Is 685 a Good Credit Score?

By Laurel Tincher

(Last Updated – 05/2024)

A 685 credit score falls into the “good” range, albeit toward the low end. With this score, you can likely qualify for credit card and loan offers, but perhaps not at the most favorable rates or with the best perks.

Your credit score is a reflection of your creditworthiness and impacts how comfortable lenders are giving you access to additional credit. Your score expresses such variables as whether you pay what you owe on time, how long a borrowing history you have, and whether you are currently trying to access a considerable amount of credit.

Here, learn more about a 685 credit score and what you can typically qualify for with that number.

What Does a 685 Credit Score Mean?

Situated in the middle of the credit scoring range, a score of 685 represents a creditworthiness level that might impact several areas of an individual’s financial circumstances. A score of 685 usually falls into the acceptable to good range, which is not excellent. It implies that the person has a track record of responsible credit management; however, there may have been some difficulties or inconsistencies along the road.

There are a few different ways to gauge creditworthiness, including various credit scores vs. FICO scores, but FICO^® is the most popular system. Here’s how credit scores rank on that gradient:

•   300-579: Poor

•   580-669: Fair

•   670-739: Good

•   740-799: Very good

•   800-850: Excellent (or Exceptional)

As you see, a credit score of 685 puts you in the “good” range, but toward the lower end. It can also be worth noting that the average credit score in America last year was 715.

A 685 credit score could be interpreted by lenders as a sign of moderate risk, which may have an impact on the terms and conditions that are offered for credit cards, mortgages, and loans. While a 685 credit score might not be high enough to qualify for the best interest rates or loan conditions, it still offers chances to get credit.

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What Can You Get with a 685 Credit Score?

People who have a credit score of 685 can qualify for a number of financial opportunities, but they will likely have some restrictions. Even with less favorable interest rates, a 685 credit score can still be used to qualify for a variety of credit products. These could include credit cards, personal loans, and auto loans.

In addition, a good credit score might help when applying for a rental property or utilities. Your application may be given preference over those who have a bad credit score.

Can I Get a Credit Card with a 685 Credit Score?

A credit score of 685 is generally high enough to get a credit card application approved, but the available choices may be more limited than for individuals with higher scores. For example, those with credit scores over 700 may be offered a lower annual percentage rate (APR) and receive richer rewards.

That said, numerous lenders cater especially to those with fair to good credit. Even though these cards may have slightly higher interest rates and smaller credit limits, they nonetheless offer the chance to establish credit and gain access to useful financial resources.

In addition, for people with poorer credit scores who want to build their credit, secured credit cards, which require a security deposit, are a good option. Finding the right credit card option for your needs in terms of fees, interest rates, and rewards is crucial, so it’s important to research and compare the possibilities.

With any kind of credit card, it’s important to use credit responsibly since, with high interest rates, debt can snowball.

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Can I Get an Auto Loan with a 685 Credit Score?

While the terms offered to borrowers with higher credit scores may be more attractive, a credit score of 685 is sufficient to get a car loan. Many lenders accept applications from people with fair to good credit. One might be able to get an auto loan with fair terms and interest rates even with a 685 credit score, particularly if their debt-to-income ratio is under control and income is steady.

However, in comparison to customers with excellent credit, a person with a 685 credit score can face somewhat higher interest rates or shorter loan durations with higher monthly payments. Consider these current numbers from MyFICO:

•   The average APR on a 60-month new auto loan for $50,000 for someone with a FICO Score of 720 or higher is 7.5%.

•   With a credit score between 690 and 719, it’s 8.64%.

•   For those with a score between 660 to 689, the average APR is 10.5%.

In other words, yes, you can secure a loan, but you will likely pay more for the privilege. To get the best terms possible, compare offers from several lenders. A bigger down payment or bringing in a cosigner can also help increase the chances of getting a favorable auto loan with a credit score of 685.

Can I Get a Mortgage with a 685 Credit Score?

Getting a mortgage with a credit score of 685 is definitely possible, but there are some things to take into account. Even though some lenders might require a higher credit score in order to give the best loan terms, many provide mortgage options for borrowers with fair to good credit.

Borrowers with credit scores in the mid-600s may have easier access to government-backed loan programs. FHA loans, for instance, typically grant loans to those with scores of 580 or higher (if your score is between 500 and 579, you may still qualify with a larger down payment). USDA loans usually require a 620 credit score or higher.

Lenders will also take other factors into account when assessing a mortgage application, like debt-to-income ratio and work history. Finding the best mortgage program for one’s financial circumstances might be made easier if they work with an experienced mortgage broker or lender.

Can I Get a Personal Loan with a 685 Credit Score?

People with a credit score of 685 can usually qualify for personal loans from a variety of lenders. This can be a good source of funding for a variety of needs, such as paying for unexpected (and expensive) dental work, hosting a family reunion at the beach, or finally updating your kitchen.

As with other loans, it’s likely that the best terms and interest rates will go to those with excellent credit scores. Depending on the lender and one’s full financial profile, you may be faced with slightly longer loan terms or higher interest rates if your credit score is 685.

Individuals can locate the most affordable rates and terms by shopping around and comparing offers from several lenders. Proving that one has a steady income and a low debt-to-income ratio will help with getting a personal loan with better terms.

Recommended: Average Personal Loan Interest Rates and What Affects Them

Takeaway

A 685 credit score qualifies as “good.” While it may not grant access to the best terms on financial products, it is usually high enough to qualify for credit cards, mortgages, auto loans, and other forms of credit. Those with a 685 credit score might have to deal with slightly higher loan rates and more stringent criteria than those with higher numbers. However, after shopping around, they will probably find an offer that suits their needs.

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