What Is a Good Credit Score? The Complete Guide

Your credit score is a three-digit number that determines whether you can borrow money — and at what interest rate. A difference of 100 points on your score can cost (or save) you tens of thousands of dollars over a mortgage. Here's what you need to know.

Credit Score Ranges

• 800–850: Exceptional — best rates on everything, instant approvals
• 740–799: Very Good — nearly as good as exceptional, excellent rates
• 670–739: Good — most lenders approve you, rates are reasonable
• 580–669: Fair — higher rates, some lenders decline
• 300–579: Poor — very hard to get approved, extremely high rates or secured cards only

What Makes Up Your Credit Score?

• Payment history (35%): Never miss a payment — this is the most important factor
• Credit utilization (30%): Keep balances below 30% of your credit limit (under 10% is ideal)
• Length of credit history (15%): Keep old accounts open
• Credit mix (10%): Having both credit cards and loans helps
• New inquiries (10%): Don't apply for too much credit at once

What Score Do You Need for a Mortgage?

• Conventional loan: 620 minimum, 740+ for best rates
• FHA loan: 580 minimum (3.5% down), 500–579 with 10% down
• VA loan: No minimum, but most lenders want 620+
• Jumbo loan: 700+ typically required

How to Check Your Credit Score for Free

• AnnualCreditReport.com — free reports from all 3 bureaus (Equifax, Experian, TransUnion)
• Credit Karma — free score updates weekly
• Your credit card — most cards now show your score for free
• Experian.com — free monthly FICO score