What is a good credit score range?
While the definition of a “good” credit score varies depending on the credit-scoring model, most scores of 670 or above are pretty good.
At least, this is the case with FICO credit scores, which are used by 90% of top lenders when making credit decisions on various types of loans.
If you want to know what good credit looks like with different scoring models, you should focus on the two most popular — FICO scores and VantageScore.
What is a good FICO score?
A good FICO score falls between 670 and 739. A very good score is from 740 to 799, and an excellent score is from 800-850.
When it comes to the FICO scoring model, scores are determined based on factors like payment history, credit utilization ratio, credit mix, new credit, and the average length of your credit history. These factors are all considered and used to come up with a three-digit score that falls between 300 and 850.
FICO credit score ranges are as follows:
Credit Score Range |
Scores |
Excellent |
800-850 |
Very Good |
740-799 |
Good |
670-739 |
Fair |
580-669 |
Poor |
300-579 |
What is a good VantageScore?
VantageScore defines a good credit score as between 661 and 780 and an excellent score as between 781 and 850.
VantageScore scores fall between the following:
Credit Score Range |
Scores |
Excellent |
781-850 |
Good |
661-780 |
Fair |
601-660 |
Poor |
500-600 |
Very Poor |
300-449 |
What is a good credit score according to lenders?
Since the FICO score is used by 90% of lenders when making credit-related decisions, this is the score you’ll almost certainly want to consider before taking out a loan.
When you do, you should know that any score from 670 to 739 is typically considered good. However, scores above this range can show an even higher level of creditworthiness when it comes to your loan, which can help you qualify for better rates and loan terms.
What is a good credit score by age?
Average credit score by age (FICO model)
Age |
2022 |
2023 |
18-26 (Gen Z) |
679 (Good) |
680 (Good) |
27-42 (Millennial) |
687 (Good) |
690 (Good) |
43-58 (Generation X) |
707 (Good) |
709 (Good) |
59-77 (Baby boomers) |
743 (Good) |
745 (Good) |
78+ (Silent generation) |
760 (Very good) |
760 (Very good) |
Source: Experian
Consumers in Generation Z are just beginning on their financial journey, so their scores tend to be lower, as credit history length plays a factor in one’s FICO score. Older consumers often have higher scores, due in part to the fact that they tend to have long credit histories.
If you can get your credit score to be on par or higher than the average for your age demographic, you’re doing pretty well.
What is a good credit score for buying a house?
According to the Consumer Financial Protection Bureau (CFPB), your credit score is just one of the factors used by lenders to determine whether you qualify for a mortgage.
That said, most lenders that offer conventional mortgages prefer to see applicants with a credit score of 620 or above. However, it is possible to get an FHA loan with the best rates and terms and just 3.5% down if your credit score is 580 and above and you meet other loan requirements.
If your credit score is lower than these thresholds, you may not be able to qualify for a home loan at all. If you do qualify for a mortgage or a property loan with bad credit, you will likely wind up paying higher interest rates and more loan fees as a result. You may also be able to pay your mortgage with a credit card if your score is good enough.
What is a good credit score for getting approved for a credit card?
When it comes to qualifying for the best credit cards out there, the typical creditor likes to see a credit score of 720 or above. However, there are many credit cards for fair credit out there, and credit card issuers offer products for people with bad credit scores as well.
For example, individuals with poor credit can get started with a secured credit card or even a credit-builder loan at first. While not all credit card issuers offer products for people with bad credit, some like Capital One and Discover do.
What is a good credit score for getting a car loan?
A good credit score for auto loans is typically any score of 670 or higher, although this is not always the case. For example, some lenders gauge eligibility based on an alternate credit score known as the FICO Auto Score. The newest version of this score comes in a range from 250 to 900.
Also note that auto lenders typically rate consumers based on their scores using a scale that includes super prime, prime, nonprime, subprime, and deep subprime.
In that case, your ability to qualify for an auto loan with the best rates and terms will vary based on the credit score ranges below:
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Super prime: 781-850
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Prime: 661-780
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Nonprime: 601-660
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Subprime: 501-600
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Deep subprime: 300-500
Which factors impact your credit score?
When it comes to FICO scores and how they’re determined, you should know that a range of factors can impact how your score looks with the three credit bureaus each month.
According to Freddie Mac, the factors used to determine your FICO score are as follows:
While all of these factors are considered when determining your score, you should know that data reported to the credit bureaus can vary. For example, one of your lenders might only report to Experian, whereas another reports your payments and balances to Experian, Equifax, and TransUnion.
Ultimately, this is one of the reasons you can have different credit scores with all three credit bureaus. What matters most is your average credit score, and your ability to keep your credit in the best possible shape over time.
Why having a good credit score is important
Having an excellent credit score may not seem like a big deal, but there are times in your life when your credit score can impact your happiness and financial stability in a major way.
For example, having bad credit can prevent you from getting a home loan or a car loan without a co-signer. Poor credit can also prevent you from qualifying for the best rewards credit cards or getting the lowest possible auto insurance rates.
Believe it or not, falling short of a good score can also mean missing out on a new job or a promotion you want. This can happen if an employer requests to see a modified version of your credit report for hiring purposes, and if they don’t like what they see.
What good credit can get you
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Pre-approval or pre-qualification:
Excellent credit makes it easy to get pre-approved for the best financial products, whether you want a top rewards credit card or you’re applying for a personal loan or a car loan.
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Lower interest rates:
When you’re a borrower with excellent credit, you can typically qualify for the lowest interest rates available. This is true whether you’re applying for a credit card, an auto loan, or a third-party financial product.
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Higher credit limits:
Having excellent credit, a solid income, and low credit utilization can also help you qualify for higher credit limits than you might otherwise.
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Freedom and independence:
Having good credit makes it possible to live your life how you want, without outside help. For example, excellent credit can help you get a house or an apartment on your own, or make it possible to finance your dream car without having to get someone’s permission.
How to get a good credit score
If you want to get a good credit score, you’ll want to look again at the factors that make up your credit in the first place.
As a reminder, these include your payment history, your credit utilization, the length of your credit history, new credit, and your credit mix.
Since your payment history makes up 35% of your FICO score, you’ll want to begin building credit by keeping all your bills and monthly payments up-to-date. Where on-time payments can help boost your score in this category, a late payment can cause it to drop in a hurry.
From there, you can improve your credit by keeping credit card debt at a minimum and maintaining a credit utilization ratio of 30% or below. Generally speaking, this means maintaining balances of $3,000 or below for every $10,000 in revolving credit available to you.
Since the length of your credit history makes up another 15% of your score, you can do well in this category by maintaining good credit for the long haul and keeping old accounts open for as long as you can.
To score well in the credit mix category, you’ll want to maintain a few different types of credit including revolving accounts like credit cards mixed in with installment loans like mortgages, personal loans, and auto loans.
The new credit category considers how much new credit you have applied for in the recent past. To score well here, you can refrain from opening new accounts unless you have to.
How can you get a perfect credit score?
A perfect credit score of 850 is difficult, but not impossible, to achieve. You’ll need 10 or more years of credit history, a nearly perfect track record of on-time payments, a low credit utilization rate, and no recent hard inquiries on your credit report.
Can you improve your credit scores quickly?
When it comes to how quickly you can improve your credit score, there are no hard-and-fast rules. For example, some people can improve their scores rather quickly, whereas others might need more time if they have made credit mistakes in the recent past.
If you’re hoping to boost your credit as quickly as possible, your best bet is making all payments on time and paying down the debt you have, including credit card debt. These two moves fall within the most important categories that make up your FICO score, so they have the potential to make the biggest impact.
How to check your credit score for free
While you can check your credit reports from all three credit bureaus — Experian, Equifax, and TransUnion —for free using the website AnnualCreditReport.com, there are several ways to see a free version of your credit score as well.
For example, free programs like Capital One CreditWise, Chase Credit Journey, and Discover Credit Scorecard let you see your score for free. You can also see a version of your credit score for free by creating an account on Credit Karma or Credit Sesame.