Your credit score is more than just a three-digit number; it is a powerful financial tool that dictates the terms of your borrowing life. Whether you are applying for a mortgage, a car loan, or even a new apartment lease, this number acts as a shorthand for your financial reliability. However, seeing a score of 670 or 740 often leads to confusion: Is that good? Is it enough to get the best rates?
Understanding credit score ranges is essential because lenders do not look at your exact score in isolation. Instead, they categorize you into specific “buckets”—from Poor to Exceptional. Moving from one range to the next can mean the difference between a rejected application and an approval with low interest rates that save you thousands over time.
In this guide, we will decode the standard FICO Score chart (300–850). We will explain exactly what each range signifies to lenders and how your placement affects your wallet. To understand how these scores are calculated in the first place, be sure to review our foundational guide on How Credit Works: A Simple Guide to Credit Scores and Credit History.
The Standard FICO Score Scale
Most lenders in the United States use the FICO Score 8 model, which operates on a scale from 300 to 850. While every lender has its own internal criteria for risk, the general consensus divides this scale into five distinct categories. Knowing where you land helps you predict the outcome of your loan applications.
Exceptional Credit: 800 to 850
Scores in this range are considered the “gold standard” of creditworthiness. Borrowers in this tier are viewed as virtually zero risk. If your score is above 800, you will almost certainly be approved for credit cards and loans with the absolute lowest interest rates available. You can expect perks like 0% introductory APRs, high credit limits, and premium rewards cards without hassle.
Very Good Credit: 740 to 799
This range is above the national average and demonstrates to lenders that you are a highly responsible borrower. While you might not get every single “perfect” offer that an 800+ score would, the difference is often negligible. For major purchases like a mortgage, a score of 760 is frequently the cutoff for the best possible rate. Being in this zone means you are in a strong financial position.
Good Credit: 670 to 739
The median FICO score in the U.S. typically hovers around 715, placing most Americans in this “Good” category. Lenders view you as an “acceptable” borrower. You will likely be approved for most loans, but you might not qualify for the lowest advertised rates. If you have a score of 680, for example, you are considered a “prime” borrower, but a few late payments or high utilization could quickly drop you into a lower tier.
Fair Credit: 580 to 669
Scores in this range are often labeled as “subprime.” Borrowers here may have significant blemishes on their credit history, such as missed payments or high debt levels. While you can still get approved for credit, the terms will be less favorable. You will likely face higher interest rates and fees to offset the lender’s risk. Securing a mortgage or a car loan is possible but significantly more expensive over the life of the loan.
Poor Credit: 300 to 579
A score below 580 is considered “Poor” and indicates a high risk of default. This is often the result of bankruptcy, foreclosure, or multiple missed payments. In this range, traditional lenders will likely reject your applications. You may be required to pay a deposit for utilities or a cell phone plan. To rebuild, you will likely need to use secured credit cards or credit builder loans.
VantageScore Ranges Are Slightly Different
While FICO is dominant, you might also see a VantageScore when checking free credit monitoring apps. VantageScore 3.0 and 4.0 use the same 300–850 scale, but their interpretation of “Good” or “Excellent” can vary slightly. For instance, VantageScore might categorize a 661 as “Good,” whereas FICO might see it as “Fair.” Always check which model your lender is using.
The Real Cost of a Lower Range
Moving up just one range can save you a fortune. On a 30-year fixed mortgage of $300,000, the difference between a “Very Good” score (760+) and a “Fair” score (620-639) can mean paying over $100,000 more in interest over the life of the loan. This is why striving for the next tier up is always a smart financial move.
Know Your Number, Know Your Power
Your credit score range is the primary filter lenders use to decide your financial fate. Whether you fall into the “Fair” bucket or the “Exceptional” elite, knowing exactly where you stand empowers you to negotiate better terms or delay an application until your score improves. Remember, these ranges are not permanent sentences; they are snapshots in time.
If you find yourself in a lower tier, use the strategies outlined in our comprehensive guide, How Credit Works: A Simple Guide to Credit Scores and Credit History, to climb the ladder. Moving up just one range—from “Fair” to “Good”—can unlock significant savings and financial opportunities. Monitor your score regularly, understand the factors holding you back, and take control of your financial reputation today.
Frequently Asked Questions About Credit Ranges
What is a good credit score to buy a house?
Generally, a FICO score of 620 is the minimum needed for a conventional mortgage. However, to qualify for the best interest rates, lenders typically look for a “Very Good” score of 740 or higher. FHA loans may accept scores as low as 580 with a 3.5% down payment.
What is the highest credit score possible?
The highest possible FICO score is 850. Achieving a perfect score is rare and difficult to maintain, but it is not necessary for getting the best loan terms. Generally, any score above 800 is considered “Exceptional” and qualifies for the same top-tier benefits.
Is 700 considered a good credit score?
Yes, a score of 700 falls within the “Good” range (670-739). Lenders view borrowers with a 700 score as “acceptable” risks. You will likely be approved for most credit cards and loans, though you may not receive the absolute lowest interest rates available to those in the “Very Good” or “Exceptional” tiers.
Do all lenders use the same credit score ranges?
No. While the standard FICO ranges are widely used, each lender has its own internal risk criteria. Some may have stricter standards for approval, while others specialize in “subprime” lending for lower scores. Additionally, different scoring models like VantageScore 3.0 may weigh factors slightly differently.
How often do credit score ranges update?
Your credit score is calculated every time a lender requests it or you check it yourself. However, the data underlying the score—your credit report—is typically updated by creditors once a month. Therefore, your score can fluctuate slightly every 30 days as new balances and payment statuses are reported.
