Is 659 a Good Credit Score? Understanding the Importance of Your Credit Score


Your credit score is like a financial report card that lenders use to determine your creditworthiness. A good credit score opens doors to favorable interest rates, better loan terms, and various financial opportunities. But what exactly does a credit score of 659 mean? Is 659 a good credit score, or is there room for improvement? In this comprehensive guide, we'll delve into the details of a credit score of 659, its significance, and how it can impact your financial life.

Is 659 a Good Credit Score?

A credit score of 659 falls in the range that is generally considered "Fair." While it's not a bad score, it also isn't in the "Good" or "Excellent" range. Lenders may view this score as an indicator that you might be slightly more risky to lend to compared to individuals with higher scores. However, there are still plenty of financial opportunities available to you. With a bit of effort, you can work towards improving your credit score and securing better financial deals.

Understanding Credit Scores and Their Categories

Credit scores typically fall within different categories, each of which reflects a different level of creditworthiness. These categories include:

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

While a score of 659 places you in the "Fair" category, remember that credit score ranges can vary slightly depending on the credit reporting agency.

The Impact of a 659 Credit Score

Limited Access to Low-Interest Rates

Having a credit score of 659 may limit your access to the most competitive interest rates. While you can still qualify for loans and credit cards, you might not be eligible for the lowest rates available. This can result in paying more interest over time, especially on larger loans like mortgages.

Approval for Credit Applications

With a credit score of 659, you can generally expect to be approved for credit applications. However, the terms and conditions offered to you might not be as favorable as those offered to individuals with higher credit scores. Be prepared for slightly higher interest rates and potentially lower credit limits.

Employment Opportunities

Some employers may consider credit scores as part of their hiring process, especially for roles that involve financial responsibilities. While a credit score of 659 is not extremely low, maintaining or improving your score can positively impact your employability in such positions.

Tips for Improving a 659 Credit Score

  • Check Your Credit Report: Obtain a copy of your credit report and review it for errors or inaccuracies. Dispute any discrepancies you find to ensure your score is calculated accurately.
  • Pay Bills on Time: Consistently paying your bills on time is one of the most effective ways to boost your credit score over time.
  • Reduce Credit Utilization: Aim to keep your credit card balances below 30% of your credit limit. Lower credit utilization can have a positive impact on your score.
  • Diversify Your Credit Mix: Having a variety of credit types, such as credit cards and installment loans, can demonstrate responsible credit management.
  • Limit New Credit Applications: Opening multiple new credit accounts in a short period can negatively affect your score. Apply for new credit sparingly.
  • Use Credit Responsibly: Only borrow what you can afford to repay. Avoid maxing out your credit cards or taking on excessive debt.

Frequently Asked Questions (FAQs)

Can I Get a Loan with a 659 Credit Score?

Yes, you can still get a loan with a credit score of 659. However, the terms and interest rates might not be as favorable as those offered to individuals with higher scores.

How Long Will It Take to Improve My Credit Score?

Improving your credit score is a gradual process that depends on various factors, including your credit history and how consistently you follow good credit habits. It might take several months to see significant improvements.

Will Closing Old Accounts Help Improve My Score?

Closing old accounts can actually have a negative impact on your credit score. These accounts contribute to the length of your credit history, which is an important factor in your score calculation.

Can I Check My Credit Score for Free?

Yes, you're entitled to a free credit report from each of the major credit bureaus once a year. Many online platforms also offer free access to your credit score.

How Can I Build Credit if I Have No Credit History?

If you have no credit history, consider starting with a secured credit card or becoming an authorized user on someone else's credit card. Responsible use of credit will help you establish a positive credit history.

Will Settling Debts for Less Than I Owe Hurt My Credit Score?

Settling debts for less than you owe, also known as a debt settlement, can have a negative impact on your credit score. It's important to explore other options and consider the long-term consequences before pursuing this route.


In the world of personal finance, a credit score of 659 is a stepping stone. While it may not be classified as "Good," it still opens doors to various financial opportunities. Whether you're aiming to secure a loan, get approved for a credit card, or even land a job, your credit score plays a role. By understanding its significance and following sound financial practices, you can work towards improving your credit score over time. Remember, every step you take today contributes to a brighter financial future tomorrow.

Improve your credit, improve your life. Dial (888) 804-0104 to receive expert tips on elevating your credit score.