Is 666 a Good Credit Score?

Your credit score is one of the most important numbers in your financial life It gives lenders an idea of how creditworthy you are and can affect everything from whether you get approved for a credit card or loan to how much interest you’ll pay So where does a 666 credit score land you? Is it considered good or bad? Here’s what you need to know.

What is a 666 Credit Score Considered?

A 666 credit score is generally considered to be fair by most scoring models.

The most commonly used credit scoring model is FICO, and they rate credit scores as follows

• 800-850: Exceptional
• 740-799: Very Good
• 670-739: Good
• 580-669: Fair
• 300-579: Very Poor

So with a 666 score you fall into the fair category. This means you have an average or below average credit score compared to other consumers.

While a fair credit score is not ideal, it’s also not terrible. Scores below 580 are considered poor/very poor, so 666 is significantly higher. At the same time, a score of 666 is just 4 points away from reaching the next tier of good credit (670-739). So while your 666 score has room for improvement, it’s in a much better place than a poor score below 580.

Is 666 a Good Credit Score?

Whether a 666 credit score is considered good or not depends on your perspective.

On the positive side:

• A 666 score is well above a poor/very poor score. So you have a significant advantage over those with scores in the 300-579 range.

• Your 666 score means you’re close to reaching the good credit tier. With some work, you may be able to improve your score by a few points to cross that 670 threshold.

• A 666 score is sufficient to get approved for credit in many cases. While you may not get the very best terms, you should still have access to credit.

On the negative side:

• Your 666 score is below the national average FICO score of around 700. So you have room for improvement compared to most people.

• A fair 666 score likely won’t qualify you for the best rates and terms on credit and loans. You may pay more in interest than those with good/excellent scores.

• Some lenders may view a 666 score as too risky and deny your applications for credit. But many others will still approve you, albeit with higher rates.

Tips for Improving a 666 Credit Score

If you want to boost your 666 score, here are some tips:

• Pay bills on time. Payment history is the biggest factor in your score. Set up autopay and reminders to avoid late payments.

• Lower credit utilization. Keep balances low compared to limits. Ideal utilization is below 30%.

• Don’t close old accounts. This can shorten your credit history which hurts scores.

• Fix errors on your credit reports. Dispute any mistakes with the credit bureaus.

• Consider credit-builder loans. These loans help establish positive payment history.

• Become an authorized user. Get added as an authorized user on someone else’s account to benefit from their good history.

• Monitor your credit. Check your reports regularly and monitor score changes over time.

• Allow time. Credit scores take time to improve. Be patient and persistent.

What Can You Get Approved For With a 666 Credit Score?

While not the highest, a 666 credit score is sufficient for approval on many types of credit. Here are some options to consider:

Credit Cards – You should be able to get approved for an average rewards credit card. Avoid premium cards which require 700+ scores. Watch out for annual fees.

Auto Loans – A 666 score makes you eligible for most regular auto loans. But you’ll likely pay a higher interest rate than those with good/excellent credit.

Mortgages – You can qualify for an FHA loan with a minimum 580 score. Conventional loans typically need 620+. But you may get a higher rate with 666.

Personal Loans – Approval is possible but you’ll likely pay a higher APR than those with higher scores. Compare rates from multiple lenders.

Apartment Rental – Many landlords require credit scores of 600-650+. A 666 score should meet most rental criteria barring other issues.

Cell Phone Plans – Carriers typically check credit before approving financing on expensive phone plans. A 666 score should qualify you for most plan financing options.

So while not ideal, a fair 666 credit score is certainly sufficient to get approved for major types of credit, especially with a good down payment or co-signer. Shopping around for the best terms and taking steps to improve your score will serve you well.

How a 666 Credit Score Compares to Others

To put a 666 credit score into perspective, here’s how it stacks up against some other common scores:

• 620 – A 666 score is better than 620, the typical minimum for conventional mortgages. Your approval odds for credit cards, auto loans and other financing should also be better compared to a 620 score.

• 700 – The average FICO score is around 700. A score of 666 trails the national average by 34 points. Those with 700+ scores will generally get better loan terms.

• 740 – A score of 740 is considered very good credit. At this level, you’ll qualify for the best interest rates. A 666 score falls short of 740 by a significant 74 points which can impact borrowing costs.

• 780 – An exceptional 780 credit score will unlock the most ideal loan terms and lowest rates. But very few people score this high. A 666 vs 780 comparison shows you have plenty of room for score improvement.

• 580 – A 666 score beats the 580 lower threshold for fair credit. Your approval odds and loan terms will be markedly better versus someone with a 580 score.

So while 666 is not a top-tier credit score, it certainly exceeds poor credit levels. With some time and diligence, you can improve your 666 score and graduate into the good credit range. Monitor your progress frequently and don’t get discouraged.

The Takeaway

A 666 credit score is considered fair. It’s below average but still sufficient for approval on many types of credit. While not great, it’s also not bad and you have options. Improving your financial habits and giving your credit score time to increase will expand your access to credit. Be persistent and keep your long term goals in sight.