance company that provides affordable and responsible credit products to borrowers in need. They offer spending cards and personal loans. Loans range from $1,000 to $50,000, and personal credit line cards range from $500 to $25,000.

Min Credit Score Depends on the Product You Choose

Consumer Credit Union

4.8 Ninja Star Rating

  • Personal loans & auto loans
  • Mortgages
  • Credit cards
  • Banking solutions

Like other credit unions, Consumers Credit Union is an open-to-the-public, not-for-profit institution. This credit union offers a wide range of products and services to members—checking, savings, debit and credit cards, vehicle and consumer loans, money market accounts and certificates.

Check out Their Website for More Information on Products and Services


4.0 Ninja Star Rating

  • Installment or revolving credit
  • Flexible pricing
  • Build credit history
  • Build your savings

CreditStrong offers safe and secure solutions to help borrowers build credit. CreditStrong offers two different types of accounts: installment and revolving. These accounts are a combination of a savings account and either a secured installment loan or a secured revolving line of credit. 

No Minimum Credit Score Required

Personal Loans

A personal loan is a form of funding consumers can use for just about any expense, as there are products ranging from a few hundred dollars to a few thousand dollars. While interest rates and terms are usually based on the borrower’s credit history, there are personal loan lenders who specialize in providing bad credit loans

Bank Loans

Bank loans are funding provided by a commercial or local bank. Usually, people use loans from a bank to cover large expenses. Since funding amounts for bank loans are usually higher, these kinds of institutions typically only work with very good or excellent credit consumers. 

Credit Union Loans

In lieu of a bank loan, fair credit consumers may have a better chance of finding approval with a credit union loan. Credit unions typically offer a variety of financial products, including installment loans and credit builder loan products. However, keep in mind you will have to become a member in order to get funding from a credit union. 

Credit Cards

Instead of getting a loan, you may also opt for a revolving line of credit. While credit card issuers will also base your interest rates and terms on your credit scores and financial history, you can bypass those interest rates by paying off your balance in full every month. When you fully pay off your credit card balance regularly, credit cards can help consumers establish credit, avoid accumulating more debt, and pay for various expenses! 

Secured Credit Cards 

Traditional credit cards can be convenient, but they can also add to your existing debts if you don’t pay off your balance regularly. According to the Federal Reserve Bank of New York, Americans owe approximately $1.13 trillion in credit card balances.2 

If you want the benefits of a credit card but have fears about your balance getting out of hand, consider a secured credit card. With secured credit cards, you’ll put down a security deposit that will act as a backup for your credit limit

Car Loans

A car loan is funding for purchasing a new or used vehicle. With fair credit, it’s possible to get decent rates on a car loan, but you’ll definitely have to shop around. Consider bringing a car-savvy friend or family member with you when you go car shopping to help you find the best deals!

Products to Help Improve a 655 Credit Score

Credit Report Monitoring

Professional credit monitoring services can help you keep an eye on your general credit report as well as notify you about any errors, inconsistencies, or suspicious activity. Some of the most popular credit monitoring services include: 

  • CreditWise® from Capital One
  • Experian free credit monitoring
  • IdentityForce®
  • Privacy Guard™
  • Experian IdentityWorks℠
  • FICO® Advanced

Check Credit Reports on Your Own

In addition to professional credit monitoring, you should also be checking your credit reports from the three major credit bureaus on a regular basis. You can access your free credit score report from each of the credit bureaus at least once a year. However, you may also want to pull soft credit reports so you can check on your score more often.

Monitoring your credit often can help you keep an eye on your improvement progress and detect any suspicious activity. Borrowers can view their credit score by looking at their monthly credit statements, using a credit score service, or through their bank. 

Budgeting Apps

Budgeting apps can help you track your spending, payments, and other financial data. Some popular apps you can download today include: 

  • Good Budget
  • YNAB (You Need a Budget)
  • EveryDollar
  • Honeydue
  • PocketGuard
  • Empower Personal Wealth

Credit Boosting Programs

You should also consider credit-boosting programs like Experian Boost to help improve your credit history. Experian Boost informs credit bureaus of payments they may not have been aware of before, such as on-time payments for your subscription services, rent, or utilities. That way, you can add some extra positive payment history to your credit report! 

Benefits of Improving a 655 Credit Score

Some benefits consumers with good credit scores can enjoy are: 

  • Higher credit limit on loans and lines of credit 
  • Faster approval on more loan products 
  • Lower interest rates 
  • Pre-approval offers and other perks!

How to Improve Your 655 Score

With a sound financial plan in place, you can start to improve your credit score so you can take advantage of all those awesome benefits! Here are a few tips on things you can do: 

  • Watch your payment history: One habit of practically everybody with a good credit score is making all their due payments on time. To avoid having late or missed payments on your credit profile, consider signing up for autopay! 
  • Keep credit utilization low: Usually, consumers with higher credit scores have a credit utilization ratio of 30% or lower. 
  • Prioritize paying off debt: In addition to making your payments on time, consider contributing more than your minimum amount due to save money on interest rate charges and pay off your debts faster!

Try to limit applications for new credit accounts: Consider holding off on applying for new loans and credit accounts until you have a higher credit score.

FAQs About 655 Credit Scores

While options may be limited, some issuers offer rewards cards for fair credit. Research and compare to find cards with benefits that align with your spending habits.

Having a co-signer with a higher credit score can improve your loan approval odds and potentially secure better terms, as it reduces the lender’s risk.

Closing old accounts can actually lower your score by affecting your credit history length and utilization ratio. It’s often better to keep them open, especially if they have a positive history of making payments on time.

What Interest Rate Can I Get With a 655 Credit Score?

Purchasing a home is a notoriously challenging process. With a fair credit score, you may have a harder time finding approval for a traditional mortgage. Thankfully, there are options like FHA loans that can make it easier for low-credit consumers to buy a home. Typically, the minimum credit score required for an FHA loan is 580. So, with a 655 credit score, you may qualify for a mortgage through the Federal Housing Administration. 

Top 5 Resources for a 655 Credit Score

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