September 25, 2024

A good credit score typically falls within the range of 670 to 739 on most credit scoring systems, including both FICO and VantageScore models. Here’s a more detailed breakdown of common credit score categories:

• Excellent (800-900): Borrowers with this score are considered very low risk by lenders and often receive the best interest rates and terms.
• Very Good (740-799): Also considered low risk, with access to favorable terms and interest rates.
• Good (670-739): This range is considered reliable by lenders. Borrowers in this category should have little trouble securing loans, though they may not always get the very best terms.
• Fair (580-669): This range indicates some risk to lenders, leading to higher interest rates or stricter terms.
• Poor (300-579): Borrowers with scores in this range are considered high risk and may struggle to get approved for loans or may face high-interest rates.

In summary, a credit score of 670 or higher is typically considered good, but for optimal financial terms, aiming for a score of 740 or above is ideal.