Question
is 613 a good credit score?
About 3 months ago I had a week credit score of 450 because I had no credit history. I took out a secured credit card from Bank of America, and 3 months later after succesfully paying my bill on time, my score has gone up to 613. Do you guys think this is a good score? I mainly ask this because I am in search of a loan for a used vehicle. My parents have really bad credit so I can't rely on a co-signer. So my goal is to get approved on my own.
5 months ago - 8 answers
Best Answer
Chosen by Asker
This should explain it to you. FICO scores from 300 to 850 and Vantage scores from 501 to 990. Here is the breakdown for both systems. Vantage Plus system scores from 501-990. A-901-990 B-801-900 C-701-800 D-601-700 F-501-600 FICO system scores from 300-850. Elite-740-& up Prime-700-739 Preferred-660-699 Standard-625-659 Sub-prime-624-& under FICO is the only one that matters since it's the one that all major lenders look at. a 613 score will put you in the sub-prime catagory which means if you get approved on your own you can look for a high interest rate and most likely a large down payment. Good luck.
Source(s)
Finance Manager for a car dealer for over 9-years.
by SPIFIMAN1
5 months ago
Asker's Rating: 
Other Answers
613 should get you approved I just got approved by Hyundai at 580 with 2 grand down. I have been doing a lot of research about credit and credit score you are in decent shape I am working on getting my score up as well. You should make sure you don't have any open past due accounts or judgments against you. Make sure you are not buying above you means factor in insurance as well.
by dirtyinjersey- 5 months ago
Fico is a fraud system
by USAF for lyfe!- 5 months ago
In a word, no. Your credit is not horrible, but a 613 is not a very good score. That said, it is an okay score, and should be enough to get you approved for a car loan. You may find yourself paying a slightly higher interest rate, but you should be able to get a loan. The bank will assess how likely you are to re-pay the loan. They'll check your credit for missed or late payments. They'll look at how much debt you have versus how much you make. They'll also look at your credit limits compared to your balances. They want to see if you're close to being maxed out, and living beyond your means. So long as you've payed your bills on time, and aren't close to being maxed out, you should be fine. The thing to remember when buying a car is to get what you can afford (think about maintaining it as well.) I want a BMW in the worst way, but fixing them is pricey, which makes it so I can't comfortably afford it. Make sure you can afford the monthly payment plus maintenance: oil changes, brakes, tires, tuneups, etc. Good luck...
by Michael S- 5 months ago
the average "good score" is about 650-700. Some companies take an average of all three scores, and some take the score in the middle ----------------------------------------- www ...
by Kon- 5 months ago
No, it is not a good score. You need a score above 700.
by MadMan- 5 months ago
Sorry... not likely going to happen. But one warning... if you respond to any online bank offer that requires you to pay an upfront fee for a loan... it is a scam. It is actually illegal to charge an upfront fee or a downpayment on a promised Loan. Any fees and charges are attached to the amount you finance and you will pay those fees with your interest on the loan. So... do not fall for the scammer that offered you a loan as long you pay them a downpayment or a fee for the loan processing costs.
by Mai- 5 months ago
Yes of course it is a good credit score... You should get approved if you are applying for a loan....
by Allan Hassing- 5 months ago