Is 676 a Good Credit Score?

By Jennifer Calonia Coates

(Last Updated – 05/2024)

A 676 credit score is typically characterized as “good,” although it is at the low end of that range. It is much closer to the next category of “fair” vs. the higher level of “very good.” With a credit score of 676, you can expect to qualify for credit cards and a variety of loans. However, you will likely not be offered the most favorable interest rates and terms, which are usually reserved for people with higher scores.

Here, you’ll learn more about what sorts of access to credit you can expect with a 676 credit score.

What Does a 676 Credit Score Mean?

A credit score of 676 is considered “good.”

Categorizations can be confusing, given the varying credit score ranges and scoring models in current use. For instance, there are a few differences between the FICO score vs. credit score models, but most will classify a 676 credit score as good.

Here’s how credit scores typically stack up in the FICO^® credit model:

•   Exceptional: 800-850

•   Very Good: 740-799

•   Good: 670-739

•   Fair: 580-669

•   Poor: 300-579

Next, consider what “good” means. It’s likely that you’ve demonstrated a borrowing history that’s acceptable. You practice responsible borrowing and payment habits most of the time, but might have overextended your credit in the past or made a late payment or two.

Experian, a major U.S. credit bureau, reports that 36% of consumers with a 676 credit score have a payment that’s 30 days past due on their credit report.

According to FICO, the average borrower in the U.S. has a credit score of 718. This national average credit score is somewhat higher than your 676 FICO score, but both fall under a “good” rating. If you were to build your credit score (say, by always paying on time or lowering your debt-to-income ratio), you might find you qualify for more favorable credit offers.

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What Can You Get With a 676 Credit Score?

Having a 676 FICO score can help you unlock different types of opportunities. You’ll learn more about accessing credit, from credit cards to home loans, in a moment, but there are other perks to having a solid credit score.

For example, some landlords and property management companies check your credit score to determine how well you’ve kept up with your other financial obligations. In some cases, a prospective employer might request access to your credit report to see how responsible you have been with your finances in the past.

Can I Get a Credit Card with a 676 Credit Score?

Applicants with a credit score of 676 typically meet the minimum eligibility requirements for a credit card. However, card issuers have different requirements so read their borrower criteria closely before applying.

Having a good credit score can result in getting approved for new revolving credit, but don’t expect to receive the best offer that the card issuer advertises. You might not qualify for its lowest, most enticing interest rate, unlike an applicant with excellent credit. In other words, with a 676 credit score, you are likely to pay more for credit than those with higher ratings.

The Consumer Financial Protection Bureau found that consumers with a prime credit rating between 670 to 739 had an average credit card APR range of 20% to 22%. By comparison, super prime applicants with scores of 740 or higher had an APR range of 16% to 18%.

Additionally, your offer might not include special credit card incentives, like a 0% APR promotion that’s typically reserved for applicants with exceptional credit scores.

Can I Get an Auto Loan with a 676 Credit Score?

A 676 credit score can help you get an auto loan, assuming you meet the lender’s other minimum underwriting requirements. The average APR you can secure with a 676 credit score depends on the type of car you’re financing.

Here’s a comparison of average new and used car loan rates as of early 2023 by VantageScores, according to Experian.

Credit Rating	New Auto Loan Rate	Used Auto Loan Rate
Super Prime (720+)	5.18%	6.79%
Prime (660 – 719)	6.40%	8.75%
Nonprime (620 – 659)	8.86%	13.28%
Subprime (580 – 619)	11.53%	18.55%
Deep Subprime (579 or lower)	14.08%	21.32%

If you’re looking for an auto loan, there are ways to reduce your loan rate. For example, consider increasing your down payment or shortening the loan’s repayment term to see if it makes a meaningful difference with the APR.

Can I Get a Mortgage with a 676 Credit Score?

For a conventional mortgage loan, the minimum credit score you’d need to qualify is typically 620. Based on a 676 score, you’d likely meet mortgage lenders’ credit requirements. Additionally, there are other mortgage products available that accept even lower credit scores, like an FHA Loan. Depending on your down payment amount, there may be loans available to those with a credit score of 500 or more.

Remember, mortgage loans are typically the largest and longest debt you’ll take on in your lifetime, so shopping around for the best rate is essential. According to the Federal Reserve Bank of St. Louis, the median home purchase at the end of 2023 was $417,700. Assuming you put 20% down, the amount you’d need to finance is $334,160.

Based on this loan amount, myFICO estimates the following APRs for a 676 credit score and other ranges in early 2024:

FICO Score	30-Year APR
760-850	6.82%
700-759	7.04%
680-699	7.21%
660-679	7.43%
640-659	7.86%
620-639	8.40%

Although the APR differences might appear insignificant, the interest adds up over time. For example, a 676 credit score at 7.43% APR results in a $2,320 monthly payment. If you can build your credit score to 760 or higher, your payment drops to $2,182. That’s a $138 difference each month, and $49,680 over a 30-year loan.

Recommended: Which Credit Score Do Mortgage Lenders Use?

Can I Get a Personal Loan with a 676 Credit Score?

Whether you’re considering a personal loan for a new water heater, a 40th birthday bash, or a credit card consolidation loan to pay off your debt, your good credit provides options. However, personal loan rates vary significantly based on your credit score.

According to Credible data, the average APR for a three-year personal loan with a 676 credit score is 26.92%. That’s notably steep compared to the 13.21% average APR for borrowers with a 780 or higher credit score.

If you need the loan funds urgently and don’t have time to improve your credit, one option is finding a willing cosigner who has stronger credit. A cosigner is an individual who agrees to take responsibility for the loan if you don’t make payments. Since they’re assuming liability for the debt, if payments aren’t made on time, their credit — and your own — are negatively affected.

Recommended: How to Build Credit Over Time

Takeaway

A 676 credit score qualifies as a “good” credit score; however, it is at the low end of that range. With a score of 676, you will likely qualify for an array of credit card and loan offers, but probably not at the most favorable rates or with the very best terms. Those options are typically reserved for individuals with scores in the “very good,” “excellent,” or “exceptional” category.

As you explore different ways to access credit, a personal loan can be a valuable option.

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