What Is a 695 Credit Score: Good or Bad?
Demystify the 695 credit score. Learn its significance for your financial standing and how it influences access to credit.
A credit score is a numerical representation of an individual’s creditworthiness. Creditors and lenders use this score as one factor when evaluating the likelihood of an applicant repaying debts on time. It influences decisions on credit applications, interest rates, and loan terms. Your credit score can affect eligibility for various financial products, including credit cards, auto loans, and mortgages.
Understanding Credit Score Ranges
Credit scores have different categories indicating varying levels of creditworthiness. The two primary scoring models are FICO and VantageScore, each with different breakdowns. For FICO scores, widely used by lenders, a “Good” credit score falls between 670 and 739.
VantageScore models consider a “Good” score to be between 661 and 780. A 695 credit score falls within the “Good” category for both FICO and VantageScore models. This position indicates a solid foundation of creditworthiness to lenders, acceptable for many financial products.
Key Factors Influencing Your Credit Score
Your credit score is calculated based on several components that reflect your credit management habits. Payment history is the most influential factor, accounting for 35% of a FICO score. Consistently making payments on time demonstrates reliability to lenders, while late payments or delinquencies can significantly harm your score.
Credit utilization, the ratio of credit used to available credit, makes up about 30% of your FICO score. Keeping this ratio low, below 30%, is favorable as higher utilization can signal increased risk to lenders. The length of your credit history accounts for about 15% of your FICO score. A longer history suggests more experience managing credit.
Credit mix, or the variety of credit types you manage, contributes around 10% to your FICO score. This includes a combination of installment loans, such as mortgages or auto loans, and revolving credit like credit cards. New credit, reflecting recent applications and newly opened accounts, also influences about 10% of your FICO score. While applying for new credit can cause a slight, temporary drop due to hard inquiries, this impact is minor and fades over time.
What a 695 Credit Score Means for Financial Products
A 695 credit score positions an individual to qualify for a range of financial products, though not always with the lowest interest rates. For credit cards, this score allows access to many standard rewards cards, but premium cards with extensive benefits or 0% introductory APR offers might require a higher score.
When seeking an auto loan, a 695 credit score leads to approval, and the terms offered are competitive. The average credit score for used car financing was 684 in the first quarter of 2025, indicating that a 695 score is well within the acceptable range for many lenders. For mortgages, a 695 score is sufficient for conventional loans, which have a minimum score requirement around 620. While approval is likely, interest rates may be slightly higher, or private mortgage insurance (PMI) costs could be more substantial compared to those with higher scores, as the most favorable rates are reserved for scores above 740.
Personal loans are accessible with a 695 credit score, as many lenders set minimum score requirements between 610 and 640. While terms are competitive, the absolute lowest interest rates may be offered to individuals with higher scores. A 695 score is also viewed favorably by landlords for rental applications and can contribute to better terms for insurance premiums.