By Jason Steele

(Last Updated – 07/2024)

A 713 credit score is considered to be “good” credit, and should give you access to a wide array of loans and credit cards. However, your score isn’t as good as it could be, and falls below the “very good” and “exceptional” credit tiers. As a result, you may not receive the lowest available annual percentage rates (APRs) or a lender’s most favorable terms.

Let’s take a closer look at what a 713 credit score means, and what kind of credit cards, auto loans, personal loans, and mortgages you can get with this score.

What Does a 713 Credit Score Mean?

A credit score is a three-digit number, typically ranging between 300 and 850, meant to predict how likely someone is to repay a loan on time. Your credit scores (yes, you have more than one) are calculated based on account and payment information in your credit reports. You have three credit reports, one from each of the major credit bureaus (Equifax, Experian, and TransUnion).

There are two major credit score providers, FICO^® and VantageScore^®. Using the FICO scoring model, which is the one most commonly used, a 713 credit score falls into the “good” range (670 to 739), but below the “very good” (740 to 799) and “exceptional” (800+) tiers. With VantageScore, a 713 credit score also lands in the “good” range (661 to 780), below the “excellent” tier (781 to 850).

A 713 score can mean that you are newer to credit or that you’ve been using credit for a while but have made a few mistakes along the way, such as the occasional late payment or using a large amount of your available credit. Nevertheless, your 713 credit score is close to the average credit score in the U.S., which is 717. Having “good” and not “fair” or “poor” credit also signals to lenders that you are an acceptable borrower and relatively low risk.

Recommended: FICO Score vs Credit Score

What Can You Get with a 713 Credit Score?

With a 713 credit score, you are likely to have access to a variety of lending products, including credit cards, auto loans, personal loans, and home mortgages. Here’s a breakdown of what you may be able to qualify for with a 713 score.

Can I Get a Credit Card with a 713 Credit Score?

Your credit score plays a big role in whether or not you can get approved when applying for a new credit card. It also determines the credit limit, interest rate, and perks the card issuer will offer you. Generally, higher scores will qualify you for larger limits, better rewards programs, and lower interest rates.

With a 713 credit score, you shouldn’t have difficulty getting approved for a credit card, including cards with no annual fees and those that offer some cash back or travel rewards. You’ll also likely qualify for most store credit cards, which can only be used at that particular store or chain of stores.

That said, a 713 score likely isn’t going to be high enough to qualify for premium travel rewards cards that offer generous perks, sign-up bonuses, and lower interest rates, or the best 0% APR offers. These more exclusive credit cards typically require borrowers to have a score between 720 and 850.

Can I Get an Auto Loan with a 713 Credit Score?

You should be able to get approved for most auto loans with a 713 credit score. About 69% of vehicle financing is for borrowers with credit scores of 661 or higher, according to Experian.

The car loans with the lowest interest rates and most favorable terms, however, are generally reserved for borrowers who have “very good” or “exceptional” credit. For example, borrowers with credit scores between 781 to 850 pay, on average, 5.38% APR for a new car loan; those with scores between 661 to 780 pay, on average, 6.89% APR for a new car loan.

Whether you get approved for an auto loan and what rate you’ll be offered will also depend on how much money you put down on the car and how much you’re looking to borrow.

Can I Get a Mortgage with a 713 Credit Score?

You can likely get a mortgage loan with a 713 credit score, including a conventional mortgage (the most commonly used mortgage loans) and a jumbo loan (which carries higher amounts than conventional loans). However, you probably won’t qualify for a mortgage lender’s best rate. Instead, you’ll likely pay an interest rate in line with national averages.

Whether you qualify for a mortgage and at what interest rate, however, will depend on more than your credit score. Lenders will likely also look closely at your debt-to-income ratio (DTI), which is the percentage of your monthly gross income that is being used to pay your monthly debts. A DTI of 43% is typically the cut-off for getting approved for a mortgage, but lenders generally prefer ratios of no more than 36%.

As part of your application, a mortgage lender will also consider the amount of your down payment, along with your income and employment history.

Can I Get a Personal Loan with a 713 Credit Score?

Like most credit cards, personal loans are typically unsecured, meaning they’re not backed by collateral. As a result, lenders rely solely on a borrower’s creditworthiness to assess if a borrower qualifies and at what rate. Creditworthiness is usually a combination of your credit history and score, in addition to income and debt.

The good news is that you shouldn’t have difficulty getting a personal loan with a 713 score. To qualify, borrowers generally need a minimum credit score of 580. Your chances of getting a low interest rate on a personal loan, however, will be much higher if you have a credit score of 740 or above.

Once approved, a personal loan gives you access to a lump sum of money (anywhere between $1,000 to $50,000, sometimes more) that you can use for virtually any purpose. Personal loans are commonly used for home improvements, credit card consolidation, medical debt, large purchases, weddings, funeral costs, and more.

The Takeaway

A 713 credit score is a good credit score, but it’s not as good as it could be. To qualify for loans with the lowest interest rates and receive the most favorable terms, you’ll want to get your credit score closer to 740, ideally even higher. Building your credit — by always making on-time credit payments, catching up on past-due accounts, and paying down revolving account balances — can help improve your credit profile and allow you to unlock lending products with lower 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 Jason Steele

(Last Updated – 07/2024)

A 699 credit score is considered a good score and should enable you to qualify for most loans and credit cards. This score is a bit below the middle of the good range, which in turn lies below the very good and excellent ranges.

It’s worth noting that with a 699 credit score, while you may be approved for a number of offers, you will not receive the lowest interest rates and most favorable terms. Those are often reserved for those with a score of 740 or higher. Read on to learn more about what you can likely attain with a score of 699.

What Does a 699 Credit Score Mean?

Your credit score is a number that’s designed to represent the likelihood of repaying a loan. Credit scores use account and payment information from your credit reports to produce credit score ranges between 300 and 850.

Each of the top three credit bureaus has a unique way of calculating a credit score. According to the FICO^® scoring system, which is the most popular one, here’s how credit scores stack up:

•   Poor credit: 300-579

•   Fair credit: 580-669

•   Good credit: 670-739

•   Very good credit: 740-799

•   Excellent credit: 800-850

As you can see, a score of 699 puts a person squarely in the good range. (As mentioned, your score may vary depending on a FICO score vs a credit score from another bureau.)

A 699 FICO score usually indicates that you have been using credit responsibly most of the time, but perhaps you have had several negative credit issues, such as late payments, or that you have a brief credit history and haven’t had time to build a higher score as yet.

If you’re wondering how this score compares to your fellow Americans, consider that the current average credit score in the U.S. is 717.

💡 Quick Tip: Before choosing a personal loan, ask about the lender’s fees: origination, prepayment, late fees, etc. One question can save you many dollars.

What Else Can You Get with a 699 Credit Score?

With a 699 credit score, you will probably be approved for a variety of secured and unsecured loans including home mortgages, personal loans, and credit cards. You may not snag the loans with the lowest rates or the best terms (these are often reserved for those with a score of 740 or higher), but you should be able to qualify for many different kinds of loans. Here’s a closer look.

Can I Get a Credit Card with a 699 Credit Score?

With a 699 credit score, you should be able to get approved for most credit cards, including some with such perks as cash back and travel rewards. You may also be offered cards with competitive APRs (annual percentage rates) or possibly 0% APR promotional financing offers.

However, you’ll probably need to have a credit score of at least 740 to be approved for some of the premium rewards credit cards. These might grant access to posh airport lounges or offer the longest promotional financing offers.

Can I Get an Auto Loan with a 699 Credit Score?

You should be approved for most auto loans with a 699 credit score. Often, a score of 661 is required to get a car loan, so a 699 credit score should help you qualify.

However, the loans with the lowest interest rates and most favorable terms will be reserved for those who have excellent vs. good credit. Currently, according to Experian^®, the numbers look like this:

•   With a credit score between 661 and 780, a new car loan will charge an average interest rate of 6.83%, and for a used car loan 9.04%.

•   For those with higher credit scores of 781 to 850, the rates will be on average 5.38% for a new car loan and 6.80% for a used car loan.

As you see, these numbers indicate that it will cost more to borrow money with a lower credit score. No matter what your score may be, though, it’s always a good idea to shop around and receive multiple offers in your quest for the most favorable loan terms.

Recommended: Can You Get a Personal Loan for a Car?

Can I Get a Mortgage with a 699 Credit Score?

If you have a 699 credit score, there are likely to be plenty of mortgage lenders offering you mortgage loans. Typically, the number needed to secure a home loan is 620. It can literally pay to shop around and find the best deal for your situation.

Don’t worry about rate shopping for a mortgage having a negative impact: Applying for multiple loans in a short period of time should not hurt your credit score. The applications are effectively combined into one when people are shopping for the right fit regarding rates and terms. Depending on the credit bureau, you could have a 14- to 45-day window for this.

It’s also worth noting that those with lower credit scores may be able to secure a government-backed loan, like an FHA loan. For some prospective homeowners, this can be a good option. With an FHA loan, you may be approved with a 10% down payment and a credit score of 500, or with a 3.5% down payment and a score of 580.

Can I Get a Personal Loan with a 699 Credit Score?

There are typically plenty of lenders who will offer you personal loans, such as credit card consolidation loans, with a 699 credit score. In this case, you can pay off high-interest credit card debt with a personal loan that may charge a lower interest rate and/or have a longer term, which makes your monthly payments more manageable. (A longer term, though, can mean more interest paid over the life of the loan.)

As with the other instances cited above, you would likely qualify for a more competitive interest rate if your FICO score were 740 or above. You should still however have options available.

Tips for Building a 699 Credit Score

There are several strategies that can help build your credit score. Doing so may help you qualify for more loan options, potentially with more favorable terms.

•   The first is to examine your credit history. If you find errors that hurt your score, you can dispute them and have them removed.

•   You can also help build your credit score by paying down or paying off debt, as the amount owed makes up 30% of your credit score. Credit bureaus look at how much you owe vs. your credit limit when they review your credit utilization ratio, which you’ll want to keep under 30%, or preferably 10%.

•   Possibly the most important way to build your credit score is to always make your payments on time, as your payment history makes up 35% of your score.

•   Another factor is the length of your credit history. This is why it can be wise to keep credit cards open even if you don’t use them often; it can have a positive impact on your score.

•   Having a mix of credit can also help build your credit score. If you have, say, an installment loan and a revolving line of credit instead of just one or the other, that could have a positive effect on your credit score.

The Takeaway

A 699 credit score is a good credit score and will likely allow you to qualify for a variety of forms of credit, such as credit cards, car loans, mortgages, and personal loans. You may not be offered as competitive rates and terms as you would if your score were 740, however. There are steps you can take to help build your credit over time with the goal of snagging those most favorable offers.

If you’re in the market for a personal loan, see 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.