All You Need to Know about 660 Credit Score

Your payment history, the amount you owe, the age of your credit history, the amount of recently opened credit accounts, and others are typically used to determine your credit score. If your credit score is 660, you can consider yourself getting closer to a high excellent credit score.

By making on-time payments on your bills, you can quickly raise your 660 credit score. It must be remembered that even though several individuals have credit scores in this range, it may still be challenging to obtain acceptance for credit or loan products without considerable fees and interest involved.

Continue reading below to understand what a 660 credit score means and its impact on the approval of your applications with respect to financial products and services in the UAE.

All You Need to Know about 660 Credit Score

Your payment history, the amount you owe, the age of your credit history, the amount of recently opened credit accounts, and others are typically used to determine your credit score. If your credit score is 660, you can consider yourself getting closer to a high excellent credit score.

By making on-time payments on your bills, you can quickly raise your 660 credit score. It must be remembered that even though several individuals have credit scores in this range, it may still be challenging to obtain acceptance for credit or loan products without considerable fees and interest involved.

Continue reading below to understand what a 660 credit score means and its impact on the approval of your applications with respect to financial products and services in the UAE.

What Does 660 Credit Score Mean?

Credit Score (Range)	Category	Star Equivalent
300-540	Very low	1
541-650	Low	2
651-710	Medium	3
711-745	High	4
746-900	Very High	5

In the UAE, a 660 credit score is considered a ‘medium’ credit score with a 3-star rating and leads to better chances of getting a loan approved than a low credit score. However, the possibility that you fail to qualify for any credit card without a security deposit or an auto loan without a 0% interest rate remains.

If you have a 660 credit score, it could mean that you have been usually regular with your payments but may have missed out on a few of them. Another reason why you could have a 660 credit score is that you may have used out the maximum limit of your credit card (or used more than 30% of the total).

What a 660 Credit Score Can Get You?

As discussed earlier, a credit score of 660 implies that you have fairly managed your finances but there is still scope for improvement. So while you may qualify for most types of loans and credit cards with such a credit score in the medium range, you may face difficulties in obtaining the mentioned products at lower prices.

Credit Cards for 660 Credit Score

If your credit score is 660 or more, you will be eligible for a variety of unsecured credit cards. Unsecured cards do not require you to put out a security deposit, unlike secured cards. Applicants with a moderate credit score of 660 may be eligible for many unsecured cards with yearly fees.

With a credit score of 660, however, it can be difficult for you to get accepted for a cashback or rewards points credit card. Even though you might be able to get a credit card that offers a small percentage of cashback on transactions, the best rewards cards typically demand a high or very high credit score.

Personal Loans for 660 Credit Score

While you can be eligible for a personal loan with a credit score of 660, you might also need to pay more in fees and interest than someone with a high or very high credit score. Depending on what you require the loan for, these increased rates and fees may make it a less attractive option.

As a result, the interest rate on your new loan may not be modest enough to save you money over the long term if you wish to utilise the personal loan with credit cards and other such products. Thus, if the requirement is not urgent, you can wait and improve your credit score before taking out a personal loan.

Home Loans for 660 Credit Score

If you have a 660 credit score, you will qualify for a majority of the home loans in the UAE - a typical home loan requires a credit score of 660 or higher. With that said, you must still fulfil all additional lending requirements in order to be considered eligible for this loan. This can include having a monthly salary above the prescribed limit, at least two years of stable employment, availability of funds for the down payment, and more.

Auto Loans for 660 Credit Score

In general, a 660 credit score might restrict your possibilities with respect to car loans and may result in higher interest rates and less favourable terms. Nevertheless, if you wish to apply for an auto loan with a 660 credit score, you can consider involving a co-signer or pay a greater portion of the down payment. You might be able to get an auto loan at better conditions if you have a reliable family member or a friend with an excellent credit score ready to share the obligation with you.

Insurance Plans for 660 Credit Score

Generally, insurance companies don’t take your credit score into consideration when deciding to approve your application. However, the credit score is considered in the estimation of your premium amount. If you have a 660 credit score, there are chances that you would need to pay more premiums.

Tips to Improve Your 660 Credit Score

To improve your 660 credit score, you can consider following the methods discussed below –

Avoid late payments whether related to EMIs, credit card bills, utility bills, and so on.
Prioritise the bills that you need to pay anyhow in case you are short on money – this could include settling the amount for revolving accounts and more
Secure a credit builder loan - these loans can help you build your credit score with negligible risk
Opt for a secured credit card (these cards need a refundable security deposit)
Pay your rent on time
Opt for a debt management plan
Avoid using your credit card to the maximum limit

How to Check Your Credit Score?

Policybazaar UAE and al etihad credit bureau (AECB) have partnered to enable real-time checks for your credit score based on the AECB credit score. AECB credit scores, automatically retrieved from the system, can be used to determine whether you, as a Policybazaar UAE user, can qualify for credit cards. With policybazaar.ae responsible for the score verification fee, you can use our website and check your credit score for free.

Key Takeaways

A credit score of 660 falls under the ‘medium’ credit score category, with a 3-star rating being its equivalent (out of 5 maximum stars). With a 660 credit score, you have a slightly better chance of getting a loan or credit card authorised than you would with a lower score. However, there is a chance that you will not be approved for a credit card without a security deposit or a loan with low interest rates.

To enjoy all the products at better rates and conditions, one can improve their credit score and take it to the ‘high’ or ‘very high’ credit score category. Enhancing your score is easy, as you can simply be punctual with all your payments and demonstrate responsible financial management over a considerably long time and have your credit score improve quickly.