A good credit score typically falls within the range of 670 to 739 on the common 300 to 850 scale used by FICO and many lenders. Scores in this range are generally viewed by lenders as acceptable or lower-risk borrowers, which can help you qualify for loans and credit cards with favorable terms
. Here is a more detailed breakdown of credit score ranges according to FICO:
- 800 to 850: Excellent credit score
- 740 to 799: Very good credit score
- 670 to 739: Good credit score
- 580 to 669: Fair credit score
- 300 to 579: Poor credit score
The VantageScore model, another common scoring system, considers a good credit score to be between 661 and 780, which it calls the "prime" credit tier
. Having a good credit score increases your chances of loan approval and can help you secure lower interest rates and better credit terms. However, lenders may also consider other factors like income and employment history when making decisions
. In summary, a credit score from about 670 to 739 is considered good, with higher scores offering even better credit opportunities. Scores above 740 are very good to excellent, while scores below 670 are fair to poor
