A: 690 is a "Fair" Credit Score!
Any credit score in the 650-699 range is generally considered “Fair”.
|Excellent||750 - 850|
|Good||700 - 749|
|Fair||650 - 699|
|Poor||550 - 649|
|Very Poor||300 - 549|
A 690 credit score (Fair Credit) is often viewed by lenders as an acceptable credit risk - meaning you will usually be approved for the credit or loan you are seeking.
But you will probably not receive the more competitive offers and rates that having a "Good" credit score (above 700) can provide.
Any score below 700 could use a boost.
If you want some of the best rates and terms lenders have to offer, you need to work on raising your credit score to at least 725, which is well within the “good” range.
What Will a 690 Credit Score Get You?
A 690 credit score falls within the "Fair" range on the scale.
But what will it get you?
|Item||Do You Qualify?|
|Any Credit Card||NO|
|No Annual Fee Credit Card||YES|
|Credit Card with 0% Financing||YES|
|Best Mortgage Rates||NO|
|Auto Loan with 0% Rate||NO|
|Lowest Auto Insurance Premiums||NO|
How Does a 690 Credit Score Compare?
It's one thing to find out if your credit credit score is "Good" or "Bad". But more importantly, how does it compare to others?
Here's a quick look at how a 690 credit score stacks up:
|% Of People||Range|
|28% of people||750 - 850|
|10% of people||700 - 749|
|16% of people||650 - 699|
|32% of people||550 - 649|
|14% of people||300 - 549|
As shown above, an estimated 16% of all people have a score in the 650-699 range.
How To Improve Your Credit Score The Right Way
Once upon a time, my credit score was 690 too. I wasn't happy. It didn't allow me to get the credit cards and loan rates I desired.
So I decided to make a change.
My score is now around 777 (lucky right?), and I enjoy some of the best rates and terms lenders have to offer.
Find out how I did it:
5 Facts About a 690 Credit Score
- A 690 credit score is considered “Fair” by most credit many lenders, and only 10 points away from “Good” which typically starts at 700 (depending on the scoring model).
- Someone with a 690 credit score should qualify for a mortgage (depending on credit history), but will most likely pay a higher interest rate than someone with 700+ credit score.
- Auto loans are available to people with a 690 credit score, it’s just a matter of terms and interest rates (in other words, how much MORE will you pay for the loan?).
- Similarly, credit cards are also available for applicants with a 690 credit score. Just not the “best” cards available, and watch out for interest rates!
- Personal loans are often available for applicants with a 690 credit score. Again, watch out for interest rates since you’re sub 720.