If you have bad or fair credit, follow these tips to improve your credit score. Card issuers consider more factors than just your credit score, including income and monthly housing payments. Below, Select explains what a good credit score is for FICO and VantageScore, how a good credit score can help you, tips for a good credit score, and how you can check your score for free. Below, Select explains what a good credit score is for FICO and VantageScore, how a good credit score can help you, tips for a good credit score, and how you can check your score for free.
Although the areas vary depending on the credit scoring model, credit scores of 580 to 669 are generally considered fair, 670 to 739 good, 740 to 799 very good, and 800 and more as excellent.
What is a good credit score by age?
There are multiple rating systems within the FICO model, including scores for specific industries such as automotive, credit cards, and mortgages. After a difficult year, it’s comforting to know that the credit rating is still rising both overall and across every state and generation. In your 30s, your credit score may increase because you’ve had a decade or more to build a good payment history and extend your credit history. When lenders see that you’re using loans responsibly in a variety of ways — credit card loans, student loans, home loans, auto loans, etc.
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Barry Ritholtz is a renowned finance expert, author and blogger. With over 30 years of experience in the financial industry he has gained a reputation as a thought leader and influencer in the investment community.