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Posted on: 08 Mar 2025
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Your credit score is a crucial factor that affects various aspects of your financial life. If you have a credit score of 639, you might be wondering whether it is good, bad, or somewhere in between. In this blog post, we’ll explore what a 639 credit score means, how it affects your financial opportunities, and actionable steps you can take to improve it.
What Does a 639 Credit Score Mean?
A credit score of 639 falls within the Fair category based on the FICO and VantageScore models. Here’s a breakdown of credit score ranges:
300-579: Poor
580-669: Fair
670-739: Good
740-799: Very Good
800-850: Excellent
Since 639 is on the lower end of the Fair range, it indicates that while you may still qualify for credit, you may face higher interest rates and less favorable lending terms compared to those with higher scores.
How a 639 Credit Score Affects You
1. Loan and Credit Card Approvals
A score of 639 may qualify you for some loans and credit cards, but options will be limited. Lenders see this score as moderate risk, meaning you might need to provide additional documentation or accept higher fees to get approved.
2. Interest Rates
With a Fair credit score, you are likely to face higher interest rates on loans and credit cards. This can make borrowing more expensive over time, increasing the total cost of things like car loans, personal loans, or mortgages.
3. Renting an Apartment
Landlords often check credit scores before approving rental applications. A 639 score may not disqualify you, but you might be required to pay a higher security deposit or provide a co-signer.
4. Employment Considerations
Some employers check credit reports as part of their hiring process. While a 639 score isn’t necessarily a dealbreaker, a higher score could be more advantageous in job applications, especially for financial roles.
How to Improve a 639 Credit Score
If you have a 639 credit score and want to improve it, consider these strategies:
1. Pay Your Bills on Time
Payment history is the biggest factor in your credit score. Even one late payment can lower your score significantly. Set up automatic payments or reminders to ensure bills are paid on time.
2. Reduce Credit Utilization
Your credit utilization ratio (how much credit you’re using compared to your limit) should ideally be below 30%. If you have high balances, work on paying them down to improve your score.
3. Check Your Credit Report for Errors
Mistakes on your credit report can negatively impact your score. Obtain a free copy of your credit report from AnnualCreditReport.com and dispute any inaccuracies.
4. Avoid Opening Too Many New Accounts
Each time you apply for new credit, a hard inquiry is recorded on your report, temporarily lowering your score. Only apply for new credit when necessary.
5. Keep Old Accounts Open
The length of your credit history affects your score. Even if you don’t use an old credit card, keeping it open can help maintain a longer credit history and improve your credit score.
6. Consider a Secured Credit Card
If you have difficulty qualifying for traditional credit cards, a secured credit card can help. These require a security deposit but can build positive payment history when used responsibly.
7. Diversify Your Credit Mix
Having a mix of credit accounts (credit cards, installment loans, etc.) can improve your score. However, only take on new credit if it aligns with your financial goals.
How Long Does It Take to Improve a 639 Credit Score?
Improving your credit score is a gradual process. If you make consistent improvements, such as paying bills on time and reducing debt, you may see positive changes within a few months. However, significant improvements may take six months to a year or more, depending on the severity of past credit issues.
Conclusion
A credit score of 639 is considered Fair, meaning you have room for improvement. While you may still qualify for credit, you will likely face higher interest rates and limited financial opportunities. The good news is that by adopting smart credit habits—such as paying on time, reducing debt, and monitoring your credit—you can improve your score over time and gain access to better financial options.
By understanding the impact of your credit score and taking proactive steps to enhance it, you’ll be on the path to better financial health and improved borrowing opportunities. If you’re ready to take control of your credit, start making changes today!
Call on (888) 803-7889 to check your credit score now!
