What Can You Get Approved For With a 589 Credit Score?

With a 589 credit score, you can likely get approved for a secured credit card, an auto loan, or a personal loan from a credit union. You may also qualify for an FHA mortgage with 3.5% down. You'll pay more than borrowers with stronger credit, because your score sets your rate. At 589, you're 12 points from Experian's near prime auto tier and 81 points from good credit.

Is 589 a poor credit score?

No, but it's close. FICO's fair range runs from 580 to 669, so 589 sits near the bottom of it, 9 points above the 580 cutoff. At 670, you'd move into good credit.

A score in this range usually means your credit report shows one or more of these issues:

• Missed payments. A payment 30 days late gets reported and stays on your report for seven years. Its effect on your score shrinks as it ages, especially when newer on-time payments build behind it.
• High card balances. Using a large share of your available credit lowers your score. Unlike a late payment, this changes as soon as your balances come down.
• A short or thin credit history. A thin credit file, meaning a report with only a few accounts or accounts that haven't been open long, gives scoring models less to go on.

Many lenders will work with a 589 score, but expect terms closer to what poor credit gets than to what good credit gets. That includes higher rates, lower limits, bigger deposits, and, in some states, higher car insurance premiums.

Read more >> What Can You Get Approved For With a 620 Credit Score?

What can you get approved for with a 589 credit score?

More doors are open at 589 than in the poor range, but approval isn't automatic and prices run high. Knowing which products are reachable can save you an application.

Credit cards

Some unsecured cards designed for fair credit will approve a 589 score, but not every issuer will. Expect a low limit and a high APR. Before applying, check whether the issuer offers prequalification. It uses a soft credit check, so it won't add a hard inquiry to your report.

A secured credit card is your most likely approval. You put down a refundable deposit that usually becomes your credit limit. A $500 deposit gets you a $500 limit, for example. You generally get it back if you close the account in good standing or are graduated to an unsecured card with steady on-time payments.

Personal loans

A personal loan at 589 is realistic, but it's harder to get than at a higher fair score. Expect a smaller amount and a higher rate than a borrower with good credit would get.

Start with a credit union if you belong to one or can join. Federal credit unions can't charge more than 18% on most loans. Some also offer payday alternative loans (PALs) of up to $2,000 repaid over one to 12 months. Application fees are capped at $20, and rates can't go higher than 28%.

Online lenders that work with fair credit are another option, though their rates run higher. Compare offers using prequalification, so only the lender you choose runs a hard credit check. Any of these is cheaper than a payday loan, where a typical $15 fee per $100 borrowed works out to an APR of almost 400%.

Auto loans

Approval for a car loan at 589 is often easier than approval for a personal loan with the same score. That's because your car is the collateral: If you stop paying, the lender can take it back and sell it to cover the loan. That lowers the lender's risk, but it also means falling behind puts your car at risk.

A 589 score falls in Experian's subprime tier (501 to 600). Your credit score plays a major role in the interest rate you're offered on a car loan. On a $20,000, 60-month new car loan at average rates, a subprime borrower would pay about $5,300 more in interest than a super prime borrower, and about $4,300 more than a prime borrower. Experian sorts these tiers by VantageScore 4.0, so your FICO score may place you a little differently.

If banks and credit unions turn you down, buy here, pay here dealers finance cars themselves. They often require weekly or biweekly payments and charge much higher rates than traditional loans.

Use an auto loan calculator to check payment amounts before you sign.

Mortgages

With a 589 credit score, a mortgage is within reach, but your options are narrower and costs depend on the type:

• FHA loans. Borrowers with scores of 580 or higher can qualify with 3.5% down. On a $250,000 home, that's $8,750 up front. At 589, you're only 9 points above that cutoff. Scores from 500 to 579 need at least 10% down, or $25,000 on the same home. Each lender can set higher minimums.
• Conventional loans. Fannie Mae no longer sets a minimum score for loans run through its automated system, but lenders still set their own, and some may want a higher score than 589. Fannie Mae also charges lenders an upfront fee on the loans it buys, based on your score and down payment. At 20% down, the fee for scores of 639 and below is 2.75% of the loan amount, compared with 0.375% at 780 or higher. On a $200,000 loan, that's $5,500 versus $750, and you'd pay it through a higher rate or more cash at closing. The fee doesn't drop until 640, where it falls to 2.25%, or $1,000 less on a $200,000 loan.
• USDA loans. These are for homes in eligible rural and suburban areas with income limits. USDA doesn't set a minimum score, but lenders typically look for 620 to 640. At 589, you're below that range, so expect fewer lenders to say yes.

A lender can show you an FHA and a conventional quote side by side. Our mortgage calculator can help you compare the monthly payments.

What interest rates can you expect with a 589 credit score?

Expect rates toward the high end of the range a lender offers. In its September 8, 2026, G.19 release, the Federal Reserve reported an average of 22.15% for card accounts charging interest and 11.86% for 24-month bank personal loans. Those averages cover borrowers at every credit level. With a 589 score, your offers are likely to come in above them.

The rate applies to the whole balance, so a few points add up. If you can wait to borrow, 12 more points could move you into Experian's near prime auto tier, which starts at 601.

5 ways to raise a 589 credit score

1. Check your credit reports for errors. You can get all three for free every week at AnnualCreditReport.com. If something is wrong, like an account that isn't yours or a late payment you made on time, dispute it with the bureau. Disputing is free.
2. Bring any past-due accounts current, if you can. If you're juggling more than one, the National Foundation for Credit Counseling (NFCC) can connect you to free or low-cost counseling at 800-388-2227.
3. Pay every bill on time. Payment history is the biggest factor in your score, making up 35% of a FICO Score. At 589, one new late payment could also drop you below 580.
4. Pay down card balances. Using less of your available credit can raise your score as soon as your issuer reports the lower balance, which makes it a fast way to close a small gap.
5. Apply only when you need to. Each application can add a hard inquiry, which takes a few points off for about a year. Prequalification uses a soft check, so prequalify first where you can.

If your report is thin on accounts, adding one helps. A Kikoff Credit Account reports your payments to all three bureaus.

Read more >> How to Build Credit

Bottom line

A 589 score can get you approved for more than you might think, possibly including an FHA mortgage with 3.5% down. But your score also sets your price. In Experian's tiers, near prime starts at 601, 12 points away. In FICO's ranges, good credit starts at 670, 81 points away. Meanwhile, staying at 580 or higher keeps your FHA down payment at 3.5%.

Kikoff brings credit building, bill and rent reporting, AI-powered disputes, credit monitoring, and debt negotiation into one place. Sign up with no credit check. Plans start at $5 a month.