Is a 673 Credit Score Good? What to Expect
Unpack your 673 credit score. Understand its position, borrowing potential, and the key elements that shape your financial standing.
A credit score serves as a numerical representation of an individual’s creditworthiness, summarizing their financial behavior over time. This three-digit number plays a significant role in various aspects of financial life, influencing decisions made by lenders, landlords, and even insurance providers. Understanding one’s credit score is important because it directly impacts the ability to secure loans and finance large purchases. A credit score acts as a snapshot of financial reliability, providing institutions with a quick assessment of risk when extending credit or services.
Where 673 Stands
Credit scores are determined by two models: FICO and VantageScore. Both models range from 300 to 850, with higher scores indicating lower credit risk. A 673 credit score falls into the “Good” category under the FICO scoring model, which defines “Good” as scores between 670 and 739. This places a 673 score above the “Fair” range (580 to 669 for FICO).
For the VantageScore model, a 673 credit score is usually considered within the “Good” range, spanning from 661 to 780. A 673 score indicates a reasonable level of credit management. It is not considered “Excellent” (781-850 for VantageScore or 800+ for FICO) or “Very Good” (740-799 for FICO), but it is a viable score for accessing many credit products.
Implications for Borrowing
A 673 credit score provides access to a broad array of credit products, though the terms offered may not be the most favorable available. When seeking a credit card, individuals with a 673 score can expect approval for most unsecured credit cards, but some premium cards requiring higher scores may remain out of reach. While approved, the interest rates on these cards might be slightly higher than those offered to applicants with exceptional credit histories.
For auto loans, a 673 credit score typically falls within the “Good” or “Prime” borrower category, allowing for competitive, but not the lowest, interest rates. In the first quarter of 2025, average new car loan interest rates for borrowers in the 661-780 (Prime) VantageScore range were around 6.70%, while used car rates were approximately 9.06%. Borrowers with scores in the “Fair” category (601-660) faced higher rates, such as 9.83% for new cars and 13.74% for used cars, illustrating the benefit of a 673 score. Lenders may still require a larger down payment or a co-signer for higher loan amounts.
Securing a personal loan with a 673 credit score is generally feasible, as most personal loan lenders will approve applicants in this range. However, the interest rates on these loans will likely be higher than those extended to borrowers with “Very Good” or “Excellent” credit scores. For mortgages, a 673 score is often sufficient for loan approval, but it might not qualify for the absolute best interest rates. Lenders assess risk based on various factors, and while a 673 score is acceptable, a higher score typically translates to lower monthly payments over the life of a long-term loan.
Components of Your Score
Credit scores are calculated based on several categories of financial information, each contributing differently to the overall score. Payment history is typically the most influential factor, accounting for approximately 35% of a FICO Score and around 40% of a VantageScore. This component reflects whether bills and loan payments are made on time, with consistent on-time payments positively impacting the score.
Credit utilization, which is the amount of revolving credit currently used compared to the total available credit, is another significant factor. For FICO Scores, it makes up about 30% of the score, while for VantageScore, it accounts for around 20% to 30%. A lower utilization ratio, generally below 30% of the available credit limit, is viewed favorably by scoring models.
The length of credit history also plays a role, representing approximately 15% of a FICO Score and around 20% to 21% of a VantageScore. This factor considers the age of the oldest account, the age of the newest account, and the average age of all accounts. A longer history of responsible credit management tends to result in a higher score.
New credit inquiries and recently opened accounts collectively influence about 10% of a FICO Score. Each time an individual applies for new credit, a hard inquiry is recorded on their credit report, which can lower the score. The credit mix, reflecting the diversity of credit accounts such as installment loans (e.g., mortgages, auto loans) and revolving credit (e.g., credit cards), usually accounts for another 10% of a FICO Score. Demonstrating the ability to manage different types of credit responsibly can contribute positively to the score.