Credit Q&A: What Is a Good Score?

Q: My credit score is currently hovering around 750. Is that a good score?

A: That depends on what credit score is it is you are looking at, because, as we’ve mentioned before, there is more than one model out there.

If it’s a VantageScore, which operates on a scale of 500 to 990, then it’s a pretty middle-of-the-road score. This model actually assigns grades to its score:

  • A: 901—990
  • B: 801—900
  • C: 701—800
  • D: 601—700
  • F: 501—600 (High Risk)

If it’s a FICO score, which ranges from 300 to 850, than it’s close to greatness. As reported, those with a FICO score above 760 are typically privy to the same benefits as those with perfect credit, while those with scores of 600 and below are most likely going to have a hard time getting a loan.

FICO refrains from providing a more concrete scale because as it explains on its website “it’s hard to say what is a good [score] is outside the context of a particular lending decision. For example, one auto lender may offer lower interest rates to people with [scores] above, say, 680, while another lender may use 720 and so on.”

Those who are confused by varying credit scoring models don’t necessarily need to be. Each provider, whether it be FICO,  VantageScore, one of the major credit bureaus or another service, typically includes an accompanying analysis of the score that will tell you how high-risk a lender likely considers you.

Additionally, most credit reports will highlight at least five factors driving your score up or down, which essentially provides a road map for how you can improve your credit profile.

“The idea is not to focus on the score, but instead on what you can do to improve it,” Maxine Sweet, a spokeswoman for Experian, told us in May.