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.