What does a fair credit score mean?

If you’ve checked your credit report in the UK, you might have been told that you have a “fair” credit score. But what does that really mean, and how does it affect your options when it comes to your money matters? In this blog, we’re chatting about what you need to know if you have a fair credit score and what it means for your finances.

Before we get into it, it’s handy to know what your score is when reading through this blog. Take a look at our guide on how to check your credit score with each of the credit reference agencies (CRAs) here. 

Generally, the higher your score, the more likely you’ll be offered lines of credit with higher limits and better interest rates. Although your credit score is a number, it will also show a word like “excellent”, “good”, “fair”, or maybe even “poor”. So, what does it mean if yours is described as a “fair”?

What is a fair credit score?

Once you’ve checked your credit report, you can compare your score to the credit scoring table below. You’ll notice that each of the credit reference agencies (CRAs) use a slightly different scoring scale. This means “fair” is considered mid-range for Experian (721-880) and TransUnion (566-603), and in a lower bracket for Equifax (439-530).

This data was reviewed in July 2025.

Is a “fair” credit score good enough to borrow?

It’s hard to say if a “fair”score is good enough because it depends on what you want to do with your borrowing. For example, if you apply for a mortgage or car finance, “fair” credit scores could make it more difficult compared to having an “excellent” score.

The truth is that with a fair score you could be considered a potential risk to a lot of lenders. But don’t panic, there are always options available to you and it doesn’t mean you’re completely cut off from achieving your financial goals.

Let’s take a look at how a fair credit score affects different financial products:

Can I get a mortgage with a fair credit score?

Yes, it’s possible to get a mortgage with a “fair” rating, but it may be more difficult. There’s no minimum credit score (or range) that guarantees a mortgage.
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Lenders prefer borrowers with  “good” or “excellent” credit reports, as they’re considered less risky. But, with a steady income and good payment history, you might still qualify with a “fair” score.

Mortgage providers will consider more than your credit history when deciding whether to accept your application — and at what interest rates. They’ll also check your affordability — how much do you earn, and how much do you have to pay out every month? Do you have children? How much is your deposit? This information will help them understand whether you’ll be able to cover the costs of a mortgage.

If you have a fair credit score and are successful in a mortgage application, they may only be offered to you on the condition of high interest rates. If you can strengthen your report before you apply for a mortgage to help get more favourable interest rates, you could save yourself thousands in the long run. This means it could be well worth building your credit where you can.

You can read more about how you can get your finances and your report mortgage-ready in our home buyers’ toolkit.

Can I get a car with a fair credit score?

Yes, it is possible to get a car on finance with a rating that sits in the “fair” range. However, you may be limited in your options and it could mean you pay higher interest rates on the loan. You may also be required to pay a fee or a large deposit, but that is more likely if you have a  “poor” or “bad” credit score.

Of course, if you're looking for car finance and your credit history is causing you problems, there are lenders who specialise in car finance for borrowers with fair reports. But be prepared to pay higher interest rates, fees and/or deposits.

You can read more about credit reports and car finance here.

Can I get a loan with a fair credit score?

If you're in need of a loan, there will very likely be options available to you if you have a “fair” credit report. Again, there are lenders that specialise in offering loans to borrowers with less-than-perfect credit but the same higher interest rates will likely apply. 

You can also look at different types of loans. With a secured loan, you can offer up an asset — like your house or car — as security against your loan. Alternatively, guarantor loans can be accepted when you are able to find somebody — like a friend or family member — who is willing to act as a guarantor for your borrowing.

But as with other forms of credit, lenders will often look at more than your history when they decide whether they’ll accept your loan application. They’ll often consider salary, employment status and outgoings. Taking it all into account, lenders may decide you’re less risky. However, for better deals, building better credit is a good way to go.

You can read more about credit scores and loans here.

Can I still get a credit card with a fair credit score?

If you’re looking to get a credit card to help rebuild your history, the good news is there are specific cards for people like you. Typically, these cards will have low credit limits and high interest rates, but they can help you establish a good payment history as long as you stay on top of them. After all, using credit responsibly is a great way to improve your report.

Credit-building credit cards can be useful for people who either have a low score, have a challenging employment status, or for those with a thin credit file who haven’t had an opportunity to use credit responsibly yet. By offering high interest rates, the cards can offset the risks in return for allowing you time to build (or rebuild) your history. 

If you use your card sensibly — as in, you make your minimum payments in full and on time every month, and you don’t spend more than about 25% of your available credit — that activity is reported to the CRAs. They in turn update your report and recalculate your score.

Of course there is also a risk. If you use a credit-building credit card irresponsibly and you miss payments, you could see that your score goes down further than “fair” and even into “poor” or “bad” territory! 

You can read more about credit scores and credit cards here. 

What’s the difference between a fair and good credit score?

The main difference between a “fair” and “good” credit score is the level of risk lenders think you represent as a borrower of their money. Borrowers with “good” (or “excellent”) ratings are considered to be less risky because they have a proven history of making payments on time and managing their credit responsibly. 

Borrowers with “fair” credit ratings are not thought of as high risk, but they may still be considered somewhat risky. It’s possible that a person with a “fair”score will be able to secure loans, mortgages and credit cards with some lenders but there’s also a chance that they will have to pay higher interest rates, deposits, or find a guarantor.

Okay, so how can I get a better credit score?

While having a “fair” rating can make it more difficult to secure loans, mortgages, and credit cards, it's certainly not the end of the world. With a little patience and persistence, you can still find options to help you achieve your financial goals. Or better still, grow your credit by starting to use it responsibly. And we can help. 

An easy way to build your credit is by starting your membership with Loqbox. Head to this page to learn how it all works and sign up.