680 Credit Score: Is it good or bad? Tips to improve your score (2024)

FAQs

680 Credit Score: Is it good or bad? Tips to improve your score? ›

Quick insights. A 680 credit score is considered a “good” credit score by most credit scoring models. A good credit score may come with many benefits, including lower annual percentage rates (APRs). With consistency, time and patience, you can improve your score to scale to the next tier of credit scores.

A FICO^® Score of 680 provides access to a broad array of loans and credit card products, but increasing your score can increase your odds of approval for an even greater number, at more affordable lending terms.

A 680 credit score is considered “good” and opens doors to some of the best mortgage options available. Conventional loans become highly attractive with competitive rates and terms. While still available, government-backed loans like FHA may be less advantageous compared to conventional options.

Your credit score helps lenders decide if you qualify for products like credit cards and loans, and your interest rate. A score of 750 puts you in a strong position. Roughly 48% of Americans had a score of 750 or above as of April 2023, according to credit scoring company FICO. FICO Blog.

And when it comes to credit, 850 is the highest the FICO^® Score^☉ scale goes. For more and more U.S. consumers, practice is making perfect. According to recent Experian data, 1.54% of consumers have a "perfect" FICO^® Score of 850.

Credit Score

For a $300,000 home, you'll likely need a good credit score: 740+: Best rates and terms. 700-739: Slightly higher rates. 660-699: Higher rates, may require larger down payment.

For a $400,000 home, you'll likely need a good to excellent credit score: 740+: Best rates and terms. 700-739: Slightly higher rates.

How long does it take to build a 680 credit score? ›

For instance, going from a poor credit score of around 500 to a fair credit score (in the 580-669 range) takes around 12 to 18 months of responsible credit use. Once you've made it to the good credit zone (670-739), don't expect your credit to continue rising as steadily.

Make Your Payments on Time

Late or missed payments can cause your credit score to decline. The impact can vary depending on your credit score — the higher your score, the more likely you are to see a steep drop.

If you're close to maxing out your credit cards, your credit score could jump 10 points or more when you pay off credit card balances completely. If you haven't used most of your available credit, you might only gain a few points when you pay off credit card debt. Yes, even if you pay off the cards entirely.

The average credit score in the United States is 705, based on VantageScore^® data from March 2024. It's a myth that you only have one credit score. In fact, you have many credit scores, because there are many different types of credit scores and scoring models. It's a good idea to check your credit scores regularly.

In general, you'll need a FICO credit score of at least 600 to qualify for a traditional auto loan.

A 700 FICO^® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.

The Bottom Line

Though lenders will each have their own qualification requirements when it comes to credit scores, you could get approved for a line of credit if you have a score of 660. However, your chances of approval (and getting better interest rates) increase if your score is closer to 713 and above.

The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable-rate mortgages (ARMs).