By Jacqueline DeMarco

A 717 FICO® score is considered good and is currently the average credit score in the U.S. That means you should be able to access a variety of credit products, though not necessarily at the lowest-available interest rates.

A 717 score falls in FICO’s “good” range (670 to 739), which is smack dab in the middle of their five credit tiers — above Fair and Very Poor credit but below the Very Good and Exceptional categories. Here’s a look at what types of credit cards and loans you can get with a 717 score and how to make the most of your good credit.

What Does a 717 Credit Score Mean?

Your credit score is a number (typically between 300 and 850) designed to represent how likely you are to pay your bills on time. It’s based on information in your credit reports, including your payment history, how much of your available credit you’re using, types of credit accounts you have, and the length of your credit history.

A 717 credit score falls in the Good range of the FICO scoring model, the one most commonly used in the U.S. Here’s how FICO ranks credit scores:

•   300 to 579: Poor

•   580 to 669: Fair

•   670 to 739: Good

•   740 to 799: Very Good

•   800 to 850: Exceptional

While 717 is not in the Very Good or Exceptional range, it’s still a respectable score. It shows lenders that you’re a relatively low-risk borrower, which can make it easier to secure credit cards and loans, along with favorable interest rates. However, improving your credit profile can help you unlock more options, at more affordable lending terms.

A credit score of 717 can signify a relatively short credit history marked by good credit management. Or, it might indicate a longer credit history marred by a few missteps, such as a late payment here and there, or a tendency toward high credit usage.

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What Else Can You Get With a 717 Credit Score?

A 717 credit score opens up a variety of financial opportunities. Here’s a guide to what you can expect in different lending categories.

Can I Get a Credit Card With a 717 Credit Score?

A 717 credit score puts you in the path of a variety of credit card options. This includes credit cards that let you earn points, miles, or cash back on purchases. You might even be able to score a card with an introductory 0% annual percentage rate (APR) offer that can help you save on interest for a certain period of time.

However, premium credit cards with exclusive perks like travel benefits or concierge services will likely be out of reach if you have good, rather than very good or exceptional, credit. Plus, issuers may not offer you the very best rates.

Keep in mind, though, that your credit score is only one part of the picture. Lenders will generally consider other factors, such as your income and job status, when deciding whether or not to approve you for a credit card and at what rate. This means that two people with a 717 credit score applying for the same card might not both get approved, and if they do, their terms could be different.

Recommended: Using a Personal Loan to Pay Off Credit Card Debt

Can I Get an Auto Loan With a 717 Credit Score?

You can generally get a car loan with nearly any credit score, but with a 717 score, you have a good chance of getting approved by many auto lenders. A report by credit bureau Experian® found that roughly 71% of cars financed in the third quarter of 2024 were for borrowers with credit scores of 661 or higher.

Borrowers with good credit scores tend to qualify for interest rates that are significantly lower than those offered to borrowers with fair or poor credit. This can save you thousands of dollars over the life of the loan. With merely good credit, however, a lender probably won’t offer you their top rates and terms.

To reduce the interest you pay on an auto loan, consider making a larger down payment. Borrowing less means you’ll pay less in interest over time. Plus, many lenders offer lower interest rates for larger down payments because it reduces their financial risk.

It’s also a good idea to shop around and compare offers from different lenders before finalizing a car financing deal. The rate offered by the dealer might be higher than what you could get at a bank, credit union, or online lender.

Can I Get a Mortgage With a 717 Credit Score?

A 717 credit score should give you relatively easy access to a mortgage. This score meets the minimum requirements for most conventional home loans. Conventional mortgages aren’t insured or guaranteed by a government agency but are backed by private lenders and are the most commonly used type of mortgage loan.

If you’re a first-time homebuyer or have a lower down payment, an FHA loan (a mortgage insured by the Federal Housing Administration) could be an option. These loans often have more lenient credit requirements, so your 717 score is well above the minimum.

While you won’t necessarily be a candidate for the lowest available rates, a 717 credit score mortgage rate can be competitive. As of October 2024, the average interest rate for a 30-year fixed-rate mortgage of $300,000 for buyers with a FICO between 660 and 670 was 6.563%.

Keep in mind that your credit score is one of many factors that can impact your eligibility for a home loan. Mortgage lenders will typically also consider your income, employment history, debt-to-income ratio, and down payment amount when evaluating your application.

💡 Quick Tip: In a climate where interest rates are rising, you’re likely better off with a fixed interest rate than a variable rate, even though the variable rate is initially lower. On the flip side, if rates are falling, you may be better off with a variable interest rate.

Can I Get a Personal Loan With a 717 Credit Score?

Personal loans are a versatile lending product, since you can use the funds for various purposes, such as consolidating high-interest debt, funding a major purchase, or covering unexpected expenses. Here’s what you can expect when applying for a personal loan with a 717 credit score:

•   Approval: Many lenders will approve personal loans for borrowers with a score in the good range.

•   Interest rates: Your interest rate may not be as low as rates available to those with very good or exceptional credit. However, you have a strong chance of securing a personal loan around the average rate of 12.29% (as of December 18, 2024), which is significantly lower than the average 20.35% rate for credit cards (as of the same date).

•   Loan amounts: Personal loans amounts generally range from $500 to $100,000. A 717 score gives you access to a wider range of loan amounts. However, your income and debt-to-income ratio will also play a significant role in determining the maximum loan amount.

To secure the best terms, it’s a good idea to shop around and compare offers from multiple lenders, including banks, credit unions, and online lenders.

Recommended: Personal Loan Calculator

The Takeaway

A 717 credit score is a solid foundation for accessing various financial products and services. It indicates that you’re a responsible borrower and opens the door to many opportunities, including credit cards, auto loans, mortgages, and personal loans. While it may not guarantee the very best terms, it’s still a strong score that lenders view favorably.

To make the most of your 717 credit score, consider the following tips:

•   Monitor your credit: It’s a good idea to regularly check your credit reports to ensure accuracy and identify areas for improvement.

•   Pay bills on time: Your payment history is a major factor in your credit score, so you’ll want to be sure that you always pay your bills by their due dates.

•   Keep credit utilization low: Aim to use less than 30% of your available credit to maintain or build your credit.

•   Limit hard inquiries: Applying for multiple credit products within a short period of time can temporarily lower your score.

By maintaining good credit habits, you can continue to build your good credit and unlock even more financial opportunities 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.

By Dan Miller

According to the FICO credit scoring model, a 614 credit score is considered “fair.” If you have this score, lenders may see you as a subprime borrower, though you should still be able to get approved for certain types of loans and credit cards.

Find out what a 614 credit score means for borrowers and the types of lending products they can access.

What Does a 614 Credit Score Mean?

A credit score is a three-digit number that’s calculated using information in your credit reports, such as your history of on-time payments, length of credit history, and how much available credit you’re using. Lenders use this number to determine how likely a borrower is to default on a loan. The higher your score, the more likely a lender is to approve you for personal loans or lines of credit.

There are several types of credit scores, but the one most widely used is the FICO Score. FICO scores range from 300 to 850 and are organized into the following tiers:

•   Poor: 300-579

•   Fair: 580-669

•   Good: 670-739

•   Very good: 740-799

•   Excellent: 800-850

As you can see, 614 falls within the “fair” category, which is one notch below “good.” It’s also well below the average American’s credit score of 717.

What Else Can You Get with a 614 Credit Score?

Here’s a look at how a 614 FICO score can affect your chances of getting different types of credit:

Can I Get a Credit Card with a 614 Credit Score?

While you probably won’t qualify for the best credit card offers with a 614 credit score, you may be approved for a traditional credit card or store credit card.

If you don’t qualify for a card — or can’t get one with the perks you want — then you may want to explore applying for a secured credit card. It works in the same way as an unsecured credit card except you could be required to put down a deposit equal to your credit limit.

Can I Get an Auto Loan with a 614 Credit Score?

Yes, it is possible to get an auto loan with a fair credit score, but you may be charged a higher interest rate or have to put down a higher down payment than prospective borrowers with better credit scores. Note that a 614 credit score car loan may not be offered by all lenders. Also, interest rates can vary by lender, so shop around for the best car loan terms.

Recommended: Smarter Ways to Get a Car Loan

Can I Get a Mortgage With a 614 Credit Score?

While you may not qualify for certain loans or programs, it is possible to get a mortgage with a 614 FICO score. An FHA loan, for example, has a minimum credit score of 500 with a 10% down payment.

If you’re able to build your credit score a bit and strengthen your finances, a conventional mortgage may be within reach. Fannie Mae and Freddie Mac require a minimum credit score of 620 for a fixed-rate mortgage. You’ll also need a down payment of at least 3% and have a low debt-to-income ratio.

Your lender may also have further restrictions or qualifications, possibly including additional fees, a higher down payment requirement, and/or higher interest rates.

Can I Get a Personal Loan with a 614 Credit Score?

It is possible to get a personal loan or credit card consolidation loan with a credit score of 614, but as with other forms of lending, you’re likely to be charged a higher-than-average interest rate. You may also face less-attractive loan terms, including a shorter loan term or additional fees.

Use a personal loan calculator to see how different interest rates, loan amounts, and term lengths affect your possible monthly payment.

The Takeaway

Is 614 a good credit score? According to a widely used credit scoring model, it’s considered “fair,” or one notch below “good.” While the score could unlock certain lending products including credit cards, mortgages, and other types of loans, you may be charged a higher interest rate and have less-desirable terms than borrowers with better credit scores. If you can work on improving your credit score before applying to borrow money, you may find yourself in a better overall financial situation.

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 Bob Haegele

A 712 credit score is considered “good” in the FICO® scoring system, and is close to the average credit score of 717. With this score, lenders and creditors will generally view you as an “acceptable” borrower and may offer you a range of lending products, though not necessarily at their best-available rates and terms. Here’s a closer look at what types of credit cards and loans you can get with a 712 score.

What Does a 712 Credit Score Mean?

Your credit score is a numerical representation of how likely you are to repay a loan or line of credit. It’s calculated using information found in your credit reports, including your history of on-time bill payments, how much of your available credit you’re using, the types of credit accounts you have, and the length of your credit history.

You actually have multiple credit scores, not just one. This is because credit scores can be calculated using different credit reports (we each have three) and different scoring models, such as FICO, VantageScore®, or a lender’s own proprietary algorithm.

According to the FICO scoring model, which is the one most widely used by lenders, a 712 credit score lands in the “good” tier. Here’s a look at exactly where your score falls on the FICO rating system:

•   300 to 579: Poor

•   580 to 669: Fair

•   670 to 739: Good

•   740 to 799: Very Good

•   800 to 850: Exceptional

Lenders consider 712 to be an average credit score that shows you typically pay your bills on time. This score can open doors to a range of credit and loan products, including credit cards, mortgages, and personal loans, often at competitive rates. However, you probably won’t qualify for a lender’s best rates or a bank’s top tier credit cards, which are generally reserved for those with “very good” or “exceptional” credit.

You may have a 712 score due to a limited credit history, the occasional late or missed payment, or a tendency towards high credit usage. Late payments (defined as 30 days past due) appear in the credit reports of 29% of people with 712 FICO scores, according to credit bureau Experian®.

To better understand your credit position, and get an idea of what lenders may see when you apply for credit, it’s a good idea to read through your credit reports. You can get a free copy of your credit report from the three major credit reporting agencies by visiting AnnualCreditReport.com.

What Else Can You Get With a 712 Credit Score?

A 712 credit score qualifies you for a variety of financial products and benefits. While it’s not the highest tier, it’s strong enough to access competitive rates and terms on loans, credit cards, and other financial services.

Can I Get a Credit Card With a 712 Credit Score?

A 712 credit score can give you access to a range of credit cards, including rewards, cash back, and no-annual-fee cards. You might also be able to qualify for a card with a 0% introductory interest rate on purchases or balance transfers. However, with “good” rather than “very good” or “exceptional” credit, card issuers may not offer you their top rewards and loyalty bonuses or their very best annual percentage rates (APRs).

Keep in mind that whether you get approved for a card, and at what rate, will depend on more than your credit score. Card issuers will also look at your income, employment history, and current level of debt. As a result, two people with the same credit score may not get approved for the same card or the same APR.

Recommended: Using a Personal Loan to Pay Off Credit Card Debt

Can I Get an Auto Loan With a 712 Credit Score?

A 712 credit score positions you well for securing an auto loan. Lenders generally categorize borrowers with scores above 700 as low-risk, leading to lower interest rates and more favorable loan terms. Depending on the lender and the amount borrowed, you can expect rates significantly better than those offered to individuals with fair or poor credit.

According to a third-quarter of 2024 report from Experian, the average interest rate for a car loan for borrowers with scores between 661 and 780 was 6.70% for a new car loan and 9.63% for a used card loan. For borrowers with scores between 601 and 660, the average rates were significantly higher — 9.73% for a new car loan and 14.07% for a used car loan.

To get the best possible 712 credit score auto loan interest rate, take some time to shop around for a car loan. The rate offered by a car dealership may be higher than what you could get from a bank, credit union, or online lender.

Can I Get a Mortgage With a 712 Credit Score?

A 712 credit score puts you in the path of most mortgage options. This includes a conventional mortgage, which is the most commonly used type of home mortgage. Available through private lenders, conventional mortgages offer competitive interest rates and flexible terms, making them attractive to buyers who meet the qualification criteria.

If you’re a first-time homebuyer or don’t have much savings for a down payment, an FHA loan (a mortgage insured by the Federal Housing Administration) could be worth exploring. These loans often have more lenient credit requirements, and your 717 score is well above the minimum. However, FHA loans require you to pay mortgage insurance premiums, which add to your borrowing costs.

Keep in mind that your credit score is only one piece of the puzzle when you apply for a mortgage. Lenders will typically also look at your income, employment history, debt-to-income ratio, and down payment amount when evaluating your application.

Can I Get a Personal Loan With a 712 Credit Score?

Personal loans are also within reach with a 712 credit score. Whether you’re consolidating debt, financing a large purchase, or covering emergency expenses, lenders will likely see you as a reliable borrower. You can expect interest rates and loan terms to be better than average, though not necessarily the best available.

For the best results, consider:

•   Shopping around for lenders who cater to good credit borrowers. Prequalification can give you an idea of the rates and terms you will qualify for without negatively impacting your credit.

•   Using a personal loan calculator to see how much you can save by using a personal loan to pay off high-interest debt.

•   Being cautious about borrowing more than you need, as this can impact your chances of approval as well as your interest rate.

The Takeaway

A credit score of 712 is a solid foundation for accessing a variety of financial products and achieving your goals. It places you in the “good” credit category, enabling you to secure favorable terms on credit cards, auto loans, mortgages, and personal loans.

But while a 712 score is good, there is still some room for improvement. Maintaining responsible financial habits — like paying bills on time, staying well below your credit limits, and having a mix of credit types in your file — can help you access more borrowing opportunities, at even more affordable 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.

By Lauren Ward

A credit score of 611 does not qualify as good. That designation usually applies to scores between 670 and 739. A 611 score falls in the next lowest range known as fair, which is a notch above poor.

While you can still qualify for some forms of credit, such as credit cards and installment loans, with a 611 score, you will likely have to pay higher interest rates than people with higher scores. In addition, you may not have as flexible terms nor as rich rewards. Learn the details here.

What Does a 611 Credit Score Mean?

A credit score of 611 puts you in the fair category, which isn’t high enough to be considered good.

Credit scores commonly range from 300 (the lowest score possible) to 850 (the highest score). Here’s how the FICO® Score, a leading credit-scoring model, breaks down its credit categories:

•   Under 580: Poor

•   580-669: Fair

•   670-739: Good

•   740-799: Very good

•   800 or more: Exceptional or excellent

A 611 is on the lower end of the fair category. You would have to build your score to 670 to qualify as having good credit.

It’s also worth noting that the average American’s credit score is a 717 — over 100 points higher. This can be encouraging to know that many people have built their scores this high.

So what does this mean for people wondering if 611 is a bad credit score? The answer is that, while it’s better than a poor score, it’s below average, which means you may have a harder time qualifying for certain types of financing. And if you do qualify, you’ll pay a higher interest rate than if you had a higher score.

What Factors Cause a 611 Credit Score?

Credit scoring models look at five types of information on your credit report:

•   Payment history, meaning paying on-time

•   Amounts owed vs. credit limit

•   Length of credit history (being new to credit can negatively impact your score)

•   New credit requests (making numerous new credit inquiries over the past two years can pull your score down)

•   Credit mix, meaning if you have successfully managed different types of credit, such as both an installment loan and a line of credit, it can help build your score.

You can check your credit score for free on a regular basis. When you check your score with a credit service, you may also get personalized feedback on how to improve your number.

What Else Can You Get With a 611 Credit Score?

Different types of financing come with different types of credit score criteria. In general, you may face some challenges accessing credit with a fair score of 611. Here’s a breakdown of the most common types of loans, as well as credit cards, to give you a sense of how you can qualify with a 611 credit score and what kind of tradeoffs to expect.

Can I Get a Credit Card With a 611 Credit Score?

A 611 credit score could be enough to help you qualify for a credit card. However, a card you are approved for may have some drawbacks like a higher interest rate and a spending cap that’s below the average credit limit. What’s more, you likely won’t gain access to the perks that those with higher scores may enjoy, such as getting cash back and earning points.

When you apply for a credit card, your application is based on your credit score as well as a few other factors, including your income, debt-to-income ratio, and credit utilization. Using a credit card approval odds calculator can help you gauge what cards you might qualify for. That way, you don’t add extra inquiries to your credit report by applying for cards that are out of reach. Every hard inquiry takes about five points off your credit report for a few months or longer, and having too many can raise a red flag to creditors.

Here’s what you may qualify for:

•   An unsecured credit card, but you will likely have a less favorable interest rate and terms than would be offered to those with higher scores.

•   A secured card, which involves making a down payment that serves as the card’s credit limit. This can mean that you won’t be able to spend freely, but by paying your bill on time every month, you can build your credit score. In some cases, after paying bills by the deadline for a period of time, you may move up to an unsecured card.

•   A retail or store card. These only grant you credit at an individual store or chain of stores, but these cards give you the benefits of a card and, with responsible card use, can help you build credit (providing the issuer reports usage to the credit bureaus).

Keep in mind, however, that credit cards typically carry high interest charges, and with a fair credit score, you are probably going to face higher interest rates than those with better scores. Be sure you can repay what you owe: Paying the full balance monthly can allow you to avoid interest charges.

Another note: If you do access credit cards and then find that you are carrying significant credit card debt, you might consider a credit card consolidation loan. These allow you to transfer one or multiple lines of credit into an installment loan, often at a significantly lower interest rate.

Can I Get an Auto Loan With a 611 Credit Score?

Having a 611 credit score for a car loan shouldn’t stop you from financing your vehicle. This type of financing is secured by the vehicle itself, so there’s less risk to the lender. If a borrower defaults on payments, the lender can repossess the vehicle and sell it to cover the outstanding balance.

Even though you could qualify with a 611 credit score, you’ll have to pay a higher interest rate, which means you’ll pay more for the vehicle over time. An example: According to Experian, in a recent study, a person with a 611 credit score who was seeking a loan for a new car could expect to pay 9.83% interest rate, while a person with a 781 score would pay 5.25% interest.

The good news is that financing a car can help you build credit if you regularly make your payments on time. You also don’t have to worry about rate-shopping for an auto loan counting as multiple credit inquiries, which can lower your credit score. Lenders typically lump all auto loan inquiries from a 45-day period as a single item on your credit report. That’s because you’re probably not applying for several car loans at the same time; it’s more likely that you’re checking several options.

Can I Get a Mortgage With a 611 Credit Score?

Every lender has its own credit score criteria for different types of home loans, but typically, for a conventional loan, you need a credit score of 620 or higher.

While a 611 score doesn’t meet this requirement, there are three programs designed for homebuyers with lower scores.

•   FHA loan: To qualify for an FHA home loan with a 3.5% down payment, you’ll need at least a 580 credit score. So you can likely qualify for this with a 611 score. Borrowers with a 500 to 579 score may also still qualify. They’ll need a 10% down payment on the home.

•   USDA loan: Used for homes in designated rural communities, a USDA loan doesn’t have a firm minimum credit score. According to USDA guidelines, a borrower with a 611 credit score may need to provide additional documents, like housing payment history and references, as compared to those with higher scores.

•   VA loans: It can be harder to qualify for a VA loan with a 611 credit score, but it’s not impossible. This program for veterans, active service members, and surviving spouses, usually has a minimum score of 620. But some lenders may still approve a borrower with a lower score if they provide extra documentation.

No matter what kind of home loan you consider, the minimum credit score to buy a house can vary by lender. It can be wise to ask up front about preapproval and prequalification options as you consider the mortgage process.

Can I Get a Personal Loan With a 611 Credit Score?

A personal loan can provide access to a lump sum of cash to be used for almost any purpose, such as funding a vacation or paying off a medical bill. This popular option typically offers a fixed interest rate, which is often significantly lower than what you’d pay if you charged a purchase to your credit card. The term of the loan is usually between two and seven years, and the principal can be flexible, ranging from, say, $1,000 up to $100,000.

You may qualify for a personal loan with a 611 credit score, but you’ll probably pay higher interest rates than someone who has a higher score. On top of that, you may not be eligible for a large loan amount with that score and other factors, such as if you have a high debt-to-income (DTI) ratio. Your DTI represents how your monthly debt payments compare to how much you earn a month. If you already have lots of credit card debt with a high monthly minimum, or other payments like auto loans, student loans, and even your mortgage, you may have a high DTI.

The overall cost of borrowing is key when you’re considering a personal loan. Credit cards are convenient and useful for smaller, everyday amounts or purchases that might earn points. But even unsecured personal loans tend to have lower interest rates than credit cards, which can make them a good choice for larger expenses. And knowing you’ll have a fixed payment to make every month can help you stay disciplined and on track.

A personal loan calculator can help you compare different terms from various lenders, including interest rate, length of repayment term, loan amount, and the total cost of financing. That way you can work to keep your payments and interest as low as possible while also looking for the right loan amount for your financial needs.

The Takeaway

A credit score of 611 isn’t good. Rather, it’s considered fair, which is the category below good. With that score, you may find that access to credit is somewhat limited. The loans and lines of credit that are available likely have higher interest rates and less favorable terms than those offered to people with higher scores. If that doesn’t suit you, an option is to delay accessing credit until you have built your score and only then apply for credit cards, personal loans, and the like.

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 617 credit score isn’t good or bad — it’s considered “fair” in the FICO® scoring system. While you can access a range of credit and loan products with a 617 score, you probably won’t qualify for a lender’s most competitive rates.

Your fair credit may be the result of financial missteps in the past or the fact that you’re just starting out and don’t have much credit history. Either way, building your credit profile can open doors to more lending options, at more affordable rates.

Let’s dive into what a 617 credit score means and explore the possibilities it opens for credit cards, auto loans, mortgages, and personal loans.

What Does a 617 Credit Score Mean?

Credit scores, which generally range between 300 and 850, are designed to represent how likely you are to pay your bills on time. Creditors and lenders consider your scores as one factor when deciding whether to approve you for new credit and also the rate and terms for which you qualify.

There are many different types of credit scores and scoring models but the FICO scoring model is the one most commonly used by lenders. Here’s how it breaks down:

•   300 to 579: Poor

•   580 to 669: Fair

•   670 to 739: Good

•   740 to 799: Very Good

•   800 to 850: Exceptional

A 617 score falls in the “fair” zone and is below the average score of U.S. consumers, which is 717.

Lenders generally consider consumers with fair credit to be higher-risk borrowers. According to consumer credit bureau Experian®, 28% of consumers with credit scores in the fair range are likely to become seriously delinquent in the future. Some lenders aren’t at ease with those odds and will only extend credit to consumers with “good” or better credit. Other lenders will work with fair credit borrowers but charge relatively high rates and fees to manage the risk.

While many people share your credit score, everyone gets there on their own unique path. Some reasons why you may have a 617 credit score include:

•   Missed payments: Lenders want borrowers to pay on time, which is why payment history is the most significant factor in your credit score.

•   High credit utilization: Using a significant percentage of your available credit (aka, maxing out your credit cards) can have a negative impact on your credit score.

•   Short credit history: The average age of all your credit accounts, along with the age of your oldest and newest accounts, is a factor in credit scoring. A shorter credit history often correlates with a lower score.

•   Derogatory marks: Events like charge-offs (when a creditor considers a debt a loss and closes an account) or collections negatively impact your score.

Recommended: 620 Credit Score: Is It Good or Bad?

What Can You Get With a 617 Credit Score?

Your credit score significantly affects your ability to secure financial products. While a 617 score presents some challenges, it doesn’t shut you out of the market. Here’s what you can expect across different credit products, including credit cards, auto loans, mortgages, and personal loans.

Can I Get a Credit Card With a 617 Credit Score?

You can get a credit card with a 617 score, but your options may be limited. Some credit card options for fair credit borrowers include:

•   Secured credit cards: Secured cards can be a good choice for people who are working to establish or rebuild their credit. Unlike a traditional unsecured credit card, this type of card requires an upfront security deposit. The deposit then serves as collateral should you default on your debt. It also typically acts as your credit limit.

•   Unsecured credit cards for fair credit: Some lenders offer unsecured cards for fair credit, though they may include higher annual percentage rates (APRs).

•   Store credit cards: Retail credit cards usually have lower minimum credit scores and less stringent requirements than general credit cards. However, they might have higher interest rates and lower credit limits. And if it’s a closed-loop store card, it can only be used with that retailer and maybe with certain partners.

Can I Get an Auto Loan with a 617 Credit Score?

A 617 credit score can put you in the path of a car loan, but be prepared for higher interest rates. According to a third-quarter 2024 report from Experian, the average interest rate for borrowers in the 601-660 credit range was 9.73% for a new car loan and 14.07% for a used car loan. This was several points higher than rates for borrowers with the best credit scores (781-850), which were 5.08% and 7.41%, respectively.

Lenders may also cap the max loan amount (requiring a larger down payment) or offer shorter loan terms to minimize their risk exposure.

To get the best possible rate with a 617 credit score car loan, it’s a good idea to shop around. Compare offers from a variety of lenders, including banks, credit unions, and online lenders. Also consider adding a cosigner with a higher credit score — this can improve your approval chances and reduce your interest rate.

Can I Get a Mortgage with a 617 Credit Score?

Obtaining a mortgage with a 617 credit score is possible but can be challenging. Many lenders set minimum credit score requirements for specific mortgage products. For a conventional mortgage (which isn’t guaranteed by any government agency), you generally need a minimum credit score of 620.

However, some other mortgage options may be available to you, including:

•   FHA loans: Backed by the Federal Housing Administration (FHA), these loans are designed for borrowers with lower credit scores. With a score of 617, you may qualify with as little as a 3.5% down payment. These loans require mandatory FHA mortgage insurance, but can be a great option for fair-credit borrowers looking to buy a home.

•   VA loans: If you’re a veteran or active-duty service member, you could benefit from a VA loan backed by the U.S. Department of Veterans Affairs (VA). These loans often have no minimum credit score or down payment requirement. However, you’ll need to pay a funding fee ranging from 1.25% to 3.3% at closing.

If you’re working toward buying a house with fair credit, it’s a good idea to pay down any debts you already owe. This can not only benefit your credit but also improve your debt-to-income (DTI) ratio, which could help you qualify for a bigger mortgage.

Recommended: Best Types of Loans for Home Improvement

Can I Get a Personal Loan with a 617 Credit Score?

A personal loan gives you access to a lump sum of cash (anywhere from a few hundred dollars to $100,000) that can be used for virtually any purpose, including debt consolidation, a big-ticket purchase, emergency expenses, home repairs, or a wedding. These loans are typically unsecured (meaning no collateral is required) and have a fixed interest rate.

It’s possible to get approved for a personal loan with a 617 credit score, though you aren’t likely to get a lender’s best rates. Many personal loan lenders use a risk-based approach to pricing: If your credit score is fair, they may charge you a higher interest rate, along with an origination fee, to compensate for the added risk. Borrowers with fair credit may also qualify for smaller loan amounts and shorter loan terms compared to those with good or better credit.

To get the best possible deal on a personal loan for 617 credit, it’s a good idea to shop around. Many lenders allow you to prequalify online, which can give you an idea of what loans you are eligible for without hurting your credit.

Recommended: Personal Loan Calculator

The Takeaway

A 617 credit score is not ideal, but it’s not the end of the road. With this score, you have access to a range of financial products, though often at higher costs. By focusing on improving your credit habits — such as paying bills on time, reducing debt, and avoiding unnecessary hard inquiries — you can build your credit profile and unlock better financial opportunities in the future. Whether you’re looking for a credit card, auto loan, mortgage, or personal loan, careful planning and research can help you find the best options for your situation.

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.