A good credit score is usually 670 or higher on the standard 300–850 scale, though the exact number that matters depends on what you are trying to do.

Lenders do not all use the same definition. A mortgage lender might want 620 to approve you, while a credit card issuer might want 700, and a landlord running a background check might use a different scoring model altogether. The most common scoring model is FICO, which ranges from 300 to 850. Equifax, Experian, and TransUnion — the three major credit bureaus — each produce their own FICO scores, and those scores can differ from each other because each bureau holds different information about you.

What matters is not hitting a magic number, but understanding what score range opens which doors. A score of 580 to 669 is often called "fair" credit and may get you approved for some loans at higher interest rates. A score of 670 to 739 is "good" and usually qualifies you for standard rates. A score of 740 and above is "very good" or "excellent" and typically gets you the best rates available. Below 580 is considered "poor" and closes off most traditional lending.

Key Takeaways

  • A good credit score on the FICO scale is generally 670 or above, but different lenders set their own minimum thresholds.
  • Your score can vary between the three credit bureaus because each one has different information about your payment history and debts.
  • The interest rate you receive on a loan or credit card depends partly on your score — higher scores usually mean lower rates.
  • Landlords, employers, and insurance companies may also check your credit, and they may use scoring models different from FICO.

How credit scores are calculated

FICO scores are built from five categories of information in your credit report. Payment history makes up 35 percent of your score — this is whether you paid bills on time. Amounts owed (the total debt you carry) makes up 30 percent. Length of credit history makes up 15 percent. Credit mix (having different types of credit, like a mortgage, credit card, and car loan) makes up 10 percent. New credit inquiries make up 10 percent.

The bureaus pull this information from creditors, lenders, and public records. If you have never missed a payment, carry low balances on your cards, and have had credit accounts open for years, your score will be higher. If you have missed payments, owe large amounts relative to your credit limits, or have recently opened many new accounts, your score will be lower. A single late payment can drop your score by 100 points or more, depending on how late it was and what your score was before.

What lenders actually look at beyond the number

Your credit score is one piece of information a lender uses. A mortgage lender will also look at your income, employment history, down payment amount, and the property itself. A credit card issuer will look at your income and existing debts. A landlord may look at your income relative to rent, your employment, and your criminal history — not just your credit score.

Some lenders use alternative scoring models that weight factors differently. Vantage Score is another common model that ranges from 300 to 850 but calculates differently than FICO. Some lenders build their own internal scores. A landlord might use a rental-specific score that emphasizes eviction history and prior rental payments over general credit behavior. This is why you can have a "good" FICO score but still be denied for a mortgage or apartment.

How to check your own credit score

You can see your credit report for free once per year from each of the three bureaus through AnnualCreditReport.com, which is the official site run by the bureaus themselves. That report does not include your score — it shows the accounts, payments, and inquiries that make up your score. To see your actual FICO score, you usually have to pay, though some credit card issuers and banks show your FICO score for free in your online account.

Free credit monitoring services like Credit Karma and Credit Sesame show you a free score (usually Vantage Score, not FICO) and alert you to changes in your report. These scores are useful for tracking trends but may not match the FICO score a lender will see. If you are about to apply for a mortgage or major loan, paying for your actual FICO score from myfico.com is worth the cost so you know what lenders will see.

Why your score matters for housing

Landlords often pull credit reports as part of a rental background check. Some use a credit score threshold — for example, they may require a score of 650 or higher. Others look at the report itself: late payments, collections accounts, or evictions. A good credit score suggests you pay your obligations on time, which is what a landlord cares about. If your score is lower, you may still be approved if you have a co-signer, offer a larger deposit, or provide proof of stable income.

For buying a home, your credit score directly affects whether you may have access to for a mortgage and what interest rate you receive. A score of 620 or higher usually qualifies you for an FHA loan (a government-backed mortgage for first-time or lower-income buyers). A score of 640 or higher usually qualifies you for a conventional loan. The difference between a 620 score and a 740 score can mean tens of thousands of dollars in interest over the life of a 30-year mortgage.

Steps to improve a low credit score

If your score is below 670, the fastest improvements come from paying down credit card balances. Your credit utilization — the percentage of your available credit you are using — makes up 30 percent of your score. If you have a credit card with a $5,000 limit and a $4,000 balance, paying it down to $1,000 can raise your score by 50 to 100 points within a month or two. Paying bills on time going forward is the most important step; even one late payment can set you back significantly.

Negative items like late payments, collections, and charge-offs stay on your credit report for seven years, but their impact fades over time. A late payment from five years ago hurts less than one from last month. If you have accounts in collections, paying them (even if the debt is old) can sometimes improve your score, though the account will still show on your report. Disputing inaccurate information on your credit report through the bureaus can also help if errors are dragging down your score.

The difference between credit score and credit report

Your credit score is a three-digit number calculated from the information in your credit report. Your credit report is the actual record: the accounts you have open, your payment history on each one, how much you owe, and any negative marks like late payments or collections. You can have a credit report with errors on it that lower your score unfairly. You can also have a report with no errors but a low score because you carry high balances or have missed payments in the past.

When you check your free annual report through AnnualCreditReport.com, you are looking at what the bureaus have recorded about you. If you see accounts you do not recognize, payments marked late that you made on time, or duplicate negative items, you can dispute them. The bureau has 30 days to investigate and remove inaccurate information. Fixing errors on your report is one of the few ways to raise your score quickly.

Frequently Asked Questions

Does checking my own credit score hurt it?

No. Checking your own credit score or report is a "soft inquiry" and does not affect your score. Only "hard inquiries" — when a lender pulls your credit because you applied for a loan or credit card — can lower your score slightly, usually by a few points. Multiple hard inquiries within a short time (like shopping for a mortgage) may count as one inquiry depending on the scoring model.

How long does it take to improve a credit score?

Paying down credit card balances can raise your score within 30 to 45 days because the bureaus update monthly. Establishing a pattern of on-time payments takes longer — usually three to six months of perfect payments before you see meaningful improvement. Negative items like late payments fade in impact over years, not months, though they stay on your report for seven years.

Can I get a mortgage with a credit score below 620?

Conventional mortgages typically require 640 or higher, but FHA loans (backed by the Federal Housing Administration) may go as low as 580 with a larger down payment. Some lenders have their own programs for scores between 580 and 620. You will pay a higher interest rate and may need a co-signer or larger down payment, but it is possible.

What if I have no credit history at all?

No credit history is different from a low score. You may not have a score yet if you have never borrowed money or had a credit card. You can build credit by becoming an authorized user on someone else's account, opening a secured credit card (which requires a cash deposit), or taking out a credit-builder loan from a credit union. These steps create a credit history that lenders can evaluate.

Will paying off old collections accounts raise my score immediately?

Paying a collections account stops future damage but does not erase the account from your report. Your score may rise slightly because the account will show as "paid," but the negative mark stays for seven years. The impact of the collection fades over time regardless of whether you pay it, so the main reason to pay is to stop the creditor from suing you or garnishing your wages.