By Bob Haegele

A 715 credit score qualifies as good. It’s also currently the average credit score in the U.S.

If your credit score is 715, you may have received some attractive offers for credit cards and loans, but perhaps you haven’t qualified for the best products in the industry. Here, learn more about what a 715 credit score means and how it affects each kind of credit.

What Does a 715 Credit Score Mean?

According to FICO®, a 715 credit score qualifies as good. Good credit scores are those in the 670-739 range, and 715 is in the upper half.

While having a good credit score puts you in a comfortable position, it leaves room for improvement. Above the good range is the very good category (740-799) and the exceptional or excellent range (800-850). Here are how FICO Scores stack up:

•   Exceptional (or excellent) credit: 800-850

•   Very good credit: 740-799

•   Good credit: 670-739

•   Fair credit: 580-669

•   Poor credit: 300-579

A good credit score should allow you to qualify for most financial products, including various loans and credit cards. You may not qualify for some products, such as premium credit cards and low-interest personal loans. Still, a 715 credit score will let you qualify for many financial products, and building your score further will open even more options.

What Else Can You Get With a 715 Credit Score?

Reaching a 715 credit score means much more than earning the distinction of a good score. A 715 credit score should allow you to qualify for most financial products, including credit cards, auto loans, mortgages, and personal loans.

As mentioned, you may not qualify for the best offers with the most favorable terms, but you should have options for most types of credit. If you want to qualify for the best rates and terms, build your score closer to the exceptional range. This can lead to big cost savings, especially with products like mortgages. Some ways to build your score include:

•   Always making debt payments on time.

•   Keeping your credit utilization under 30%.

•   Using a mix of credit (say, lines of credit as well as installment loans) responsibly.

•   Not applying for too much credit in a short period of time.

•   Maintaining a long credit history (this can mean keeping open a credit card you only use occasionally).

Can I Get a Credit Card With a 715 Credit Score?

If you are in the market for a new card, you should have little trouble qualifying for all but the most premium credit cards. You should be able to pick from various cash-back, travel, and rewards credit cards. Many cards with no annual fee or a sub-$100 annual fee should be within reach. Depending on your income and other factors, a 715 credit score may be enough to qualify for a significant credit limit.

You may also qualify for a favorable APR (annual percentage rate), though perhaps not as low as cardholders with very good or exceptional credit.

Many credit card issuers let you prequalify online, which can be helpful if you are unsure of your approval odds. This lets you check your approval odds for any card you are considering without hurting your credit score. Prequalification doesn’t guarantee final approval, but in many cases, it indicates good odds.

When you do apply for a credit card, it typically causes a minor and temporary drop in your credit score. It’s best to avoid consecutive credit applications even if the drop isn’t permanent. Work to build your credit score as much as possible before submitting your application for the best approval odds.

Recommended: 11 Types of Personal Loans and Their Differences

Can I Get an Auto Loan With a 715 Credit Score?

Qualifying for an auto loan with a 715 credit score shouldn’t be a problem in most cases. However, you generally want the best credit score possible before applying. All else being equal, a higher credit score usually means your auto loan interest rate will be lower. Since you will make monthly payments, reducing your interest rate even slightly can save you hundreds in the long run.

With a prime credit score, your rate might be close the average: 6.70% for a new car, and 9.63% for a used car, according to Experian in the third quarter of 2024.

With a 715 credit score, you may qualify for longer loan terms of 36 to 72 months. However, longer terms typically mean higher interest rates. When interest rates are high, the effect is even greater, as there can be a big difference in rates for the highest- and lowest-risk borrowers.

Can I Get a Mortgage With a 715 Credit Score?

For conventional home loans, the minimum credit score required is usually 620, so a 715 credit score will likely qualify you for financing your dream home. However, mortgage lenders typically consider factors beyond your credit score, such as your income and debt-to-income (DTI).

In the past, conventional loans required a 20% down payment. The minimum can now be as low as 3%. Generally, a higher credit score can reduce your minimum down payment, meaning you may need to put more than 3% down with a 715 credit score.

Depending on all these factors, a 715 credit score may allow you to qualify for good mortgage rates from various lenders. You may also qualify for a jumbo loan, which offers a principal larger than the limits for conforming loans. However, in all cases, your rates probably won’t be as low as they are for borrowers with very good and exceptional credit scores.

The mortgage type is also significant, as different types have different qualification criteria. For instance, FHA and VA loans may let you qualify with a 580 credit score, compared to 620 for conventional loans. That is a considerable difference, making these government-backed loans much easier to qualify for than conventional mortgages.

Recommended: How to Use a Co-Borrower for a Loan

Can I Get a Personal Loan With a 715 Credit Score?

With a 715 credit score, you may be able to qualify for a personal loan with competitive rates and terms. While every lender has their own minimum credit score requirements, most are willing to work with borrowers who fall in the good credit score range.

A good credit score will give you strong approval odds and lower rates than borrowers with lower-than-average credit scores. If you aren’t satisfied with a lender’s offer, consider shopping around at other banks, credit unions, and online lenders.

Once a personal loan application is approved, the funds can be used for such expenses as:

•   Travel plans

•   A wedding or honeymoon

•   Medical or dental bills

•   A child’s summer camp costs

•   Consolidation of credit card debt

Personal loans typically come in amounts of a few thousand dollars to $50,000 or $100,000. Depending on your income and the lender’s requirements, you may qualify for a personal loan that falls anywhere within that range.

Personal loans usually have repayment terms of 2-7 years. Making consistent, on-time payments on your personal loan can help improve your credit score. Most personal loans have fixed interest rates, meaning the monthly payment won’t change for the entire term. A personal loan calculator can help you estimate the interest rate you can expect on your loan.

The Takeaway

A 715 credit score is generally considered good and also means you are near the national credit score average. With a credit score in this range, you should be able to qualify for various credit products, including credit cards, personal loans, mortgages, and auto loans. However, a 715 credit score is still below the very good and exceptional ranges. If you build your score further, you may qualify for better rates and terms.

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 Rebecca Lake

A credit score of 609 is not considered good. It falls into the fair category, which is below the good tier, but above the poor one, according to the FICO® credit scoring model.

With a 609 credit score, you may be able to access forms of credit, but you will likely pay higher interest rates and enjoy less favorable terms than those with a higher score. Here’s how this score can affect your ability to borrow.

What Does a 609 Credit Score Mean?

FICO credit scores, which are used by 90% of top lenders to qualify borrowers, range from 300 to 850, with 850 being the highest score you can attain.

Here are the ranges:

•   Exceptional (or excellent) credit: 800-850

•   Very good credit: 740-799

•   Good credit: 670-739

•   Fair credit: 580-669

•   Poor credit: 300-579

These scores are composed of five factors:

•   Payment history: 35%

•   Credit utilization: 30%

•   Credit history: 15%

•   Credit inquiries: 10%

•   Credit mix: 10%

According to FICO, a 609 credit score translates to a fair credit rating, as noted above. Fair credit means your score is lower than the average American’s, but some lenders will still extend credit to you. For perspective, the average FICO score was 715 in 2024, according to Experian.

Fair credit won’t make borrowing impossible, but it can make it more expensive. A 609 credit score typically means you won’t qualify for the lowest interest rates. Those are usually reserved for people with very good or exceptional credit, which means a FICO score of 740 or higher.

What Else Can You Get With a 609 Credit Score?

Is 609 a bad credit score? Technically, no; FICO rates a score below 580 as poor credit. With a score in that range, you might find it difficult to get approved for loans or credit cards, and if you do, you may face significantly higher interest rates.

So, what can a 609 credit score get you? You can likely qualify for a credit card, a car loan, and some mortgages and personal loans, though they may be expensive. Here’s a closer look.

Can I Get a Credit Card With a 609 Credit Score?

Credit cards are convenient when you need to pay for things on the go, and it’s possible to get a credit card with a 609 credit score. For an unsecured card, you may be able to obtain a card, but it will likely involve a higher interest rate than those with good or better credit, and it will probably lack any kind of credit card rewards. (You will probably have to pay an annual fee, too.)

Another option: You might apply for a secured credit card, which can help build credit. Here’s the difference:

•   Secured credit cards usually require a cash deposit to open, which doubles as your credit limit.

•   Unsecured credit cards don’t require a deposit.

Either type of card could help you build good credit if you practice good habits. That includes paying your bill on time each month and keeping the balance low relative to your credit limit (this is known as your credit utilization ratio). Payment history and credit utilization carry the most weight in FICO credit scoring.

It can be difficult to know which credit cards you can get with a 609 credit score, since credit card companies usually don’t publish minimum credit score requirements online. They may, however, market certain cards as being designed for people with fair credit, which can help you decide which ones to apply for.

Worth noting: Hard inquiries (meaning applications for new credit) can temporarily lower your credit score by several points, so it’s better to just pick one credit card to apply for at a time.

Can I Get an Auto Loan With a 609 Credit Score?

A 609 credit score car loan approval isn’t unheard of. You’ll need to find a lender willing to offer you financing. Some lenders specifically target borrowers with lower credit who may not be able to get approved for a car loan through a bank or online lender.

The downside of getting a car loan with a 609 credit score is that you’ll most likely pay more interest. Again, that’s because lenders reserve the lowest rates for borrowers with the highest credit scores.

So how much could you pay? Here’s what borrowers in the fair credit score range paid on average for car loans in the third quarter of 2024:

•   New car buyers paid 9.73%

•   Used car buyers paid 14.07%

By comparison, buyers with excellent credit paid 5.08% for new car loans and 7.41% for used car financing on average.

Here’s an example to review:

•   If you got a $20,000 used car loan with a 48-month repayment term at a 14.07% APR, your monthly payments would be $547, and you’d pay $6,267 in interest over the life of the loan.

•   Now, if you built your credit and qualified for a 7.41% APR instead, your monthly payment would drop to $483, and you would pay just $3,171 in total interest.

Those numbers could be a great incentive to work on building your score before applying for a car loan.

Can I Get a Mortgage With a 609 Credit Score?

A 609 credit score isn’t a barrier to getting a mortgage, but it may limit your loan options. For example, most lenders require a minimum credit score of 620 to qualify for conventional mortgages, as well as VA and USDA loans.

That said, some VA and USDA lenders will review your application and may fund your loan, even if your credit score is below 620.

You could also qualify for an FHA loan with a FICO score as low as 500. FHA loans are federally insured loans that are designed to help people buy homes, even when their credit isn’t perfect. If you’re in the 609 credit score range, you could buy a home with as little as 3.5% down (or 10% if your score ranges from 500 to 579) and access a favorable interest rate.

The best way to find a good FHA loan rate for fair credit is to shop around and compare rates from multiple lenders. Look for lenders that offer free rate quotes without affecting your credit scores.

Recommended: How Many Personal Loans Can You Have at Once?

Can I Get a Personal Loan With a 609 Credit Score?

Personal loans can put cash in your hands when you need it, whether for a big dental bill or the cost of a vacation. It’s possible to qualify for one with a 609 credit score, albeit probably at a higher interest rate than you’d be offered if your score was higher.

As with mortgages or car loans, it’s important to shop around. Compare personal loan rates, terms, and fees. If you’re getting a credit card consolidation loan to streamline your debts, it’s important to make sure the loan rate you qualify for is less than what you’re paying to your cards. Otherwise, consolidating might not save any money.

To really dig into the numbers, use a personal loan calculator to estimate what you might pay, based on different loan rates and terms.

The Takeaway

A 609 credit score isn’t considered good. Rather, it falls into the tier below that, which is fair. While you can qualify for some forms of credit, it will likely be at higher interest rates and with less favorable terms than if your score was higher. Carefully review options, whether for a credit card or personal loan, to make sure you understand the fine print.

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.