By Jackie Lam

An 800 FICO Score is better than good: It’s considered excellent. If you have an 800 score, you’ve likely put in the hard work of getting to that number and deserve some kudos.

An excellent credit score can feel like getting to the front of the line at an exclusive club. It boosts your purchasing power as a consumer, and you’ll have an easier time landing lower interest rates and better terms on that car loan or mortgage.

Here, learn more about what an 800 credit score contributes to your personal finances and how you can make the most of it.

What Does an 800 Credit Score Mean?

In the world of consumer credit, scores range from 300 to 850. The most common credit scoring model is the FICO Score, which is used by 90% of lenders.

Here are the FICO credit score ranges:

•   Poor: 300–579

•   Fair: 580–669

•   Good: 670–739

•   Very Good: 740–799

•   Excellent (or exceptional): 800–850

Going by the breakdown, an 800 credit score is just over the line and puts you in the range of “excellent” or “exceptional” credit scores. The next lowest credit score range is “very good,” which ends at 799.

Each lender determines what you can qualify for based on your score. With an 800 credit score, you’ll likely qualify for the most favorable terms and lowest interest rates, but lenders usually also factor in other financial information, such as income and debt-to-income (DTI) ratio.

What Else Can You Get With an 800 Credit Score?

As a member of the 800 credit score club, not only can you qualify for a mortgage, personal loan, credit card, or car loan, but you’ll likely get approved for larger loan amounts, lowest interest rates, and more flexible terms than with a lower score.

A credit score, while important, is one of the many things lenders and creditors look over when gauging whether to offer you loan or credit. As mentioned, they also usually fold in your income, DTI ratio, and collateral. If a down payment is required, they’ll take that into consideration.

Recommended: Secured Versus Unsecured Personal Loans–What’s the Difference?

Can I Get a Credit Card With an 800 Credit Score?

With an excellent credit score, you’ll likely get approved for plastic with top-notch credit card rewards, such as travel perks and cash back. While you probably won’t run into much trouble landing a credit card of your choice, it’s a matter of shopping around and looking for a credit card that is the best fit for your needs.

To help you decide on the best credit card for you, think about what you’ll primarily be using the credit card for, and how it fits into your “money ecosystem.” For instance, how much do you anticipate putting on the card and for what sort of purchases? That may steer you to the options that best suit your needs: Do you care more about the credit card interest rate or the airport lounge access your plastic could deliver?

Of course, you’ll want to pay your balance in full if possible, which can help you avoid paying a lot in interest plus help keep your credit utilization low.

Can I Get an Auto Loan With an 800 Credit Score?

According to recent data gathered by Experian®, the average credit score for a new car in Q2 of 2024 was 753, and the average credit score for a used car was 689. So with an 800 credit score, you’ll likely be able to secure low interest rates and more flexible terms.

Currently, the average interest rate on a car loan hovers at 9.65%. The rate also can depend on your credit history, down payment, the type of car, and other financial and credit criteria, such as your DTI ratio and income.

Can I Get a Mortgage With an 800 Credit Score?

An excellent credit score can help you land a mortgage with more favorable rates than if you had a lower score. Here’s a look at the minimum credit score requirements for different types of home loans:

•   Conventional home loans: You usually need a minimum credit score of 620 for a conventional home loan.

•   Jumbo loans: Lenders typically want to see a credit score of at least 700 for a jumbo loan, which for 2024 is defined as a home loan that exceeds $806,500 to $1,209,750, depending on the location.

•   FHA loans: For an FHA loan, applicants can typically qualify with a 580 minimum credit score if they can provide a 3.5% down payment.

•   VA loans: While the VA doesn’t require a minimum credit score, lenders will typically want a credit score of at least 620.

•   USDA loans: Expect to provide at least a 640 credit score. If your score falls below that, or if you have had a significant delinquency, a full credit review is required.

Can I Get a Personal Loan With an 800 Credit Score?

An 800 credit score is in the excellent range, which means the odds are strong that you can land a personal loan with higher loan amounts, low interest rates, and more flexible terms. Personal loans, which are typically unsecured, may have a higher interest rate than secured loans, but they are a flexible way to pay for anything from a major dental bill to a wedding to vacation costs.

Per the Federal Reserve Bank of St. Louis, the average interest rate for a 24-month personal loan is 11.92% as of May 2024, so you might be able to qualify for a lower rate with a strong score.

If you’re curious about pursuing a credit card debt consolidation loan, you’ll also likely qualify for lower interest rates than those with a lower than 800 credit score. This can make lumping together your existing credit card debt with a new personal loan worthwhile.

Recommended: Personal Loan Calculator

The Takeaway

An 800 credit score is considered better than good: It qualifies as an excellent score. When you have an excellent score, it’s a matter of knowing which features of a loan or credit line are most important to you, and shopping around for the lowest rates and best terms, plus the right funding type and amount.

When you have options, it’s a good idea to avoid high-interest credit card debt. A SoFi personal loan might be just the right fit.

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 590 FICO credit score falls in the “fair” credit tier, which ranges from 580 to 669. It’s better than “poor” credit (300 to 579), but only by 10 points. Some lenders will approve fair credit borrowers for a credit card or loan, but they tend to charge relatively high interest rates and fees. Here’s a look at why you might have a 590 credit score and how it can impact your ability to access credit.

What Does a 590 Credit Score Mean?

A credit score is a prediction of how likely you are to pay a loan back on time based on information from your credit reports. You have three credit reports, one from each of the major credit bureaus (Experian®, TransUnion®, and Equifax®). You also have more than one credit score. This is because scores can be calculated using different scoring models, such as FICO, VantageScore®, or a lender’s own proprietary formula.

The most widely used credit scores in the U.S., however, are FICO scores. Here’s how the FICO® score ranges break down:

•   300-579: Poor credit

•   580-669: Fair credit

•   670-739: Good credit

•   740-799: Very good credit

•   800-850: Exceptional credit

A score of 590 falls in the lower end of the “fair” range. It’s also well below the average credit score in the U.S., which was 717 as of March 2024. As a result, lenders may consider you a high-risk borrower. This can make it harder to get approved for credit cards, personal loans, auto loans, and mortgages. And if you do get approved, you’re likely to face less favorable terms, such as higher interest rates and fees.

What Causes a 590 Credit Score?

A credit score of 590 suggests that there are some negative factors in your credit history. This may include:

•   Late or missed payments: Payment history is the most significant factor in your credit score. A 590 score often indicates a history of missed or late payments.

•   High credit utilization: This score can also suggest that you have high balances on your credit cards compared to your credit limits. High credit utilization can drag down your score.

•   Limited or thin credit history: If you haven’t been using credit for very long, or if you have very few credit accounts, your score may be lower as a result.

•   Recent negative marks: This could include things like recent charge-offs, collection accounts, or even a bankruptcy, which would severely impact your score.

While a 590 score is not ideal, it’s not the end of the road. Many lenders offer products designed for individuals with lower credit scores, though the terms may be more restrictive than for someone with a higher score.

Recommended: Is 580 a Good Credit Score?

What Else Can You Get with a 590 Credit Score?

Here’s a look at the types of financial products you may still qualify for with a 590 credit score.

Can I Get a Credit Card with a 590 Credit Score?

It’s possible to get a credit card with a 590 credit score, but your options may be limited, and you’ll likely face higher costs. Here are some types of credit cards that may be available to you:

•   Secured credit card: A secured credit card requires you to make an upfront refundable deposit that then becomes your credit limit. For example, if you put down a $500 deposit, you’ll have a $500 limit on the card. The credit card provider will report your payments to the credit bureaus. As a result, using a secured card responsibly can help you build your credit and potentially upgrade to an unsecured card in the future.

•   Basic unsecured credit card: Some issuers will offer a basic credit card for borrowers with fair credit. While it won’t require a deposit, it may come with an annual maintenance fee, low credit limit, and high interest rate. You’ll want to read the terms carefully and consider whether the costs are worth it.

•   Store credit card: Many retailers offer store-branded credit cards that are easier to qualify for with a lower credit score. However, these cards often come with high interest rates and may only be usable at the specific retailer.

Can I Get an Auto Loan with a 590 Credit Score?

While there’s no set minimum score to get a car loan, the majority of borrowers have scores above 660. Borrowers with scores of 501 to 600 accounted for just 15.70% of cars financed in the second quarter of 2024, according to Experian.

There are some auto lenders that are willing to work with fair credit borrowers, but they generally charge high annual percentage rates (APRs). To get a lower rate on an auto loan for fair credit, you might consider asking a trusted family member or friend with good credit to act as a cosigner. Other strategies that can help: raising your down payment (this lowers your loan amount, reducing risk to the lender) and seeking out alternative lenders, such as a credit union or an online lender.

Recommended: What to Know Before You Borrow Money Online

Can I Get a Mortgage with a 590 Credit Score?

The minimum credit score needed for most mortgages is generally 620. However, that doesn’t mean you’re out of luck. You may be able to qualify for a mortgage backed by the Federal Housing Administration (FHA). FHA loans are geared toward borrowers with lower credit scores and down payments, particularly first-time homebuyers. You may be able to qualify for an FHA loan with a 3.5% down payment if your score is 580 or higher.

Your credit score isn’t the only factor when qualifying for a mortgage, however. Lenders will also consider your debt-to-income ratio (DTI), which is the percentage of your monthly income that goes toward debt payments. To qualify for an FHA loan, your DTI generally can’t be higher than 43%.

Can I Get a Personal Loan with a 590 Credit Score?

It’s possible to get a personal loan or credit card consolidation loan with a 590 credit score, but your choice of lenders will likely be limited, and you may have to settle for a loan with a high interest rate and other fees (such as an origination fee). You generally need a score around 740 or higher to qualify for a personal loan with the best rates and terms.

Whether or not you can get a personal loan (and what the rate will be) also depends on your debt-to-income ratio. Personal loan lenders typically like your DTI to be somewhere between 35% and 45% or less.

You can get an idea of what APR you might qualify for by applying for prequalification with a few different lenders (this requires a soft credit check, which won’t harm your credit). If you’re looking to get a personal loan to consolidate high-interest debt, an online personal loan calculator can help you determine how much interest you could potentially save.

The Takeaway

A 590 credit score is not considered good, but fair. Can you still get a credit card, auto loan, mortgage, or personal loan? The answer is yes, but it will require some careful planning and possibly higher costs.

If you don’t need funds right away, you may be better off taking some time to build your credit before you apply. Simple steps like paying your bills on time, paying down credit card balances, and taking out a secured credit card can help improve your credit profile over time. This can give you access to lending products with lower rates and better terms 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 Rebecca Safier

A credit score of 624 is considered fair credit, which is stronger than poor credit but weaker than good credit. It’s also well below the national average FICO® score of 717. That doesn’t mean you can’t get approved for a loan or credit card, but your options may be limited and you could face higher interest rates and fees. Here’s a closer look at what a 624 credit score means for your finances and ability to qualify for a credit card, auto loan, mortgage, or personal loan.

What Does a 624 Credit Score Mean?

When you are applying for a new loan or credit card, lenders will review your credit score to determine your risk as a borrower.

FICO scores range from 300 to 850 and are divided into five tiers:

FICO bases its credit scores on five categories of information found in your credit reports. Here’s what they are (and how much impact they have on your score):

•   Payment history (35%)

•   Amounts owed (30%)

•   Length of credit history (15%)

•   Credit mix (10%)

•   New credit (10%)

You may have a 624 credit score because you’ve mismanaged credit in the past. For example, people with fair credit often have late payments and collections accounts on their credit reports, according to Experian. In some cases, they may have a significant negative event, such as a foreclosure or bankruptcy, that caused their scores to dip into “fair” territory.

To find out why you have fair credit, it’s a good idea to take a read through your credit reports. You can get a free copy of your credit report from each of the three major credit bureaus by visiting AnnualCreditReport.com.

What Else Can You Get With a 624 Credit Score?

It can be challenging to get approved for loans and credit cards with a 624 credit score, but it’s not impossible. You’ll likely need to put in some legwork to find a lender that’s willing to work with you. You might also consider applying with a cosigner or collateral to snag a better interest rate or a higher loan amount.

Here’s a closer look at your options for getting a credit card, mortgage, auto loan, or personal loan with a credit score of 624.

Can I Get a Credit Card With a 624 Credit Score?

You should be able to get a credit card with a 624 credit score, but with a few caveats. Here’s a look at what you may be able to qualify for:

•   Traditional credit card: A traditional credit card is unsecured, meaning it doesn’t require a security deposit. You may be able to get a basic credit card with a 624 score, but it could come with an annual fee and a high annual percentage rate (APR). You likely won’t qualify for the best credit card offers, such as cards with a 0% APR promotional period or perks like cash back and travel rewards.

•   Store credit card: Store credit cards (also known as retail credit cards) tend to have more flexible credit requirements than traditional credit cards, but beware of high APRs. You can avoid paying interest on your balance if you pay it off in full each month.

•   Secured credit card: A secured credit card requires an upfront cash deposit as collateral, which then becomes your credit limit. The credit card provider will report your payments to the credit bureaus. As a result, using a secured card responsibly can help you build your credit and potentially move up to unsecured cards in the future.

Can I Get an Auto Loan with a 624 Credit Score?

You can get an auto loan with a 624 credit score, but your interest rate will likely be higher than it would be if you had a good or better score. According to Experian’s State of the Automotive Finance Market report for the second quarter of 2024, borrowers with fair credit had an average interest rate of 9.83% on new car loans and 13.92% on used car loans. By contrast, the average interest rates for borrowers with exceptional credit were 5.25% for new car loans and 7.31% for used car loans.

To get the best possible rate on a car loan with a 624 credit score, consider saving up for a larger down payment (this decreases the loan amount, reducing the lender’s risk). It’s also wise to shop around and compare offers from different lenders, including banks, credit unions, and online auto lenders.

Recommended: Smarter Ways to Get a Car Loan

Can I Get a Mortgage with a 624 Credit Score?

Fortunately, a 624 credit score is above the threshold to qualify for a conventional mortgage (one not backed by a government agency), which requires a minimum score of 620. Unfortunately, conventional lenders typically require “very good” or “exceptional” credit to qualify for the lowest mortgage interest rates.

Whether you get approved for a mortgage, and at what rate, will depend on more than your credit score, though. A lender will also look at several other factors, including your income, debt-to-income (DTI) ratio, and down payment amount when evaluating your mortgage application.

You could get by with a down payment as low as 3.5% if you pursue an FHA loan, which is guaranteed by the Federal Housing Administration. FHA loans can be a good option for homebuyers with weak credit, but have a few downsides, including stricter appraisal standards and a mortgage insurance requirement.

Can I Get a Personal Loan with a 624 Credit Score?

While you can qualify for a personal loan with a 624 credit score, lenders tend to reserve their best personal loan rates for borrowers with scores of 740 and above. With fair credit, you may be offered midrange interest rates. In addition, you may be approved for a lower loan amount and/or a shorter loan term than a borrower with good or better credit.

Your credit score is only one element of your personal loan application, though. Other things, such as your income, employment history, and DTI will also play a role in the lender’s decision and the terms of the personal loan.

To find an affordable offer for a personal loan or credit card consolidation loan, it’s a good idea to prequalify with multiple lenders. Prequalification typically only takes a few minutes and involves a soft credit pull, which won’t impact your credit. You’ll get to see your potential loan offers, though the details won’t be finalized until you submit a full application and the lender runs a hard credit inquiry.

If you’re thinking about consolidating high-interest credit card debt, an online personal loan calculator can help you crunch the numbers to see how much interest you could potentially save.

The Takeaway

If you have a 624 credit score, you can still qualify for loans and credit cards, but may get stuck with less-than desirable rates and terms.

Fortunately, credit scores aren’t set in stone. Managing your money responsibly and taking steps to build your credit — like making on-time credit payments, catching up on past-due accounts, and paying down revolving account balances — can help you access lending products with lower rates and better terms 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 Jamie Cattanach

Congratulations: If you have a 691 credit score, you officially have a good credit score — at least as far as FICO scores are concerned. (While there are different types of credit scores out there, FICO® scores are the ones most frequently used to assess borrower creditworthiness in the United States.)

Good credit scores are those that range from 670 to 739, according to Experian®.1 But that doesn’t mean good credit is the best credit you can have. Higher score ranges to aspire to include very good credit (740-799) and excellent credit (800-850). Still, if your score is 691, you should take the time to commend yourself on your solid credit history.

What Does a 691 Credit Score Mean?

A credit score of 691 puts you in the range of “good” credit. That’s higher than two other tiers: poor credit (300-579) and fair credit (580-669).

Here’s how the most popular credit score ranges at FICO stack up (you may have different credit scores depending on the system being used):

•   Poor: 300-579

•   Fair: 580-669

•   Good: 670-739

•   Very Good: 740-799

•   Excellent (or exceptional): 800-850

Being in the good credit category can unlock your ability to successfully apply for a variety of financial products, including credit cards, auto loans, personal loans, and mortgages with competitive rates. While it’s not just your credit score that’s considered, the better your score, the lower your interest rates are likely to be.

That’s why it’s important, even if you already have a good credit score, not to rest on your laurels. Continue to stay consistent with the on-time payments and other behaviors that got you here to build your score even more — and qualify for the most favorable possible loan terms.

Recommended: Using a Savings Account Calculator

What Else Can You Get with a 691 Credit Score?

Along with the bragging rights of saying you have a “good” score, here are a few of the financial products you may be able to successfully apply for with a 691 credit score.

Can I Get a Credit Card with a 691 Credit Score?

You will likely qualify for a credit card if you have a credit score of 691. Credit cards are often offered to people with scores over 580. (There are even credit cards on the market for people with poor or limited credit history, though a cash deposit may be required for a secured card.)

With a good credit score (one over 670), you may be able to qualify for cards with more perks, like cash back, travel benefits, and other credit card rewards. Of course, the credit card issuer may also take other financial information, like your income, into consideration.

Can I Get an Auto Loan with a 691 Credit Score?

According to Kelley Blue Book, the average new car sold for a whopping $47,870 in August 2024. You might spend a whole lot less if you buy a used car, but still: Many people need a loan to get behind the wheel at all.

While there’s no set minimum credit score to take out an auto loan, plenty of lenders do look for a good credit score. Having a better credit score, again, could mean a lower interest rate. For instance, those shopping for a new car with a poor credit score could be charged an interest rate of 15.62% vs. 5.38% for those with excellent credit, according to one recent study.

Plus, if you are interested in buying used, you’ll likely need a better credit score than you would for a new-car loan, according to Car and Driver: “Most used auto loans go to borrowers with minimum credit scores of at least 675,” the magazine reports. (Good news: That’s you!)

Can I Get a Mortgage with a 691 Credit Score?

Aside from retiring, buying a home is one of the biggest financial goals many Americans have. If you have a credit score of 691, this major milestone may be within reach. Even people with substantially lower credit scores — as low as 500 — may qualify for certain types of mortgages, like FHA loans. But with a good credit score, you likely have more offers to choose from.

For most conventional home loans, a score of 620 will unlock opportunities. Again, though, your credit score doesn’t guarantee you a successful application. Given the massive size and scope of the loan, mortgage lenders tend to look at your holistic financial picture, including your income, job history, debt-to-income ratio (DTI), and more.

Still, your score is an important consideration during the underwriting process, and even a slightly lower interest rate could save you tens of thousands of dollars over the course of a 30-year mortgage.

Can I Get a Personal Loan with a 691 Credit Score?

Personal loans are a type of loan you can use for just about anything you want to. Unlike auto loans and mortgages, they’re not secured by a specific piece of collateral. (That’s why they’re also called unsecured loans.)

With a credit score of 691, you’re likely to qualify for a personal loan, though keep in mind that the interest rates on these types of loans tend to be higher (since unsecured loans are riskier for the lending institution). People with a credit score of 580 or higher will likely also qualify for a personal loan, but at a higher interest rate than people like you with higher scores.

Even with an affordable monthly payment, the overall cost of the loan can scale quite quickly over time. A personal loan calculator can help you understand exactly how much those up-front funds will cost you.

Of course, there are some instances where personal loans might be a smart money move. For example, some people take out personal loans to consolidate their credit card debt, which usually has even higher interest rates. Along with helping simplify your monthly payment process, debt consolidation done right can significantly lower the overall amount you stand to pay in interest. That can be a win-win.

Other uses for a personal loan include:

•   Home renovations

•   Medical, dental, or car repair bills

•   Travel

•   Weddings and other big celebrations

Some people might use personal loan funds for a passion project or side hustle (such as buying photography equipment), too.

Recommended: 7 Tips to Managing Your Money Better

The Takeaway

If your credit score is 691, congratulations: You have good credit! You will likely qualify for a range of credit offers, such as a mortgage, personal loan, rewards credit cards, and more. Maintaining that score — or building it even higher — takes work and persistence. Given how much you stand to save on future loans, it’s well worth the effort.

If you’re leveraging your good credit score to access 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.