Is 665 Credit Score Good or Bad? - ComplexSearch (2022)

Is A 665 Credit Score Bad? What You Need To Know About Your Credit Score!

Your credit score is always a factor when it comes to any credit decision. You need a good one if you want to to get a good credit card or buy a house. If you have recently discovered your credit score is 665 and don’t understand where you exactly stand on potential credit decisions, don’t fret. This article will go over everything you need to know about a 665 credit score.

Is 665 A Good Credit Score? & What Is The Average Credit Score?

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To begin this article, I want to put your mind at rest, Is 665 a bad credit score? No, it’s good. It isn’t perfect, but with just a few steps you can get it at the excellent rank! Here are the different credit ranges:

Excellent Credit: 781-850
Good Credit: 661-780 <-This is where you fit in!
Fair Credit: 601-660
Poor Credit: 501-600
Bad Credit: 500 & Below

When it comes to the average credit score, according to the FICO credit range the average score is 678 – I will go more into the rating system for a FICO score later on – but, what you really should be worried about is your score and how to improve it.

What Does a Good Credit Score Mean To My Finances?
When you have a credit score of 665, the door is open to more financial options. You have better payback options and lower interest rates.

Projected Interest Rates
Understand this, the higher your credit score, the lower your interest rate. Let’s say you want to buy a home and your credit score is 665. Can you qualify for a mortgage? Yes, and depending on where you go, the interest rates will be anywhere between 2.65% and 4.1%APR. Now, keep in mind, it all depends on where you get your mortgage from and what kind of mortgage you decided to get. To learn more about mortgage rates, click here.

Can a 665 Credit Score Get a Mortgage Loan

According to our research a person with a credit score of 665 can buy a home, but those should look to increase your score before purchasing a new home. Here is some reputable information with a 665 credit score.

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Home Loans & Car Loans
Having a good credit score leaves a door open to a lot more credit and loan options – many with more perks and lower interest rates. Basically, with a higher credit score, you are telling lenders that you will be the least likely candidate to default on your payments.

When it comes to home loans, you need a credit score of at least 240 to get one. So, a 665 score will get you approved for a mortgage, do a lot of research so you can find the best interest rate.
If you need a car loan, the same thing applies. If you need – or want – to buy a new car and need to take a loan out, having a good credit score will increase your chances of getting approved for a low-interest rate and low monthly payments on used or new cars.
Be responsible for your credit accounts/cards/loans. Always make sure you can make every payment to each account on time or ahead of time.

A credit score – commonly referred to as a FICO score – is a tool created by the Fair Isaac Corporation. While it isn’t the only way to get a credit score, it is the most often used way to obtain it. Of course, there isn’t an exact formula for calculating – there is, but it isn’t available to us – this number. What the Fair Isaac Corporation does let us know, gets broken into five categories with varying levels of importance.

-35%: Payment History
-30%: Amount owed
-15%: Length of credit history
-10%: New credit
-10%: Type of credit used

All of these areas are used to calculate your score. It isn’t calculated on one thing solely.

What Does a 665 FICO Score Mean & How Does It Hold Up In Different Companies
When you look at your credit score from various companies, it will be different every time. Why? Because they have different rating systems. The most important, as stated before, is your FICO score. A 665 score falls into the ‘reasonable credit’ option. What does a 665 score mean? It mean’s you shouldn’t have any problem finding lenders who want to lend money to you.

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  • FICO Score: 300-850
  • Vantage Score: 3.0 300-850
  • Vantage Score: 1.0 & 2.0 501-990
  • Plus Score: 330-830
  • Trasnsrisk Score: 100-900
  • Equifax Credit Score: 280-850

Having a 665 transRisk score isn’t the same as a 665 FICO score. This is the reason for understanding the scoring model for determining if you have a good or bad score.

So, I have a good Credit Score, But I Want More, How Do I get More?
Having a 665 score isn’t bad, but it’s not an excellent one. You will still have a lot of options opening up to you, but at the same time, you want the perks of a higher score. Just know that the higher your score, the harder it may be to increase our score – annoying, right? Don’t worry; you’ll be okay. You just need to apply, use and be responsible for your credit accounts. Chances are, if you have a 665 credit score, you probably just have a couple of late payments to your score or maybe some hard checks – which strongly affect your score in a negative way. Whatever it is you have that is reflecting poorly on your score, don’t fret, it can be fixed, but just remember it won’t be fixed overnight.

Things To Do RIGHT To KEEP Your Good Credit Score
The number one thing you have to do in this process is patient. Credit scores aren’t easily changed for any score. It can take months – years even – to get some of the negative things off your score. So, just be patient, and I also suggest hiring someone to help you sort out your finances and give you some advice on how to improve your score. Do these things to not only improve your score but to also maintain a good rating. You don’t want to make some stupid mistake and end up going down on the credit rating scale!

-Check your score often, and clean it up
Most places that you can check your free score at, explain the good, the bad, and the downright ugly things that are on your score. Clean the ugly things up first!

-Never be late with payments & Make more than your monthly payment each month
This one is obvious but isn’t always easy. When you are late with a payment it is usually reflected in a negative light, so watch out for fees. Also, paying more than what you owe each month is the smartest thing you could do. It looks excellent on your score and over time, interest won’t be racking up.

-Don’t apply for too much credit
This can negatively reflect on your score – especially if you have very little confidence in each account – and it is very easy to miss payments on each account when you have too many accounts.

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-Watch out for hard checks! – This will be explained in more depth in the next paragraph
This one is crucial. Applier beware, always be aware of what kind of check they will be doing. Stay away from the applications that’ll do a ‘hard check’ it is a very negative thing if you have too many hard checks on your score.

-If you have an account in collections, pay it or them off.
If you have a collection account on your credit score, contact the collection agency that owns your account now, and pay it off in payments you can afford. Once it gets taken off, it should go up.

-Never, I mean NEVER run up ALL your credit on your cards or accounts
You should usually have at least 30-40% of your credit left on your card. If you need to apply for something new and let’s say you have maxed out all your cards and accounts, this is negative and can be a reason for you to declined in a credit decision. So, be aware, if you need to max an account or card out, make sure the next month you can replace at least half or more of what you spent.

Soft & Hard Checks
If you want to improve your credit score, usually the best route to go is to get more credit. Some places check your score in a very negative light. It can make your score go down sometimes by more than 5 points, for six months. They can stay on your report for 1-2 years!
A soft inquiry won’t pull your score down; you actually won’t even know about it when it’s happening. It is reported on your report, but you usually don’t see it.
A hard inquiry is negative. This is usually done when you give permission to a lender to check your credit history to give you credit. They are almost always voluntary, so watch out for them.

How To Check Your Credit Score For Free
If you want to check your credit score for free, go online. Don’t worry, if you check your score, it is a soft inquiry and won’t negatively effect your score. You should check your score at least once every 1 to 3 months.

For more valuable information on credit ratings, click on the links below:

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Is a credit score of 665 OK? ›

A FICO® Score of 665 places you within a population of consumers whose credit may be seen as Fair. Your 665 FICO® Score is lower than the average U.S. credit score. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.

Where can I get a loan with a 665 credit score? ›

FHA loans only require that you have a 580 credit score, so with a 665 FICO, you can definitely meet the credit score requirements. With a 665 credit score, you should also be offered a better interest rate than with a 580-619 FICO score.

How can I raise my credit score 665? ›

Here's how to improve a 665 credit score:

Pay Off Collections Accounts: Once you bring a collection account's balance down to zero, it stops affecting your VantageScore 3.0 credit score. Reduce Utilization: It's best to use less than 30% of the available credit on your credit card accounts each month.

What will a 660 credit score get me? ›

An individual with a 660 credit score will typically receive a credit card interest rate of between 20.5 and 16.5 percent. In comparison, someone with excellent credit can receive an average credit card interest rate of 13.5 percent.

Can I get a car loan with 665? ›

You should be able to get a car loan with a 665 credit score without a problem. Truthfully, people can get a car loan with almost any credit score—the difference will be what kind of interest rate you can secure. A score of 665 may get you an interest rate of between 11.92 percent and 4.68 percent on a new car loan.

Can I get a personal loan with 665 credit score? ›

The minimum credit score for a personal loan is 600, typically, although each lender has different eligibility requirements. Borrowers with good credit scores of 670 or higher have a better chance at loan eligibility, while those with bad or fair credit may not qualify for a personal loan at all.


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