A 690 FICO® score is considered Good (ranging from 670–739), indicating you are a low-to-moderate risk borrower. While you will likely qualify for most credit cards and loans, it is slightly below the 2024 U.S. average of 715, meaning you may not secure the lowest interest rates available.
A 690 credit score is good but slightly below the national average. Individuals can qualify for various loans and credit cards, though not with the best terms. Timely payments are essential, constituting 35% of the FICO Score. Keeping credit utilization low, ideally between 10% and 30%, is crucial.
You can borrow $50,000 - $100,000+ with a 690 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.
A good FICO score is generally considered to be in the 670-739 range, but scores of 740 and above (Very Good) and especially 800+ (Exceptional) offer the best loan terms and interest rates, while scores below 600 (Fair/Poor) can make getting credit difficult. A score of 700 or higher is often the benchmark for "good," with scores in the mid-to-high 700s or 800s signaling low risk to lenders.
Trying to raise your credit score?
Yes, you can likely get a $50,000 loan with a 700 credit score, as this falls into the "good" credit range (670-739) that unlocks better rates, but approval also hinges on your income, debt-to-income (DTI) ratio (ideally below 36%), and overall credit history, with lenders looking for stability and repayment ability, so prequalifying with multiple lenders helps compare terms.
Your FICO Score is a specific, widely-used type of credit score, but it's not the only credit score, as other models (like VantageScore) and lender-specific scores exist, though FICO scores are used in over 90% of lending decisions, making them the most important to know for loans and credit cards. Think of "credit score" as the general term for a risk number, and "FICO Score" as a popular brand, like how "soda" is general and "Coca-Cola" is specific.
Payment history is the most important factor in determining your credit score, making up 35% of the calculation. If you've had a history of late or missed payments, this can keep your score from rising above 690.
Quick Answer. While it's possible to get an auto loan with nearly any credit score, most lenders are looking for buyers in the prime credit score range with a credit score of 661 or above for the best terms and rates.
Younger generations have average scores in the good credit score range (670 to 739), while older generations have average scores in the very good range (740 to 799). The average credit score was 715 in 2024, according to Experian data. That average, as of September 2024, is unchanged from the same month in 2023.
A 670 credit score is within the "good" credit score range, but on the lower end of this range, as it goes from 661-780 for VantageScore ® and 670-739 for FICO ® scores. You may still be able to qualify credit cards and loans with a 670 credit score.
While there's not a specific credit score threshold that all property managers and landlords use, they are typically looking for renters with credit in the "good" range, which is generally 690 to 719 on the commonly used 300-850 scale.
For most people, increasing a credit score by 100 points in a month isn't going to happen. But if you pay your bills on time, eliminate your consumer debt, don't run large balances on your cards and maintain a mix of both consumer and secured borrowing, an increase in your credit could happen within months.
Lenders know what they are getting when they review a FICO Score. FICO Scores are trusted to be a fair and reliable measure of whether a person will pay back their loan on time. By consistently using FICO Scores, lenders take on less risk, and you get faster and fairer access to the credit you need and can manage.
The length of time it will take to improve your credit scores depends on your unique financial situation, but you may see a change as soon as 30 to 45 days after you have taken steps to positively impact your credit reports.
FICO® Scores are a type of credit score, but not all credit scores are FICO® Scores. Checking your FICO® Score may be more beneficial, as 90% of top lenders use FICO® Credit Scores. There are different versions of FICO® Credit Scores finetuned for different credit products (like home and car loans).
A “good” to “excellent” credit score—the typical $200K loan credit score is 700 and above. Some lenders may approve scores in the 660 to 699 range, but with less favorable terms.