What exactly is a good credit score?

A good credit score typically ranges from 670 to 739, based on the commonly used FICO scoring model. However, credit score requirements can vary depending on the lender or type of credit you are seeking.

Generally, the higher your credit score, the better your chances of being approved for credit and receiving favorable terms and interest rates. For example, a score above 700 is typically considered good and may qualify you for lower interest rates and better credit terms.

It’s important to note that credit scores can fluctuate over time and may differ between credit reporting agencies. To maintain a good credit score, it’s important to make timely payments on credit accounts, keep credit card balances low, and avoid opening too many new credit accounts at once.

  • 800-850: Exceptional.
  • 740-740: Very good.
  • 670-739: Good.
  • 580-669: Fair.
  • 300-579: Poor.


Easy methods to raise your credit score:

 Only fair credit is regarded as having a credit score of 700. However, by following a few simple actions, you may easily raise your credit score.

  1. Verify the accuracy of your credit score:
  2. Reporting any inaccuracies that may be intentionally decreasing your score is the quickest method to raise it. Every year, review your credit report and notify the credit agency that generated it of any inaccuracies. Correcting errors as soon as feasible is crucial because doing so might take some time.

  3. Maintain a minimal credit balance:
  4. Your credit score may suffer if you borrow more than 30% of your available credit. Try to maintain a credit balance below this amount. Requesting a larger credit limit from your credit card company is a smart move. If the business agrees, it will be simpler for you to maintain a credit utilization ratio below the 30% limit.

  5. Make consistent, timely payments:
  6. Pay your bills on time every time. You could think about using your bank to set up automatic payments. Although it could take some time for consistent payments to improve your credit, this is still the most important aspect in establishing your final score.

  7. Eliminate collection accounts:
  8. Your credit may be badly impacted by unpaid obligations. That is particularly true if your debt is collected. While paying off your debt will somewhat lower your credit score, it will also start you on the path to repairing your credit. Additionally, it will prevent you from being sued for any outstanding debt, which can cause extra issues.

How to raise your credit score:

 Building credit takes time, but the most essential steps to take are as follows:

  1. Punctually pay your expenses.
  2. Pay down your credit cards’ outstanding balances.
  3. Avoid requesting more credit lines.
  4. Maintain a modest rate of credit card usage.
  5. Hold onto your previous credit card accounts.
  6. Periodically check your credit records for fraud.


In conclusion, a good credit score is typically considered to be in the range of 670 to 739, although specific requirements can vary depending on the lender or type of credit you are seeking. Maintaining a good credit score is important for obtaining credit and favorable terms and interest rates. It’s important to make timely payments, keep credit card balances low, and avoid opening too many new credit accounts at once to maintain a good credit score.

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