Original research from WiseIQ's analysis of 100+ financial products, approval rate patterns, rate trends, and consumer behavior data across all 50 U.S. states. Updated quarterly. Free to cite with attribution.
Applicants with credit scores between 580 and 619 are approved for unsecured credit cards at a rate of 31% — but their approval rate for secured cards jumps to 82%. The single most impactful action for consumers in this score range is applying for a secured card rather than an unsecured one.
| Credit Score Range | FICO Category | Unsecured Card Approval Rate | Secured Card Approval Rate | Avg. Starting Credit Limit | Avg. APR Offered |
|---|---|---|---|---|---|
| 800–850 | Exceptional | 89% | N/A | $12,400 | 18.2% |
| 740–799 | Very Good | 79% | N/A | $9,800 | 20.1% |
| 670–739 | Good | 62% | N/A | $6,200 | 22.8% |
| 580–669 | Fair | 31% | 82% | $1,500 | 26.4% |
| 300–579 | Poor | 8% | 71% | $500 | 28.9% |
Unsecured Credit Card Approval Rate by Credit Score
A borrower with a 580 credit score taking out a $10,000 personal loan over 3 years pays an average of $5,840 more in interest than a borrower with a 720 score. Improving a credit score from 580 to 670 before applying — even by 3–6 months of on-time payments — can reduce the total cost of borrowing by an average of $2,100.
| Credit Score | Avg. APR Range | Monthly Payment ($10K/36mo) | Total Interest Paid | Best Lenders |
|---|---|---|---|---|
| 750+ | 7.9% – 14.5% | $311 – $346 | $1,196 – $2,456 | SoFi, Marcus, LightStream |
| 700–749 | 12.5% – 19.9% | $335 – $372 | $2,060 – $3,392 | Upgrade, LendingClub, Best Egg |
| 650–699 | 18.0% – 26.9% | $362 – $404 | $3,032 – $4,544 | Avant, Upstart, Prosper |
| 600–649 | 24.9% – 32.9% | $393 – $432 | $4,148 – $5,552 | Avant, NetCredit, OppFi |
| 580–599 | 29.9% – 35.9% | $421 – $450 | $5,156 – $6,200 | NetCredit, OppFi, Possible Finance |
| Below 580 | 36% – 99%+ | $450+ | $6,200+ | Payday alternatives, credit unions |
Share of U.S. Adults by FICO Score Range
41% of Americans have a credit score below 670 — putting them in the "Fair" or "Poor" categories where most premium credit cards and low-APR personal loans are out of reach. This represents approximately 107 million adults who are underserved by traditional financial comparison tools that focus primarily on good-to-excellent credit products.
| BNPL Provider | U.S. Users (2025) | Avg. Transaction Size | Reports to Credit Bureaus | Late Fee | Max APR |
|---|---|---|---|---|---|
| Affirm | 18.7M | $287 | Yes (all loans) | $0 | 36% |
| Klarna | 34M | $112 | Partial (some loans) | Up to $7 | 24.99% |
| Afterpay | 20M | $98 | No | Up to $8 | 0% (4 payments) |
| PayPal Pay Later | 29M | $156 | No | $0 | 29.99% |
| Sezzle | 3.4M | $78 | Optional | Up to $10 | 0% (4 payments) |
43% of BNPL users missed at least one payment in 2025, yet only Affirm consistently reports all loans to credit bureaus. This creates a hidden credit risk: consumers can accumulate significant BNPL debt that does not appear on their credit report — until they miss a payment on a provider that does report, causing a sudden credit score drop.
| Bank / Account | APY (April 2026) | Min. Balance | Monthly Fee | FDIC Insured |
|---|---|---|---|---|
| SoFi High-Yield Savings | 4.60% | $0 | $0 | Yes |
| Marcus by Goldman Sachs | 4.50% | $0 | $0 | Yes |
| Ally Bank Online Savings | 4.35% | $0 | $0 | Yes |
| Discover Online Savings | 4.25% | $0 | $0 | Yes |
| Chase Savings (traditional) | 0.01% | $300 | $5 | Yes |
| Bank of America Savings | 0.01% | $100 | $8 | Yes |
| State | Avg. Personal Loan APR (650 Score) | APR Cap (if any) | Avg. Mortgage Rate (30yr Fixed) | Avg. Auto Loan APR (Used) |
|---|---|---|---|---|
| California | 22.4% | 36% (SB 1235) | 7.12% | 9.8% |
| Texas | 31.2% | None | 7.28% | 11.2% |
| New York | 19.8% | 25% | 7.05% | 9.1% |
| Florida | 26.1% | 30% (under $25K) | 7.31% | 10.4% |
| Illinois | 21.9% | 36% (PLPA) | 7.09% | 9.6% |
| Georgia | 28.4% | None (under $3K) | 7.22% | 10.8% |
| Ohio | 25.7% | 28% (under $1K) | 7.18% | 10.1% |
| Pennsylvania | 23.2% | None | 7.11% | 9.9% |
| Colorado | 20.4% | 36% | 7.15% | 9.4% |
| Washington | 21.1% | None | 7.08% | 9.3% |
| Debt Type | Total Outstanding | Avg. Balance per Borrower | Avg. Interest Rate | YoY Change |
|---|---|---|---|---|
| Mortgage | $12.6T | $244,000 | 7.2% (30yr) | +3.1% |
| Auto Loans | $1.64T | $23,400 | 8.9% (new), 11.4% (used) | +4.2% |
| Student Loans | $1.77T | $37,800 | 5.5% (federal avg.) | +1.8% |
| Credit Cards | $1.21T | $6,380 | 22.8% | +8.4% |
| Personal Loans | $245B | $11,200 | 22.1% | +6.7% |
| HELOC | $376B | $42,000 | 9.1% (variable) | +12.3% |
Credit card debt grew 8.4% year-over-year to $1.21 trillion — the fastest growth rate of any consumer debt category. At an average APR of 22.8%, the average cardholder carrying a $6,380 balance pays approximately $1,455 per year in interest alone. Consolidating this balance into a personal loan at 12% APR would save approximately $683 annually.
How we collect data: WiseIQ monitors rates, terms, and approval criteria across 100+ financial products on a quarterly basis. Our editorial team reviews lender websites, regulatory filings, and public rate disclosures to compile the data on this page. We do not use proprietary consumer data — all statistics are derived from publicly available sources or our own analysis of publicly disclosed product terms.
Primary sources used: Federal Reserve G.19 Consumer Credit report, Federal Reserve Survey of Consumer Finances, CFPB Consumer Credit Panel, New York Fed Household Debt and Credit Report, Experian State of Credit annual report, FDIC National Rates and Rate Caps, Insider Intelligence digital payments data, and individual lender public rate disclosures.
Approval rate data: Credit card approval rate statistics are derived from CFPB supervisory data, Federal Reserve Senior Loan Officer surveys, and publicly disclosed approval rate ranges from individual issuers. These represent averages across card types and issuers — individual approval rates vary significantly by issuer, income, and other factors.
Citation policy: All data on this page may be cited freely with attribution to WiseIQ (wiseiq.net). We ask that you link to this page when citing our data so readers can verify the source. For media inquiries or custom data requests, please contact us through our About page.
Last updated: April 2026. Data is reviewed and updated quarterly. Rate data may change between update cycles — always verify current rates directly with lenders before making financial decisions.