By Jackie Lam

A 430 credit score is considered below average, according to FICO® and Vantage Score, two widely used credit scoring models. It’s also nearly 300 points lower than the national average credit score of 715.

If you have a credit score of 430, you may find it difficult to get approved for a loan or credit card. And those you qualify for may come with high interest rates and less-flexible terms. Boosting your credit score can help increase your chances of gaining access to credit and potentially make it cheaper to borrow money.

What Does a 430 Credit Score Mean?

When a lender loans you money, they want to know that you’ll be able to pay it back. Your credit score represents your creditworthiness, or how likely you are to repay the money you borrowed. Lenders consider this three-digit number when deciding whether to offer you a car loan, mortgage, personal loan, or credit card. It also helps them determine the terms they’ll offer you.

FICO credit scores, which are used in most lending decisions, are calculated based on a set of credit score factors. They include payment history, how much available credit you use, the length of your credit history, your credit mix, and how much new credit you’ve applied for recently.

FICO Scores range from 300 to 850. Here’s how credit scores are categorized:

•   Poor: 300–579

•   Fair: 580–669

•   Good: 670–739

•   Very good: 740–799

•   Exceptional: 800–850

Is 430 a good credit score? As you can see, it falls in the “Poor” range. There are several reasons behind a below-average score. For example, forgetting to pay a credit card bill, closing out one of your oldest accounts, maxing out credit cards, or applying for too many personal loans in a short period of time could all have a negative impact on your credit score.

Recommended: FICO vs. VantageScore

How to Build Your Credit Score

If you have a credit score of 430, it’s a good idea to focus on improving your score and boosting your chances of getting approved for a credit card or loan. Here are some credit-building strategies to consider:

•   Pay your bills on time, every time.

•   Pay down your revolving debt.

•   Become an authorized user on a friend or family member’s credit card, or get a secured credit card and use it responsibly. (More on both options in a minute.)

•   Check your credit report regularly and dispute any errors you see.

What Else Can You Get with a 430 Credit Score?

A 430 credit score signals to lenders that you might be a risky borrower, so getting the green light for that loan or credit card is likely more challenging. While your options are more limited than a borrower with a higher credit score, that doesn’t mean borrowing is impossible. Let’s take a closer look.

Can I Get a Credit Card with a 430 Credit Score?

There’s no single credit score required to qualify for a credit card. That said, with a 430 credit score, you may find it difficult to qualify for an unsecured credit card. And the ones you can get will likely carry higher interest rates, steeper fees, and fewer, if any, rewards and perks.

But all is not lost. You can explore getting a secured credit card, which involves putting down a cash deposit that’s usually equal to your spending limit on that card. A secured card typically has lower credit score requirements, less rigid financial criteria, and higher debt-to-income (DTI) ratios.

Another avenue to pursue is becoming an authorized user on someone else’s card. The primary cardholder adds you to their account, and you benefit from their positive financial habits. This can be a boon to your credit if the cardholder has solid credit and a track record of making on-time payments.

Can I Get an Auto Loan with a 430 Credit Score?

While you can get a car loan with a 430 credit score, it’s not very common. According to 2024 Experian data, only 1.9% of those with a deep subprime score (300 to 500 credit score) got a car loan.

If you are approved for a car loan, you’ll likely face a higher-than-average interest rate. The average annual percentage rate (APR) for borrowers with a 430 credit score is 15.43%, according to Experian. Meanwhile, car loan borrowers with excellent scores (781 or above) had an average APR of 5.08%.

You’ll likely have an easier time securing an auto loan if you have a cosigner on your auto loan. When you have a cosigner, you both apply for the loan and share financial responsibility for paying back the borrowed money. Your cosigner doesn’t also own your car, but they are listed on the loan agreement and are on the hook for making payments.

Can I Get a Mortgage with a 430 Credit Score?

It’s unlikely that you’ll be able to get a conventional mortgage with a credit score of 430. Most lenders require borrowers to have a 620 credit score or higher.

However, with some work, you might qualify for an FHA loan. These loans are backed by the Federal Housing Association (FHA) and require a minimum credit score of 580 with a down payment of 3.5%.

A VA loan may also be worth looking into. Although a 620-640 credit score is typically required for approval, some lenders might extend a home loan to borrowers with a poor credit score. Similarly, a USDA loan usually requires a credit score of at least 640. But borrowers with a lower score may still be eligible. Their loan will likely go through manual underwriting, and they may need to show a low DTI or a significant amount in savings.

Can I Get a Personal Loan with a 430 Credit Score?

There’s a lot to love about personal loans. You can use them for anything from covering an emergency, paying for a dream vacation, or consolidating debt. And if the loan is unsecured, you won’t need to put down collateral.

But can you get a personal loan with a 430 credit score? Perhaps, but you’ll likely face higher rates and less-flexible terms, and you may not get approved for the full amount you need. (Keep in mind that interest rates on personal loans are usually lower than those available on credit cards.)

You might have an easier time with a secured personal loan, which requires you to offer some sort of collateral, such as money stashed in a savings account, a certificate of deposit (CD), or car.

Once you’ve established a stronger credit profile, you could qualify for a credit card debt consolidation loan. There’s no set score to get approved, but lenders typically prefer to see a score of 670.

As you’re comparing loan options, it’s important to understand what your monthly payments will be based on the amount you’re planning to borrow and the interest rates you’re offered. A personal loan calculator can help you crunch the numbers.

Recommended: Guide to Credit Score Ranges

The Takeaway

Is 430 a good score? Unfortunately, it’s classified as “poor” by FICO and VantageScore, two widely used credit scoring models. While you may be able to qualify for certain loans and credit cards, chances are you’ll face higher fees and less-flexible terms.

Your best bet to save on interest and receive more favorable rates is to work on building up your credit score by paying bills on time, lowering debt, and keeping older accounts open. You can also look into other ways to get approved for financing, such as adding a cosigner to your loan application.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

By Kim Franke-Folstad

A 737 credit score is near the top of what is considered the good range using both FICO® and VantageScore credit scoring models. That three-digit number could make it easier for you to qualify for a credit card or loan with a favorable interest rate.

If you’ve been working hard to build or maintain your credit and you’re curious about where you stand as a potential borrower, read on for a look at what you can expect with a 737 credit score.

What Does a 737 Credit Score Mean?

Using the popular FICO scoring model, a good score is anywhere from 670 to 739.

FICO scores are organized into the following tiers:

•   Poor: 300-579

•   Fair: 580-669

•   Good: 670-739

•   Very good: 740-799

•   Excellent (or Exceptional): 800-850

The higher your score, the more likely you are to be offered the lowest-available interest rates and other perks — and that can save you money.

With a 737 FICO Score, you’re solidly in the good range and just a couple of points from the very good range, which is 740 to 799. (The excellent or exceptional range, which is 800-plus, may even be within reach.) As a point of comparison, the average credit score in the U.S. is currently 717, so you are ranking above that figure. Nice work!

What Else Can You Get With a 737 Credit Score?

When you’re trying to determine what a 737 score can get you as a borrower, it’s important to note that lenders have multiple scoring models to choose from, including some that are industry-specific (for auto loans, mortgages, etc.). And it’s up to each individual lender to decide how it will assess credit scores.

Lenders also generally look at other factors besides credit scores when assessing a borrower’s creditworthiness. If you have a low debt-to-income (DTI) ratio, solid employment, a good income, and cash in the bank or other assets, for example, a lender will typically take that into consideration when reviewing your loan or credit card application.

With that in mind, here’s what you may be able to expect with a 737 credit score.

Can I Get a Credit Card With a 737 Credit Score?

A 737 credit score should be high enough for you to be approved for an unsecured credit card with some rewards or other benefits. But you may not qualify for a luxury or premium card, the lowest annual percentage rate (APR) offered, the highest credit limit, or certain premium rewards or privileges. The closer your score is to 800 or higher, the more likely it is you’ll be eligible for the cards with the most valuable perks.

If you’re looking for a new credit card, it can be helpful to use a preapproval tool to compare various offers and find the best card for you. You also can get a good idea as to whether you’ll be approved for the card you want before you actually apply.

While you’re doing your research, you also may want to look for cards that come with free credit score monitoring and/or an app that makes it easy and convenient to track your spending and saving. These extras can be useful as you work to keep improving your credit.

One more note about credit cards: If you find your debt is higher than you’d like, you might consider a credit card consolidation loan, in which you replace high-interest credit card debts with a single installment loan, typically at a significantly lower interest rate.

Can I Get an Auto Loan With a 737 Credit Score?

The minimum credit score needed to get a car loan can vary from one lender to the next. And lenders may use an auto industry-specific scoring model that works a little differently than your basic credit score. But typically, if you have a credit score in the good range, you can qualify for an auto loan.

For car buyers, a 737 credit score falls into what’s called the prime loan range, which means they can expect to be offered an APR that’s at least one or two percentage points higher than what buyers with credit scores in the next highest range (super prime) are paying. This might motivate you to wait before financing a car so you can build your credit score into that range.

By the way, if you’re wondering if it makes more sense to buy a new or used car, there are pros and cons to each. It may seem counterintuitive, but it can be easier to get financing for a new car and a lower interest rate. (This is in part due to the predictable value of a new car vs. a used car presenting unknowns regarding how well it will run.) A used car is likely to have a lower price, though, and a shorter loan term. Which means you may pay less in interest over the life of the loan.

Can I Get a Mortgage With a 737 Credit Score?

Loan requirements, including minimum credit scores, can vary with different types of mortgages. And lenders may have their own credit score mortgage rate requirements as well. Here are some basics to consider:

•   If you’re applying for a conventional mortgage loan, you typically will need a credit score of at least 620 to be approved. With a 737 credit score, lenders may not offer you the best interest rates available, but you may find you’re within a percentage point or less of better-qualified homebuyers.

•   If you’re seeking a jumbo loan (with a principal of $806,500+ in most areas), you typically need at least a credit score of 700, so you are in good standing to seek approval.

•   Although the Department of Veterans Affairs doesn’t set a minimum credit score requirement for VA loan borrowers, lenders typically like to see at least a 620. And you may qualify for a lower interest rate with your 737 credit score.

•   Considering a government-insured FHA loan? Your 737 credit score can make you eligible for a lower down payment. Borrowers with a credit score as low as 500 can qualify, but with a credit score that’s 580 or higher, you can put down a minimum of 3.5%. If your credit score is between 500 and 579, your minimum down payment is 10%.

•   A minimum score of 640 is recommended for most government-backed USDA loans, although borrowers without a credit history may be evaluated through other criteria.

Though a 737 credit score should be high enough to qualify for any of these loan types, you may want to talk to a mortgage professional about how various costs might affect your monthly payments and which option might be right for you.

Can I Get a Personal Loan With a 737 Credit Score?

Unless lenders see some potential red flags when reviewing your application — maybe you haven’t had your job for very long or you don’t have much money in the bank — you should be able to qualify for unsecured personal loans with a 737 credit score.

Personal loans can be used for almost any legal purpose you can think of. For instance, you might fund a vacation with the money, use it to finance a wedding, pay for home renovations, or take care of a major dental bill.

A personal loan calculator can help you determine how much your monthly payments might be if you choose a personal loan. You can also calculate how much you could save by using a personal loan to pay off any existing high-interest debt that’s getting in the way of your goals.

Recommended: How to Apply for a Personal Loan

The Takeaway

A 737 credit score is generally considered to be in the good range, and it’s higher than the current average credit score of 717 in America. If you’re looking to take out a loan or get a new credit card, most lenders are likely to treat you as a creditworthy candidate. While you may not qualify for the very best rates and terms, you should have options to consider when accessing credit.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

By Jackie Lam

A 637 credit score is neither good nor bad. It puts you squarely in the fair category, which is above a poor rating but below a good score.

Your credit score of 637 is 33 points below the range of good credit, which typically starts at 670. What’s more, it’s 80 points below the current national credit score average of 717. While you may well find lenders or creditors to approve a loan or credit card, you’ll likely have higher interest rates and less flexible terms than if you had a higher score.

What Does a 637 Credit Score Mean?

A credit score gauges your creditworthiness, or how likely you are to demonstrate responsible borrowing behaviors, such as paying back your loans on time. Your three-digit score reflects how well you’ve managed credit in the past. Lenders and creditors use credit scores to determine whether to extend you financing, such as a mortgage, car loan, credit card, or personal loan, and with what kind of terms.

Some details to know about credit scores:

•   You have three credit reports from the major credit bureaus: Experian®, Equifax®, and TransUnion®.

•   Credit scores are based on scoring models such as FICO® or VantageScore. A lender might also have its proprietary algorithm.

•   There are dozens of different scoring models within these scoring models. You can also have different credit scores, which might be used for different purposes, such as insurance policies or taking out a car loan.

•   The FICO Score is the most popular credit scoring model in the U.S. The credit score ranges from 300 to 850; the higher the number, the better the score.

The breakdown for the FICO credit score ranges is as follows:

•   Poor: 300-579

•   Fair: 580-669

•   Good: 670-739

•   Very Good: 740-799

•   Excellent (or exceptional): 800-850

A score of 637 hovers in the fair range, and, as you see, does not make the cut as a good credit score.

What Else Can You Get With a 637 Credit Score?

With a credit score of 637, you have less-than-stellar credit and are considered a higher-risk borrower. Getting approval for that loan or line of credit might take a little more effort. On top of fewer options, the ones made available to you might come with higher interest rates and other drawbacks.

So while you may be approved for most financial products with a 637 credit score, you’ll probably pay more for the same amount of money borrowed due to that higher interest rate. If you are applying for a credit card, in addition to paying a higher interest rate, you may not be offered the same credit card rewards (such cash back or points) as you would with a higher credit score. Here’s a closer look.

Can I Get a Credit Card With a 637 Credit Score?

What kind of credit cards can you get with a 637 FICO score? Typically, you need a 670 credit score for a basic credit card. That said, you may qualify for some unsecured credit cards with a credit score in the fair range. Just note that with fair credit, the card offered will likely charge you a higher interest rate (and credit cards offered to those with good or better credit scores are already considered high-interest). In addition, it will probably lack the rewards, like travel perks, given to those with very good or excellent credit.

With fair credit, here are some other types of credit cards you’ll likely have higher odds of getting approved for:

•   A secured card can be a solid route if you have fair credit and are working to build your score. These cards tend to have less rigid credit and financial requirements, lower credit score requirements, and higher debt-to-income (DTI) thresholds.

With a secured card, you typically need to put down a security deposit, which can match your credit limit. So, if you put down a $500 security deposit, your credit limit is also $500. In general, secured cards have lower credit limits.

Some cards allow you to move up from a secured card to an unsecured card after making a series of on-time payments.

•   Retail or store cards, like secured cards, usually have looser credit requirements, making them easier to qualify for. You may also hear them referred to as closed-loop cards, which means you can only use them at one retailer or retail group. This is compared to an open-loop card used anywhere the credit card network (i.e., Visa, Mastercard, American Express) is accepted.

While retail or store credit cards are easier to get, they also might come with higher interest rates. Plus, their “interest-free” plans might be a deferred interest plan. In other words, if you don’t pay off the balance in time, you’ll be on the hook with all the accruing interest.

If you feel like your options are limited, don’t despair. Points to consider:

•   Creditors don’t just look at your credit score; other factors like your income, education, and debt-to-income ratio (DTI) are also considered.

•   If you want a credit card with a higher credit score, practicing sound credit-building behaviors, such as always making on-time payments, lowering your debt load, not applying for credit too often, having a mix of credit (such as installment loans and lines of credit), and maintaining as long a credit history as possible. These moves can have a positive impact on your credit score.

Can I Get an Auto Loan With a 637 Credit Score?

You’ll likely be able to land an auto loan with a 637 credit score, but, as mentioned above, a lower score usually equates to higher interest rates.

According to data compiled by Experian, in the second quarter of 2024, the average interest rate for someone with a credit score between 601 and 660 for a new car was 9.83% and, for a used car, 13.92%. For those with a score between 781 and 850, the interest rates fell to 5.25% and 7.13%. Over the term of a loan, those rate differences can have a real impact on the total amount you’ll pay.

As you think about getting a car loan, it’s also important to look at the total cost of the car, which includes insurance premiums, the cost of gas, and repairs and maintenance. That way you can adequately size up the total outlay of funds before you apply for an auto loan, which can in turn help you stick to your budget.

Can I Get a Mortgage with a 637 Credit Score?

Yes, getting a mortgage with a 637 credit score is possible. The lending criteria and credit score requirements hinge on the type of home loan:

•   Conventional home loan: For a conventional home loan, you’re often looking at a minimum credit score of 620. (Some lenders, however, may require 640 or 660 and up.)

•   FHA loan: Mortgages backed by the Federal Housing Administration (FHA) usually require a credit score of at least 580 and a 3.5% down payment. If those two criteria are met, you’ll probably be able to get access to the most financing available for FHA loans.

•   VA loans: Home loans available through the U.S. Department of Veteran Affairs often require you to have at least a score in the range of 620 or 640. However, some lenders may approve applicants with a lower score, such as 580 or more.

•   USDA loans: Loans offered by the USDA generally need you to have a minimum credit score of 640. If you don’t have a 640 credit score, you must undergo a full credit review before landing a USDA loan.

When you have a fair credit score and aren’t rushing to buy a home, you can work on building your credit score to have a broader range of options and possibly land a lower interest rate.

Can I Get a Personal Loan With a 637 Credit Score?

The beauty of personal loans is that they’re very flexible in their use. They’re typically unsecured, offer a fixed rate, and have terms of two to seven years. You might borrow, say, $1,000, or some lenders might extend you a personal loan of $100,000.

You can use personal loans for almost any legal purpose you can think of, such as:

•   Paying for a home renovation

•   Consolidating credit card debt into a single monthly payment, usually at a significantly lower interest rate (you may need a score of 640 or 670 and up to qualify)

•   Taking care of a major medical, dental, or car repair bill

•   Financing a wedding or a vacation

•   Funding family planning costs, such as IVF or adoption expenses

It’s possible to secure a personal loan when you have a 637 credit score; offers tend to become available with a score of 580 and up. However, you’ll likely have to pay higher interest rates and less favorable terms than if your score were higher. Those with scores of 740 or more tend to get the lowest interest rates. With a fair credit score, you also might need to settle for a smaller loan amount than you were hoping for.

Still, take note: A benefit of a personal loan is that the interest rates are usually lower than what you’d find with credit cards. Per the Federal Reserve, in 2024 the average interest rate for a 24-month personal loan is 12.33%, whereas the average rate for credit cards is 21.76%. So even if you pay a higher interest rate on that personal loan with fair credit, you’re likely paying less than a credit card. You can use a personal loan calculator to run the numbers and see what your payments would look like.

Recommended: What Are Personal Loans Used For?

The Takeaway

A 637 credit score isn’t good. Technically, it falls in the fair credit range, which means you will likely face some challenges getting approved for credit. You might be denied by some lenders or face higher interest rates than those who have loftier scores. However, if you build your credit score, you will likely enjoy more options (and more affordable ones) for credit cards, auto loans, mortgages, and personal loans.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.