Is 677 a Good Credit Score?

By Rebecca Lake

Your credit scores tell lenders how likely you are to repay your debts on time. A higher score can make it easier to qualify for loans and credit cards with favorable rates. But what exactly is “good” credit? Is a 677 score good — or bad?

According to the FICO® scoring model, which is the one most commonly used by lenders, a 677 credit score lands in the “good” credit tier (670 to 739). This means you fall right around the middle — below “very good” and “exceptional” credit but above “poor” and “fair” credit.

What can a 677 credit score get you? Here’s a closer look at what it means for your finances.

What Does a 677 Credit Score Mean?

FICO credit scores are calculated based on information in your credit reports. This information is grouped into five categories and each is weighted differently. Here’s how it breaks down:

•   Payment history (how often you pay your bills on time): 35%

•   Amounts owed (how much of your available credit you’re using): 30%

•   Length of credit history (how long you’ve had credit and the average age of your credit accounts): 10%

•   Credit mix (having different types of debt, such as revolving credit and installment loans): 10%

•   Credit inquiries (recent applications for new credit): 10%

FICO scores range from 300 to 850 and are grouped into five different tiers:

•   300-579: Poor

•   580-669: Fair

•   670-739: Good

•   740-799: Very Good

•   800-850: Exceptional

Your 677 credit score falls in the “good” credit tier. However, it just makes it, and it’s lower than the average FICO credit score in the U.S., which is 715.

With a 677 score, many lenders will consider you to be an “acceptable” borrower and eligible for a wide range of credit products. However, they likely won’t offer you their lowest-available rates or premium product offers.

What Else Can You Get with a 677 Credit Score?

So is 677 a bad credit score when you need to borrow? Not at all. Here’s what you can expect with different types of lending products, including credit cards, auto loans, mortgages, and personal loans.

Can I Get a Credit Card with a 677 Credit Score?

Yes, a 677 credit score should put you in the path for many unsecured credit cards (which don’t require a deposit to open). However, your “good” credit may not be good enough for a premium credit card that offers generous rewards, travel benefits, or cash-back incentives. You may also be offered a higher-than-average annual percentage rate (APR).

With a 677 score, your credit card options might include:

•   0% APR balance transfer credit cards

•   Cards that earn a limited amount of cash back on purchases

•   Cards with no annual fee

•   Basic travel credit cards that earn points or miles

•   Cards that offer a sign-up bonus

•   Retail store credit cards

Keep in mind that your credit score isn’t the only thing a lender will look at when you apply for a credit card. They typically also pay close attention to your debt-to-income ratio (DTI), which is the percentage of your gross monthly income that goes toward paying your debts, to make sure you have enough income (and room in your budget) to manage the card’s standard credit line.

Recommended: Personal Lines of Credit vs Credit Cards

Can I Get an Auto Loan with a 677 Credit Score?

Yes, a 677 credit score is generally sufficient to qualify for a car loan. While there’s no set minimum credit score required to get a car loan, your score can have a significant impact on the rate you get. This is generally true for all loans but particularly so with auto loans.

With a 677 score, you’ll probably won’t qualify for the best-available rates. According to a four-quarter 2024 report from Experian®, borrowers with high credit scores (over 780) paid, on average, 4.77% for new cars and 7.67% for used cars. Car buyers with scores between 661 to 780, on the other hand, paid (on average) 6.40% for new car loans and 9.95% for used car loans.

To get the best deal possible on a car loan with a 677 score, it’s a good idea to shop rates with multiple lenders, even before you shop for the vehicle, and compare. Many lenders offer prequalification with a soft credit check, which can give you an idea of the rate you might qualify for without impacting your credit score.

If the rates you’re seeing are higher than you’d like, consider putting down a larger down payment or adding a cosigner. Alternatively, you might wait to purchase a car and take time to build your credit profile before applying for a loan. Steps like paying down existing debt, making timely payments on credit cards, and not submitting any other credit applications, may help you qualify for better rates and terms in the future.

Can I Get a Mortgage with a 677 Credit Score?

A credit score of 677 should be more than enough to qualify for a mortgage loan. A score in this range gives you numerous borrowing options, including:

•   Conventional mortgages

•   USDA loans (insured by the U.S. Department of Agriculture)

•   FHA loans (insured by the Federal Housing Administration)

•   VA loans (offered by the U.S. Department of Veterans Affairs to eligible veterans, service members, and surviving spouses)

For a conventional loan, which is the most popular type of mortgage, lenders typically require a minimum credit score of 620, though some may require a score of at least 660 or higher. These loans aren’t directly insured by a government program and may conform to certain standards set by the government-sponsored entities Fannie Mae and Freddie Mac. Conventional mortgages are available with several different term options, the most popular being 15 or 30 years.

Your 677 score probably isn’t high enough to get a jumbo home loan, however. This is a type of conventional loan that doesn’t meet the requirements to be a conforming loan due to a higher loan amount. Lenders typically require a credit score of 700 or higher for jumbo mortgages.

To get the best deal on a mortgage with a 677 score, it’s a good idea to shop around to compare mortgage rates from different lenders. Even a small difference in rates, say half a percentage point, could make a big impact on what you pay for a home loan in the long run. Consider getting preapproved with a few lenders to see what you might qualify for. This typically involves a soft credit check, which won’t impact your scores.

Can I Get a Personal Loan with a 677 Credit Score?

Yes, you can likely get a personal loan with a 677 credit score, but the terms might not be the most favorable. Many personal loan lenders require a minimum credit score of 580, but save their better rates and terms for borrowers with scores in the mid 700s or higher. To snag a lender’s lowest interest rate, you typically need a score of at least 800, along with a high income.

If you’re considering a personal loan to consolidate credit card debt (and potentially save money on interest), you’ll want to make sure you can qualify for a rate that is lower than what you’re currently paying on your credit card balances. An online personal loan calculator can help you figure this out.

Also keep in mind that you can use a personal loan for virtually any purpose, including:

•   Medical bills

•   Emergency expenses

•   Home repairs or improvements

•   Large expenses, like new furniture or a vacation

•   Wedding costs

Personal loans and credit card consolidation loans are available through traditional and online banks and credit unions, as well as nonbank lenders. Similar to shopping for other types of loans, it can be a good idea to prequalify with a few lenders. This can give you an idea of rates and terms you may be able to get and compare offers without impacting your credit.

The Takeaway

A 677 credit score is not bad, but it’s not great either. You can qualify for various credit products, including credit cards, auto loans, mortgages, and personal loans, but your interest rates and terms may not be the most desirable. To improve your financial opportunities, consider taking steps to strengthen your credit profile, such as making on-time payments, reducing debt, and maintaining a healthy credit mix. This can help you gain access to a wider range of lending products and lower interest rates in the future.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

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