Picture this: you’re facing the application form to get a credit card, a mortgage, or even a student loan. You might be wondering: is my 650 credit score good enough?

There is no easy way to answer this. So, we’ll do the work to explain how this three-digit number will impact your life. Will it help you or trip you up? Let’s find out.

The good news is this: a 650 credit score is not bad. However, the bad news is that it ain’t good either. Yes, you’re in the middle term.

650 is called a fair credit score. Fair enough? For some creditors, it might be enough. But for more demanding credit card issuers, you’ll get a “not this time.” 

Your credit score will always impact the interest rates of your loan or credit card. So, if your lender says it won’t, you’ll know they are winding you up with pretty words.

Lenders use credit scores to assess the risk of lending you money. The higher your credit score, the lower the perceived risk, and the more favorable the terms of your loan offer.

However, with a 650 credit score, you can still get fair interest rates. Things get complicated when you reach a bad or poor range of credit scores.

So, if you want to avoid the scary high-interest rates, always work your credit score to the top.

With a credit score of 650, you may still be able to qualify for certain credit cards. However, your options may be limited and not so fancy.

Do you know that dreamy travel card with VIP lounges and personal concierge? You can cross it off your list – even if you can pay the annual fee.

Remember, it’s not just about your current income. Your credit score may still be in the 650 range if you haven’t done specific work to increase it.

But don’t worry. There are still some options for you in the credit card market:

The question here should be what type of loan you can get with a 650 credit score. You can get loans even with no credit score at all, but they’re usually not worth it.

Something to keep in mind is that your score will impact the interest rate of your offer. And this will directly impact your finances. Are you willing to pay what your loan will cost you?

Read the fine print of loan offers to ensure you’re not being robbed in daylight by signing your contract.

A home is the most expensive thing you can buy in your life. Except if you’re considering getting a luxury yacht or a private jet. We bet you’re not.

As it involves a large amount of money, lenders typically have stricter requirements. Not to crush your dreams of being a homeowner to the ground, but chances of getting an advantageous offer are low.

One way to solve this problem is to find a co-signer with a great credit score. But keep working to build your credit score, and you can get your mortgage someday!

The Federal Housing Administration (FHA) offers more lenient loans with credit requirements. Some FHA lenders may consider borrowers with credit scores around 580 or even lower.

Improving a 650 credit score involves taking steps to impact your creditworthiness positively. Here are some strategies to help you raise your credit score:

Are you ready to climb the credit score ladder? You will need a line of credit for this.

As we mentioned, some credit cards are made for people like you. This is the case with the Surge® Platinum Mastercard®!

Read our full review and discover how this credit builder card can become your greatest ally.