614 credit score: A guide to credit scores

Quick insights

A credit score is more than just a number—it’s one of a variety of factors considered during credit applications.

If you have a credit score of 614, you may wonder what it means for your financial future. Let’s break down some potential implications of a 614 score and explore ways to move forward.

Understanding a 614 credit score

Credit scores give lenders a sense of your credit risk. The most widely used models—FICO^® and VantageScore^®—range from 300 to 850. In general, the higher your score, the stronger your credit profile. Below, we’ve outlined the scoring ranges for these two credit scoring models.

VantageScore 3.0:

FICO Score 8:

A 614 credit score falls within the near prime range for VantageScore 3.0 and the fair range for FICO 8. Regardless of which of the two scoring models is used to generate your score, this number falls within the lower tier of credit scores.

While many factors influence lenders’ decisions on credit applications, with a 614 score, you may encounter:

Fortunately, a 614 score is not the end of the road. You can take steps to improve your credit score over time.

Some contributing factors to a 614 score

Some contributing factors to a 614 score may include:

Remember, each credit profile is unique, and scores can change from month to month depending on your financial habits.

Applying for financial products with a 614 credit score

You may get approved for loans or credit cards with a 614 credit score. However, it could be more challenging, and the terms may be stricter.

Here are a few things to expect for some common financial products:

Credit cards

Some issuers offer cards for fair credit, but they may come with lower limits and higher annual fees. Secured credit cards, which require a refundable deposit, are typically more accessible. Note that Chase does not offer secured credit cards. There are unsecured cards for fair credit as well.

Car loans

Buying a car may be possible with a 614 credit score, but different dealerships and lenders may use different credit scoring models and different scales to make their own loan decisions, which could impact your loan terms and approval odds. Even with a “good” credit score, you may be declined, subject to higher interest rates or need to provide a larger down payment than if you had a higher credit score. To help improve your chances for approval, it is usually beneficial to add a co-signer to the loan—if the lender allows—to share financial responsibility. All applicants should take note that while important, your credit score is just one of several factors lenders take into account when approving a loan.

Personal loans

Some lenders start considering applicants with scores in the near prime or fair range, but higher fees and interest rates typically apply. Applications may be strengthened by a steady income, fewer recent delinquencies and a low debt load.

Note: Chase does not offer personal loans.

Mortgages

Buying a home with a 614 credit score may be possible, but it may be more challenging than if you had an excellent credit score. Some lenders may require a larger down payment, charge higher interest rates or have stricter loan terms.

Whatever you decide, carefully review and compare different lenders and loan options to find your best fit for your specific circumstances. While important, credit scores are just one of several factors lenders use when approving home loans. In general, some lenders may require a larger down payment, charge higher interest rates or have stricter loan terms for mortgage applicants they may consider in the "good" range.

Tips to strengthen an application

To help improve your approval odds, you may want to consider the following tips:

Each lender sets their own requirements, so outcomes may vary. Understanding where you stand, however, may help you set realistic expectations.

Steps to improve a 614 credit score

A credit score in near prime or fair ranges may be high enough to get approved for certain credit products, but a higher credit score may lead to better rates and more options. Here are some actionable steps that may improve your score over time:

1. Check and dispute errors

Credit report mistakes can drag your score down. If you have errors or inaccuracies that might be impacting your score, disputing them may be beneficial.

You can also monitor your credit score with Chase Credit Journey^®, a free online tool that shows you why your credit score changed and by how many points.

2. Consider credit-building tools

When used responsibly, secured credit cards or credit-builder loans may help add positive payment history. Additionally, if you’re added as an authorized user on someone else’s card, and the primary cardmember consistently makes on-time payments, this may help improve your credit profile.

3. Limit new applications that lead to hard checks

Some applications for new credit trigger a hard credit check, which may temporarily lower your credit score. Being aware of this impact can help you make informed decisions about applying for credit.

4. Monitor progress and set goals

Improving your score is a gradual process, often more of a marathon than a sprint. Using credit-monitoring tools or simulators to track your progress and celebrate incremental wins might help you stay motivated.

5. Avoid common mistakes

Missed payments, accumulating new debt, or closing old accounts (which can reduce your average credit age) may negatively impact your credit score. Maintaining consistent, positive financial habits over time is associated with improved credit health.

In summary

A 614 credit score falls into the fair or near prime range, depending on the scoring model. Having a credit score in this range may make borrowing more challenging, with higher interest rates and stricter approval criteria for loans, credit cards and rentals.

Tips for improving a 614 score include focusing on making on-time payments, regularly checking credit reports for and disputing any errors, reducing credit utilization by lowering balances and considering credit-building tools like secured credit cards. Note that Chase does not offer secured credit cards. These consistent positive actions may gradually improve your score over time, potentially opening doors to better credit opportunities.