A 633 credit score is considered slightly below average and is categorized in the “fair credit score” group. Despite the fact that you are not in the poor score category, there is still so much room for growth, and you should take advantage of it. Think of your score as a stepping stone to bigger...
A 619 credit score is a fair credit score, putting you side by side with the average American. It is not a bad score, but it is also not excellent. When lenders see a 619 FICO score they will most likely not show an unwillingness to work with you, but they will end up giving you higher interest rates. Throughout this article, we will touch upon a 619 credit score meaning, different routes that you can take with a credit score of 619, and how you can improve upon your score for the future.
- Is 619 a good credit score?
- Credit cards for a 619 credit score
- Car loan with a 619 credit score
- Personal loan for a 619 credit score
- Mortgage with a 619 credit score
- How to improve a 619 credit score?
Is 619 a good credit score?
For those of you that are wondering, “is 619 a good or bad credit score?”, the answer is that it is on the lower side of the middle. It is not an awful score, but there is so much more room for improvement. The interest rates for 619 credit score that you will face will be much steeper than preferred, so it is better to start completing the steps to improving your score right away. Although it is not considered a poor credit, many companies dislike credit scores this low, and you might face hesitation during the application process. To combat this lack of trust, they will most likely request collateral of some sorts.
Credit cards for a 619 credit score
Do not worry about finding credit card methods for this score. 619 is not too low that you will need a secured credit card to get approved on the application. There are many unsecured credit cards for 619 credit scores that will help you build your credit along the way. This way, you do not have to pay a deposit or treat the card like a debit card. Here is a list of our favorite credit cards for a 619 score.
Capital One QuicksilverOne Cash Rewards Credit Card
This credit card gives you a flat rate of cashback rewards. It offers those with average credit a chance to earn rewards and build their credit along the way.
Upgrade Visa Card
This card is a great pick because there is no annual fee. It will also earn you 1.5 percent back on all purchases. If you prefer consistent cashback, this may be the card for you.
Petal 1 Visa Credit Card
This card also has no annual fee and is another great choice for those who are looking to build their credit with an existing fair credit score. It has a much more generous credit limit than other cards would allow with a 619 score. The limit ranges from $500 to $5,000.
Deserve EDU Mastercard for Students
If you are in school, this could be a great option for you! It is great for domestic and international students as a starter card. If you spend $500 in the first three billing cycles, the card will reward you a statement credit for a 12-month Amazon Prime Student membership!
Car loan with a 619 credit score
A 619 credit score auto loan is tough. We have to be honest with you. However, it is not impossible. Many companies are willing to overlook the fair credit score in exchange for higher interest rates. Even though this may not be ideal, you will probably not find a car loan interest rate with 619 credit score for much lower than what they are willing to offer you.
You must search for the best rates for a car loan with a 619 credit score, and there will be a lot of options for you to choose from. Check with your local bank, credit union, dealership, and online lenders before making a permanent decision. The following graphic is a table with auto loan rates that you are most likely to receive with each prospective score according to experian.com:
Personal loan for a 619 credit score
It will be difficult for you to get approved for a 619 credit score personal loan, but not unheard of. Loans for a 619 credit score can be found if you are looking in the right place. Many personal loan lenders will work with borrowers who have a fair score. When trying to get a loan with a 619 credit score, you must review your score ahead of time to make sure there are no errors. Compare lenders and choose the best loan option for you. It is easy to only consider rates when they are so high, but also consider the repayments terms and associated fees.
The following graphic is a table with personal loan rates that you are most likely to receive with each prospective score according to bankrate.com:
|Score Range||Interest Rate|
Mortgage with a 619 credit score
Many people feel ready to buy a house even with a fair credit score. They could have all the other assets needed but are lacking the score for various reasons. A 619 credit score mortgage is doable for sure, but you will need to complete your research so that you find the best option. Getting a mortgage with a 619 credit score will take some hard work for sure, but it will all be worth it in the end when you are settling into your new home.
Please keep in mind when you are looking for home loans with a 619 credit score, you are just 1 point away from meeting the minimum credit score requirement for a conventional loan. It may be worth waiting to apply for a mortgage until your credit is above a 620 score, since better options may be available to you then. 619 credit score mortgage rates will be much higher, and waiting for a single point will not take too much time. The following graphic is a table with personal loan rates that you are most likely to receive with each prospective score according to bankrate.com:
|Score Range||Average Interest Rate|
How to improve a 619 credit score?
The good thing about a 619 credit score is that there is so much room for growth and improvement. Here are our best tips to help you move your score from fair to excellent.
Make payments on time
Making your monthly payments late is the number one reason why your credit score may decrease. Having consistent on-time payments can increase your score quickly. Your score is a measure of how likely you are to pay back money borrowed, so by creating a positive history of making payments on time, you will be on your way to a new and improved score.
Keep your utilization rate low
Although your credit limit is the maximum amount that you can spend before being required to pay the money back, it is not what you should be spending a month to month. It is always better to keep your credit utilization low so that credit bureaus are aware that you do not need the full extent of the money lent. The golden rule is to keep your utilization ratio under 30 percent at all times. It is much easier to complete this task if you make frequent payments. This means that you pay multiple times per month. This keeps your credit utilization low while still being able to spend more money every month.
Check your credit report often
Errors happen all the time, and they might be sitting around on your credit report without you knowing. Many companies will attempt to make hard inquiries on your score without your proper consent. This will decrease your score by many points. You can avoid this by staying on top of your report and identifying these inaccuracies immediately. They can then be disputed with credit bureaus, and your score will go back to where it was.
Try credit improvement companies
Many consumers are not aware that there are professional companies that exist to improve your credit. Companies like CreditRepair, Lexington Law, and Credit Saint, all have methods to give your score a boost. When in doubt, it is always best to have the pros take a look and see what is wrong. By using these companies, your score can increase quickly in just a couple of months.
Building a positive credit history takes time and effort. To improve your score, it is important to focus on the proper steps and put in the effort. A 619 score can get you credit cards, auto loans, personal loans, and even a mortgage. This comes at the cost of high rates, so it is better to wait until your score is at a better rank. Good luck in loan hunting and improving your scores!