Although the number 666 may evoke superstitions in some people, in the context of credit scores, this three-digit figure is regarded as fair rather than negative. If your credit score is 666, even a small improvement could help you get much better terms on a lot of loans. Additionally, it might increase your chances of getting accepted for credit cards with benefits and low annual percentage rates.
Yo, credit fam! Let’s talk about a number that’s often associated with the devil, but in the world of finance, it’s just another score: 666. Is it a good credit score? Well, buckle up, because we’re diving deep into the credit score abyss to find out!
What’s the Deal with 666?
First things first, a 666 credit score falls into the “fair” category. It’s not the worst, but it’s not the best either. Think of it as being stuck in the middle of a credit score sandwich.
Is It a Good Credit Score?
Not really, fam. While it’s not the worst score out there it’s not gonna win you any awards either. With a 666, you might struggle to get approved for loans and credit cards with the best terms and rates. Think of it like trying to get into a VIP club with a regular pass – you might get in, but you won’t get the same perks as the bigwigs.
So, What Can You Do?
Don’t fret, fam! There’s always room for improvement. Here are some tips to boost your credit score from “fair” to “fantastic”:
- Pay Your Bills on Time: This is like the golden rule of credit. Late payments can haunt your credit report for years, so make sure you’re always on time, every time.
- Keep Your Credit Utilization Low: This means using less than 30% of your available credit. Think of it like using only a third of your phone’s battery – you’ll have plenty left for when you need it most.
- Become a Credit Card Ninja: Use your credit card responsibly and pay it off in full each month. This shows lenders that you’re a responsible borrower and can handle credit like a boss.
- Don’t Apply for Too Much Credit: Every time you apply for a new credit card or loan, it can ding your credit score. So, be strategic and only apply for credit when you really need it.
What Can You Expect with a 666 Credit Score?
- Credit Cards: You might be able to get approved for some unsecured credit cards, but expect higher interest rates and annual fees. Think of it like paying a premium for a concert ticket – you’ll get in, but it’ll cost you.
- Loans: You might qualify for loans, but the interest rates might be higher than someone with a stellar credit score. Think of it like paying extra for a taxi ride – you’ll get to your destination, but it’ll be a bit more expensive.
The Bottom Line
While a 666 credit score isn’t disastrous, it also isn’t the start of a credit fairy tale. You can improve your credit score and open up a world of better credit options with a little work and some wise financial decisions. Remember, it’s a marathon, not a sprint, so stay focused and keep hustling!.
666 credit score: Key findings
- Anonymized data from a 2019 LendingTree study shows that 1 in every 250 Americans has a credit score of 666.
- Oklahoma City has the largest proportion of customers with a 666 score, with 0 71% of consumers sport this score. At the other end of the spectrum, only 0. 1% of consumers in Buffalo, N. Y. , have a credit score of 666.
- Across all debt categories, consumers with a credit score of 666 have larger balances than the average. They carry an average balance of $10,298% on their credit cards, which is 20%E2%80%94%2059% more than the average borrower who signed up for LendingTree.
- Even a small improvement in a 666 credit score can lead to far more alluring loan rate offers. The distinction is most noticeable when it comes to personal loans: new data from LendingTree indicates that a 666 credit score increase of 20 points can lower the average annual percentage rate (APR) of a personal loan from 24 74% to 19. 04%.
- Rates for additional loan products rise in tandem with marginally higher credit scores. Additionally, a higher credit score increases the likelihood of being accepted for a credit card that rewards you or allows you to transfer balances, as many of these cards need a good credit score, which is typically 670 or higher.
- Keep in mind that a 666 credit score isn’t all that different from a 665 or 667 score. A portion of the unease surrounding this score stems from the number’s association with evil in the Book of Revelation. However, it serves as a useful illustration of how “meh” credit impacts your finances and how to get better.
Reasons why you may have a 666 credit score
A borrower’s credit score is largely determined by the amount they owe, with timely payments coming in second. Therefore, it is not surprising that borrowers with a 666 score who applied for loans through LendingTree have larger debt loads than the general public.
Specifically, their credit card balances are significantly higher: according to an anonymized sample taken in October 2019, their average credit card balance of $10,298 is greater than the average credit card balance of $6,479 They also have higher balances on auto, student and personal loans.
Another reason you might have a 666 credit score is because of late payments. Of those with a FICO credit score of 666, 41% have late payments that are 30 days overdue. Make sure to pay your bills on time and catch up on any past-due payments to raise your credit score.
Continue reading to find out more about how you can get better loan terms and rates by raising your credit score.
The Number of the Beast: 666 (your credit score!)
FAQ
Can I buy a house with a 666 credit score?
How bad is a credit score of 666?
Can I get a car with a 666 credit score?
Can I get a credit card with a 666 credit score?
Is 666 a good credit score?
What’s more, your score of 666 is very close to the Good credit score range of 670-739. With some work, you may be able to reach (and even exceed) that score range, which could mean access to a greater range of credit and loans, at better interest rates. The best approach to improving your credit score starts with a check of your FICO ® Score.
What is a 666 FICO ® score?
A 666 FICO ® Score is a good starting point for building a better credit score. Boosting your score into the good range could help you gain access to more credit options, lower interest rates, and reduced fees.
Is 666 a bad number?
While some might have superstitious reactions to the number 666, in the world of credit scores this three-digit number is considered fair rather than bad.
How much credit card debt does a 666 score mean?
Among consumers with a FICO ® Score of 666, the average credit card debt is $13,429. Payment history. Delinquent accounts and late or missed payments can harm your credit score. A history of paying your bills on time will help your credit score.