Is 670 a Good Credit Score? Why 670 is an Okay Score


There are different types of credit scoring models used by lenders. The credit score helps a lender predict how likely it is that an individual will repay the money they borrow. Whether or not a 670 score is considered “good” will depend on the lender and the type of score being used to assess an individual’s risk level. The FICO credit scoring model is the most commonly used by lenders. The score is used to determine whether or not to extend credit, and also at what interest rate. A 670 FICO score is generally accepted as a “good” score by lenders which will allow the individual to qualify for credit, but not at the best interest rates.

FICO Credit Score Ratings

Scores Below 579: Very bad! Not only will you find it impossible to qualify for credit cards or loans, but you’re also going to experience higher car insurance premiums and may find it difficult to rent an apartment or get the job you want. You need to spend time repairing your credit before you try to get a loan or credit card with a score under 579.

Scores Between 580 and 619: Poor credit score range. There are some credit cards and loans designed for people with poor credit that you may qualify for, but you will pay the highest possible interest rates and finance fees to get it. It is in your best interest to focus on increasing your credit score before you apply for credit.


Scores between 620 and 659 are in the average credit score range. You will have more options for credit than people with lower scores, but you may still be denied credit from some lenders. When you do get approved for credit with a FICO score between 620 and 659, you should be prepared to pay high interest rates. Work on increasing your credit score to save money when you need to finance a purchase.

Scores Between 660 and 699: Good credit score range. Most creditors will approve you for loans and credit cards, but you won’t get the best interest rates. People with scores in this range may still find it difficult to get approved for larger types of financing, such as a mortgage.

Scores Between 700 and 749: Great credit score range. You shouldn’t have any problems getting approved for credit with a score in this range, provided you meet income and employment eligibility of the lenders you’re applying to. You’ll get very good interest rates on any financing you use.

Scores Over 750: Excellent credit score range. Provided you have income and meet other lender requirements, a FICO score over 760 will give you access to the best interest rates and loan terms on every type of financing available.

What to Do With a 670 Credit Score

Individuals with a 670 FICO credit score or lower may want to focus on credit repair activities before applying for new credit. While a score of 670 is generally considered “good” by the majority of lenders, you can save considerable amounts of money simply by increasing your score a few points to bring it into the “great” range. Make sure to pay all of your payments on time and reduce the amount of debt you currently have and you will probably see your score increase, giving you more options for financing and better interest rates.

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