Is a 698 credit score good? loans, cards & rates explained

Yes, a 698 credit score is generally considered 'good' and puts you in the upper‑mid portion of most scoring models (often 670‑739). That means many lenders will view you as creditworthy for standard credit cards, auto loans, and personal loans, though you may not automatically qualify for the very lowest interest rates or premium rewards cards that reserve spots for scores in the high‑700s or above. Keep in mind that each issuer sets its own cutoff, so approval and pricing can still vary by product, lender policy, and factors such as income or debt‑to‑income ratio. Check the specific card or loan terms you're interested in to confirm that a 698 meets their criteria before applying.

A 698 score lands solidly in the 'good' band on the most common FICO scale, which defines good credit as 670 to 739 (some lenders call this 'near‑good' when they use slightly different bands). In VantageScore, which labels 660 to 779 as 'good,' 698 also falls comfortably within that range.

For context, scores below 580 are typically viewed as poor, 580 to 669 as fair, 670 to 739 as good, and 740 and above as very good to excellent. Because 698 sits above the fair cutoff but below the very‑good threshold, you'll generally qualify for mainstream credit cards and loans, though the interest rates and limits may not be as favorable as those offered to borrowers with scores in the 740+ tier.

A 698 credit score generally puts you in the 'good' range, so you may qualify for many mainstream credit products, though exact terms will still depend on your income, debt‑to‑income ratio, and each lender's underwriting rules.

• **Credit cards** - Most major issuers offer entry‑level rewards cards and some mid‑tier cards with modest annual fees; premium cards that require 'excellent' scores may be out of reach.
• **Auto loans** - You often qualify for standard new‑car financing with interest rates that are higher than the best‑rate tier but lower than subprime offers.
• **Personal loans** - Many online lenders and traditional banks will approve a personal loan, typically with rates above their lowest‑price brackets.
• **Mortgage financing** - A 698 score can meet the minimum requirement for conventional loans, though you may need a larger down payment or pay a slightly higher rate than borrowers with 720+ scores.
• **Student loan refinancing** - Some refinance programs accept scores in the high‑600s, allowing you to potentially lower your monthly payment if you have steady earnings.

Remember that each product's final terms will vary by issuer and your overall financial profile, so always compare offers and read the fine print before committing.

A 698 credit score is strong enough to qualify for many mainstream credit cards, though the very premium rewards or the lowest‑interest offers usually require a higher score and will also look closely at your recent payment history, utilization, and overall account mix.

• **Cash‑back cards** such as the Capital One Quicksilver or Discover It Cash Back are commonly approved for scores in the high‑600s and provide a flat‑rate return on purchases with no annual fee.
• **General rewards cards** like the Chase Freedom Flex or Citi ® Double Cash often accept applicants around 700, offering rotating bonus categories or a simple cash‑back structure while still charging modest fees.
• **Secured credit cards** (e.g., Discover Secured) are guaranteed approval if you provide a refundable security deposit; they're useful for building or repairing credit even when other cards decline.
• **Student or 'starter' cards** (such as Bank of America® Travel Rewards for students) usually have lower score thresholds and can work well if you're early in your credit journey but already sit at 698.
• **Store‑specific cards** (e.g., Amazon Prime Rewards Visa) may approve you based on a solid 600‑plus score, especially if you have existing relationships with the retailer.

When you apply, double‑check each issuer's current underwriting criteria - especially recent utilization rates and any recent delinquencies - as those factors can tip the decision one way or the other.

*Always read the full cardmember agreement before accepting any offer.*

A 698 credit score usually lands you in the mid‑range APR band for most personal loans, auto loans, and small‑balance mortgages - better than sub‑prime offers but often a few percentage points above the best‑rate tier reserved for scores 720 +. Expect lenders to quote interest rates that can vary roughly from low‑mid % to high‑mid %, depending on the loan type, your debt‑to‑income ratio, and current market conditions.

Because the rate you receive is still negotiable, shop around and compare rate quotes that include any fees or points before you decide. Verify the disclosed APR on the loan estimate, ask whether a fixed or variable rate applies, and confirm any promotional periods. Doing this homework can keep your financing costs competitive even if you're not yet in the top‑tier credit bucket.

A 698 score often lands you above the sub‑prime and many near‑prime borrowers, so you'll usually qualify for better terms than those with scores in the high‑500s. However, it's still short of the 'excellent' tier that unlocks the lowest rates and most premium cards.

Because 698 sits comfortably in the 'good' range for most scoring models, lenders typically view you as a lower‑risk borrower compared with the national average (which hovers around the mid‑600s). That can translate into higher credit‑limit offers, approval for a broader set of personal loans, and access to rewards cards that require at least a mid‑600 score. At the same time, issuers reserve their best‑interest rates and elite rewards programs for scores of 720 plus, so you may still see slightly higher APRs or fewer ultra‑exclusive card perks than someone with an excellent score.

(Always verify the specific score requirements and rate tables of each lender before applying.)

With a 698 score you'll often get approved, but lenders can still dig deeper on other risk flags. Typical concerns they may flag include:

• **Recent late or missed payments** - even a single 30‑day delinquency in the last 12‑months can raise eyebrows and lead to higher rates.
• **High credit‑card utilization** - balances above 30 % of your total limits suggest you're leaning on credit, which may shrink your borrowing power.
• **Short credit history** - if you've only had credit for a few years, the lack of long‑term data can make lenders cautious.
• **Thin or sparse file** - having only one or two accounts (e.g., a single card and an auto loan) provides limited insight into how you manage debt.
• **Recent hard inquiries** - multiple applications in a short span can signal financial stress and may prompt tighter terms.

If any of these appear on your report, expect the lender to request additional documentation, offer a higher APR, or require a larger down payment. Double‑check your credit report for these items and address them before applying.

*Always verify the specific criteria each lender uses, as policies can differ by issuer and state.*

Boosting a 698 score to the low‑740 range isn't instant, but focusing on three high‑impact areas can shave enough points to get you there in a few months if you stay disciplined.

1. Lower credit utilization - Bring the balances on revolving accounts down to 30 % or less of each limit, and aim for under 10 % for the biggest gain. A quick way is to pay more than the minimum this month or request a temporary limit increase (without a hard pull).
2. Solidify payment history - Make every bill hit on time for at least the next six billing cycles. If you have a small missed payment lingering, consider reaching out to the creditor to see if they'll remove it as a goodwill gesture; success varies by lender.
3. Pause new credit applications - Each hard inquiry chips a few points off and can stay on your report for two years. Hold off on shopping for new cards or loans until after you've lifted your utilization and built a streak of on‑time payments.
4. Check for errors - Pull your free annual credit report and dispute any inaccurate late marks or incorrect balances. Corrections can boost scores quickly once they're resolved.
5. Add positive credit - If you have limited accounts, becoming an authorized user on a family member's well‑managed card can add length of history and low utilization to your file, provided the primary keeps their usage low and pays in full each month.

Stay consistent with these steps; most scores move upward gradually rather than jumping overnight.

At a 698 score, the three moves that will shift your credit the most are lowering utilization, polishing payment history, and diversifying your credit mix.

• Trim your revolving balances - Aim for under 30 % utilization on each card and on total credit; paying down high balances instantly improves the score component that carries the most weight.
• Never miss a payment - Set up automatic or calendar reminders so every installment, loan, or bill lands on time; a clean payment record steadies the biggest factor in your credit profile.
• Add a positive account type - If you only have revolving debt, consider a small, secured credit card or a credit‑builder loan and use it responsibly; a broader mix can boost the 'credit composition' element without adding risk.

(Always verify any new product's fees and terms in the cardholder agreement before opening.)

A 698 score generally clears the door for most standard credit cards and qualified‑interest loans, but it often falls short of unlocking premium‑rate products or elite rewards cards.

If your goal is a basic unsecured credit card, a personal loan under $10,000, or an auto loan with a mid‑tier APR, lenders see 698 as 'good enough.' These products usually have flexible underwriting criteria and will approve you as long as your income, debt‑to‑income ratio, and recent payment history are solid.

Conversely, if you're targeting a low‑interest mortgage refinance, a high‑limit rewards card, or any offer that advertises 'excellent' rates, 698 may not meet the threshold. Many premium issuers require scores in the 720+ range to qualify for the best terms, so you could face higher APRs or be denied outright despite an otherwise healthy credit profile.

When 698 is enough

• Basic cashback or travel cards with modest rewards
• Personal loans up to $10,000 at average market rates
• Standard auto loans with typical interest spreads

When 698 isn't enough

• Premium travel cards promising elite perks and low APRs
• Mortgage refinancing seeking the lowest possible rate
• High‑limit credit lines (e.g., $15k+) where issuers prefer 'excellent' scores

Check each product's specific credit‑score guidelines before applying; many lenders list a minimum score range in their FAQs or pre‑qualification tools. If you need a premium rate now, consider boosting your score toward the 720 - 740 zone before submitting an application.

*Always verify the terms on the lender's official site or disclosure documents before committing.*