679 Credit Score: Is 679 a good credit score? - Upstart Learn (2023)

If your credit score is 679, you are right in the middle. According to Experian, the average American consumer has a FICO Score of 714 as of 2021, and anything in the range of 670 to 739 is generally considered to be a good credit score.

Most lenders consider an 679 credit score to be an average credit score that shows you generally pay your bills on time. In this article, we’ll take a deeper dive into what your 679 credit score means when it comes to applying for loans, and what you can do to improve your score.

What does an 679 credit score mean?

As mentioned, an 679 credit score falls within the range that is typically considered to be good credit. Lenders will often consider a score in this range for loan approval. However, a score in this range isn’t in the “very good” or “exceptional” credit tiers, and generally won’t qualify for a lender’s best interest rates or loan terms.

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Borrowers with an 679 credit score are considered to be relatively low risk when it comes to paying money back. Statistical default rates range from 4.6% for consumers in the 660-679 FICO Score range to 1.9% for those in the 720-739 range. While your score is definitely not indicative of bad credit, many borrowers in the good credit score range have late payments, a limited credit history, or adverse credit information (like a loan default) from several years ago, so lenders do tend to be a bit more cautious.

Can I get a credit card with an 679 credit score?

The short answer is yes. You should be able to get a standard (non-secured) credit card with a FICO Score in the realm of good credit scores. Having said that, there are a couple of big caveats.

For one thing, you aren’t likely to qualify for some of the best credit card offers in the market. To get the best rewards credit cards, balance transfer offers, and best 0% APR offers, lenders may want to see excellent credit, with scores significantly higher than yours. You also might not get as high of a credit limit as consumers with higher scores.

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Second, your credit score is just one part of the credit card approval process. Lenders will also take your other debts and employment situation into consideration. In fact, it’s not uncommon for consumers in the elite credit tiers to get rejected because their other debts are a bit too high.

Can I get an auto loan with an 679 credit score?

Absolutely. Your 679 credit score will qualify you for an auto loan, assuming your income justifies it. However, it’s important to realize that your credit score can make a big difference in the interest rate you get. And this is especially true in auto lending.

According to MyFICO, as of November 2022, the average APR on a 60-month new auto loan for someone with a FICO Score of 720 or higher is 5.64%. With a score in the 690-719 range, it’s 6.83%. And for a borrower with a score in the 660-689 tier, the average APR is 9.19%. For context, this means on a $40,000 new car loan, someone with a 730 would pay about $4,000 less in interest than a borrower with a 680, even though the scores are both in the “good credit” category.

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It’s also worth mentioning that interest rates can vary significantly among lenders, even for borrowers with the exact same credit score. So, if you’re buying a home or car, it’s important to shop around for the best loan terms. In fact, the FICO credit score model is designed to encourage rate shopping. Any inquiries on your credit reports for the same type of loan in a short period (usually two weeks) will count as a single inquiry for scoring purposes. Therefore, it doesn’t hurt your credit score to apply at multiple lenders.

Can I get a mortgage with an 679 credit score?

Yes, you should have little trouble qualifying for a mortgage based on your 679 credit score, assuming that your income, employment situation, and assets are sufficient to justify the loan. Conforming mortgages (conventional loans that meet the standards of Fannie Mae or Freddie Mac) require a score of 620, while FHA mortgages with low down payments require a 580. Your score puts you comfortably over both thresholds.
Having said that, there are a few things to keep in mind.

For one thing, you’re unlikely to qualify for a lender’s best mortgage rates. Lenders typically reserve their top rates for borrowers with very good or exceptional credit scores. However, with a 679 credit score, you should qualify for rates on-par with national averages.

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Also, even though your score qualifies you for a mortgage, it’s important to know that the lower your score is, the stronger the rest of your qualifications are generally expected to be. For example, based on Fannie Mae’s latest lending standards, you can get a mortgage with a debt-to-income ratio (DTI) as high as 45% with a standard 20% down payment if you have a credit score above 720. If you don’t, your DTI is capped at 36%.

Can I get a personal loan with an 679 credit score?

You can get a personal loan with an 679 credit score, but not every lender may approve you. Some lenders require scores well into the 700s for consideration. However, depending on the lender, you may get a personal loan with rather competitive terms.

Upstart-powered personal loans are designed primarily for borrowers who may not have top-tier credit but are considered credit-worthy based on non-traditional variables, so you may want to consider checking your loan offers if you’re in the market.

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Take your 679 credit score with a big grain of salt

As mentioned, there is no universal definition of a “good” credit score, and different lenders use credit scores in their lending methodology to different extents. And no metric—including the widely-used FICO Score is a flawless predictor of consumer behavior. In fact, a 2021 study by professors at the University of Pittsburgh found that traditional credit scoring misclassified default risk for about 30% of consumers, especially lower-income and younger consumers.

Upstart in particular aims to look beyond a borrower’s credit score and consider the full picture of their financial and life situation, in order to give qualified borrowers who might have less-than-ideal credit scores the access to borrowing they need and deserve.

How can I make my good credit score great?

With an 679 credit score, you are well above the realm of poor credit, but you’re still in the middle of the pack. If you’re looking to take your credit score to the next level, there are some smart steps you can take. Obviously, every consumer is different and has a unique credit history, but here are a few things to keep in mind if your goal is to improve your credit score.

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  • Keep your credit utilization low. While the most common advice is to use less than 30% of your available credit, the average consumer with a FICO Score of 795 or higher uses just 7% of theirs.
  • Only apply for new credit if you really need it. Hard credit inquiries from within the past 12 months can adversely affect your score, and recently opened accounts can also hurt.
  • Let your credit age. The average consumer with a FICO Score above 795 has an average account age of about 12 years. The length of your credit history makes up 15% of your FICO score, so unfortunately for those just establishing credit, one of the best ways to build your credit report and achieve a higher credit score is simply to wait.
  • Keep paying your bills on time. Payment history is admittedly a no-brainer but is worth mentioning. It’s not uncommon for someone with your score to have a late payment or two, but 96% of consumers with FICO scores above 795 have never been delinquent on a credit account.

FAQs

What can you get approved for with a 679 credit score? ›

As 679 is a good credit score, you should not be limited in your loan options. You'll likely easily qualify for most credit cards, personal loans, auto loans, lines of credit and more. Since you're not in the top range of credit scores, you'll still always want to review your loan terms.

How good is a credit score of 679? ›

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

Can you get a loan with a credit score of 679? ›

A FICO® Score of 679 provides access to a broad array of loans and credit card products, but increasing your score can increase your odds of approval for an even greater number, at more affordable lending terms.

Is 679 a good credit score credit karma? ›

A 679 credit score is generally a fair score. While a lot of people have fair scores, you may still find it difficult to get approved for credit without high fees and interest rates with a score in this range. “Fair” score range identified based on 2021 Credit Karma data.

How much can you get with a 650 credit score? ›

You can borrow as much as $40,000 - $100,000+ with a 650 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

What can I get approved for with a 650 credit score? ›

As someone with a 650 credit score, you are firmly in the “fair” territory of credit. You can usually qualify for financial products like a mortgage or car loan, but you will likely pay higher interest rates than someone with a better credit score. The "good" credit range starts at 690.

Which credit score is most important? ›

FICO® Scores are used by 90% of top lenders, but even so, there's no single credit score or scoring system that's most important. In a very real way, the score that matters most is the one used by the lender willing to offer you the best lending terms.

What does a 697 credit score mean? ›

Your score falls within the range of scores, from 670 to 739, which are considered Good. The average U.S. FICO® Score, 714, falls within the Good range.

What is the lowest credit score to buy a car? ›

In general, you'll need a credit score of at least 600 to qualify for a traditional auto loan, but the minimum credit score required to finance a car loan varies by lender. If your credit score falls into the subprime category, you may need to look for a bad credit car loan.

Can I get a 50k loan with a 650 credit score? ›

For a loan of 50k, lenders usually want the borrower to have a minimum credit score of 650 but will sometimes consider a credit score of 600 or a bit lower. For a loan of 50k or more, a poor credit score is anything below 600 and you might find it difficult to get an unsecured personal loan.

How high does your credit score have to be to get a $10000 loan? ›

To get approved for a $10,000 personal loan, you'll typically need a credit score of 620 or higher — though keep in mind that some lenders are willing to work with borrowers who have scores lower than this.

What is the minimum credit score for a personal loan? ›

Generally, borrowers need a credit score of at least 610 to 640 to even qualify for a personal loan.

What interest rate can I get with a 676 credit score? ›

676credit score credit card options

You can expect an average interest rate of 13.5 to 16.5 percent on most credit cards. A 676 credit score is not a guarantee of credit card approvals.

What is a good credit score by age? ›

Average Age by Credit Score Tier
Credit Score TierAverage Age
Excellent (800-850)56
Good (670-739)49
Fair/Limited (580-669)47
Bad (300-579)42
Feb 6, 2023

What raises credit score? ›

Factors that contribute to a higher credit score include a history of on-time payments, low balances on your credit cards, a mix of different credit card and loan accounts, older credit accounts, and minimal inquiries for new credit.

How to go from 650 to 750 credit score? ›

How To Increase Your Credit Score
  1. Check Your Credit Report. The first step you should take is to pull your credit report and check for errors. ...
  2. Make On-Time Payments. ...
  3. Pay Off Your Debts. ...
  4. Lower Your Credit Utilization Rate. ...
  5. Consolidate Your Debt. ...
  6. Become An Authorized User. ...
  7. Leave Old Accounts Open. ...
  8. Open New Account Types.

How quickly can credit score increase? ›

Changes to your credit scores rarely happen overnight — even if you're taking action to make improvements quickly. Your credit scores typically update once per month, but it's possible they may update more frequently depending on your unique financial situation.

Why can't I get a loan with a 650 credit score? ›

A 650 credit score, like any other FICO® Score in the fair range, will likely exclude you from getting a mortgage lender's best-available interest rate. Some lenders may consider a 650 FICO® Score grounds for denying a mortgage application altogether, but a 650 score meets many lenders' minimum lending requirements.

Can I buy a car with 650 credit score? ›

There is no set credit score you need to get an auto loan. If you have a credit score above 660, you will likely qualify for an auto loan at a rate below 10% APR. If you have bad credit or no credit, you could still qualify for a car loan, but you should expect to pay more.

How to improve a 650 credit score? ›

6 easy tips to help raise your credit score
  1. Make your payments on time. ...
  2. Set up autopay or calendar reminders. ...
  3. Don't open too many accounts at once. ...
  4. Get credit for paying monthly utility and cell phone bills on time. ...
  5. Request a credit report and dispute any credit report errors. ...
  6. Pay attention to your credit utilization rate.

How can I get a personal loan with a 650 credit score? ›

Here are some of the ways in which you can get a personal loan for a low CIBIL™ score of 650.
  1. Show Income Evidence In Support of Loan Repayments: ...
  2. Apply For A Low Personal Loan Amount: ...
  3. Apply For a Loan With A Co-Applicant or a Guarantor: ...
  4. Resolve Errors in Your Credit Report:
Dec 9, 2022

What credit score does everyone look at? ›

Credit scoring model used: There are several models out there for scoring your credit history. But typically, lenders use one of the two main credit scoring models — FICO or VantageScore.

What credit score is good enough for anything? ›

For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750.

What are the top 3 credit scores? ›

These agencies include Equifax, Experian, and TransUnion.

Can I get a home loan with a 697 credit score? ›

A conventional mortgage usually requires a minimum credit score of 620. This means that with a score of 697, you have a high probability of being approved for a mortgage loan. But lenders won't be offering you the best interest rates out there—some experts suggest that you need score of 760 to get those.

Can I get a car with a credit score of 697? ›

Generally speaking, banks require a minimum credit score of 600 to give an auto loan without any down payment. However, you CAN buy a car with a score of 400 or a score of 850. There are a lot of variables that weigh into determining your loan eligibility and interest rates available.

What is the auto loan rate for a 697 credit score? ›

According to MyFICO, as of November 2022, the average APR on a 60-month new auto loan for someone with a FICO Score of 720 or higher is 5.64%. With a score in the 690-719 range, it's 6.83%. And for a borrower with a score in the 660-689 tier, the average APR is 9.19%.

What credit score do I need to buy a $20000 car? ›

What Is the Minimum Score Needed to Buy a Car? In general, lenders look for borrowers in the prime range or better, so you will need a score of 661 or higher to qualify for most conventional car loans.

How can I build my credit fast? ›

Here are some strategies to quickly improve your credit:
  1. Pay credit card balances strategically.
  2. Ask for higher credit limits.
  3. Become an authorized user.
  4. Pay bills on time.
  5. Dispute credit report errors.
  6. Deal with collections accounts.
  7. Use a secured credit card.
  8. Get credit for rent and utility payments.
Nov 1, 2022

Which credit score do car dealerships use? ›

Most car dealerships use the FICO Score 8 scale to determine your eligibility for a loan. The FICO score is the most widely used because it is considered to be the most accurate assessment of your credit standing. It takes the scores of all three major credit bureaus to create a FICO score.

Can I get a 15000 loan with 650 credit score? ›

Just about any lender that caters to people with fair credit scores (640 to 699) will offer loans of $15,000 or more, at least to some applicants. Lenders' minimum loan amounts typically start around $1,000 to $3,000. And their maximums tend to range from around $25,000 to $100,000.

What is the easiest loan to get approved for? ›

The easiest loans to get approved for are payday loans, car title loans, pawnshop loans and personal loans with no credit check. These types of loans offer quick funding and have minimal requirements, so they're available to people with bad credit.

What can I finance with a 600 credit score? ›

Best Personal Loans for a 600 Credit Score Comparison
LenderAPR RangeOrigination Fee
Avant9.95% - 35.99%Up to 4.75%
LendingClub7.04% - 35.89%3% to 6%
LendingPoint7.99% - 35.99%0% to 6%
Achieve Personal Loans7.99% - 29.99%1.99% to 4.99%
5 days ago

How to qualify for a 30k personal loan? ›

You will likely need a credit score of at least 660 for a $30,000 personal loan. Most lenders that offer personal loans of $30,000 or more require fair credit or better for approval, along with enough income to afford the monthly payments.

What is the best credit score for loan? ›

A CIBIL score has a range between 300 and 900. You should ideally have a score that is closer to 900 as it helps you get better deals on loans and credit cards. Generally, a CIBIL score of 750 and above is considered as ideal by majority of lenders. You can get a personal loan with a CIBIL of 750 and above.

How fast can you build a 800 credit score? ›

Depending on where you're starting from, It can take several years or more to build an 800 credit score. You need to have a few years of only positive payment history and a good mix of credit accounts showing you have experience managing different types of credit cards and loans.

Can I get a loan with a 598 credit score? ›

Credit Rating: 598 is considered a bad credit score. Borrowing Options: Most borrowing options are available, but the terms are unlikely to be attractive. For example, you could borrow a small amount with certain unsecured credit cards or a personal loan for damaged credit, but the interest rate is likely to be high.

Can I get a loan with 680 credit score? ›

You may pay higher rates than others with a 680 score

You can usually qualify for financial products like a mortgage or car loan, but you will have to pay a higher interest rate than someone with a good or excellent credit score.

Can you get a personal loan with a 549 credit score? ›

A 549 credit score can be a sign of past credit difficulties or a lack of credit history. Whether you're looking for a personal loan, a mortgage or a credit card, credit scores in this range can make it challenging to get approved for unsecured credit, which doesn't require collateral or a security deposit.

Can I buy a house with a credit score of 679? ›

Mortgages with a 679 Credit Score

Around 25% to 30% of first mortgages go to borrowers with credit score below 700, depending on the year, so you should be able to finance your home purchase.

What can a 600 credit score get you? ›

Since 600 is considered to be a fair credit score, borrowers with this score generally won't qualify for credit cards with large welcome bonuses, generous rewards and perks or low APRs. However, there are still some options available — using a secured card or becoming an authorized user on someone else's card.

What can you get approved for with a 680 credit score? ›

You can borrow $50,000 - $100,000+ with a 680 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

What is a good credit score to buy a house? ›

It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly payments.

How can I raise my credit score in 30 days? ›

Quick checklist: how to raise your credit score in 30 days
  1. Make sure your credit report is accurate.
  2. Sign up for Credit Karma.
  3. Pay bills on time.
  4. Use credit cards responsibly.
  5. Pay down a credit card or loan.
  6. Increase your credit limit on current cards.
  7. Make payments two times a month.
  8. Consolidate your debt.

What is the lowest credit score to buy a house? ›

The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable rate mortgages (ARMs).

How can I raise my credit score by 50 points? ›

To raise your credit score by 50 points, you can dispute errors on your credit report, pay your bills on time and lower your credit utilization. Credit scores rise and fall based on the contents of your credit report, so adding positive information to your report will offset negative entries and increase your score.

How can I raise my credit score from 600 to 800? ›

5 Habits To Get 800+ Credit Score
  1. Pay Your Bills on Time – All of Them. Paying your bills on time can improve your credit score and get you closer to an 800+ credit score. ...
  2. Don't Hit Your Credit Limit. ...
  3. Only Spend What You Can Afford. ...
  4. Don't Apply for Every Credit Card. ...
  5. Have a Credit History. ...
  6. What an 800+ Credit Score Can Mean.

How to raise credit score from 680 to 720? ›

6 easy tips to help raise your credit score
  1. Make your payments on time. ...
  2. Set up autopay or calendar reminders. ...
  3. Don't open too many accounts at once. ...
  4. Get credit for paying monthly utility and cell phone bills on time. ...
  5. Request a credit report and dispute any credit report errors. ...
  6. Pay attention to your credit utilization rate.

How can I raise my credit score from 680 to 750? ›

Here are some of the best ways.
  1. Pay on Time, Every Time. ...
  2. Reduce Your Credit Card Balances. ...
  3. Avoid Taking Out New Debt Frequently. ...
  4. Be Mindful of the Types of Credit You Use. ...
  5. Dispute Inaccurate Credit Report Information. ...
  6. Don't Close Old Credit Cards.
Feb 7, 2021

Will I get approved with a 680? ›

FICO puts a 680 credit score in the “good” range. That means a 680 credit score is high enough to qualify you for most loans.

What credit score do I need to buy a $250000 house? ›

While credit score requirements vary based on loan type, mortgage lenders generally require a 620 credit score to buy a house with a conventional mortgage.

How accurate is credit karma? ›

Here's the short answer: The credit scores and reports you see on Credit Karma come directly from TransUnion and Equifax, two of the three major consumer credit bureaus. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus.

What is the average credit score by age? ›

Average Credit Score by Age
AgeAverage FICO Score
18-24679
25-40686
41-56705
57-75740
1 more row

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