What is a good credit score?

Credit scores in general are numbers that lenders and credit card companies use to see how “credit worthy” you are (ie, will you pay the money they lend back). Banks or car dealerships will look at your credit score as one of the factors when deciding whether to give you a loan, as well as the terms of the loan. “Good” can be very different depending on your context, financial situation, and where you are.

The two main credit scores, FICO and VantageScore, start at 300 and go all the way up to 850, with different rungs up the ladder.

Here is how the different rankings break down.

FICO score ranges:

• Below 580: poor
• 580 to 669: fair
• 670 to 739: good
• 740 to 799: very good
• 800 and above: Exceptional

VantageScore ranges:

• 300 to 600: subprime
• 601 to 660: near prime
• 661 to 780: prime
• 781 to 850: superprime

The higher your credit score, the better you look on paper to different lenders. On the other hand, the lower your credit score, the riskier you look to them, making it harder to get lines of credit or loans.

If your credit score is in the high 600s or up, congrats – you’re in the “good” credit range! If your credit score is lower, that might mean you haven’t shown positive credit behavior for long enough.