Is 713 a Good Credit Score?

By Jason Steele

(Last Updated – 07/2024)

A 713 credit score is considered to be “good” credit, and should give you access to a wide array of loans and credit cards. However, your score isn’t as good as it could be, and falls below the “very good” and “exceptional” credit tiers. As a result, you may not receive the lowest available annual percentage rates (APRs) or a lender’s most favorable terms.

Let’s take a closer look at what a 713 credit score means, and what kind of credit cards, auto loans, personal loans, and mortgages you can get with this score.

What Does a 713 Credit Score Mean?

A credit score is a three-digit number, typically ranging between 300 and 850, meant to predict how likely someone is to repay a loan on time. Your credit scores (yes, you have more than one) are calculated based on account and payment information in your credit reports. You have three credit reports, one from each of the major credit bureaus (Equifax, Experian, and TransUnion).

There are two major credit score providers, FICO^® and VantageScore^®. Using the FICO scoring model, which is the one most commonly used, a 713 credit score falls into the “good” range (670 to 739), but below the “very good” (740 to 799) and “exceptional” (800+) tiers. With VantageScore, a 713 credit score also lands in the “good” range (661 to 780), below the “excellent” tier (781 to 850).

A 713 score can mean that you are newer to credit or that you’ve been using credit for a while but have made a few mistakes along the way, such as the occasional late payment or using a large amount of your available credit. Nevertheless, your 713 credit score is close to the average credit score in the U.S., which is 717. Having “good” and not “fair” or “poor” credit also signals to lenders that you are an acceptable borrower and relatively low risk.

Recommended: FICO Score vs Credit Score

What Can You Get with a 713 Credit Score?

With a 713 credit score, you are likely to have access to a variety of lending products, including credit cards, auto loans, personal loans, and home mortgages. Here’s a breakdown of what you may be able to qualify for with a 713 score.

Can I Get a Credit Card with a 713 Credit Score?

Your credit score plays a big role in whether or not you can get approved when applying for a new credit card. It also determines the credit limit, interest rate, and perks the card issuer will offer you. Generally, higher scores will qualify you for larger limits, better rewards programs, and lower interest rates.

With a 713 credit score, you shouldn’t have difficulty getting approved for a credit card, including cards with no annual fees and those that offer some cash back or travel rewards. You’ll also likely qualify for most store credit cards, which can only be used at that particular store or chain of stores.

That said, a 713 score likely isn’t going to be high enough to qualify for premium travel rewards cards that offer generous perks, sign-up bonuses, and lower interest rates, or the best 0% APR offers. These more exclusive credit cards typically require borrowers to have a score between 720 and 850.

Can I Get an Auto Loan with a 713 Credit Score?

You should be able to get approved for most auto loans with a 713 credit score. About 69% of vehicle financing is for borrowers with credit scores of 661 or higher, according to Experian.

The car loans with the lowest interest rates and most favorable terms, however, are generally reserved for borrowers who have “very good” or “exceptional” credit. For example, borrowers with credit scores between 781 to 850 pay, on average, 5.38% APR for a new car loan; those with scores between 661 to 780 pay, on average, 6.89% APR for a new car loan.

Whether you get approved for an auto loan and what rate you’ll be offered will also depend on how much money you put down on the car and how much you’re looking to borrow.

Can I Get a Mortgage with a 713 Credit Score?

You can likely get a mortgage loan with a 713 credit score, including a conventional mortgage (the most commonly used mortgage loans) and a jumbo loan (which carries higher amounts than conventional loans). However, you probably won’t qualify for a mortgage lender’s best rate. Instead, you’ll likely pay an interest rate in line with national averages.

Whether you qualify for a mortgage and at what interest rate, however, will depend on more than your credit score. Lenders will likely also look closely at your debt-to-income ratio (DTI), which is the percentage of your monthly gross income that is being used to pay your monthly debts. A DTI of 43% is typically the cut-off for getting approved for a mortgage, but lenders generally prefer ratios of no more than 36%.

As part of your application, a mortgage lender will also consider the amount of your down payment, along with your income and employment history.

Can I Get a Personal Loan with a 713 Credit Score?

Like most credit cards, personal loans are typically unsecured, meaning they’re not backed by collateral. As a result, lenders rely solely on a borrower’s creditworthiness to assess if a borrower qualifies and at what rate. Creditworthiness is usually a combination of your credit history and score, in addition to income and debt.

The good news is that you shouldn’t have difficulty getting a personal loan with a 713 score. To qualify, borrowers generally need a minimum credit score of 580. Your chances of getting a low interest rate on a personal loan, however, will be much higher if you have a credit score of 740 or above.

Once approved, a personal loan gives you access to a lump sum of money (anywhere between $1,000 to $50,000, sometimes more) that you can use for virtually any purpose. Personal loans are commonly used for home improvements, credit card consolidation, medical debt, large purchases, weddings, funeral costs, and more.

The Takeaway

A 713 credit score is a good credit score, but it’s not as good as it could be. To qualify for loans with the lowest interest rates and receive the most favorable terms, you’ll want to get your credit score closer to 740, ideally even higher. Building your credit — by always making on-time credit payments, catching up on past-due accounts, and paying down revolving account balances — can help improve your credit profile and allow you to unlock lending products with lower rates in the future.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

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