Who Has a 620 Credit Score?

While age isn't a direct factor in credit scoring, there is a clear trend of scores increasing over time. According to a 2023 analysis, here are the average FICO scores by generation:

• 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 620 Credit Score

A credit score of 620 places you in the "fair" credit range, which can be a mixed bag when applying for new credit cards. While you'll likely find lenders willing to approve your application, your options may be limited to cards designed for building credit rather than premium rewards cards. You should also be prepared for potentially higher interest rates and annual fees, as lenders view this score as carrying more risk.

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Kudos simplifies the search for the right credit card with its AI-powered Explore Tool, which acts as a personalized matchmaker. Through a simple quiz, the tool identifies your needs—whether it's building credit, maximizing rewards, or finding low interest rates—and recommends cards from its database of nearly 3,000 options that best fit your financial profile.

Auto Loans and a 620 Credit Score

A 620 credit score places you in the non-prime category, meaning you can likely get approved for an auto loan but should expect higher interest rates than borrowers with better credit. According to a 2025 analysis, these rates can significantly increase the total cost of your vehicle over the life of the loan.

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

Mortgages at a 620 Credit Score

A 620 credit score is enough to get you in the door for several home loans. You'll meet the typical minimum for conventional loans and should easily qualify for FHA and VA loans. Some USDA lenders also accept a 620 score. However, you likely won't be eligible for jumbo loans, which generally require a score of 700 or higher. This score makes homeownership possible, but you are considered a higher-risk borrower.

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While you can get a loan, a 620 score will impact your terms. Lenders may apply stricter underwriting and require more documentation. You can also expect a higher interest rate—borrowers in this range saw average rates around 7.8% in mid-2024, compared to 6.2% for top-tier applicants. For conventional loans with a low down payment, this also means paying more for private mortgage insurance (PMI).

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 generally boils down to a handful of key elements. The most common factors include:

• Your history of making payments on time is the most significant factor.
• How much of your available credit you're currently using, known as your credit utilization ratio, plays a major role.
• The age of your credit accounts, including the average age and the age of your oldest account, is also considered.
• Lenders like to see that you can responsibly manage different types of credit, such as credit cards and loans.
• Opening several new credit accounts in a short period can be seen as a risk and may temporarily lower your score.

How to Improve Your 620 Credit Score

Your credit score plays a crucial role in your financial life, but it's not set in stone; it is always possible to improve your creditworthiness and build a healthier financial profile. Meaningful changes can often be seen within three to six months of consistent, positive behavior.

• Monitor your credit reports. Regularly checking your reports helps you spot and dispute inaccuracies that could be dragging down your score. This also allows you to track your progress and ensure your positive financial habits are being reported correctly.
• Set up automatic bill payments. Since payment history is the most significant factor in your score, automating payments ensures you never miss a due date. This builds a positive payment history over time, which is essential for moving from a fair to a good credit score.
• Lower your credit utilization ratio. High balances on credit cards can significantly lower your score, and keeping your utilization below 30% is a key goal. Paying down balances is one of the fastest ways to see a score increase, as it shows lenders you can manage credit responsibly.
• Become an authorized user. If you have a limited credit history, being added to an account with a long, positive history can help build your own file. This strategy allows you to benefit from the primary account holder's on-time payments and low credit utilization.

While working to improve your score, you can make smarter spending decisions with tools like the Kudos browser extension.