What is a Good Credit Score? (And How to Get One)

Your credit score is one of the most important numbers in your financial life. It determines whether you get approved for loans, what interest rates you pay, and sometimes even whether you get a job or apartment.

What is a Credit Score?

A credit score is a three-digit number between 300 and 850 that represents your creditworthiness. The most widely used scoring model is the FICO score.

What is Considered a Good Credit Score?

• 800–850 — Exceptional: Best rates on loans, credit cards, and mortgages.
• 740–799 — Very Good: Near-best rates. Most lenders will compete for your business.
• 670–739 — Good: Qualifies for most mainstream loan products at reasonable rates.
• 580–669 — Fair: Some lenders will work with you, but at higher rates.
• 300–579 — Poor: Difficulty getting approved. Focus on rebuilding.

A score of 700+ is widely considered “good.” A score of 740+ gets you the best mortgage rates, which can save you tens of thousands of dollars over the life of a home loan.

What Makes Up Your Credit Score?

• Payment History (35%): The single most important factor.
• Credit Utilization (30%): Keep it below 30% — ideally below 10%.
• Length of Credit History (15%): Older accounts help.
• Credit Mix (10%): Having a variety of credit types helps slightly.
• New Credit / Inquiries (10%): Applying for multiple accounts in a short time lowers your score temporarily.

How to Build a Good Credit Score Fast

1. Pay Every Bill On Time

Payment history is 35% of your score. Set up autopay for at least the minimum payment on every account. Even one 30-day late payment can drop your score by 60–110 points.

2. Slash Your Credit Utilization

Pay down balances to get below 30%, then below 10% for maximum impact. This can raise your score within a single billing cycle.

3. Don’t Close Old Accounts

Closing an old credit card reduces your available credit and shortens your average account age. Keep old accounts open, even if you rarely use them.

4. Dispute Credit Report Errors

One in five credit reports contains errors. Get your free reports at AnnualCreditReport.com and dispute anything inaccurate.

5. Become an Authorized User

Ask a trusted person with good credit to add you as an authorized user on their oldest credit card. Their positive payment history gets added to your report.

6. Get a Secured Credit Card

A secured card (where you deposit $200–$500 as collateral) is the fastest way to start building credit from scratch. Use it for small purchases and pay in full monthly.

Q: How often does my credit score update?

Your credit score updates whenever your lenders report new information — typically once a month. Changes you make today will usually show up within 30–45 days.

Q: Does checking my own credit score lower it?

No. Checking your own score is a “soft inquiry” with zero impact on your score.

The Bottom Line

A good credit score is built through consistent habits: pay on time, keep balances low, and don’t apply for lots of new credit at once. Use our Credit Score Estimator to see where you stand.