Is 628 a Good Credit Score? Understanding and Improving Your Creditworthiness


In the realm of personal finance, credit scores play a pivotal role in determining an individual's creditworthiness. A credit score acts as a numerical representation of your credit history and financial responsibility. One common question that arises is, "Is 628 a good credit score?" Let's dive into the intricacies of credit scores, what a score of 628 means, and how you can enhance your creditworthiness.

Is 628 a Good Credit Score?

A credit score of 628 falls within the range of "Fair" credit scores, as defined by most credit reporting agencies. While it's not classified as "Excellent" or "Very Good," a score of 628 isn't necessarily bad either. It indicates that you have some positive credit history but may also have some past credit issues that could impact your ability to access credit or loans with the best terms.

Understanding Credit Score Ranges

Credit scores generally fall into the following ranges:

  • Poor: 300 - 579
  • Fair: 580 - 669
  • Good: 670 - 739
  • Very Good: 740 - 799
  • Excellent: 800 - 850

A score of 628 places you in the "Fair" range, indicating room for improvement but also suggesting that you have demonstrated financial responsibility to some extent.

Factors Affecting Your Credit Score

Several factors contribute to your credit score, and understanding them is crucial for improvement:

  1. Payment History

Your payment history is a significant factor. Late payments, defaults, and bankruptcies can have adverse effects on your credit score.

  1. Credit Utilization

This refers to the proportion of your available credit that you're currently using. High credit utilization can negatively impact your score.

  1. Length of Credit History

A longer credit history often portrays stability and can positively influence your score.

  1. Types of Credit

A diverse credit portfolio, including credit cards, mortgages, and loans, can have a positive effect on your credit score.

  1. New Credit

Frequent applications for new credit can be seen as risky behavior and may lower your score temporarily.

Tips for Improving Your Credit Score

Elevating your credit score requires consistent effort and responsible financial behavior:

  1. Pay Bills on Time

Timely payments are a fundamental aspect of maintaining a healthy credit score. Set up reminders or automatic payments to ensure you never miss a due date.

  1. Reduce Credit Card Balances

Lowering your credit card balances in proportion to your credit limits can positively impact your credit utilization ratio.

  1. Limit New Credit Applications

Avoid applying for multiple new credit accounts within a short period, as this can be interpreted as a sign of financial instability.

  1. Regularly Check Your Credit Report

Monitor your credit report for errors or inaccuracies. Dispute any discrepancies you find to ensure an accurate reflection of your credit history.

  1. Increase Credit Limits

Requesting a credit limit increase on your existing credit cards can improve your credit utilization ratio, provided you don't increase your spending.

  1. Use a Mix of Credit Types

A diverse credit mix, including both revolving credit (credit cards) and installment loans (mortgages, car loans), can demonstrate your ability to manage different types of credit responsibly.

Frequently Asked Questions (FAQs)

How Long Does It Take to Improve a 628 Credit Score?

The timeline for credit score improvement varies based on individual circumstances. With consistent positive financial behavior, you could see improvements in as little as a few months.

Can I Get a Loan with a 628 Credit Score?

While you might still qualify for loans, a higher credit score typically leads to better interest rates and more favorable loan terms.

Will Closing Old Accounts Improve My Score?

Closing old accounts can potentially harm your credit score, especially if they have a positive payment history. Keeping them open can contribute to a longer credit history.

How Often Should I Check My Credit Score?

You should check your credit score at least once a year to identify any potential issues. Many financial institutions also offer free credit score monitoring services.

What Happens If I Declare Bankruptcy?

Bankruptcy can significantly lower your credit score and stay on your credit report for several years. However, with time and responsible financial behavior, you can work towards rebuilding your credit.

How Can I Build Credit if I'm New to Credit?

Start by applying for a secured credit card or becoming an authorized user on someone else's credit card. Make small purchases and pay them off on time to establish positive credit history.


In the world of personal finance, a credit score of 628 may not be classified as excellent, but it falls within the "Fair" range. This means you have room for improvement and the potential to enhance your creditworthiness. By understanding the factors influencing your credit score and adopting responsible financial habits, you can work towards achieving a better credit score over time. Remember that credit scores are dynamic and can change based on your actions, so focus on consistent positive behavior to reap long-term benefits for your financial future.

Want a higher credit score? Talk to our specialists now at (888) 804-0104 and pave the way for a brighter financial future.