A: 695 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 695 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 695 Credit Score Get You?
A 695 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 695 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 695 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 695 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 695 Credit Score
- A 695 credit score is considered “Fair”, but it’s only 5 points away from being a “Good” credit score, which starts at 700.
- A person with a 695 credit score should be able to obtain a mortgage, but will probably pay a little higher interest than someone with better credit.
- Don’t worry about a 695 credit score keeping you from getting an auto loan: Auto loans are available for almost any credit score. Question is – what interest rate will you be paying?
- With a 695 credit score, you should be able to get credit cards, just not the best ones available.
- Personal loans should be available for someone with a 695 credit score, but again, probably at a higher cost than someone with a 720+ credit score.