Is 702 a Good Credit Score?

By Jackie Lam

A 702 credit score qualifies as good. According to FICO®, a good credit score starts at 670, so you can give yourself a pat on the back if you have a 702 score or thereabouts. You’ll have an easier time landing that mortgage, car loan, or personal loan than if you had a poor or fair score. However, building your score even higher could help you get lower interest rates and more appealing terms.

Learn more about what a 702 credit score means for your financial situation and what to expect when applying for loans and lines of credit.

What Does a 702 Credit Score Mean?

In the realm of consumer credit scores, the FICO Score system is the most widely used. Credit scores range from 300 to 850, with 300 being the lowest and 850 being the highest.

Here are the FICO credit score ranges:

•   Poor: <580

•   Fair: 580 to 669

•   Good: 670 to 739

•   Very Good: 740 to 799

•   Excellent (or exceptional: 800+

As mentioned, a 702 credit score sits in the middle of the “good” range. It’s not as low as a “fair” score, which starts at 669, nor a “poor” score, which ends at 580. However, it is 38 points lower than “very good,” which starts at 740.

Recommended: A Guide to Unsecured Personal Loans

What Else Can You Get With a 702 Credit Score?

A good credit score can help you get approved for financing, as it shows you’ve managed credit responsibly in the past. You’ll usually get approved for a car loan, personal loan, home loan, or credit card.

That said, what qualifies as creditworthiness, or the ability to repay a loan, can depend on the lender. Lenders may qualify you for a home loan with a figure much lower than a 702 credit score, while some credit cards with travel rewards may want to see a higher score. To look at it through another lens, while you might be able to snag lower interest rates and better terms with an excellent score vs. a good score, you won’t pay as high an interest rate as someone with a “fair” score.

A credit score plays a major role in determining whether you’re offered financing, but it’s not the only factor. Lenders and creditors will also review and consider your income, collateral, and debt-to-income ratio.

Can I Get a Credit Card With a 702 Credit Score?

Because a 702 credit score is considered “good,” you’ll likely have an easier time getting approved for many travel or cash-back cards with lower interest rates and better perks. Most credit cards are geared toward borrowers with a FICO score of around 670 or higher, though options are available for those with lower scores.

With a good credit score, you might get preapproved offers in the mail. It’s advisable to shop around, be proactive, and research to see which card is the best fit for you. Consider criteria such as card perks and interest rate ranges to find the right fit.

Can I Get an Auto Loan With a 702 Credit Score?

You have a decent chance of landing an auto loan with a 702 credit score. According to data from Experian®, in Q3 of 2025, the average credit score for new car loans was 754, and the average for used cars was 691. If you get a used car, you might be able to find lower interest rates and more flexible terms with your 702 score. Doing so could save on the total cost of the car, as insurance and other costs can be cheaper.

While you’ll have an easier time securing a car loan with a “good” score than a “fair” one, expect lower interest rates if you score “very good” or “exceptional.” If you’re not in a rush to get a car, you might invest some time and energy in building your credit. You can do this by always making on-time payments, avoiding too many hard credit inquiries, and keeping your credit utilization low.

Can I Get a Mortgage With a 702 Credit Score?

A 702 credit score means you’ll probably meet the minimum credit requirement for different types of home loans. Consider these numbers:

•   Minimum credit scores for a conventional home loan tend to be in the range of 620.

•   Jumbo loans, which are mortgages that are larger than the loan-servicing limits set by the Federal Housing Finance Agency, typically require credit scores of around 700 or higher, though requirements can vary by lender.

•   When it comes to VA loans, the minimum credit score depends on the lender, but you can expect it to be between 620 and 670. You might be able to get approved with a lower credit score if you provide a larger down payment.

•   USDA loans may require at least a 640 credit score to qualify. If you have a score that falls below 640, expect there to be a full credit review before getting the green light.

Worth noting: Besides a “good” credit score, home loan lenders will also look at your payment history, credit utilization, and new credit inquiries. Lenders will also consider your income, assets, down payment, and DTI ratio.

Can I Get a Personal Loan With a 702 Credit Score?

A 702 credit score means you’ll have a strong chance of getting a personal loan. A minimum credit score of 580 is usually required for a personal loan.

Personal loans are typically unsecured loans that can be used for almost any (legal) purpose. For instance, you might spend the funds on the following:

•   Medical, dental, or car repair bills

•   Home repairs or renovations

•   Major home appliance or electronics purchase

•   Weddings or other big celebrations

•   Vacation costs

•   Kids’ summer camp

•   Credit card debt repayment

In terms of that last example on the list, if you’re in the market for a credit card debt consolidation loan, a “good” credit score will boost your odds and help you secure a better interest rate. These loans can offer interest rates significantly lower than what credit cards charge. Just know that, as an unsecured loan, a credit card consolidation loan will likely have a higher rate than secured loans, such as a home equity loan.

Be proactive by looking around to see what loan amounts, rates, and terms you’ll qualify for. Lenders will consider various credit and financial criteria when reviewing your application.

Recommended: Personal Loan Calculator

The Takeaway

A 702 credit score qualifies as a “good” credit score. With a score of 702, you’ll likely stand a strong chance of getting a loan, line of credit, or other form of financing. Options can include credit cards, mortgages, car loans, and personal loans. While you may not get as favorable terms and interest rates as those with “very good” or “excellent” scores, you will probably enjoy better offers than those with “fair” or “poor” credit.

Are you comparing options for a personal loan? Check out what SoFi offers.

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.

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FAQ

What does a 702 credit score mean?

A 702 credit score is considered “good” and shows that you’ve managed credit responsibly. It sits above “fair” credit but below “very good,” giving you access to a wide range of loans and credit cards with favorable terms.

Can I get approved for a credit card with a 702 score?

Yes, a 702 score makes it easier to qualify for travel or cash-back cards with lower interest rates and better perks. While some cards may require higher scores, you’ll have more options than someone with “fair” or “poor” credit.

Can I get a loan with a 702 credit score?

A 702 score improves your chances of getting an auto, a personal, or a home loan at competitive rates. Lenders will also review your income, assets, and DTI ratio when making their decision.