How to Determine What is a Good Credit Score

What is a good credit score? When it comes time to borrow money for a house, car, or personal loan, people begin thinking about their FICO numbers. In fact, people should think about their credit each and every day. If you don't know where you stand in the eyes of your potential lenders, now is the time to find out. Here you will find out how to determine what is a good credit score.

Instructions

1

Pull your 3 credit reports and FICO scores. Although you are entitled to 3 free reports per year, that does not include your FICO. If you want to know what is a good credit score, however, you need to know where you stand.

2

Throw out the bottom and the top score. The middle is the one most mortgage lender will look at. Perhaps the term, "Throw out", is a bit rash. You must consider the top and bottom numbers to know what is a good credit score for you. Some lenders only pull from 1 financial bureau, so all are important.

3

Understand that FICO can range between 300-850. A score above 700 is considered high. If you want to know what is a good credit score, try to reach even higher. Anyone above 800 is considered fantastic.

4

Break it down even further if you want more explanation about what is a good credit score. Anything above 730 typically gets the best rates. 700-730 is good. 670-699 isn't great, but people can still get loans with decent rates. Anything below 650 is typically considered pretty poor.