A good FICO score is generally 670 or higher, though lenders define it differently

FICO scores range from 300 to 850. Most lenders consider 670 and above "good," but the threshold that actually matters depends on what you are trying to do. A mortgage lender may want 620 minimum, while a credit card issuer might want 700. A car loan lender might approve you at 650. The score itself is just a number — what counts is whether the specific lender you are dealing with will lend to you at that score.

Your FICO score is calculated from five categories of information in your credit report: payment history (35 percent), amounts owed (30 percent), length of credit history (15 percent), credit mix (10 percent), and new credit inquiries (10 percent). A "good" score means you have done well in most of these areas, particularly in paying on time and keeping balances low relative to your credit limits.

FICO publishes score ranges, but they are guidelines, not rules. Different versions of the FICO score exist — FICO 8 is most common for credit cards and personal loans, while FICO 2, 4, and 5 are used specifically for mortgage lending. Your score may vary slightly between versions because they weight the five categories differently.

Key Takeaways

  • FICO scores of 670 to 739 are considered good, though lenders set their own minimum thresholds and may approve you below or above this range.
  • Payment history is the single largest factor in your score, accounting for 35 percent, so late payments damage your score more than any other mistake.
  • Keeping credit card balances below 30 percent of your limit matters more than having zero balance, and affects 30 percent of your score.
  • Your score can vary between lenders because different versions of the FICO score weight the five categories differently depending on the loan type.
  • Checking your own credit report does not lower your score, but applications for new credit from lenders do create a small temporary dip.

How FICO score ranges break down

FICO publishes these general ranges: 300–579 is poor, 580–669 is fair, 670–739 is good, 740–799 is very good, and 800–850 is exceptional. However, these are descriptive categories, not hard cutoffs. A lender offering a mortgage at 620 minimum is not saying 620 is "good" — they are saying they will lend at that score. A credit card issuer requiring 700 is setting their own bar higher.

The practical difference between 650 and 700 can be substantial. At 650, you may face higher interest rates, larger down payments, or outright rejection from mainstream lenders. At 700, you enter the range where most traditional lenders compete for your business and offer better terms. At 750 and above, you typically get the best rates available.

Your score also matters for things beyond borrowing. Landlords, employers, and insurance companies sometimes check credit reports (though not always the FICO score itself). A higher score generally works in your favor, but the specific threshold varies by situation.

What actually moves your FICO score

Payment history is the largest factor. A single late payment — even 30 days late — can drop your score 100 points or more, depending on your current score and how recent the late payment is. Payments that are 60, 90, or 120+ days late do more damage. Accounts sent to collections or charged off cause the biggest drops. Conversely, making every payment on time, even if only the minimum, steadily rebuilds your score over time.

Credit utilization — the percentage of your available credit you are using — accounts for 30 percent of your score. If you have a $5,000 credit limit and carry a $4,500 balance, your utilization is 90 percent, which hurts your score. Dropping that balance to $1,500 (30 percent utilization) helps significantly. Paying off the card entirely to zero percent utilization helps, but the improvement from 30 percent to zero is smaller than the improvement from 90 percent to 30 percent.

Length of credit history (15 percent) rewards you for keeping old accounts open, even if you do not use them. Closing a credit card account can lower your score because it reduces your total available credit and shortens your average account age. Credit mix (10 percent) means having different types of credit — credit cards, installment loans, mortgages — is better than having only one type. New credit inquiries (10 percent) create a small, temporary dip when you apply for a loan or card, but the impact fades after a few months.

Why your score varies between lenders

You do not have one FICO score. FICO produces multiple versions, and different industries use different versions. FICO 8 is standard for credit cards and personal loans. FICO 2, 4, and 5 are used by mortgage lenders. Auto lenders sometimes use FICO Auto Score. Each version weights the five categories slightly differently, so your score for a mortgage application may differ from your score for a credit card application.

Additionally, the three credit bureaus — Equifax, Experian, and TransUnion — may have slightly different information about you, so your score can vary depending which bureau the lender pulls from. You are may have access to to one free credit report per year from each bureau at annualcreditreport.com. Checking your own report does not lower your score, but when a lender checks it, that inquiry may cause a small dip.

How to know if your score is good enough for what you want

The most direct way is to ask the lender. If you are shopping for a mortgage, call a few lenders and ask what credit score range they prefer. If you are applying for a credit card, the card issuer's website often lists the score range they target. For auto loans, dealerships and credit unions have different thresholds. There is no universal "good" score — it is good if it gets you approved at a rate you can afford.

If your score is below 670, you have options. You can work on improving it before applying — paying down balances and making on-time payments for several months can move the needle. You can also look for lenders who specialize in lower scores, though they typically charge higher interest rates. Some credit unions offer loans to members with scores below 620. Some mortgage programs, including FHA loans, accept scores as low as 580.

Common misconceptions about FICO scores

A zero credit card balance is not better than a low balance. Carrying a small balance (under 30 percent of your limit) and paying it on time actually helps your score more than paying it off entirely each month, because the score rewards active credit use. However, this does not mean you should carry debt to build credit — the interest you pay far outweighs the score benefit.

Closing old credit cards does not help your score, even if you are trying to simplify your finances. Closing an account lowers your total available credit and can raise your utilization percentage on remaining cards. If you want to close a card, do it after your score has recovered from other recent changes.

Checking your own credit score or report does not lower it. Only inquiries from lenders (called "hard inquiries") affect your score. Checking your own score is a "soft inquiry" and has no impact. You should check your report regularly — errors on your report can lower your score unfairly, and you have the right to dispute them.

Frequently Asked Questions

Is 650 a good credit score?

650 falls in the "fair" range, not "good." Some lenders will work with you at 650, particularly for auto loans or FHA mortgages, but you will likely face higher interest rates than someone with a 700 score. If you are planning to borrow soon, improving your score to 670+ before applying can save you money.

How long does it take to raise your credit score?

It depends on what is hurting your score. A recent late payment can take 6 to 12 months to stop affecting you significantly, though it stays on your report for seven years. Paying down high credit card balances can improve your score within one or two billing cycles. Building credit from scratch takes longer — typically 6 months to a year of on-time payments before you have a meaningful score.

Can I get a mortgage with a 620 credit score?

Yes, FHA loans accept scores as low as 580, and some conventional lenders will work with 620. However, you will pay a higher interest rate and may need a larger down payment. Shopping around matters — different lenders have different minimums, and the difference in rate between 620 and 680 can cost you tens of thousands over the life of a 30-year mortgage.

Does paying off debt hurt my credit score?

Paying off debt generally helps your score by lowering your credit utilization. The only exception is if you close the account after paying it off — closing an account can temporarily lower your score because it reduces your available credit. Keep the account open even after the balance is zero.

Why is my FICO score different from my credit score on my bank's website?

Your bank may show you a different credit score model — VantageScore, for example — rather than FICO. VantageScore uses different calculations and produces different numbers. Lenders typically use FICO, so that is the score that matters most for borrowing decisions. You can see your FICO score through some credit card issuers, credit monitoring services, or by purchasing it directly from FICO.