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685 credit score: A guide to credit scores

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    Quick insights

    • A 685 credit score is considered to be “good” by both the VantageScore® and FICO® credit scoring models, as of May 2024.
    • While this score affords you some borrowing options and improved chances for approvals, you can always strive to improve your credit score.
    • You may be able to raise your score from good to “excellent” with consistent, healthy habits and equipping yourself with the knowledge you need to make the financial choices that are right for you.

    An explanation of your 685 credit score

    Credit scores are an important part of your financial journey, as they provide lenders with a snapshot of your creditworthiness, which can help them decide on approvals, credit limits, interest rates and more. It can also be an important factor when it comes to signing your next apartment lease or helping to solidify future job opportunities, if your potential employer runs a background credit check.

    To help you gain more context around what a 685 credit score means, let’s break down the credit score categories for the two main credit scoring models below.

    As of May 2024, VantageScore ranges are:

    • Excellent: 781 to 850
    • Good: 661 to 780
    • Fair: 601 to 660
    • Poor: 500 to 600
    • Very Poor: 300 to 499

    As of May 2024, FICO score ranges are:

    • Exceptional: 800+
    • Very Good: 740 to 799
    • Good: 670 to 739
    • Fair: 580 to 669
    • Poor: 579 and below

    As you can see, a 685 credit score falls within the good credit score range for both VantageScore and FICO score. But what does good really mean, and how can improving it help you? Let’s dive in below.

    Factors that influence credit scores

    The first step towards understanding what your credit score means is to learn about the factors that influence your score. These factors include, but are not limited to:

    • Payment history—your ability to pay your credit card balances and monthly loan installments on time.
    • Credit utilization ratio—the amount of credit you use against the total amount of credit available to you.
    • Length of credit history—your history of maintaining and managing credit.
    • Credit mix—the diversity of types of credit you have (for example, a personal loan and a credit card, not just one credit card).

    A 685 credit score is deemed a good score by many models, but there may be elements to your financial wellness that may need improvement. This does not necessarily mean you are “bad” at managing the above factors. It could mean you’re just starting out and needing to build up more of a credit history. It could also mean making some tweaks and adding in consistent healthy habits could help boost your credit score.

    Buying a car with a 685 credit score

    Buying a car may be possible with a 685 credit score, but different dealerships and lenders may use different credit scoring models and scales to make their own loan decisions, which could impact your loan terms and approval odds. Even with a “good” credit score, you may be declined, subject to higher interest rates or need to provide a larger down payment than if you had a higher credit score. To help improve your chances for approval, it is usually beneficial to add a co-signer to the loan—if the lender allows—to share financial responsibility. All applicants should take note that while important, your credit score is just one of several factors lenders take into account when approving a loan.

    Leasing an apartment with a 685 credit score

    Landlords sometimes use credit scores to assess the financial reliability of potential tenants before signing a lease agreement. A 685 credit score may indicate that you are lower risk to a potential landlord since you may be capable of paying your rent on time. You may also be able to improve your chances of application approval if you add a co-signer or provide a larger security deposit.

    Helping improve a 685 credit score

    If you’re interested in raising your credit score to the next level, there are a few steps you can take to help get you there. For example, you could:

    • Lower your credit utilization ratio to 30% or less.
    • Strive to pay off debts on time or at least pay more than the minimum monthly payment.
    • Avoid closing old credit card accounts to help maintain a strong credit history and good utilization ratio.
    • Consider enrolling in Chase Credit Journey®, a free online tool anyone can use to check their credit score and credit report provided by Experian™.

    In conclusion

    Whether you’re looking to improve your credit score or trying to better understand its implications and the opportunities it affords you, you’re in the right place. By doing your homework and equipping yourself with educational resources, you are already on your way towards building up your financial wellness, which can empower you to make the financial choices that are right for you and your credit ventures.

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