A 640 FICO score is considered acceptable and typically qualifies a borrower to receive prime rates, according to Credit.org. Compared to borrowers scored under 620, an individual in the 620 to 680 score range is usually approved for credit and has a projected delinquency rate of 15 to 30 percent.
In most cases, a 640 score does not qualify borrowers for the most competitive interest rates, Credit.org states. It is high enough, however, to help borrowers save money by avoiding the expensive loan terms offered to borrowers in the 550 to 620 score range.
Creditworthiness is measured on a scale of 300 to 850, and credit bureaus use data collected from millions of people to compare credit habits and determine which borrowers present the most risk, according to myFICO. The three major credit bureaus all generate FICO scores and approval criteria independently, so each creditor may view a borrower's level of risk differently.