Is it bad to have a credit score of 640?

Second, don’t apply for new loans unless you need a loan. Credit inquiries (including credit card applications) ding your credit score. It’s much better to build your credit slow and steady than to apply for a million loans at once. Finally, take a little time to understand the factors that go into your credit score. read more

A 640 credit score on the FICO score scale of 300-850 is considered fair. People with this credit score may be considered subprime borrowers and may be offered higher interest rates or less ideal terms for credit cards and loans. read more

It's likely you will be eligible for decent credit cards with a 640 credit score. The bad news: They will most likely need to be secured credit cards which typically have a very low spending limit, and a deposit is required. read more