For a score with a range of 300 to 850, a credit score of 670 to 739 is considered good. Credit scores of 740 and above are very good while 800 and higher are excellent.
For credit scores that range from 300 to 850, a credit score in the mid to high 600s or above is generally considered good. A score in the high 700s or 800s is considered excellent. About a third of consumers have FICO® ScoresÎ that fall between 600 and 750âand an additional 48% have a higher score. In 2023, the average FICO® Score in the U.S. was 715.
Lenders use their own criteria for deciding whom to lend to and at what rates. But a higher credit score can generally help you qualify for a credit card or loan with a lower interest rate and better terms. The two main types of credit scores, the FICO® Score and VantageScore® credit scores, vary slightly in their ranges but have similar scoring factors.
A credit score of 717 is considered good by most lenders. The score falls within the “good” credit range of 670-739 on the 300-850 FICO scale. With a 717 credit score you’ll likely qualify for favorable interest rates from lenders. But you may not get the absolute lowest rates or biggest rewards offered to borrowers with higher scores.
In this article, we’ll take a close look at what makes 717 a good credit score. We’ll also explore what you can qualify for with this score and how to continue building your credit.
What is a Good Credit Score?
Good credit scores typically range from 670 to 739 on the FICO scale. The average US credit score is currently 714, right in the middle of this range.
Lenders view borrowers with good credit scores as acceptable risks. You’ll likely qualify for a variety of credit products, though not necessarily at the most favorable terms.
About 21% of U.S. consumers have credit scores in the good range. People with good scores are much less risky than those with fair credit (scores of 580-669) or poor credit (below 579).
Why is 717 a Good Credit Score?
A credit score of 717 is good because it shows lenders you have a proven ability to manage credit responsibly. Factors that help achieve a score of 717 include:
- A history of on-time payments and low balances on credit cards and loans
- Moderate use of available credit (not maxing out cards)
- Established length of credit history
While a 717 credit score is good, it’s on the lower end of the good range. As we’ll discuss later, you may want to work on boosting your score higher over time to qualify for the very best rates. First, let’s look at what you can get approved for with a 717 score today.
What Can You Get Approved For with a 717 Credit Score?
Here are some of the credit products and terms you can expect to qualify for with a 717 credit score:
Mortgages
-
Conventional loans: You can likely qualify for a conventional mortgage with a score of 717. Mid-700s scores often get the best rates.
-
FHA loans: Easily qualifies for an FHA mortgage, which requires just a 580 score.
-
VA loans: No minimum score needed for a VA loan, but your income must meet the lender’s standards.
-
USDA loans: Like VA loans, no minimum score for USDA lending programs.
Auto Loans
-
Qualifies for most auto loans from banks, credit unions and dealerships. Rates improve above 720.
-
Pre-approvals make it easier to negotiate the best rate at the dealership.
-
Refinancing an existing auto loan can potentially lower your interest rate.
Credit Cards
-
Approval odds are excellent for no-annual-fee rewards cards.
-
Can qualify for travel rewards cards with nice perks.
-
Balance transfer and 0% intro APR offers are achievable.
-
Cards for business, students, and bad credit available.
Personal Loans
-
Quick pre-approvals for online personal loans up to $40,000.
-
Qualifies for debt consolidation and credit-builder loans.
-
Installment loans offer predictable payments.
-
Cosigners can help borrowers with short/thin credit histories.
How Does a 717 Credit Score Compare?
While 717 is a good score, it falls short of excellent credit, which starts at 740. Here’s how a 717 credit score stacks up:
-
Better than 59% of Americans – About 41% of people have credit scores below 717.
-
Worse than 32% of Americans – Roughly 32% of people have scores of 740 or higher.
-
Typical of Millennials – The average millennial has a credit score of 717.
-
Higher than Gen Z – Only 24% of Gen Z’ers have scored 700-749 so far.
-
Better than Silent Generation – Just 13% of the Silent Generation have credit scores above 700.
So a 717 score is better than most, but lags high achievers by 23 points. The good news is you likely have plenty of room to improve your credit.
How to Improve Your 717 Credit Score
Here are some tips to continue building your credit score above 717:
-
Pay bills on time. Payment history has the biggest impact on your scores. Stay on top of due dates.
-
Lower credit utilization. Keep balances below 30% of your credit limits.
-
Allow time between applications. Too many new accounts can lower your score temporarily.
-
Mix up your credit. Open installment loans like auto, mortgage, or personal loans.
-
Monitor your credit. Regularly review your credit reports for errors to dispute.
-
Give it time. Credit scores improve with length of positive history.
Maintaining Good Credit with a 717 Score
Now that your credit score is good, it’s important to keep up the habits that got you here:
-
Make at least the minimum payment every month, on time. Set up autopay if it helps.
-
Try to keep credit card balances low. High utilization hurts your scores.
-
Open new credit accounts sparingly. Too many inquiries in a short period can lower your scores.
-
Monitor your credit regularly and dispute any errors with the bureaus.
-
Have a mix of installment loans and revolving accounts. This shows you can handle different types of credit.
Sticking to these credit management basics will help ensure your scores stay in the good range or reach even higher over time.
Is a 717 Credit Score Good Enough?
A credit score of 717 means you have good credit overall. You can qualify for excellent loan products, but might not get the rock-bottom interest rates or biggest rewards available.
If your goal is to unlock the most favorable lending terms, you may want to work on improving your credit score above 717. But overall, you can feel good about having reached good credit territory.
Now that you understand what a 717 credit score means, you can make informed choices when applying for credit. Monitoring your scores and reports will also help you continue making progress. Aim to utilize credit wisely as you build your financial profile.
VantageScore Credit Score Factors
VantageScore lists the factors by how influential they generally are in determining a credit score, but this will also depend on your unique credit report. VantageScore considers factors in the following order:
| VantageScore Credit Scoring Factor | Importance |
|---|---|
| Payment history | Extremely influential |
| Total credit usage | Highly influential |
| Credit mix and experience | Highly influential |
| New accounts opened | Moderately influential |
| Balances and available credit | Less influential |
What Is a Good VantageScore Credit Score?
The latest VantageScore 3.0 and 4.0 credit scores use a range of 300 to 850âthe same as the base FICO® Scoresâand a good score is 661 to 780.
VantageScore doesnt have industry-specific credit scores, but it has released updated models over the years. The first two VantageScore credit scores had a 501 to 990 range, but lenders dont commonly use those scores.
Is 717 A Good Credit Score? – CreditGuide360.com
FAQ
What can a 717 credit score get you?
A FICO® Score of 717 provides access to a broad array of loans and credit card products, but increasing your score can increase your odds of approval for an even greater number, at more affordable lending terms.
Is 717 a good credit score to buy a house?
You may be able to get a conventional loan with credit scores above the mid-600s, but having scores in the mid-700s or higher increases your chances of securing a competitive interest rate. FHA loans: These mortgages are made by private lenders but insured by the Federal Housing Administration.
Is 717 a good credit score to buy a car?
Whether you’re buying a car or house, or refinancing your student loans, lenders look at your credit score to gauge how reliable you are as a borrower. This information is then used to determine your interest rate. Generally speaking, a credit score 670 and above is considered “good” by most lenders.
How rare is a 750 credit score?
A credit score of 750 is considered “very good” and is above the average credit score in the United States. While it’s not as rare as an exceptional score of 800 or higher, it still places you in a relatively strong position with lenders.
Is a 717 credit score a good credit score?
A 717 credit score is considered a good credit score by many lenders. “Good” score range identified based on 2023 Credit Karma data. A credit score is a number that lenders use to help assess how risky you might be as a borrower. Credit scores are based on credit reports, which contain information about your credit history.
Is a 717 FICO score good?
Once you’ve stuck with it for six months or so, you’ll find yourself remembering without being nagged (but keep the reminders around anyway, just in case). A 717 FICO ® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms.
Can you get a student loan with a 717 credit score?
Student loans are some of the easiest loans to get with a 717 credit score, seeing as more than 70% of them are given to applicants with a credit score below 740. A new degree may also make it easier to repay the loan if it leads to more income.
Can you get a car loan with a 717 credit score?
If you’re planning big-ticket purchases or a balance transfer that will take months to pay down, compare credit cards with 0% introductory APR offers. You should be able to get approved for a decent car loan with a 717 credit score, considering that more than 60% of all auto loans go to people with credit scores below 740.
Is a 717 a good engine?
Anyway, the 717 is a great engine, especially for someone who doesn’t care about speed/torque, wants something simple and is just cruising. As I mentioned, I have a ski with both engines, I prefer the 787, mainly because it’s quite a bit smoother thanks to the counter balance, and has more torque.
What is a good credit score?
Your score falls within the range of scores, from 670 to 739, which are considered Good. The average U.S. FICO ® Score, 714, falls within the Good range. Lenders view consumers with scores in the good range as “acceptable” borrowers, and may offer them a variety of credit products, though not necessarily at the lowest-available interest rates.