A 690 credit score sits in the middle range — not poor, not good
A 690 credit score is considered fair by most lenders. It falls above the range that triggers automatic rejection (usually 580 and below) but below the range where you get the best rates and terms (usually 740 and above). With a 690 score, you will likely be approved for credit, but you will pay more for it than someone with a higher score.
What this means in practice: you can get a mortgage, car loan, or credit card, but the interest rate will be higher. A mortgage lender might charge you 0.5% to 1% more in interest than they would charge someone with a 750 score. On a $300,000 loan, that difference adds up to tens of thousands of dollars over the life of the loan. For credit cards, you might be offered rates between 18% and 24% instead of the 12% to 16% available to borrowers with higher scores.
Landlords and rental companies also look at credit scores. A 690 may not disqualify you from renting, but it can mean a higher security deposit, a co-signer requirement, or a landlord choosing another applicant with a stronger score.
Key Takeaways
- A 690 credit score is fair, not poor — you will be approved for most credit products, but at higher interest rates than borrowers with scores above 740.
- On a mortgage or car loan, a 690 score typically costs you 0.5% to 1% more in annual interest, which compounds to thousands of dollars over time.
- Rental applications with a 690 score may require a larger security deposit, proof of income, or a co-signer, depending on the landlord's standards.
- Improving your score to 700 or above takes time but reduces the cost of borrowing and strengthens your position in competitive rental markets.
How lenders view a 690 score
Lenders use credit scores to estimate risk. A 690 score tells them you have some history of managing credit, but also some history of missed payments, high balances, or other red flags. You are not a high-risk borrower, but you are not a low-risk one either.
Different lenders set their own cutoffs. Some banks will approve a mortgage with a 680 score; others want 700. Credit card companies may offer you a card at 690, but with a lower credit limit and higher rate. Auto lenders are often more flexible — many will lend to borrowers at 650 or below, but again at a steeper cost.
The interest rate difference is real and measurable. If you are shopping for a mortgage, ask lenders for a rate quote at your actual score. You will see the difference between a 690 quote and a 740 quote in writing. That number is what the higher score is worth to you.
What a 690 score means for mortgages
Most conventional mortgage lenders require a minimum score of 620, so a 690 puts you in range. However, you will not get their best rates. A borrower with a 760 score might be offered 6.5% on a 30-year fixed mortgage; a borrower with a 690 might be offered 7.0% or 7.2%.
You will also face stricter requirements. Lenders may ask for a larger down payment (10% to 15% instead of 3% to 5%), proof of stable income for the past two years, and a lower debt-to-income ratio. If you have any recent late payments or collections, the lender may require an explanation letter.
FHA loans (backed by the Federal Housing Administration) are more flexible with credit scores and accept borrowers at 580 and above. However, FHA loans come with mortgage insurance premiums that add to your monthly payment, so the total cost may not be lower than a conventional loan at a higher rate.
What a 690 score means for credit cards and auto loans
Credit card issuers will likely approve you for a card at 690, but the terms will reflect the score. You might receive a card with a $3,000 to $5,000 limit (instead of $10,000 or higher) and an interest rate in the 18% to 22% range. Annual fees are also more common at this score level.
Auto lenders are generally more willing to work with a 690 score. Many subprime auto lenders (those who specialize in borrowers with lower scores) will approve you, but interest rates run 8% to 12% or higher, depending on the lender and the age of the vehicle. A new car loan at 690 might be 7% to 9%; a used car loan might be 10% to 14%.
The key difference between credit cards and auto loans is collateral. The car is collateral for the loan, so the lender has recourse if you stop paying. Credit cards are unsecured, so the lender charges more to offset the risk.
Renting with a 690 credit score
Landlords and property management companies use credit scores as one factor in rental decisions, though practices vary widely. Some landlords set a hard minimum of 650 or 700; others look at the whole application (income, references, rental history) and use the score as a tiebreaker.
A 690 score does not automatically disqualify you, but it may trigger additional requirements. The landlord might ask for a co-signer (usually a parent or spouse with a higher score), a larger security deposit (double or triple the usual amount), or proof that your monthly income is at least 3 times the rent. Some landlords will also run a background check or contact your previous landlords more thoroughly.
In competitive rental markets (cities with low vacancy rates), a 690 score can put you at a disadvantage. If multiple applicants are competing for the same apartment, the landlord will likely choose the one with the higher score, all else equal. In looser markets, your score matters less.
How to improve a 690 score
A 690 score is not permanent. The factors that make up your score — payment history (35%), amounts owed (30%), length of credit history (15%), credit mix (10%), and new credit inquiries (10%) — all change over time as you manage your accounts.
The fastest improvements usually come from reducing credit card balances. If you owe $8,000 across multiple cards with $10,000 in total limits, your utilization ratio is 80%. Paying that down to $3,000 (30% utilization) can raise your score by 20 to 50 points in a month or two. Payment history matters more but takes longer — a single late payment can stay on your report for seven years, though its impact fades after two or three years of on-time payments.
Do not close old credit cards or apply for new ones just to improve your score. Closing cards reduces your available credit and can raise your utilization ratio. New applications trigger hard inquiries, which lower your score slightly. Instead, focus on paying bills on time and reducing balances on existing accounts.
Frequently Asked Questions
Is 690 a good credit score or a bad one?
A 690 is neither — it is fair. You will be approved for most credit products, but at higher rates and with stricter terms than borrowers with scores above 740. Think of it as the middle of the road: not rejected, but not preferred.
How much more will I pay with a 690 score versus a 750 score?
On a $300,000 mortgage, the difference is typically $50 to $100 per month in interest, which adds up to $180,000 to $360,000 over 30 years. On a $25,000 car loan, the difference might be $30 to $50 per month. The exact amount depends on the lender, the loan term, and current interest rates.
Can I rent an apartment with a 690 credit score?
Yes, though the landlord may require additional proof of income, a co-signer, or a larger security deposit. Some landlords have a minimum score of 700 or higher, so you may be rejected by some properties. In competitive markets, you might lose out to applicants with higher scores.
How long does it take to improve a 690 score to 750?
It depends on what is holding your score down. If it is high credit card balances, paying them down can raise your score 20 to 50 points in one to three months. If it is late payments on your record, you are looking at six months to two years of on-time payments to see significant improvement.
Will paying off collections improve my 690 score?
Paying off a collection account stops it from getting worse, but it does not remove it from your report. The account will stay on your credit report for seven years from the original delinquency date. However, paid collections have less impact on your score than unpaid ones, so it is still worth paying if you can.