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Your credit score affects the interest rates you pay, the apartments you can rent, and sometimes even the jobs you can get. But what counts as a “good” score — and what exactly makes it move up or down? Here is the complete breakdown.
Rates and figures as of May 2026.
Credit Score Ranges (FICO Scale)
Most lenders use the FICO score, which ranges from 300 to 850. Here is how the ranges are generally classified:
| Score Range | Category | What It Means |
|---|---|---|
| 800–850 | Exceptional | Best rates; automatic approvals on most products |
| 740–799 | Very Good | Near-best rates; strong approval odds |
| 670–739 | Good | Competitive rates on most products |
| 580–669 | Fair | Higher rates; some products not available |
| 300–579 | Poor | Very limited options; secured cards or credit-builder loans only |
The average American credit score is around 715 as of 2026 — solidly in the “good” range.
What Makes Up Your FICO Score
Five factors determine your score. Each carries a different weight:
| Factor | Weight | What Counts |
|---|---|---|
| Payment History | 35% | On-time vs. late payments, collections, bankruptcies |
| Amounts Owed (Utilization) | 30% | How much of your available credit you are using |
| Length of Credit History | 15% | Age of oldest account, newest account, average age |
| Credit Mix | 10% | Mix of revolving (cards) and installment (loans) accounts |
| New Credit | 10% | Recent applications and hard inquiries |
What You Need by Loan or Product Type
Different lenders have different minimums depending on the product:
| Product | Minimum Score | Best Rates Start At |
|---|---|---|
| Conventional mortgage | 620 | 740+ |
| FHA loan | 500 (10% down) / 580 (3.5% down) | N/A |
| Auto loan (best rates) | 661 | 720+ |
| Personal loan (prime rate) | 670 | 720+ |
| Premium travel credit card | 700 | 740+ |
| Balance transfer card (0% APR) | 670 | 690+ |
| Apartment rental | 620–650 (varies by landlord) | N/A |
How to Check Your Credit Score for Free
- AnnualCreditReport.com: The official federally mandated source for your full credit report from all three bureaus (Equifax, Experian, TransUnion). Free weekly access.
- Credit card issuers: Most major cards (Chase, Discover, Capital One, Citi) show your FICO or VantageScore for free in your account portal.
- Credit Karma / Credit Sesame: Free VantageScore — not the same as FICO but directionally accurate.
Note: You have multiple credit scores (different FICO versions, VantageScore, scores from each bureau). The one a lender pulls may differ from what you see on a monitoring app, but they should be in the same ballpark.
The Fastest Ways to Improve Your Credit Score
- Pay every bill on time. Even one 30-day late payment can drop your score 50 to 100 points. Set up autopay for at least the minimum due.
- Lower your utilization. Aim to use less than 30% of your available credit across all cards — ideally under 10% for the highest scores. Paying down balances or requesting a credit limit increase both help.
- Do not close old accounts. Closing a card reduces your available credit and shortens your average account age — both hurt your score.
- Dispute errors. About 1 in 5 Americans has an error on their credit report. Errors can depress your score significantly. Dispute them at the bureau’s website (Equifax.com, Experian.com, TransUnion.com).
- Limit hard inquiries. Each new credit application triggers a hard pull. Multiple applications in a short period signal risk to lenders.
Key Takeaways
- 670 to 739 is “good”; 740 and above unlocks the best rates on most products
- Payment history (35%) and credit utilization (30%) are the two biggest factors — fix those first
- Check your full credit report annually for errors; dispute anything that is inaccurate
- Checking your own score does not hurt it — only hard inquiries from lenders do
- You do not need a perfect 850; even 740 typically gets you the best available rates