- Borrowers with scores of 690–719 averaged an estimated 19.49% APR on marketplace offers (NerdWallet, Nov. 2026).
- You can qualify with most mainstream lenders, so shopping around can save you hundreds or thousands of dollars.
- If you’re close to 720, paying down credit card balances before applying may move you into a cheaper tier.
A “good” credit score puts you squarely in the middle of the personal loan market. Most lenders will approve you, but the price you’re offered can vary a lot from one lender to the next. That makes comparison shopping more valuable for good-credit borrowers than for almost anyone else.
What APR to expect with good credit
NerdWallet’s prequalification data estimated an average personal loan APR of 19.49% for scores between 690 and 719, compared with 15.10% for 720+ and 27.38% for 630–689 (updated Nov. 2, 2026). Your own offer depends on your income, existing debts, the amount you borrow and the term you choose.
Representative cost example
Example: $7,500 over 36 months at 18.00% APR = about $271.14 per month, $2,261.15 in total interest, and $9,761.15 repaid in total.
On a $10,000, 36-month loan, the difference between a 15% APR (about $346.65 a month) and a 25% APR (about $397.60 a month) is roughly $1,834 in interest over the life of the loan. Comparing several offers is worth the effort.
Five ways to get a better rate with good credit
1. Lower your credit utilization first
Credit utilization, the share of your card limits you’re using, is a major scoring factor. Paying balances down before your statement closing date can raise your score quickly, sometimes within one billing cycle.
2. Fix errors on your credit report
You can get free reports from all three bureaus at AnnualCreditReport.com. Dispute any late payments or accounts that aren’t yours.
3. Borrow less or choose a shorter term
Smaller loans and shorter terms are lower risk for lenders and can come with lower APRs. Use our loan calculator to find the shortest term you can afford.
4. Add a co-borrower
Some lenders allow joint applications. A co-borrower with higher income or a stronger score can lower your rate, but they become equally responsible for the debt.
5. Compare credit unions
Federal credit unions are generally limited to an 18% interest rate cap on most loans, and many offer competitive personal loans to members with good credit.
Watch the fees
Good-credit borrowers are more likely to be offered origination fees than excellent-credit borrowers. A 3% fee on $10,000 is $300 deducted from your loan. Always compare APR, which includes the fee, and check whether the lender charges late fees or a prepayment penalty.
Common reasons for using a personal loan with good credit
- Consolidating credit card debt into one lower fixed payment
- Home improvement projects without tapping home equity
- Medical bills after you have negotiated or set up a payment plan
- Unexpected car repairs
Before you apply
- Check your score and reports.
- Decide on the amount and the longest term you’d accept.
- Prequalify with at least three lenders.
- Compare APR, monthly payment, total cost and fees.
- Submit one full application to the best offer.
Frequently asked questions
What APR can I get with a 700 credit score?
Marketplace data from NerdWallet estimated an average APR of 19.49% for scores of 690–719 in November 2026. Your offer depends on income, debts, loan amount and term.
Can I get a personal loan with a 690 credit score?
Yes. Most mainstream online lenders and many banks and credit unions accept applicants in the good-credit range.
Is it worth waiting to improve my score before applying?
If the expense can wait and you are close to the 720 cut-off, lowering card balances for a month or two may qualify you for a cheaper tier.