What is a Good Credit Score?

What constitutes a good credit score is often a matter of opinion. It’s also a matter of word choice, since some define a “good” credit score as that which will entitle you to the lowest interest rates.

So, while opinions might vary as much as 20-30 points depending upon who is analyzing a credit report and scores, the general rule of thumb is as follows:

Excellent Credit Score: 760 – 850
Good Credit Score: 700 – 759
Fair Credit Score: 625 – 699
Poor Credit Score: 550 – 624
Bad Credit Score: 300 – 549

Most lenders offer interest rates based on a further breakdown of rankings such as these.
Thus it is always in a consumer’s best interest to know their lender’s “breaking points” and work on raising their score into the next higher notch.

Your lender may offer different interest rates based on a breakdown such as:

760 – 850
700 – 759
680 – 699
660 – 679
640 – 659
620 - 639