By CreditNinja Reviewed by Matt Mayerle
Modified on April 1, 2024

A 690 credit score is considered a good credit score. With this credit rating, lenders will see you as a low credit risk. This can be a huge advantage when looking to borrow money!

The average credit score, which was 717 as of October 2023, falls within the good credit score range.¹

Your credit impacts several aspects of your finances and life; like getting approval for loans and credit cards.

Key Takeaways for a 690 Credit Score

Overview of Your
Credit Rating

A 690 score is considered a good credit score. However, it is at the lower end of this range.

Borrowing Options With a
690 Credit Score

With a good score, you’ll likely have access to many short-term and long-term borrowing options.

Maintaining a 690
Credit/FICO Score

Pay all of your monthly bills on time and work on paying down any existing debt. You can also sign up for a secured credit card or credit builder loan to start building a better credit score.

Is a 690 Credit Score Good?

A 690 score is indeed a good score; with this credit score, you can expect good deals on financing and an array of borrowing options available. A 690 credit score is right at the edge of fair and good credit, and so even a small dip in credit can mean falling into a fair credit rating.

What Can You Get Approved for With a 690 Credit Score?

With a good score, you can look forward to lots of financing options as long as you meet the other requirements, which usually involve income. 

Here is more information on commonly used loan options:

Personal Loans

Personal loans are usually unsecured loans that are repaid in steady monthly payments. These loans can be used for all kinds of expenses; most people use them for home repairs, car repairs, monthly bill payments, and more. 

Bank Loans

Bank loans are any banks that come a bank. There are all kinds of bank loans that borrowers can look into, some of them short-term or long-term, some secured loans, and others unsecured loans. The way you can use a bank loan may vary depending on the loan type. For example, a student loan from a bank may only be used for expenses like tuition. Or a mortgage can only be used for the purchase of a home.

Credit Cards

Credit cards are widely used for emergency expenses; if you already have one, you won’t have to go through the application process with them. On the other hand, a lot of times, credit card spending can get out of hand quickly. And so, while credit cards can be convenient, they also can trigger unnecessary spending. Here are some credit cards for a 690 credit score:

  • Citi Double Cash® Card
  • Citi Custom Cash® Card
  • Upgrade Cash Rewards Visa®
  • Capital One SavorOne Student Cash Rewards Credit Card
  • Capital One Spark Classic for Business

Car Loans

Car loans help people finance the purchase of a used or new car. The funds from this kind of loan can only be used for a car purchase. These loans are usually installment loans, which means they are repaid in steady monthly payments until the loan is repaid in full. Generally, car loans range between five to six years.

Products To Help Maintain a 690 Credit Score

Maintaining good credit is important, and when you have a 690 score, even the smallest mistake could drop your score into the fair category. Here are some tips to help maintain your score: 

Automatic Payments 

The most significant factor that impacts your credit scores/FICO scores is your payment history on your credit accounts. And so, one of the most important things you can do to maintain your credit is to pay your bills on time. Automatic payments can be a great way to set this up and have bill payments go through directly from a bank account. 

Debt Management

Debt can quickly get out of hand, and when that happens, it can really hurt your credit scores. A debt management plan can be a great tool, especially when it’s implemented before debt becomes excessive. 

A debt management plan can be as simple as a budget—specifically, the part that tracks debt amount and payments. Or it can be something like debt consolidation through a debt consolidation loan or balance transfer credit card. 

Credit Score Simulator

A score simulator can definitely be a helpful tool when trying to stay in the good credit range! With these tools you can check whether an action will hurt your credit before you go through with it. 

However one thing to keep in mind is that these provide estimates, and so may not be completely accurate. But they do a fairly good job of letting you know whether there will be a negative or positive impact. 

Benefits of a 690 Credit Score

There are plenty of benefits that borrowers could forward to with good credit:

Lower APRs When Borrowing Funds 

The better your credit, the lower APRs and interest rates will be for loan offers and credit cards. This can be a huge advantage for costs when borrowing funds. Most people don’t want to have to rely on a loan, but when you do find yourself in that situation and have good credit, you’ll be getting a good deal.

Easier Time Acquiring Assets 

Most big-ticket assets are acquired with financing, think boats, homes, cars, property, businesses, etc. When you have good credit scores and a positive credit history, you’ll have an easier time getting approval when financing the purchase of assets. And it will cost you less than someone with fair or poor credit. 

More Loan Options to Choose From 

With good credit, you’ll have more loan options to choose from! This can be a huge benefit as it can help with personalization. And the better fit a loan is, the chances are the easier time you’ll have with repayment. 

Easier Time With the Home Process

Whether you are looking for a rental or looking to purchase a home, higher credit scores tend to get past the application process faster and easier than fair or bad credit scores. And so your credit history and average credit score can mean the difference between getting your dream home or not!

How To Maintain Your 690 Credit Score

Now that you have some tools to maintain your credit and know the benefits, we’ll dive into the details of the specific actions you can take or avoid to keep your score in the good range and potentially even approve it:

Avoid Late or Missed Payments

This is huge—try and avoid late or missed payments as much as possible to maintain your 690 score! 

Keep Your Credit Utilization Low 

Your credit utilization has a huge impact on your credit, no matter what credit scoring model you look at. To keep this ratio low, you’ll want to keep credit accounts open and keep debt low. 

Avoid Bad Debt 

Bad debt can be considered any debt that doesn’t serve a helpful purpose. For example, credit cards are often considered bad debt because most people just use them for unnecessary spending. While loan options like a mortgage or student loan are considered good debt because one helps you build wealth, and the other helps you get an education. Be mindful of the types of accounts that go on your credit reports.

Avoid Cosigning or Co-borrowing

When you have good or excellent credit, you may be asked to cosign or co-borrow for a friend or family member. However, this may not be the best move for your credit scores. Every action the other party takes will also reflect on your credit scores and each credit report, including any negative actions like late payments.

FAQs About 690 Credit Scores

Credit reports from the three bureaus (Equifax, Experian, and TransUnion) play a crucial role in determining your average score. Each bureau may have slightly different information about your credit history, which can lead to variations in your score across bureaus. Regularly reviewing your credit reports can help you ensure accuracy and identify areas for improvement to boost your average score.

Having multiple credit accounts can positively impact your credit score if managed responsibly. This is because it shows lenders that you can handle various types of credit, such as revolving (credit cards) and installment loans (auto loans, personal loans). However, it’s important to maintain low balances and make timely payments, as this information is reflected on your credit reports and influences your score.

Credit score ranges categorize scores into different levels of creditworthiness, from poor to excellent. An average credit score typically falls within the “good” range, indicating to lenders that you are a relatively low-risk borrower. Understanding where your score fits within these ranges can help you gauge your loan eligibility and potential interest rates.

A credit builder loan is designed for individuals with low or no credit history to improve their scores. By making regular, on-time payments towards the loan, borrowers can demonstrate financial responsibility. These positive payment activities are reported to the three major credit bureaus, contributing to an improvement in credit score ranges over time.

Requesting a higher credit limit can have a temporary impact on your credit score, as it may involve a hard inquiry from the lender. However, if approved, a higher credit limit can lower your overall credit utilization ratio—a key factor in credit scoring. This change is reflected in your credit reports and, if managed well (by not significantly increasing your debt), can lead to a positive effect on your score. Remember, the higher your score, the more favorable terms you may receive on future credit products.

What Interest Rate Can I Get With a 690 Credit Score?

A 690 loan will mean interest rates are in the good range for most loans. However, it will be hard to get into specifics because Interest on a loan will vary quite a bit depending on a few factors:

Factor Influencing Interest Rate


The loan type

Different types of loans (e.g., mortgage, personal, auto) often have different interest rates.

The lender

Interest rates can vary from one lender to another, even for the same type of loan.

Your credit history

Your score and credit history can significantly impact the interest rate you’re offered. Lenders use this information to assess risk.

Can I Buy a House With a 690 Credit Score? 

A 690 credit score should be okay when it comes to credit eligibility for a mortgage. However, you’ll get much better interest rates if you improve your score. If you can get to the excellent tier, it could mean a lot of savings with your mortgage. 

This is one reason that many people spend months or even years improving their credit as much as possible before going into the mortgage process. Another thing to keep in mind is that credit scores are just one part of a mortgage application; there are many other factors that go into play for approval. 

Top 5 Resources for a 690 Credit Score

Related Credit Scores

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  1. 690 Credit Score: Is It Good or Bad? How to Build Higher | NerdWallet
  2. Best Credit Cards for a 690 Credit Score 2024 | WalletHub