Credit scores play a crucial role in your financial life, influencing everything from loan approvals to interest rates. If you’re wondering, “Is 685 a good credit score?” you’ve come to the right place. This article will dive deep into what a 685 credit score means, how it affects your financial options, and what you can do to leverage or improve it.
Skale Money Key Takeaways:
- A 685 credit score is considered “good” by most lenders
- This score opens doors to many financial products, but not always at the best rates
- You can likely qualify for credit cards, auto loans, and mortgages with a 685 score
- Improving your score further can lead to better terms and more options
Table of Contents
What Does a 685 Credit Score Mean?
A 685 credit score falls within the “good” range on the FICO score scale. This means you’re above average in terms of creditworthiness, but there’s still room for improvement.
- 300-579: Poor
- 580-669: Fair
- 670-739: Good
- 740-799: Very Good
- 800-850: Excellent
Table: 685 Credit Score Comparison
| Score Range | Rating | Where 685 Stands |
| 300-579 | Poor | Well above |
| 580-669 | Fair | Above |
| 670-739 | Good | Within range |
| 740-799 | Very Good | Below |
| 800-850 | Excellent | Well below |
Tips for understanding your credit score:
- Regularly check your credit report for accuracy
- Understand that different scoring models may yield slightly different results
- Remember that a 685 score indicates responsible credit use, but there’s potential for improvement
Factors That Influence Your 685 Credit Score
Your 685 credit score is determined by several key factors, each carrying different weight in the calculation.
- Payment history (35%)
- Credit utilization (30%)
- Length of credit history (15%)
- Credit mix (10%)
- New credit inquiries (10%)
Table: Impact of Factors on Your 685 Credit Score
| Factor | Percentage Impact | Likely Influence on 685 Score |
| Payment History | 35% | Generally positive |
| Credit Utilization | 30% | Moderate to good |
| Length of Credit History | 15% | Moderately established |
| Credit Mix | 10% | Decent variety |
| New Credit Inquiries | 10% | Few recent inquiries |
Tips for maintaining or improving your score:
- Always make payments on time
- Keep credit utilization below 30%
- Avoid opening too many new accounts at once
What Can You Get with a 685 Credit Score?
With a 685 credit score, you’re in a good position to qualify for various financial products, though you may not always get the best rates.
- Credit cards (including some rewards cards)
- Auto loans
- Mortgages (conventional and FHA)
- Personal loans
Table: Approval Odds with a 685 Credit Score
| Financial Product | Approval Likelihood |
| Basic Credit Card | High |
| Rewards Credit Card | Moderate to High |
| Auto Loan | High |
| Mortgage | Moderate to High |
| Personal Loan | Moderate to High |
Tips for leveraging your 685 credit score:
- Shop around to compare offers from different lenders
- Consider improving your score before applying for major loans
- Don’t be afraid to negotiate terms based on your good credit standing
Can I Get a Credit Card with a 685 Credit Score?
Yes, a 685 credit score should qualify you for a variety of credit cards, including some with rewards programs.
- Cashback cards
- Travel rewards cards
- Low-interest cards
- Balance transfer cards
Table: Credit Card Options for 685 Credit Score
| Card Type | Likelihood of Approval | Potential APR Range |
| Basic | High | 15-25% |
| Cashback | Moderate to High | 17-26% |
| Travel Rewards | Moderate | 18-27% |
| Low Interest | Moderate | 13-22% |
Tips for choosing and applying for credit cards:
- Compare annual fees, APRs, and rewards structures
- Look for pre-qualification options to avoid hard inquiries
- Consider your spending habits when choosing a rewards card
Can I Get an Auto Loan with a 685 Credit Score?
A 685 credit score should allow you to qualify for most auto loans, though you may not get the absolute best rates.
- New car loans
- Used car loans
- Dealer financing
- Credit union auto loans
Table: Average Auto Loan Rates for 685 Credit Score
| Loan Type | Average APR | Typical Loan Term |
| New Car | 5-7% | 60-72 months |
| Used Car | 6-8% | 48-60 months |
Tips for getting the best auto loan deal:
- Get pre-approved before visiting the dealership
- Compare offers from multiple lenders
- Consider making a larger down payment to secure better terms
Can I Get a Mortgage with a 685 Credit Score?
With a 685 credit score, you should be able to qualify for most mortgage types, including conventional and FHA loans.
- Conventional mortgages
- FHA loans
- VA loans (if you’re eligible)
- USDA loans (for rural properties)
Table: Mortgage Options for 685 Credit Score
| Mortgage Type | Minimum Score | Typical Down Payment |
| Conventional | 620 | 3-20% |
| FHA | 580 | 3.5% |
| VA | No minimum | 0% |
| USDA | 640 | 0% |
Tips for improving mortgage approval odds:
- Save for a larger down payment
- Reduce existing debt to improve your debt-to-income ratio
- Consider an FHA loan if you’re a first-time homebuyer
Can I Get a Personal Loan with a 685 Credit Score?
A 685 credit score should allow you to qualify for personal loans from various lenders.
- Bank personal loans
- Credit union personal loans
- Online lender personal loans
- Peer-to-peer lending platforms
Table: Personal Loan Offers for 685 Credit Score
| Lender Type | Typical APR Range | Usual Loan Amounts |
| Banks | 8-15% | $5,000-$50,000 |
| Credit Unions | 7-13% | $1,000-$30,000 |
| Online Lenders | 6-36% | $1,000-$100,000 |
Tips for securing a favorable personal loan:
- Compare APRs and terms from multiple lenders
- Check for any origination fees or prepayment penalties
- Consider a secured loan for potentially lower rates
How to Improve Your 685 Credit Score
While a 685 credit score is good, improving it can lead to better financial opportunities. Your next target should be a credit score above 685 such like the 759 credit score.
- Pay all bills on time
- Reduce credit utilization
- Avoid applying for new credit frequently
- Keep old accounts open to maintain credit history length
Table: Timeline for Potential Score Improvements
| Action | Potential Impact | Estimated Time Frame |
| Pay down credit card balances | +20-30 points | 1-3 months |
| Resolve any collections | +50-100 points | 3-6 months |
| Maintain perfect payment history | +20-50 points | 6-12 months |
Tips for long-term credit management:
- Set up automatic payments to avoid late fees
- Regularly review your credit report for errors
- Be patient – significant improvements take time
Conclusion
A 685 credit score is indeed a good credit score, placing you in a favorable position with most lenders. While it opens doors to various financial products, there’s still room for improvement. By understanding what influences your score and following the tips provided, you can work towards an even better credit score, potentially unlocking more favorable terms and financial opportunities in the future.
FAQ:
Is 685 considered a good credit score?
Yes, a 685 credit score is considered “good” and is above average.
How long does it take to improve a 685 credit score?
Significant improvements can take 3-12 months, depending on your actions and current credit profile.
What’s the difference between a 685 FICO score and a 685 VantageScore?
While both are considered good, they may be interpreted slightly differently by lenders due to variations in scoring models.
Can I get a rewards credit card with a 685 credit score?
Yes, you should qualify for some rewards credit cards with a 685 score.
How does a 685 credit score affect my insurance rates?
A 685 score may help you qualify for better than average insurance rates, but the best rates typically go to those with very good or excellent scores.
