A credit score between 670 and 739 is generally considered a good credit score on scales ranging from 300 to 850.
Understanding Credit Score Ranges
While a score of 670-739 is considered "good," it's helpful to understand the broader ranges:
| Credit Score Range | Rating |
|---|---|
| 300-579 | Poor |
| 580-669 | Fair |
| 670-739 | Good |
| 740-799 | Very Good |
| 800-850 | Excellent |
Why a "Good" Credit Score Matters
Having a good credit score opens up several advantages:
- Better Interest Rates: You'll likely qualify for lower interest rates on loans, credit cards, and mortgages.
- Higher Approval Odds: Lenders are more likely to approve your applications for credit.
- Better Credit Card Offers: Access to cards with rewards, travel benefits, and other perks.
- Lower Insurance Premiums: In some cases, a good credit score can even lead to lower insurance rates.
Aiming Higher
While a "good" credit score is beneficial, striving for a "very good" (740-799) or "excellent" (800-850) score will unlock even more favorable terms and opportunities.
In summary, a credit score between 670 and 739 is a good starting point, signifying that you're a responsible borrower, but aiming for a higher score will offer even greater financial advantages.
