A good credit score generally falls within the range of 670 to 739 on the FICO scale, which ranges from 300 to 850. Scores in this range are considered good and indicate to lenders that you are a lower-risk borrower
. Credit score categories are commonly defined as follows:
- 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
- Below 580: Poor credit score
Having a credit score above 740 is considered very good and can help you qualify for better loan terms and lower interest rates. Scores above 800 are excellent and represent the highest creditworthiness
. Note that different scoring models like FICO and VantageScore have slightly different ranges, but the general idea is similar. For example, VantageScore considers 661 to 780 as good and 781 to 850 as excellent
. In summary, aiming for a credit score of at least 670 is advisable to be considered a good borrower by most lenders, with higher scores offering even more favorable credit opportunities.
