What Is Considered a Good Credit Score?

Credit Scores by the Numbers: The Good and the Bad


It's simple: the higher your credit score, the lower the interest rates accessible to you. Now that lenders have started being more attentive to the credit histories of potential borrowers, there's one more reason for you to pay more attention, too. Once you know your credit score, you should do everything you can to raise your number so that you save as much money as possible on interest rates. Here are a few more facts about credit scores according to FICO.

  • The median credit score in the US is 723.
  • The highest possible score is 850, while the lowest possible score is 300.
  • Most lenders require a score of at least 760 to get the best rates.
  • After 760, interest rates increase according to these score brackets: 700-759, 680-699, 660-679, 640-659, 620-639.
  • Interest rates increase significantly with a score below 620, because at that point lenders consider you to be in the subprime category.

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