By Lauren Ward

A 716 credit score is generally considered good and may help you qualify for a wide variety of financing opportunities more easily. It’s also right on par with the average American’s score of 717. That said, there’s still some room for improvement, especially if you want to access the lowest interest rates possible.

Learn what to expect with different types of credit products when you have this credit score.

What Does a 716 Credit Score Mean?

Your credit score is a three-digit number from 300 to 850 that rates your creditworthiness and indicates to lenders how likely you are to pay back the funds you borrow. Two widely used credit scoring models, FICO® and VantageScore, use information from your credit report to calculate your credit score. Generally speaking, the higher your score, the better you look to potential lenders.

Let’s see how FICO Scores — which are used in 90% of lending decisions — are categorized and how a 716 credit score stacks up.

•   Poor: Less than 580

•   Fair: 580-669

•   Good: 670-739

•   Very good: 740-799

•   Exceptional: 800+

As you can see, a credit score of 716 falls within the “good” range. With that score, you can likely qualify for many loans and credit cards and potentially get better terms, including lower fees and interest rates.

How to Build Your Credit Score

A 716 FICO credit score is solid, but if you can raise your score into the “very good” range, you may be able to qualify for even better rates and terms.

One smart habit to adopt: Pay your bills on time, every time. Payment history makes a bigger impact on your credit score than anything else — a whopping 35% on FICO’s credit rating scale. If you need help managing your bills, consider setting up autopay or using a budget app to keep payments on track.

It’s also a good idea to pay down any revolving debt you have. That’s because using a lot of your available credit can be a sign to lenders that you’re overextended, and could negatively impact your credit score. (Amounts owed make up 30% of your FICO Score.)

What Else Can You Get With a 716 Credit Score?

A credit score of 716 can help you qualify for most types of financing, including credit cards, auto loans, mortgages, and personal loans. But there are other financial factors that can impact your eligibility as well. Here’s how to navigate each type of credit when you have a 716 credit score, plus what other kinds of requirements may be in place.

Can I Get a Credit Card With a 716 Credit Score?

There are credit card options for users with nearly any credit score available. With a credit score of 716, you could qualify for just about any card out there and take advantage of several credit card perks.

Common credit card benefits to look for when you have a good credit score include:

•   Cash back or rewards points: Credit card reward programs let you earn cash back or points as you make purchases with your card. Cash back is usually calculated as a percentage of your spending, while rewards programs accrue points per dollar spent.

•   One-time sign-up bonus: With a strong credit profile, you may qualify for a card that offers a monetary reward when you sign up. Usually you need to meet a minimum level of spending within a certain time frame in order to receive it.

•   Higher credit limits: A higher credit score, along with a low debt-to-income ratio (DTI), could help you qualify for a higher credit limit on your card.

•   Travel insurance: Some credit cards provide travel insurance, such as rental car collision insurance, trip delay insurance, and trip cancellation insurance.

As you search for a credit card, consider these benefits as well as the starting APR before you apply.

Can I Get an Auto Loan With a 716 Credit Score?

Is a 716 credit score good for getting an auto loan? Short answer: Yes. Not only are you likely to meet a lender’s credit requirements, but you may even qualify for a lower APR. When you look at the average car loan interest rate, borrowers with a 716 credit score average a 6.87% APR for a new car purchase and 9.36% for a used car.

Just remember that credit score isn’t the only factor lenders look at when evaluating an auto loan application. They also look at your income and DTI to determine how large of a monthly payment you can likely handle.

Your loan term also impacts your interest rate regardless of credit score. Shorter terms (up to 48 months) tend to have the lowest rates, while longer terms typically come with higher rates. Finally, the size of your down payment also impacts your rate.

If you want to qualify for the lowest auto loan rate possible with a 716 credit score, try to keep your outstanding debt low, maximize the amount of money you put down, and opt for a shorter loan term.

Can I Get a Mortgage With a 716 Credit Score?

With a 716 credit score, you can likely qualify for a variety of home loan programs and get a lower interest rate. You’ll still need to meet other lender requirements, including income and DTI limits. But your credit score shouldn’t hold you back when you’re ready to buy a home.

Check out the most common types of mortgages and their typical credit score requirements:

•   Conventional loans: Most lenders require at least a 620 credit score for a conventional loan. So with a 716, you’ll be nearly 100 over the minimum requirement. The minimum down payment is usually 3% or more.

•   FHA loans: There are two different credit score requirements for an FHA loan, and a 716 meets both of them. To qualify for a 3.5% down payment, you must have a 580 or higher, and for a 10% down payment, you need at least a 500.

•   VA loans: The government doesn’t set a minimum credit score requirement for VA loans. That’s left up to the lender. While many lenders like to see at least a 620, some may specialize in lower credit scores. Either way, veterans and military members with a 716 should qualify.

•   USDA loans: Borrowers with scores in the low 600s or less may qualify for a USDA loan; they may just need to provide a letter of explanation with their application. But for 716 borrowers who meet the income and location requirements, this can be a great mortgage option.

Can I Get a Personal Loan With a 716 Credit Score?

Based on credit score alone, you could qualify for a personal loan with a 716. A personal loan calculator can help you gauge what monthly payments look like for different loan amounts and interest rates, whether you’re looking to consolidate credit card debt or use the funds for other purposes.

If you are rejected for a personal loan even with a good credit score, consider these other factors that could impact your eligibility:

•   Low or inconsistent income

•   High debt-to-income ratio

•   Errors or incomplete information on application

Also pay attention to how many loans and credit cards you apply for in a short period of time. Each hard inquiry in a 12-month period can drop your score by as much as five points. Multiple credit applications could cause your 716 score to drop into the 600s, so get quotes with a soft pull before submitting a full application.

The Takeaway

Is a 716 credit score good? By and large, yes, it is. For many people, a 716 FICO Score helps them get approved for most types of financing, including auto loans, mortgages, credit cards and personal loans. However, keep in mind that a credit score is just one piece of information a lender considers. Other financial factors, such as income, debt-to-income ratio, and employment history, may also influence their decision.

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.

By Jackie Lam

A 721 credit score is in the good range, which runs from 670 to 739. You’re 19 points from reaching very good credit terrain, and you’re about 50 points above the threshold for a fair score.

While a good credit score can grant you access to credit cards and loans, you’ll likely qualify for more favorable interest rates and terms with a very good or excellent score. Read on to learn more about your 721 credit score and what doors it will unlock.

What Does a 721 Credit Score Mean?

To offer a bit of context, consumer credit cards fall between 300 to 850. Just as with a grade on an exam or life points in a video game, the higher the number, the better. A higher score reflects that you have handled debt well in the past and therefore may be creditworthy going forward. And for lenders, the lower your score, the more risky you are in their eyes.

Typically, credit score ranges are as follows:

•   Poor: 300 to 579

•   Fair: 580 to 669

•   Good: 670 to 739

•   Very Good: 740 to 799

•   Excellent: 800 to 850

Currently, the average American’s credit score is 717, so you are currently doing a bit better with your three digits than most people.

Your FICO® Score (the most popular system of credit scoring) is made up of five main elements: payment history, credit usage, length of credit history, new credit and credit mix. (Incidentally, there are many credit scoring models, and they can be used for different purposes, such as for purchasing insurance, car loans, and mortgages.)

You can get a credit report from the three major credit bureaus: Experian®, Equifax®, and TransUnion®. A credit report is a compilation of data that includes your account history with your lines of credits and loans. This typically includes collections, personal information, public records and credit inquiries.

What Else Can You Get With a 721 Credit Score?

When you have a 721 FICO score, you can usually secure a mortgage, credit card, car loan, or personal loan. That said, you will likely not be able to access as large loan amounts, favorable interest rates, and other benefits as those who have built their credit scores higher.

While a credit score is one of the primary pieces of information that creditors and lenders pore over when determining whether to offer you financing, it’s not the only criteria. They will also usually look at your debt-to-income (DTI) ratio (meaning how what you owe compares to your earning power), income, and down payment (for car and home loans, that is). If it’s a secured loan, they’ll look at your collateral too.

Recommended: Secured Vs. Unsecured Personal Loans: What’s the Difference?

Can I Get a Credit Card With a 721 Credit Score?

With a 721 credit score under your belt, you’ll likely be able to choose a credit card among a variety of offers. A credit score of 670 or higher is usually needed to qualify for an unsecured credit card. Since your score is higher than that figure, you may find some attractive rewards are available. However, don’t expect to necessarily get approved for top-tier credit cards with robust benefits, like access to elite airport lounges. Premium cards are usually reserved for those with excellent credit, meaning 800 or higher (though some may accept 760 or higher).

Another thing to keep in mind: Having credit that’s in line with the minimum credit score requirements of the card issuer doesn’t necessarily mean you’ll secure that card. If you’ve had multiple credit card applications in the recent past (which can hurt your credit) or have lower income than what’s preferred, you might be denied a card.

See if you can get preapproved for a credit card online. Some card issuers also might clue you in on what interest rates and fees to expect. And if you’d like to reach for a card that requires very good or excellent credit, making on-time payments, keeping a low usage and not applying for loans or lines of credit needlessly can help you build your credit score.

Can I Get an Auto Loan With a 721 Credit Score?

The odds are in your favor of getting an auto loan with a 721 credit score. Per data compiled by Experian, in the second quarter of 2024, the average interest rate for someone with a credit score between 661 and 780 for a new car was 6.87% and, for a used car, 9.36%. For those with a score between 781 and 850, the interest rates fell to 5.25% and 7.13%. Curious about lower credit scores? The numbers shifted to 9.83% and 13.92% for those with scores between 601 and 660. Over the life of a loan, those variations can make a real difference in the total interest you’ll pay.

Your interest rate can also hinge on other factors like the type of car, the size of your down payment, and your DTI ratio and income.

When shopping around for a car, consider the total cost of the car, which includes the interest rate and any fees. When you drive the car off the lot, factor in gas, maintenance and repairs, monthly payments, depreciation, insurance, and title and registration fees. Per data gathered from AAA, in 2024 the average total cost to own and operate a vehicle was $12,297 or $1,024.71 each month.

Can I Get a Mortgage With a 721 Credit Score?

With a good credit score in hand, you likely won’t have a problem securing a mortgage. However, the minimum credit score and financial requirements depends on the type of loan you’re in the market for:

•   Conventional home loans: The most common type of mortgage in the U.S., conventional home loans are a type of mortgage that checks off the boxes of criteria set by Fannie Mae and Freddie Mac. They usually require a minimum credit score of at least 620.

•   Jumbo loans: Jumbo loans, which are mortgages that in 2025 cover home loans that are between $806,500 to $1,209,750, depending on your location, typically require a minimum credit score of at least 700.

•   FHA loans: For an FHA loan (which is insured by the Federal Housing Administration and can therefore offer you a better deal), borrowers can usually qualify with a 580 minimum credit score. You’ll need to have a 3.5% down payment.

•   VA loans: Interestingly, loans offered by the U.S. Department of Veteran Affairs (VA) don’t have credit score requirements. That said, lenders for VA loans usually like to see a credit score of at least 620. However, if you have a credit score that falls below 620, you may still qualify, depending on other factors such as your DTI.

•   USDA loans: To qualify for these loans, which are typically for properties in rural areas bought by low- to moderate-income buyers, you need a credit score that’s at least 640. Should your score dip below that, you’ll have to provide a full credit review.

Can I Get a Personal Loan With a 721 Credit Score?

One key benefit of a personal loan is its flexibility. These unsecured loans, which are usually fixed-rate and with a term from one to seven years, can be used for a variety of purposes, such as:

•   Financing a vacation

•   Funding a wedding

•   Paying for a big-ticket expense, such as a home improvement project or a major dental bill

You usually need a credit score of at least 580 to qualify for a personal loan. With a 721 FICO score, there’s a strong chance you’ll get a loan with higher loan amounts, more favorable interest rates, and more flexible terms than if you have a lower credit score.

If you’re mulling over whether to fund something with a personal loan or to put it on a credit card, personal loans on average have lower interest rates. According to data from the Federal Reserve, the average 24-month interest rate for personal loans was 12.33% in August of 2024, while the average interest rate for a credit card was 21.76%.

Trying to chip away at looming credit card debt? If so, a good credit score will put you in a good place with a credit card consolidation loan. You’ll likely secure a reasonable interest rate and fairly flexible terms. You can convert one or more lines of high-interest credit into a single installment loan, usually at a significantly lower interest rate, as noted above. Personal loans can offer a lump sum of anywhere from $1,000 to $50,000 or $100,000, depending on the lender and your qualifications.

If you aren’t sure what might be right for you, consider using an online personal loan calculator to see how different personal loan options might stack up.

Takeaway

A 721 credit score is considered good, and it’s higher than the current U.S. average credit score of 717. And while you shouldn’t have trouble landing good interest rates and flexible terms on credit cards and loans (such as home or personal loans), you may qualify for even better options if you build your score even higher.

If you need access to funds, think twice before breaking out your plastic.

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.

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.

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. See your rate in minutes.