Who Has a 685 Credit Score?

While age isn't a direct factor in calculating your credit score, there is a clear trend of scores improving over time. Here's how average FICO scores break down by generation, according to 2023 data:

• Generation Z (ages 18-26): 680
• Millennials (ages 27-42): 690
• Generation X (ages 43-58): 709
• Baby Boomers (ages 59-77): 745
• Silent Generation (ages 78+): 760

Credit Cards With a 685 Credit Score

A credit score of 685 places you squarely in the 'fair' to 'good' credit range, which is a decent position to be in when applying for a new credit card. While you'll likely qualify for a variety of cards, you may not have access to the most exclusive, premium options reserved for those with excellent credit. Consequently, the terms you're offered, such as interest rates and credit limits, might be less favorable than those extended to applicants with higher scores.

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Kudos offers an AI-powered Explore Tool that personalizes recommendations by asking what you're looking for in a card, whether it's low interest rates, balance transfers, or maximizing rewards. For even more tailored suggestions, the Dream Wallet feature analyzes your actual spending habits to match you with the card that best fits your financial situation.

Auto Loans and a 685 Credit Score

A 685 credit score is considered 'prime,' which means you'll likely be approved for an auto loan. However, you won't receive the most competitive interest rates, as those are reserved for borrowers in the 'super-prime' category.

• Super-prime (781-850): 5.25% for new cars and 7.13% for used cars.
• Prime (661-780): 6.87% for new cars and 9.36% for used cars.
• Non-prime (601-660): 9.83% for new cars and 13.92% for used cars.
• Subprime (501-600): 13.18% for new cars and 18.86% for used cars.
• Deep subprime (300-500): 15.77% for new cars and 21.55% for used cars.

Mortgages at a 685 Credit Score

With a 685 credit score, you are in a good position to qualify for several types of home loans. This score is above the minimum requirements for most conventional, FHA, VA, and USDA loans. While you have broad access to these options, you may find it difficult to secure a jumbo loan, as lenders typically require a score of 700 or higher for mortgages that exceed conforming loan limits.

However, your 685 score will affect your loan terms. You will not receive the most favorable interest rates or the lowest private mortgage insurance (PMI) premiums, which are reserved for borrowers with excellent credit scores of 740 or more. Improving your score before you apply could result in significant savings over the life of your loan.

What's in a Credit Score?

Understanding your credit score can feel like trying to solve a complex puzzle, as it's a blend of several key financial habits. The most common factors that determine your score include:

• Your payment history tracks whether you have paid past credit accounts on time.
• Credit utilization is the percentage of your available credit that you are currently using.
• The length of your credit history considers the age of your oldest account and the average age of all your accounts.
• Credit mix refers to the variety of credit products you have, such as credit cards, retail accounts, and loans.
• New credit inquiries and recently opened accounts can also temporarily impact your score.

How to Improve Your 685 Credit Score

While a 685 credit score is considered good, there is always room for improvement, and with consistent effort, you can boost your score to improve your financial health. Taking a few proven steps can help you see meaningful changes in as little as three to six months.

• Monitor your credit reports. Regularly checking your reports from the major bureaus allows you to spot and dispute any inaccuracies that could be unfairly dragging your score down. This also helps you track your progress and detect any signs of identity theft early on.
• Set up automatic bill payments. Your payment history is the single most important factor in your credit score, so ensuring every bill is paid on time is crucial. Automating payments guarantees you never miss a due date, which is a foundational step to building a stronger credit profile.
• Lower your credit utilization ratio. Lenders like to see a ratio below 30%, and lowering yours can significantly improve your score. You can achieve this by paying down existing balances or requesting a credit limit increase on your current cards.
• Diversify your credit mix. Lenders want to see that you can responsibly manage different types of credit, such as revolving credit and installment loans. Adding a different type of account to your profile shows financial maturity and can positively impact the 10% of your score determined by credit mix.

Using a smart wallet like Kudos can help you maximize your credit card rewards while you work on improving your score.