Who Has a 605 Credit Score?

While individual financial situations differ, data reveals a distinct pattern where credit scores generally improve with age. According to Experian data from 2023, the average FICO score for different generations breaks down as follows:

• Generation Z (ages 18-26): 680
• Millennials (ages 27-42): 690
• Generation X (ages 43-58): 709
• Baby Boomers (ages 59-77): 745
• Silent Generation (ages 78+): 760

Credit Cards With a 605 Credit Score

A credit score of 605 falls into the "fair" credit range, which can present some hurdles when you're applying for a new credit card. While approval isn't impossible, many lenders may view this score as a sign of higher risk, potentially leading to rejections for premium rewards cards. If you are approved, you might find the offers come with higher interest rates, lower credit limits, and annual fees compared to those available to applicants with good or excellent credit.

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To find the right card for your financial situation, Kudos provides tools like the Dream Wallet, which analyzes your real-time spending to offer personalized recommendations from a database of nearly 3,000 cards. The platform also provides insights into how a new card could affect your credit score, helping you choose an option that aligns with your financial health.

Auto Loans and a 605 Credit Score

A 605 credit score falls into the non-prime category, meaning you can likely get an auto loan, but you'll face higher interest rates than borrowers with better credit. Lenders see this score as a greater risk, which translates to more expensive financing terms.

Based on a 2025 guide, here are the average rates for new and used car loans by credit score:

• Super-prime (781-850): 5.25% for new cars and 7.13% for used cars.
• Prime (661-780): 6.87% for new cars and 9.36% for used cars.
• Non-prime (601-660): 9.83% for new cars and 13.92% for used cars.
• Subprime (501-600): 13.18% for new cars and 18.86% for used cars.
• Deep subprime (300-500): 15.77% for new cars and 21.55% for used cars.

Mortgages at a 605 Credit Score

A 605 credit score is below the 620 minimum for most conventional loans, but you still have options. Your most accessible path is likely an FHA-insured loan, which allows scores of 580 or higher with a 3.5% down payment. While some VA or USDA lenders may consider your application, an FHA loan is the most probable route to homeownership at this credit level.

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However, this score impacts your loan's terms. Expect higher interest rates than borrowers with better credit. With an FHA loan, you must also pay mortgage insurance premiums, increasing your monthly costs. Lenders will likely apply stricter underwriting, scrutinizing your finances more closely before offering an approval.

What's in a Credit Score?

Figuring out what goes into your credit score can feel like trying to solve a complex puzzle, but it's primarily based on a handful of key financial habits. The most common factors include:

• Your payment history tracks whether you have paid past credit accounts on time.
• Credit utilization is the percentage of your available credit that you are currently using.
• The length of your credit history considers the age of your oldest account and the average age of all your accounts.
• Having a healthy mix of credit types, such as credit cards and installment loans, can positively impact your score.
• Recent credit inquiries and newly opened accounts can temporarily lower your score.

How to Improve Your 605 Credit Score

Improving your credit score is always possible with consistent, positive financial habits. According to an expert guide for 2025, there are several proven methods to boost your creditworthiness and build a healthier financial profile.

• Monitor your credit reports. Regularly checking your reports helps you spot and dispute inaccuracies that could be dragging your score down. This also allows you to track your progress as you work on improving your credit.
• Set up automatic bill payments. Your payment history is the single most important factor in your credit score, so ensuring you pay on time is critical. Automating payments is a simple way to build a positive history and avoid late fees.
• Reduce your credit utilization ratio. This ratio is the second-most influential factor in your score, and keeping it below 30% is a key goal. Paying down balances or requesting a credit limit increase can quickly improve this metric and boost your score.
• Become an authorized user. If you have a trusted friend or family member with a strong credit history, being added to their account can help your score. Their positive payment history and low credit utilization will be added to your credit file.

To help maximize rewards while you build your credit, consider using a tool like the Kudos browser extension.