What Is a Good Credit Score?

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While FICO and VantageScore both use a 300 to 850 credit score range, they calculate and group their credit scores differently. Considering both models, a good credit score falls between 670 and 780, while a score of 780 and above is considered great or exceptional. About 68% of Americans fall into the good and exceptional range, according to Finder’s Consumer Confidence Index.

What’s a good FICO score?

A good FICO score ranges between 670 and 739, while a very good score falls between 740 and 799. Most lenders use FICO’s credit scoring model when determining someone’s creditworthiness.

A “bad” FICO credit score is usually one that is below 600, generally speaking.

Rating	Score
Poor	300–579
Fair	580–669
Good	670–739
Very good	740–799
Exceptional	800+

What’s a good VantageScore?

Similar to FICO, VantageScore’s newest credit models range between 300 and 850. A good, or prime, VantageScore falls between 661 and 780, while a very good, or superprime, score ranges from 781 to 850.

Rating	Score
Subprime	300–600
Near Prime	601–660
Prime	661–780
Superprime	781–850

Related: How Do Credit Scores Work?

What’s a good credit score by age?

A credit score above 670 is a good score, no matter your age.

Your actual age does not impact your credit score, but the average age of your credit accounts does. Length of credit history makes up 15% of your FICO credit score. The older your credit history, the better.

So, while an older borrower with a long history of loans, credit cards and on-time payments may have a better credit score than a 20-year-old, your physical age has no bearing on your rating.

If you’re unsure if you have a good credit score, compare where your credit score falls against peers in your generation.

Average credit score by age

Most Americans fall between a good and excellent credit score, according to Finder’s Consumer Confidence Index. Older generations, such as gen X and baby boomers, have the most borrowers at 740 and up, which is considered “very good.”

Generation	Poor (300-579)	Fair (580-669)	Good (670-739)	Very Good/Excellent (740-850)	Don’t know score
Baby boomer	3%	11%	11%	69%	6%
Gen X	7%	20%	24%	41%	8%
Gen Y	8%	22%	29%	37%	4%
Gen Z	6%	20%	31%	32%	11%

What do lenders consider a good credit score?

Speaking very generally, a lender is likely to consider a good credit score above 670. But with that said, each credit scoring model is slightly different, and each industry uses specific models when determining a consumer’s creditworthiness.

When you apply for credit, lenders look at one or more of your credit scores that make up your credit report. For example, FICO has at least 16 credit versions lenders can access when deciding on credit card, mortgages and car loans. The most commonly used by lenders is FICO 8. There’s also FICO Auto Scores, which has scores ranging from 250 to 900. These scores place more importance on your auto loan history. For mortgages, lenders generally request all your credit reports and FICO scores generated from each report. Here’s a breakdown of what that looks like:

• FICO® Score 2, or Experian/Fair Isaac Risk Model version 2
• FICO® Score 4, or TransUnion FICO® Risk Score 04
• FICO® Score 5, or Equifax Beacon 5

Benefits of having a good credit score

Whether you’re applying for a mortgage, car loan or personal loan, a strong credit profile signals to lenders that you’re a responsible borrower and less of a credit risk. Good credit borrowers are more likely to get approved for a loan or credit. You’re also more likely to get lower interest rates and APRs, saving you on the loan’s overall cost. Plus, a good credit score gives you more leverage when negotiating with lenders.

Dive deeper: 9 Benefits of Having a Good Credit Score

7 strategies to get a good credit score

If you’re looking to improve your credit score, there are several credit-building strategies you can take advantage of. Here are a few to get you started:

• Check your credit report regularly. Regularly monitor your credit report for inaccuracies or discrepancies and promptly dispute any errors.
• Pay your bills on time. Timely payments on bills, loans and credit cards are essential for building a positive credit history.
• Reduce credit card balances. Aim to keep your credit card balances low, ideally below 30% of your credit limit, to demonstrate responsible credit usage.
• Diversify your credit types. A mix of credit types, such as installment loans and revolving credit, can positively impact your credit score.
• Become an authorized user. Ask a family member or friend with good credit if you can be added as an authorized user on their credit card to benefit from their positive credit history.
• Explore credit-building cards. Consider credit-building cards that don’t perform a credit check during the application.
• Create a budget. Develop a realistic budget to manage your finances effectively and ensure you can meet your financial obligations.

Related: How to Freeze Your Credit

Bottom line

Building and maintaining a good credit score helps you save money on loans and get more favorable terms in the long run. If you aren’t where you want to be, you have options to build your credit over time.

Frequently asked questions

• What do mortgage lenders consider a good credit score?

  Generally, a mortgage lender is going to consider a score above 600 good. For a conventional or VA mortgage, plan on needing a credit score of at least 620 to qualify. For FHA mortgages, you'll need a score of at least 580 to qualify for a 3.5% down payment, and a lower credit score may come with a higher down payment requirement.

• What impacts my credit score the most?

  Your payment history is the most heavily weighted factor in your overall credit score, making up 35% of your FICO score. So if you miss one payment, it could lower your credit score by around 50 to 100 points, depending on where your credit score currently sits.