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What is a Fair Credit Score?

4 min read

Last Updated: November 13, 2024

Table of contents

Key Takeaways

On the FICO® Score scale¹, a fair credit score is 580 to 669.
Consumers with a fair credit score may have missed payments in the past and/or have higher levels of credit card debt.
One of the best ways to improve a fair credit score is to make on-time payments.

Have you recently checked your credit and found you fall within the fair credit score range? Are you wondering what, exactly, a “fair” credit score means? Here, we’ll discuss what a fair credit score is, how a fair credit score may affect your ability to get a loan or credit card, and tips for improving a fair credit score.

What’s a fair credit score?

There’s no single number that’s considered a fair credit score; it’s actually a range of numbers defined by credit scoring models. One of the most widely used scoring models is called a FICO^® Score. 90% of top lenders use FICO^® Credit Scores, including Discover.¹

According to the FICO^® Score scale,¹ a fair credit score is 580 to 669. If you have a score in this range, your credit history may include missed payments or high credit card debt. In the fair credit score range, you may not be offered the best loan terms and may not qualify for some types of credit.

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The FICO® Credit Score ranges

There are five credit score ranges in the FICO^® Score scale.¹

Exceptional—800 to 850
Very good—740 to 799
Good—670 to 739
Fair—580 to 669
Poor—579 or less

Other fair credit score ranges

FICO is just one example of a credit scoring model. Other scoring models may calculate your score differently. A FICO^® Credit Score of 580 is considered fair, but the same score might have a different meaning to a lender who uses another scoring model. For example, according to Experian^®, the fair credit score range from VantageScore^® is 601 to 660. So, a 580 credit score would be considered poor on the VantageScore scale.

But say you work hard to responsibly use your credit for months and improve your credit score to 668. You’d still have a fair FICO^® Credit Score, but on the VantageScore scale, you’d now be considered in the good credit score range.

How fair credit scores are determined

Scoring agencies calculate your score using the information on your credit report. Your credit report information comes from your credit activity. Lenders, like credit card companies, report your activity to the three major credit bureaus that create your credit reports. So, your unique credit history ultimately determines what your credit score is at a given time. Your score changes as you continue to use credit. You might have a score in the fair range today, but you may reach a good credit score after a few months of responsible credit use.

Also, keep in mind that some lenders share your credit history with each major credit bureau, but others may share your activity with just 1 or 2 of them. That means your credit scores and credit reports may differ across the credit bureaus based on the information they’ve received.

Stay on top of your fair credit score

If you want to change your fair credit score, there are several things you can do to influence it. Two important steps are:

Make on-time payments: The most important factor in FICO^® Credit Scores1 is your payment history, or track record of making payments on time. By paying at least the minimum payment due each billing cycle, you can keep your account in good standing.
Avoid too much credit card debt: Your score also takes into account your credit account balances–how much credit you’re using compared to the total amount of available credit you have. This is called your credit utilization ratio. A low credit utilization ratio can show that you manage your debt responsibly.

Why good credit scores are important

Lenders view your credit score as an assessment of your financial capability. The difference between a fair credit score and a good credit score may determine the terms of a new credit account. Fair credit scores may prevent you from being approved for new bank loans, mortgages, or lines of credit, like credit cards. Or a lender may approve your application, but offer you a lower credit limit or a higher interest rate than you’d receive with a good credit score.

Did You Know

If you have a fair credit score and are wondering what types of cards you may qualify for, you can use the Discover pre-approval form to see if you’re pre-approved with no harm to your credit score.²

See if you’re pre-approved

A fair credit score may not be a problem for you if you don’t have any immediate credit needs. But if you think you’ll want to apply for a personal loan, new credit card, auto loan, or a home mortgage in the future, you may want to start working toward a higher credit score to help your chances of getting approved and landing better terms.

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