What Can I Get With a 600 Credit Score?

A credit score is a numerical representation, typically a three-digit number ranging from 300 to 850, that assesses an individual’s credit risk. Lenders and creditors use this score to evaluate applications for financial products like loans and credit cards. Your credit score also influences the interest rates and terms offered. This article explores the financial products and services generally accessible to individuals with a 600 credit score and their practical implications.

Understanding a 600 Credit Score

A 600 credit score typically falls within the “fair” credit range (580 to 669 on the FICO scale). While above the “poor” category, a 600 score is below the national average of 714 in 2022. This places it on the lower end of “subprime” credit, indicating higher risk to lenders.

Lenders view a 600 credit score as a signal of increased risk, suggesting a greater likelihood of future delinquency. Approximately 27% of consumers with scores in the “fair” range are likely to become seriously delinquent. This often translates into less favorable terms for financial products. Individuals with a 600 score may face higher interest rates, more stringent loan conditions, or even outright denial for some credit offerings.

A 600 score positions borrowers in a category where financial institutions seek to mitigate risk, often by charging more for borrowed money. Understanding this categorization is crucial for managing financial expectations. The immediate implications center on the cost and availability of credit and service options.

Accessing Credit Products

Individuals with a 600 credit score can still access various credit products, though terms differ significantly from those offered to borrowers with higher scores. Secured credit cards are a common option, requiring a refundable security deposit that sets the credit limit. These cards help build credit history through responsible use, as payment activity is reported to major credit bureaus. Some secured cards offer rewards and may review accounts for an upgrade to an unsecured card after consistent on-time payments.

Unsecured credit cards, which do not require a deposit, are also available, but often come with higher annual fees and less generous terms. These cards typically offer lower credit limits and higher Annual Percentage Rates (APRs) compared to cards for those with good credit. Some options may provide initial credit limits with potential for increases after consistent, responsible account management.

Personal loans for those with a 600 credit score are generally available, but come with higher interest rates to compensate lenders for increased risk. Borrowers in this credit tier can expect rates significantly above the lowest available. Some lenders may require a co-signer to mitigate risk. In certain cases, collateral, such as a vehicle or savings account, might be necessary to secure the loan.

Securing Major Loans

Obtaining major loans like auto loans and mortgages with a 600 credit score presents possibilities and distinct challenges. For auto loans, approval is often achievable, but borrowers should anticipate significantly higher interest rates. In the first quarter of 2025, the average interest rate for a new car loan for someone with a 600 credit score was around 13.22%, while for used cars, it climbed to about 18.99%. These rates are substantially higher than the overall average new car rate of 6.73% and used car rate of 11.87% for all credit tiers.

Beyond higher interest rates, securing an auto loan with a 600 credit score may necessitate a larger down payment. Lenders often require a more substantial upfront contribution. In some situations, a co-signer with a stronger credit profile might be required to qualify for the loan or secure more favorable terms. While a 600 score does not preclude car ownership, it increases the overall cost of the vehicle through higher financing charges.

For mortgages, a 600 credit score is below the preferred threshold for conventional loans, which require a minimum FICO score of 620. However, government-backed Federal Housing Administration (FHA) loans are more accessible. FHA loans may allow for a credit score as low as 580 with a 3.5% down payment. Despite the lower credit score requirement, FHA loans involve an upfront mortgage insurance premium of 1.75% of the loan amount, and ongoing annual mortgage insurance premiums ranging from 0.15% to 0.75% added to monthly payments. While a 600 score makes homeownership possible through FHA loans, it translates to higher interest rates and increased upfront costs compared to those with stronger credit.

Renting and Essential Services

A 600 credit score can influence access to housing rentals and essential services, as landlords and service providers often conduct credit checks. When renting an apartment, landlords commonly review credit reports to assess a prospective tenant’s financial reliability. With a 600 score, landlords might perceive a higher risk of late or missed rent payments.

To mitigate this perceived risk, landlords may request a higher security deposit or require a co-signer for the lease. A more thorough background check may also be conducted. While a 600 score does not automatically disqualify someone from renting, it can lead to more stringent conditions before a lease agreement is finalized.

Accessing essential services, such as electricity, gas, water, and cell phone contracts, can also be affected. Utility companies and cellular providers frequently check credit scores before initiating service. A 600 credit score might prompt these providers to require a security deposit to begin service. In some cases, a lower credit score might limit available plan options for services like cell phone contracts, potentially requiring prepayment or restricting access to certain premium plans.