Good Credit Score Range

What is your credit score? Do you have a 670 score? Is that good enough to get an auto loan? What kind of credit score do you need to buy a home? Is a 700 credit score good enough? How does your compare against people your own age or in your own state? What is the good credit score range?

There are tons of questions when it comes to knowing what’s in your credit report and how that data gets put into a formula and out comes your credit scores from Transunion, Equifax, and Experian.

Lenders then use this information to decide to lend you money or not and at what interest rate. Your score is one main factor that determines if you can buy a car, truck or SUV, get a home mortgage, or if you have a mortgage already, if you can refinance your mortgage and take advantage of historic low interest rates and lower your monthly mortgage payment, if you can get approved for a credit card or line of credit or personal loan.

Having a score in the good credit score range will help you get a 1.9%, 2.9% or 3.9% APR interest rate for an auto loan. While having a below average or poor credit score will ensure you have to come up with a larger down payment and pay a double digit interest rate such as 14%, 18% or even 20%!

So what kind of scores fall in the good credit score range?

Transunion, Equifax, and Experian scores from 670 and up qualify as good scores. So if you have a FICO credit score of 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 701 702 703 704 705 706 707 708 709 710 711 712 713 714 715 716 717 718 719 720 721 723 724 725 726 727 728 729 730 731 732 733 734 735 736 737 738 739 you have a good credit score and can qualify for some of the best interest rates when you want to buy a home, car, or boat and refinance your mortgage, get approved for a good rewards credit card, or obtain a line of credit for your small business.

what is a good credit score

what is a good credit score

 

If you happen to have a credit score from 740 741 742 743 744 745 746 747 748 749 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 792 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 811 812 813 814 815 816 817 818 819 820 821 822 823 824 825 826 827 828 829 830 831 832 833 834 835 836 837 838 839 840 841 842 843 844 845 846 847 848 849 to 850 you will have what is considered an excellent credit score and can pretty much buy and get approved for whatever you want. But if you have a credit score in this range you have shown good financial discipline and have not been spending too much money on wasteful things.

What about the average credit score range? Credit scores can vary based on age and location. The average credit score of 18-24 year olds is 638 which does not fall in the good credit score range while the average score of 45-54 year olds is 685 which does fall in the good credit score range.

And then you can compare national average credit scores. The average credit score in Texas is 664 while the average credit score in California is 685. In Florida it’s 668 and in New York it’s 683. (Source: Credit Karma)

To answer the question about what credit score you need to get an auto loan, you can qualify with scores in the 500s but you will have to come up with a larger down payment, show a longer job history, and pay a higher interest rate.

Now you know what scores fall in the good credit score range. You can take the next 2 minutes and find out all 3 credit scores free from Experian, Equifax, and Transunion credit reporting bureaus.

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