Your credit score directly determines the interest rates you’ll pay — and whether you qualify at all. Here’s exactly what scores you need for the best rates on each loan type.
Quick answer: On myFICO’s Loan Savings Calculator (viewed October 14, 2026), the best mortgage rate went to the 780+ band, and each lower band priced higher: a 620+ score meant $52,369 more interest than 780+ on a $300,000 30-year loan. Auto loan and credit card pricing varies by lender.
Credit Score Tiers
| Score Range | Category | Impact on Rates |
|---|---|---|
| 800-850 | Exceptional | Best possible rates |
| 740-799 | Very Good | Near-best rates |
| 670-739 | Good | Average rates |
| 580-669 | Fair | Higher rates |
| 300-579 | Poor | Very high rates or no approval |
Mortgage Credit Score Requirements
Conventional Mortgage Rates by Credit Score
| Credit Score | 30-Year Rate | Monthly Payment ($300k loan) | Total Interest |
|---|---|---|---|
| 780+ | 7.47% | $2,091 | $452,933 |
| 760+ | 7.56% | $2,110 | $459,593 |
| 740+ | 7.62% | $2,122 | $464,046 |
| 720+ | 7.76% | $2,151 | $474,472 |
| 700+ | 7.79% | $2,158 | $476,714 |
| 680+ | 7.91% | $2,183 | $485,700 |
| 660+ | 7.93% | $2,187 | $487,201 |
| 640+ | 8.03% | $2,208 | $494,725 |
| 620+ | 8.17% | $2,237 | $505,302 |
myFICO Loan Savings Calculator, 30-year fixed mortgage, $300,000 loan, viewed October 14, 2026.
780+ vs. 620+ = $146/month difference, $52,369 more in interest over 30 years
Minimum Scores for Mortgage Types
| Loan Type | Minimum Score | Best Rates |
|---|---|---|
| Conventional | 620 | Higher scores price lower |
| FHA | 500 (10% down) / 580 (3.5% down) | Varies by lender |
| VA | No minimum (typically 620+) | Varies by lender |
| USDA | 640 | Varies by lender |
| Jumbo | Set by lender | Higher scores price lower |
Auto Loan Credit Score Requirements
Auto Loan Rates by Credit Score
Auto loan rates depend on the lender, the loan term, and the vehicle, so this page does not quote rates by score. Compare offers from several lenders.
Lenders set their own approval rules and rate tiers for auto loans, and 0% APR offers are set by each manufacturer or lender, so this page does not list score cutoffs for them.
Credit Card Requirements
Issuers set their own approval standards for each card and do not publish minimum scores, so this page does not list score cutoffs by card type.
Credit Card APR by Score
Card issuers don’t publish one APR schedule by credit score; each sets a range and places you within it based on your credit profile. For a benchmark, the Federal Reserve’s G.19 release put the average APR on credit card accounts assessed interest at 22.36% in its August 2026 reading.
Personal Loan Requirements
Lenders set personal loan APRs from your credit profile, income and loan term, and they publish ranges rather than rates by score. For a benchmark, the Federal Reserve’s G.19 release put the average 24-month personal loan rate at commercial banks at 11.90% in its August 2026 reading.
Personal Loan Cost Comparison ($20,000, 5-year term)
| Example APR | Monthly Payment | Total Interest |
|---|---|---|
| 10% | $425 | $5,496 |
| 15% | $476 | $8,548 |
| 22% | $552 | $13,143 |
| 28% | $623 | $17,363 |
Illustrative APRs, not quotes by score; the payment math is the same for any lender.
Student Loan Requirements
Private Student Loans
Private lenders set their own rates and cosigner rules by credit profile and publish ranges, not rates by score, so compare offers from several lenders.
Federal student loans have no credit score requirement.
Lifetime Cost of Low Credit Scores
Estimated Extra Costs
| Loan Type | 620+ Band vs. 760+ Band | Difference |
|---|---|---|
| Mortgage ($400k, 30-year; 8.17% vs. 7.56%) | $1,073,736 vs. $1,012,792 total paid | +$60,944 |
Rates from myFICO’s Loan Savings Calculator, viewed October 14, 2026; total paid is principal plus interest, computed for a $400,000 loan. Auto, card and personal loan costs depend on the lender, so they are not estimated here.
Insurance and Credit Scores
Insurance companies often use a consumer’s credit information when deciding whether to offer auto or homeowners insurance and how much that insurance will cost, according to the National Association of Insurance Commissioners (NAIC). The insurer’s score is a credit-based insurance score, which predicts the chance of a claim rather than loan repayment. Some states impose additional restrictions or prohibit certain uses altogether, so check your state’s rules.
How to Improve Your Credit Score
The actions that most reliably help are paying cards down, paying every bill on time, and disputing errors on your report. How many points each adds, and how fast, depends on your report, so this page gives no point estimates or timelines.
Credit Utilization Impact
Keeping credit utilization low is critical:
Lower utilization is better for your score, and there is no single cutoff that applies to everyone.
Example: $10,000 credit limit
- $500 balance = 5% utilization (great)
- $3,000 balance = 30% utilization (okay)
- $7,000 balance = 70% utilization (hurting your score)
Credit Score Tiers for Specific Purposes
Landlords, utilities, phone carriers and lessors each set their own score standards, so this page does not list cutoffs by purpose.
Bottom Line
- Higher bands price lower: on myFICO’s mortgage calculator the 780+ band had the lowest rate
- Lenders set their own cutoffs, so the same score can get different offers from different lenders
- The difference between the 620+ and 760+ bands on a $400,000 30-year mortgage is about $61,000 in interest at myFICO’s October 14, 2026 rates
- Moving up a band from 620+ to 720+ would cut about $41,000 of interest on that same mortgage
- Focus on credit utilization (keep below 30%) and payment history (never miss)
Score thresholds for premium rates are covered in the credit score hub. See how your score compares by age in average credit score by age, and improve your score by managing credit utilization ratio.
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