Credit Score Minimum: What You Need to Know to Get Approved

When you apply for a loan, credit card, or even an apartment, lenders don’t just look at your income—they check your credit score, a three-digit number that tells lenders how risky you are to lend to. Also known as a FICO score, it’s the single most important number in your financial life. There’s no universal credit score minimum that works for everyone. One bank might approve you at 580, while another rejects you at 620. Why? Because it’s not just about the number—it’s about what’s behind it.

Your credit score is built from five things: payment history, how much you owe, how long you’ve had credit, new credit applications, and the mix of accounts you use. Miss a payment? That sticks around for seven years. Max out your cards? Even if you pay on time, your score drops. That’s why debt consolidation doesn’t magically fix your score—it just rearranges the mess. If you settled a debt or missed payments before consolidating, those late marks are still there. And if you opened a new loan to consolidate, that hard inquiry drops your score another few points. The real win? Paying down balances and keeping accounts open after consolidation. That’s what rebuilds trust over time.

Lenders care about your bad credit history because it predicts future behavior. A person who defaulted on student loans is more likely to default again. That’s why even if you have a 600 score, a history of wage garnishment or tax refund seizures (as seen in our posts on student loan defaults) makes lenders nervous. The same goes for home equity loans—tighter rules in 2025 mean even a 650 score might not be enough if your debt-to-income ratio is too high. Approval isn’t just about hitting a number. It’s about proving you’ve changed.

So what’s the real minimum? For most personal loans in Ireland or the UK, you’ll need at least 600 to have a shot. For mortgages, 620 is the bare minimum. But if you want the best rates? Aim for 700+. The good news? You don’t need perfect credit to get approved. You just need to show you’re managing what you’ve got. Look at the posts below—they break down exactly how people with bad credit got loans, fixed their scores after consolidation, and avoided the traps that keep others stuck. Whether you’re wondering why your home equity loan got denied or how to raise your score without a credit card, the answers are here.