Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Scores
Profile Image

Question By

0 Contributions
0 People Helped
What is a good credit score?
Credit Karma’s Response Watch and Learn. View More Videos

What Is A Good Credit Score?

How high of a credit score do you need to get the best rates? It varies, but 720 might be your magic number.

Disclaimer: This video provides general information about credit and is not intended to advise about your personal financial situation. Consult a financial, legal or other professional adviser. In other words, someone who's not a video.

Disclaimer: This video provides general information about credit and is not intended to advise about your personal financial situation. Consult a financial, legal or other professional adviser.

All Responses

Results 1-10 of 22Results per page: 5 | 10 | 25Page 1 of 3   Previous | Next
1 Contribution
4 People Helped

Helpful to 4 out of 5 people

A month ago my scores were 666 TU - 642 Exp - 641 Eqfx ... My proposed lender pulled my experian report (I know, because I pulled my report and saw the inquiry) they said my score was a 594 !?!?! How is that possible? .. I've since cleared up 3 major issues on my report and my scores are now 709 TU & 709 Experian (Haven't checked Equifax)... How am I supposed to know what's real? It seems arbitrary and the scores that consumers can access are worthless.

Top Contributor
10 Contributions
47 People Helped
Most Helpful Response

Helpful to 3 out of 3 people

With most credit scores, the higher the credit score, the better it is. However, a "good" credit score can be difficult to define since lenders have differing perspectives on what they think is a good credit score. Banks and financial institutions determine their best rates based on their own assessment of their customers. As such, definitions will change from lender to lender and industry to industry.

The recent economic turmoil provides a perfect illustration of a changing definition. Back in the housing boom, a credit score of 680 was often considered "good" enough for a mortgage at the best rate or near the best rate. Today, homeowners will often need a credit score of 720 up to 750 to qualify for some loans.

In general, good credit scores are based on how much risk a lender is willing to take in the form of loans. On an aggregate level here are some general views on credit score ranges and how they are perceived by most lenders. Keep in mind it always completely up to the lender.

I found the following somewhere and would use it as a guide:

Poor: 300-549 - Not considered credit worthy. Will not qualify for most loans unless it is co-signed or secured.

Fair: 550-639 - Considered sub-prime by many lenders. Will see limited credit card and auto loan approval. No home loans. High interest rates.

Good: 640-719 - Considered a good credit score in most industries. Will be approved for most credit cards, most auto loans, and some home loans. Will not be at the best interest rate.

Excellent: 720-850 - Considered the highest credit quality. Should qualify for the majority for loans. With credit crunch some lenders require 750+ now to receive best pricing.

7 Contributions
349 People Helped

Helpful to 3 out of 4 people

Either way anniebaby your credit score of 740 should soon be at 750 or better which will qualify you across the board!

Top Contributor
24 Contributions
39 People Helped

Helpful to 1 out of 1 people

its amazing what I have learned thru reading on credit karma. I just have to say Thanks to everyone for their comments and I am learning everyday something new in here!

1 Contribution
1 Person Helped

Helpful to 1 out of 1 people

seems to me that paying down ones own debt will bring down THE score. i own my truck and my bikes,used cash. payed off my house this year, 13yrs early. and have money in my checking/savings/cd fund and owe no one nothing. and alls i get is a score of 686 or FAIR. and to think of all the money i saved just paying off my house. their game and rules i guess. i'll stick with cash and just keep buying rare gold coins, worked for me.

1 Contribution
0 People Helped

Why is my credit score 724 here and 695 on the truecredit website for transunion? And why is a 724 here considered a B, where a 695 is considered a D? If I needed to get a bank loan, would they check this website or truecredit? How do I know which credit score is right?


As of Jan, 2010, TrueCredit moved to the Vantage Score system which differs from our system. Both score are right although, there is seems to be a very large discrepancy in the relative range. Are you sure both scores are the most recent?

Review by
CK Moderator

1 Contribution
0 People Helped

According to your figures my credit score is 666, fair, and by your charts anything over 639 is good. Why is my credit listed as fair?

1 Contribution
0 People Helped

On your listing as to what the credit scores mean, whether they are fair or good ect., you have 640-719 listed as good. Yet when I look at my credit score which is 699, you say that it is fair. So why do you say it is fair and not good?

Ratings are constantly in flux based on lenders and the economy. We will review our ratings to ensure more consistency in this credit environment.

Review by
CK Moderator

2 Contributions
2 People Helped

Helpful to 2 out of 4 people

Under the "How Lenders View Your Credit" my score (740) falls in the "Good Category." On the "What is a good credit score" question, it's considered "Excellent." Why the difference? Thanks.

Top Contributor
21 Contributions
54 People Helped

Something probably better than mine! ;)

Results 1-10 of 22Results per page: 5 | 10 | 25Page 1 of 3   Previous | Next

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.