WHAT IS YOUR CREDIT SCORE
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The credit score range is 300 to 850, with 850 being the best credit score you can have and 300 being the worst. A good credit score is anything from 700 to 749, while even higher scores considered "excellent" or perfect credit.
All of the most popular credit-scoring models, including those from VantageScore and FICO, now use that 300-to-850 credit score scale. That’s good because knowing the possibilities for what a credit score could be is the first step toward truly understanding what your credit score means.
To help you better understand the significance of your score, whichever it happens to be, WalletHub analyzed every single credit score from 300 to 850. Below, you can take a closer look at the different tiers in the credit score range, learn everything you need to know about your particular score, and see what steps you can take to improve.
Perfect Credit (800-850)
Membership in the 800+ credit score club is quite exclusive, with fewer than 1 in 6 people boasting a score that high, according to WalletHub data.
A credit score of 800 or higher indicates that you’ve been using loans, credit cards and other lines of credit responsibly for many years, paying your monthly bills on time and keeping your credit report clear of negative information. An 800+ credit score also means you are keeping your credit utilization ratio low, as the average ratio among people with an 800+ score or higher is 6%, according to Experian.
Excellent Credit (750-799)
A credit score of 750 to 799 qualifies as “excellent” and should qualify you for most loans, credit cards and other lines of credit. People with a 750 credit score have an average utilization ratio of 18.5% and only about a 1% chance of becoming seriously delinquent in the future, according to Experian. You won’t always get the best terms, though.
Having excellent credit won’t always get you the best terms on loans and credit cards, though. That’s because a 750-799 credit score isn’t quite “perfect” credit. But it’s a lot closer than you might think, to both credit perfection and plain old “good” credit. So you might want to double-check your latest credit score to see exactly where you stand.
Good Credit (700-749)
Good credit is generally defined as a credit score above 660/670. However, based on the approval rates we’ve seen for credit cards and loans, we believe it’s wise to skew the tiers a bit higher. More specifically, consider a good credit score to be 700 to 749, with 750+ being excellent.
It’s possible to get a credit card that requires good credit or better with a credit score of 670, for example, but you probably won’t have good approval odds unless your score is 700+.
Lenders always have the final say, though, and they don’t all define good credit the same way. To learn more, check out WalletHub’s good credit score guide.
Fair Credit (640-699)
A credit score of 640-699 is not a good credit score, unfortunately. You need a score of at least 700 to have “good” credit. But a 640-699 credit score isn’t “bad,” either. It’s actually in the “fair” credit tier.
As a result, you should be able to get a credit card or loan with a 640-699 credit score. However, since 87% of people with a 640 credit score have late payments that are 30 days past-due on their credit report, you may face higher interest rates and lower approval odds compared to someone with a higher credit score. But a little bit of credit improvement will give you many more options and help you save a lot more money
Poor Credit (571-639)
A credit score of 571-639 isn’t “good.” It’s not even “fair.” Rather, a 571-639 credit score is actually considered “poor,” according to the standard 300 to 850 credit-score scale.
Such a score will make it difficult to get approved for a decent loan or line of credit and could even prevent you from renting an apartment or landing certain jobs. It also figures to cost you thousands of dollars each year compared to someone with excellent credit. For example, someone with a poor credit score can end up paying about $2,800 more pera year on a $350,000 mortgage than someone with an 800+ credit score.
Very Poor Credit (500-570)
A credit score of 500-570 is classified as “very poor” on the standard 300-to-850 scale. It is 130-200 points away from being a “good” credit score, which many people use as a benchmark, and 70-140 points from being “fair.”
Such a credit score won’t knock any lenders’ socks off, but it shouldn’t completely prevent you from being approved for a credit card or loan, either. For example, roughly 1 in 6 people with a credit score below 620 who apply for a general-purpose credit card get approved, according to the Consumer Financial Protection Bureau.
Bad Credit (400-499)
A credit score of 400 to 499 is a bad credit score, unfortunately, as it’s a lot closer to the lowest score possible (300) than the highest credit score (850). It indicates that you’ve had payment problems in the past, perhaps even to the extent of going through bankruptcy or having your home foreclosed. You may also have maxed out your credit cards, too. People with a 400 credit score have an average credit utilization ratio of more than 100%, according to Experian. And that signals risk to potential lenders.
As a result, a 400-499 credit score will make it difficult to qualify for a loan or unsecured credit card. You will need to focus on rebuilding your credit reputation before trying to get a mortgage, car loan, etc.
Very Bad Credit (300-399)
A score of 300-399 is as low as you can go on the credit score range, and it will make borrowing very difficult and expensive. But such a score doesn’t have to be permanent.
Sure, turning a 300-399 credit score into a good credit score isn’t easy, considering you need a score of 700+ for that. Fair credit doesn’t even start until you reach a score of 640. But you’re neither alone nor without hope. Nearly 5% of people’s credit scores are below 500, according to WalletHub data. And there are many steps you can take — both big and small — to improve your credit score and keep it heading higher long term.
You can see what the steps to take in WalletHub’s guide on how to improve your credit score, in addition to checking out the tips below.
Increasing your credit score to the next rung on the credit score ladder, such as going from fair credit to good credit, can improve your odds of getting approved for a loan or credit card and increase the likelihood of getting a low interest rate. The tips below can help you work your way up to the next credit score tier.
Make On-Time Payments
Payment history is the most important factor in determining your credit score. By consistently making on-time payments, you can fill your credit report with positive information that can boost your credit score to the next level.
Keep Your Credit Card Balances Low
Your credit utilization ratio is the percentage of your total credit limit that you are currently using. When you keep your credit card balances low compared to your credit limit, you can maintain a low credit utilization ratio and improve your credit score.
In fact, reducing your credit utilization is one of the best ways to improve your credit score quickly. Perfect credit scores tend to have a utilization ratio in the single digits.
Don’t Apply for Multiple Credit Accounts at Once
Using a credit card responsibly is one of the best ways to build credit, but you shouldn’t go overboard. Every time you apply for a new credit card or loan, a hard inquiry is placed on your credit report. This hard inquiry can ding your credit score a couple few points temporarily. However, applying for multiple credit accounts at once can drop your credit score even further.
Become an Authorized User
If you are having trouble getting approved for a credit card on your own, becoming an authorized user on a trusted friend’s or family member’s credit account can be an easy way to add positive information to your credit reports and improve your credit standing. As long as the primary cardholder pays their credit card bills on time, your credit score can benefit from their responsible credit card use.
Monitor Your Credit
Monitoring your credit can help you quickly spot errors or fraudulent activity on your credit report that you can fix before they cause major damage to your credit. You can regularly review your credit report for any errors if you want to handle this manually. You can also sign up for a free 24/7 monitoring service, such as WalletHub, that will notify you of any suspicious activity on your credit report.
Learn more about how to improve your credit.
Key Facts About the Credit Score Range
All of the most popular credit-scoring models, including VantageScore 3.0 and FICO Score 8, now use that 300-to-850 credit score scale. But that hasn’t always been the case, and some alternate credit score ranges are still in use today. For example, FICO’s Auto and Bankcard scores range from 250 to 900.
Here are some additional fun facts about the credit score range:
- 800+ is considered a perfect credit score.
- 33 states have average credit scores above 700, according to WalletHub data.
- Minnesota is the state with the highest average credit score, at 726.
- Mississippi has the lowest average credit score, at 670.
- A payment that is at least 30 days late may impact your credit score for up to seven years.
- Credit card users with credit scores below 620 pay two to four times more in interest and fees than those with scores above 720, according to the Consumer Financial Protection Bureau.
For more information, check out our credit score guide.
Credit Score Range FAQ
Get answers to your questions about Credit Score Range below. Editorial and user-generated content is not provided, reviewed or endorsed by this issuer. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. In addition, WalletHub independently collected information for some of the cards on this page. Ad Disclosure
What are the best credit cards for credit scores above 800?
The best credit card for credit scores above 800 is the Chase Sapphire Preferred® Card, since it offers 1 - 5 points per $1 on purchases, plus a bonus of 75,000 points for spending $5,000 on purchases in the first 3 months. Together, these rewards can save a frequent traveler over $2,000 in the first two years.
Best Credit Cards for an 800+ Credit Score
An 800+ credit score is considered excellent, so you should qualify for most of the best credit cards with that score. Still, a credit score above 800...
My credit score is 480 what kinda loan can I get?
How can I find out my credit score
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What credit score do you need for most credit cards?
You need a credit score of 700 or higher to have good odds of being approved for most credit cards, as most cards require good credit or better. There are credit cards designed for people with lower credit scores, too, but there aren't as many to choose from. Still, even if you have no credit history or a bad credit score, you should be able to find a suitable credit card.
If you're not...
What is a good credit score for a credit card?
A good credit score for a credit card is 700 to 749+. A credit score in this range gives an applicant good odds of being approved for one of the best credit cards on the market, which generally require at least good credit as well as enough income to afford monthly bill payments.
You can check your credit score and get personalized credit-improvement tips for free right here on WalletHub. We'll also recommend good credit cards for your credit profile.