Is 621 a Good Credit Score? What You Can Expect

A credit score is a three-digit numerical representation of an individual’s creditworthiness. It indicates the likelihood of repaying borrowed money and managing financial obligations. Lenders use these scores to evaluate the risk of extending credit for products like loans and credit cards. Higher scores suggest lower risk, leading to more favorable terms and interest rates.

Credit Score Ranges

Credit scores are generated by credit scoring models, with FICO and VantageScore being the most widely used. These models typically produce a score ranging from 300 to 850, categorizing individuals into different credit quality tiers. Ranges can vary slightly between models and lenders, but general guidelines are recognized.

For FICO scores, the ranges generally classify credit as: Poor (300-579), Fair (580-669), Good (670-739), Very Good (740-799), and Exceptional (800-850). VantageScore models also use a 300-850 scale, with typical ranges being: Poor (300-499), Fair (500-600), Good (601-660), Very Good (661-780), and Excellent (781-850).

What a 621 Credit Score Means

A 621 credit score typically falls within the “Fair” credit range for both FICO and VantageScore models. FICO considers scores between 580 and 669 as Fair, and VantageScore places scores between 601 and 660 in its Fair or “Good” category. This score is below the average U.S. credit score, which was approximately 715 in early 2025.

Individuals with a 621 credit score may still obtain various financial products, but generally with less favorable terms. For instance, securing an auto loan is possible, but the interest rates will likely be higher than for borrowers with better credit. As of early 2025, for a new car, a nonprime credit score (601-660) could see average Annual Percentage Rates (APRs) around 9.83% for new cars and 13.74% for used cars, compared to prime rates (661-780) of 6.70% and 9.06% respectively. Similarly, personal loans may be approved, but often with higher interest rates and potentially other fees, such as origination fees.

For mortgages, a 621 FICO score generally meets the minimum requirement for a conventional mortgage, which is typically 620. Federal Housing Administration (FHA) loans, which are government-backed, are also an option for scores of 580 or higher, requiring a down payment as low as 3.5%. However, these loans may come with mandatory mortgage insurance, and the interest rates obtained with a 621 score will be significantly higher than for borrowers with excellent credit. Credit card approvals are generally attainable with a 621 score, but these cards may carry higher interest rates, often around 20% or more, compared to rates for those with exceptional credit.

How Credit Scores Are Determined

Credit scores are primarily determined by information found in an individual’s credit report. While specific calculations vary between scoring models like FICO and VantageScore, they evaluate similar categories of financial behavior. The most significant factor is payment history, which accounts for approximately 35% of a FICO score. This category assesses whether payments on credit accounts have been made on time.

Amounts owed, also known as credit utilization, is another major factor, typically making up about 30% of a FICO score. This considers the total debt an individual carries and the percentage of available credit being used. A lower credit utilization ratio, ideally below 30% of available credit, is generally viewed favorably. The length of credit history contributes around 15% to a FICO score, reflecting how long accounts have been open and active. Longer credit histories with responsible management tend to be beneficial.

New credit, which includes recent applications for credit and newly opened accounts, impacts about 10% of a FICO score. Opening multiple new accounts in a short period can suggest increased risk to lenders. Finally, the credit mix, or the variety of credit accounts an individual manages (such as credit cards, installment loans, and mortgages), accounts for the remaining 10%. Demonstrating responsible management of different credit types can positively influence a score.

Checking Your Credit Score and Report

Accessing your credit information regularly is a practical step in personal financial management. There is a distinction between a credit report and a credit score; a credit report details your credit history, while a credit score is a numerical summary derived from that report. Federal law allows individuals to obtain a free copy of their credit report every 12 months from each of the three major credit reporting agencies: Equifax, Experian, and TransUnion.

The official website for obtaining these free reports is AnnualCreditReport.com. Consumers can request all three reports at once or stagger their requests throughout the year to monitor their credit information more frequently. While AnnualCreditReport.com provides free credit reports, it typically does not include a free credit score. However, many credit card companies, banking apps, and financial websites offer free credit scores, often utilizing VantageScore or a version of the FICO score, as a benefit to their customers.