What is a Good Credit Score Number? And How to Acquire One?

Having and maintaining a good credit score number can help you lower expenses when applying for a loan like mortgage or car.

What is a good credit score number? Getting a good credit score is a very important task to achieve, especially if you plan to borrow money.

However, putting a specific value on what is a good credit score number is quite a tricky feat. It’s because lenders have a wide plethora of credit score ranges that they can use.

You may think that your score is good in one standard but not good enough in another. There’s also a factor that you may get a different score entirely, depending on the lender’s preferred scoring scale.

This can greatly affect your success rate in getting a loan (mortgage, auto, etc.), especially at a low interest. Fortunately, there are ways available for you to determine whether your score is good enough or not.

What is a Good Credit Score Number?

what is a good credit score number



Even when you’re not aware of the specific model a lender is using to assess your credit score,
there’s a standard range that you can adopt to determine what’s a good credit score number.

Most lenders use the Fair Isaac Corporation (FICO) scoring scale, the VantageScore 3.0, or the newly released VantageScore 4.0.

These three scoring models use a scoring system 300 as the least and 850 as an excellent score. This range system is divided into categories. The categories are as follows:

  • Bad – score below 600
  • Poor – 600 to 649
  • Fair – 650 to 699
  • Good – 700 to 749
  • Excellent – 750 and above

If you want to receive a “good” credit score in these two models or any similar model, you must stay within or higher the 700 level. However, it is important to note that these ranges are not fixed.

One lender may stick to a limit of 700 and above to consider a good score while another may settle for at least a 675. Another lender may also be stricter and only accept those with scores higher than 749.

Other lenders may also approve borrowers within the “fair” range but will charge higher rates. It all depends on the lender and the circumstances of the agreement for borrowing money.

How Do You Get a Good Credit Score?

Regardless of which scale a lender uses to determine what is a good credit score number, it’s very important that you get a score that most lenders will consider acceptable. To do that, you must pass all factors that lenders check.

Luckily, while credit scoring varies between lenders, they do have a common standard when it comes to dishing out loan approvals. You just need to meet these five standards to get your application approved. Here they are:

  • Payment History – A good payment history covers 35% of FICO credit scores. This means that to get a good credit score, you need to pay your dues on time.
  • Credit Purpose – The purpose of your loan may also affect your chances of approval. It accounts for 30% of your score. Borrowing money to pay for an existing debt is not a good credit purpose.
  • Credit History Length – How long you’ve been maintaining credit also affects your score. It takes 10% of your credit score. The longer your credit history is, the higher chances you will get approved.
  • Accounts – It is also good to maintain a mix of credit accounts. You can have installment loans, revolving loans, etc. The diversity of your loans adds 10% to your score.
  • New Credit – How often you apply for loans also affects your score. Applying for multiple loans within short intervals may not be as appealing to lenders.


If you want to gain a good credit score, stay cautious of your loans and be a responsible borrower. If you leave a good impression on all your loans, lenders will not be so hesitant to approve future applications.

FICO vantagescore VantageScore 3.0 vantagescore 4.0 what is a good credit score number
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