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By Mario Ismailanji |
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Comments Off on Week Ahead on Wall Street: Hawks Vs. Doves
With the next Federal Reserve meeting front and center, investors should buckle up for what promises to be the most dramatic week left in the year.
While another interest rate cut is nearly fully priced into markets, it’s not likely to be a unanimous choice. Fed officials have been openly divided since the last Fed meeting, and we could see four or five of the 12 voting members dissent.
On one side, the hawks (mostly regional Fed presidents) have argued that the Fed should stop cutting rates because inflation remains too sticky and tariffs pose a new risk. On the other, doves (mostly Fed governors) have said we need another cut because downside risks to the cooling labor market outweigh those concerns.
Complicating all of this – as if monetary policy wasn’t already complicated enough – is that the Fed will release its quarterly Summary of Economic Projections, which include their expectations for economic growth, unemployment, inflation, and rates over the next few years.
How this tug-of-war shakes out will set the tone for the rest of this year, and the next as well. The path forward is anything but settled.
Economic and Earnings Calendar
Monday
• November New York Fed Survey of Consumer Expectations: This is a measure of peoples’ expectations for inflation, jobs prospects, earnings growth, and more.
Tuesday
• November NFIB Small Business Optimism: This measures how small business owners feel about current and future economic conditions.
• October Job Openings: A key measure of business demand for labor is the number of job openings, since reducing openings is easier and preferable to layoffs.
• 3Q Employment Cost Index: This is the most comprehensive measure of worker compensation, including wages, bonuses, benefits and more.
• FOMC Interest Rate Decision: The Federal Reserve will announce any changes to monetary policy after the conclusion of its two-day FOMC meeting, in addition to providing commentary on the economy. It’s one of eight regularly scheduled meetings per year.
• November Treasury Statement: This summarizes the U.S. federal government budget by tracking government revenues and expenditures.
• Weekly Mortgage Applications: Mortgage activity gives insight on demand conditions in the housing market.
• September Trade Balance: Trade, made up of exports and imports, is an important driver of economic activity.
• September Wholesale Inventories and Sales: Wholesalers often operate as an intermediary between manufacturers and retailers, serving as a key part of the goods supply chain.
• Fedspeak: Philadelphia Fed President Anna Paulson will discuss the economic outlook at the Delaware State Chamber of Commerce. Cleveland Fed President Beth Hammack will speak at a Real Estate Roundtable Series.
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Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
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Comments Off on Is 690 a Good Credit Score?
Is 690 a Good Credit Score?
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By Jennifer Calonia
(Last Updated – 11/2025)
A 690 credit score qualifies as a good rating according to popular credit scoring models, like FICO® Score. That said, it is slightly below the current average score of 715 in America.
If you’re wondering what 690 credit means for you if you need to borrow money, you will likely qualify for a car loan, mortgage, and other types of financing applications. However, you may not be offered the most favorable terms. Those may be reserved for people with a very good or excellent credit rating.
Read on to learn more about your credit score, what you will likely qualify for, and how to build your credit score.
Key Points
• A 690 credit score is good but slightly below the national average.
• Individuals can qualify for various loans and credit cards, though not with the best terms.
• Timely payments are essential, constituting 35% of the FICO Score.
• Keeping credit utilization low, ideally between 10% and 30%, is crucial.
• Diversifying credit types and maintaining old accounts helps improve the score.
What Does a 690 Credit Score Mean?
As mentioned above, a 690 credit score means you are in the good range. Credit companies, like FICO, develop a proprietary credit scoring formula and establish credit score ranges. Using this calculation and your past credit activity data, your credit score is calculated. This score helps lenders understand whether your risk level for default as a borrower.
FICO Scores are generally between 300 to 850. Whether you’re looking at FICO Scores vs. credit scores from another model, the higher your score, the better your chances at approval and getting the lowest interest rates.
A 690 FICO Score means that your credit is good, though a bit lower than the current national average of 719. You will likely qualify for loans and loans of credit, though perhaps not with the best terms.
💡 Quick Tip: Before choosing a personal loan, ask about the lender’s fees: origination, prepayment, late fees, etc. SoFi personal loans come with no-fee options, and no surprises.
What Else Can You Get with a 690 Credit Score?
Having a 690 score means you’ve demonstrated responsible borrowing and repayment habits in the past. Keeping a good score can be rewarding in many ways, including earning access to different types of credit. Here are some specifics.
Can I Get a Credit Card with a 690 Credit Score?
If you have a 690 credit score, you’ve already met one eligibility requirement for a variety of credit cards. Although some credit card issuers design cards for those with exceptional credit, others readily accept applicants with good credit, like a 690 FICO Score, or higher.
However, credit card issuers have their own minimum borrower requirements beyond your credit score. For example, they might evaluate your income, employment, monthly housing payment, and other monthly obligations to decide whether they will approve you, and at what rate and credit limit.
Can I Get an Auto Loan with a 690 Credit Score?
Getting an auto loan with a 690 score likely won’t be difficult assuming your income and existing monthly debt payments suggest you can afford the loan. As a point of comparison, most car loans go to borrowers with a credit score of 661 and higher, according to Experian®.
Like other types of financing, your credit score can have a significant effect on the rate you qualify for and how much you’ll pay in interest over time. Some dealerships offer their own financing, or you can see if you qualify through one of its financing partners. Getting prequalified in advance may help you find the best rate for your situation and keep within budget.
You might also see what your current bank or credit union offers in terms of loans. With your existing relationship and good credit, you might have a better chance at getting approved at a competitive rate.
Can I Get a Mortgage with a 690 Credit Score?
With a 690 FICO Score, you might also qualify for a conventional mortgage loan through a private lender, like a bank or other financial institution. Typically, you need a score of 620 or higher. However, your credit score is only one of many details a home financing lender assesses for its decision. Other factors can include your income and other assets, unpaid debt, your down payment amount, the home’s price, and where the property is located.
When you’re ready to buy your first or next home, having a strong credit score can help you secure a mortgage loan with a better rate and advantageous borrowing terms.
There are many types of home loan financing available to borrowers with a 690 score. For example, a Federal Housing Administration (FHA) loan is available to those with a minimum credit score of 500. Homebuyers might explore an FHA loan, for example, if they have good credit but don’t have a sizable down payment.
Can I Get a Personal Loan with a 690 Credit Score?
A personal loan or credit card consolidation loan can be a powerful financial tool, whether you want to simplify your debt repayment or are preparing for a large purchase. Since a 690 credit score is good by many lenders’ standards, getting a personal loan is likely possible. Some lenders will approve loans to borrowers with a 610 to 640 or higher scores.
However, whether a lender is ultimately willing to give you a personal loan depends on the big picture of your borrower profile. The lender expects to see that your personal income can sustain your monthly payments, in addition to your other debt responsibilities. Those with higher scores may have more offers to choose among as well as those with more favorable terms.
How to Build Your Credit Score
Having a 690 credit score is a solid achievement. As a good score, it can help carry you through the door to approval with many lenders. However, building your credit score can be even more advantageous, helping you access more favorable terms. Here are some tactics to try:
• Make your debt payments on time. Thirty-five percent of your FICO Score is based on your payment activity. Ensure that you’re paying the minimum amount that’s due each month and that the lender receives your payment by your due date.
• Don’t max out your credit. Keep your unpaid balances low compared to your available credit limit (no more than 30% and preferably 10%). The amount you owe in relation to your available credit is called credit utilization. This category accounts for 30% of your FICO Score.
• Nurture your old accounts. How long you’ve had your credit accounts impacts 15% of your score calculation. FICO considers the average age of all your credit accounts, as well as the age of your oldest open account. If you have a long-standing line of credit you rarely use, it might benefit your score to keep it active and open.
• Get experience with different credit types. A diversified portfolio of credit account types contributes to 10% of your credit score. For example, a healthy mix of an auto loan, mortgage, and credit cards can help this category.
• But space out new accounts. Ten percent of your score evaluates how many new accounts you have and how frequently you’ve sought out new credit. Even if you weren’t approved for a loan or credit card, a hard credit inquiry can go against the “new credit” category, temporarily lowering your score by several points. If possible, wait at least 12 months before getting new credit.
The Takeaway
Is a 690 credit score good? Yes. It’s a solid score that can help you qualify for a new loan or other credit line. This score can open doors for offers for mortgages, car loans, personal loans, and credit cards. However, it can be built further to get the most favorable borrowing options.
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.
SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.
How big of a loan can I get with a 690 credit score?
There’s no set amount that you’re guaranteed to get approved for with a 690 score. All lenders and credit card issuers have unique underwriting criteria that determines how much they are willing to loan you.
How to go from 690 to 750 credit score?
You can help build your credit score from 690 to 750 with responsible repayment habits and time. Thirty-five percent of your FICO Score is based on your payment history, so you might automate your payments so you never miss a due date. Also, keeping your credit utilization in check — which accounts for 30% of your score — can have a big impact. Ideally, you will only use between 10% and 30% of your credit limit.
How good is a 690 credit score?
A 690 score is considered a good rating. Your past borrowing behavior is in line with the average U.S. consumer, though your score is slightly below the current average credit score of 715.
Photo credit: iStock/Alison Calazans
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{/* module*/}
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By Ben Kesslen |
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Comments Off on AI Took Your Job. Should You Use It to Find Your Next One?
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If you’re looking for work, chances are you’ve seen a lot on social media about “AI resume hacks” and other ways to automate your job hunt. LinkedIn, TikTok, and Youtube are awash with advice on using ChatGPT and other artificial intelligence to come out on top, and it’s easy to see why.
Hiring is down, layoffs are up, and long-term unemployment has been on the rise for over a year now. And here’s an irony: While AI has become a primary job search tool, the technology has also led to nearly 50,000 announced job cuts this year, according to data from career placement firm Challenger, Gray & Christmas. The majority of those came in October, when a total of 153,000 announced cuts made it the worst October for layoffs since 2003.
But is there a downside to using AI in your job hunt? While research shows that the vast majority of job seekers are relying on it in one form or another, experts say using the technology too much can backfire, especially when it’s a crutch for writing applications or doing interviews.
“In an incredibly competitive job market, where you need to stand out, AI can actually prevent that,” said Eliana Goldstein, an independent career coach. “You need your own voice to come through.”
What’s more, some job listings have started explicitly stating that using AI is grounds for disqualification. (Even Anthropic, the maker of Claude AI, had to create strict rules for using it in applications and interviews.) And the technology can make it easier to cross a line: 91% of U.S. hiring managers have either caught or suspected a candidate of using AI to misrepresent themselves, according to a recent survey by Greenhouse, a hiring software company.
So what? Everywhere you turn, it’s a brave new world because of AI. And as a society we’re only just beginning to understand the rewards and risks of using it. (Interestingly, while almost half of U.S. job seekers in the Greenhouse survey were drawn to the time savings of AI, many also considered it a way to level the playing field with employers using AI-driven screening systems.)
• In the early stages: AI is a valuable tool in the beginning of a search, and not just for amassing a list of job openings, according to Michael McCutcheon, a career coach and adjunct professor of applied psychology at New York University. It can also be helpful in brainstorming new career paths if you’re looking to pivot industries. Tell tools like Gemini or Claude your skills, what you do now, and what you want to do in the future.
• For the boring stuff: We’ve all re-read an email to a recruiter 14 times to make sure it’s typo-free or endlessly second-guessed how many bullets to include in our resume. AI can take some of that angst away — and help you use your time more efficiently, Goldstein said.
• To polish: While the first draft of a cover letter should be from you, you can still use AI to improve your writing, clean up grammar, etc., according to McCutcheon. AI tools can also compare your letter to the job description to make sure you’re showcasing your most fitting attributes. Ditto for resumes.
What to avoid:
• Sounding like a robot: Vanessa Stasco, managing director at recruiting firm Ikon Search, says it is often clear when she is on the receiving end of a ChatGPT application. And if the role requires independent thinking, obvious AI use can get you eliminated immediately, she said. In short, don’t use AI to replace what makes you you.
• Scripting interview answers: While AI tools can help you brainstorm potential questions, don’t use them to script your answers. For one, most employers want people who can think on their feet. Plus, things may not go according to plan, so you risk appearing disorganized or unengaged. McCutcheon advises having a friend or coach conduct a practice interview instead.
• Becoming overreliant: Turning to AI too much in your search runs the risk that you’ll come up short once you’re on the job. The more you outsource to AI, the fewer chances you’ll have to hone soft skills like being diplomatic or working well in a team. “It’s so important to balance AI and what it can offer without letting it override our critical-thinking skills,” said Goldstein. Otherwise, “we’ll be in big trouble when it comes to actually being successful on the job.”
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
