Is 681 a Good Credit Score?

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    By Ashley Kilroy

    A 681 credit score falls into the good range, which runs from 670 to 739.

    Think of a good credit score as your ticket to better financial opportunities. It can help you get approved for things like a car loan, a mortgage, or even a personal loan to renovate your dream kitchen. However, while a 681 credit score is considered good, it’s not in the “very good” or “exceptional” range, which may limit your access to the most competitive rates and financing terms.

    Read on to dive into what a 681 credit score means when applying for a credit card, mortgage, auto loan, or personal loan.

    Key Points

    •   A 681 credit score is classified as good, falling within the range that extends from 670 to 739.

    •   Individuals with a 681 score can qualify for various financial products, including credit cards, loans, and mortgages.

    •   Despite being a good score, a 681 score may not secure the best interest rates or rewards, which are reserved for those with very good and excellent numbers.

    •   To achieve better financial offers, such as lower interest rates and terms, a credit score above 700 or 740 is generally required.

    •   Paying bills on time and lowering credit card balances are among the steps that can help build a 681 credit score.

    What Does a 681 Credit Score Mean?

    The higher your credit score, the more likely banks, lenders, and credit unions are to trust you. A good score reflects that you’ve managed credit responsibly in the past and are likely to do so again in the future. This, in turn, can make it easier to get loans or credit cards.

    Your credit score is a three-digit number that comes from the information in your credit reports. You may actually have more than one score because there are different systems, such as FICO® vs. VantageScore, or a custom system from a lender. That’s why what one lender calls a “good” score might be different from another.

    FICO Scores tend to be used by most lenders. Here’s how they break down:

    •   Poor credit: 300-579

    •   Fair credit: 580-669

    •   Good credit: 670-739

    •   Very good credit: 740-799

    •   Exceptional credit: 800-850

    A score of 681 probably means you have used credit responsibly but you may have had some glitches. For example, according to Experian®, 36% of people with a 681 score have a late payment (over 30 days past due) on their credit report. (As a point of reference, the average credit score in the U.S. is currently 717.)

    A good credit score is enough for most lenders to approve you for an installment loan or line of credit. But keep in mind, you might not get the best rates or credit card perks that come with a higher score.

    Recommended: Do You Need to Pay Taxes on Personal Loans?

    What Else Can You Get with a 681 Credit Score?

    Having a good credit score means there’s a strong chance you’ll qualify for a wide range of financial products like mortgages, auto loans, personal loans, and credit cards. Although a 681 credit score is above average, it’s not in the highest two credit score ranges (very good and excellent). This means some lenders might not offer you the best deals, such as the lowest interest rates or top rewards for a credit card.

    That said, here’s what you might expect with a credit score of 681.

    Can I Get a Credit Card with a 681 Credit Score?

    You don’t need a specific credit score to get a credit card. Even with poor or fair credit, you can still qualify for certain cards. However, these often come with lower credit limits and higher interest rates. If your score is above 700, you’ll usually have access to an array of credit card options.

    With a 681 credit score, you’ll likely have a number of credit cards to choose from, since you’ve shown you can handle credit responsibly. This could mean better interest rates, introductory offers, and rewards like airline miles you can put toward your next trip. You may also avoid paying an annual fee.

    For the very best rates and rewards, though, a credit score above 740 is usually needed.

    Can I Get an Auto Loan with a 681 Credit Score?

    A 681 credit score will usually qualify you to get an auto loan. According to Experian, 67% of auto loans go to borrowers with credit scores of 661 or higher, so your score is in that range. At the end of 2024, the average credit score for a car loan for a new car was 755, and for a used car 694.

    Auto lenders often work with a wide range of credit profiles, giving borrowers more options. You can explore offers from dealerships, banks, and local credit unions.

    At the end of 2024, many car manufacturers were offering 0% financing deals for “well-qualified buyers.” Typically, “well-qualified” means having a very good credit score, usually between 740 and 799. With a 681 credit score, you might not qualify for these top deals, but you’ll still have other options.

    Remember, if you want to find the best interest rate available to you, it’s a good idea to compare offers from multiple auto lenders. Building your credit score can also make a big difference, helping you qualify for lower rates and reducing your overall borrowing costs.

    Can I Get a Mortgage with a 681 Credit Score?

    The credit score you need for a mortgage typically depends on the type of loan you’re applying for.

    •   For a conventional loan, you usually need a credit score of at least 620, though some lenders may prefer a score of 660 or higher.

    •   For a jumbo loan, lenders typically require a score of 720 or higher.

    •   FHA loans require a score of at least 500 if you can make a 10% down payment. If you want to avoid a large down payment, you’ll need a minimum score of 580.

    •   For USDA loans, most lenders look for a credit score of 620 or higher.

    •   Among other qualifications, VA loan lenders may accept credit scores as low as 500, but others may require a score of 600 or 620.

    With a 681 credit score, you meet the requirements for most mortgage programs.

    However, just qualifying doesn’t mean you’ll get the best rates or terms. Lenders typically reserve their lowest interest rates and best offers for people with very good or exceptional credit scores.

    Also, remember that your credit score is just one piece of the mortgage approval equation for a home loan. Lenders also consider your debt-to-income (DTI) ratio, income, employment history, and the size of your down payment when making their decision.

    Can I Get a Personal Loan with a 691 Credit Score?

    Personal loans can be a good way to obtain a lump sum of cash with interest rates that are typically significantly less than what you’d pay if you used a credit card. The funds can be used to finance a wedding or pay a major dental bill.

    Another popular use for personal loans is consolidating credit card debt, which can turn debt that’s a line of credit into an installment loan. As you think about whether a personal loan is right for you, it’s wise to remember that most loans are unsecured, meaning you don’t need collateral to borrow against. The repayment terms are usually between one and seven years, and the amounts can range up to $50,000 or even $100,000.

    Typically, you’ll need a certain credit score for a personal loan: Most lenders usually want to see 610 or higher. A score of 700 or higher, though, can unlock more favorable rates and terms. It’s worth noting, however, that each lender has its own rules, so approval isn’t guaranteed everywhere. Income, job history, current debt, and other factors may play a role. If you want to build your credit score with the goal of qualifying for better offers, practicing habits like paying your bills on time and reducing credit card balances can have a positive impact.

    Recommended: How Does Debt Consolidation Work?

    The Takeaway

    A 681 credit score is considered a good score. It puts you in position to qualify for a variety of credit options with favorable rates and terms (though those with a very good or excellent score usually get the best offers). A 681 score should unlock such financial products as credit cards, mortgage and auto loans as well as personal loans.

    Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

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

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