Credit Score Ranges Explained

Before finding out what different credit score ranges mean, it’s necessary to know that you have more than one credit score because there are multiple scoring models, like FICO and VantageScore.

FICO has two types of credit scores—base FICO scores (predict the likelihood of a consumer not making a payment in the future as agreed) and industry-specific FICO scores (customize credit scores for specific lenders, like credit card issuers or auto lenders). Base FICO score (FICO 8 and 9) ranges are:

  • excellent (800–850)
  • very good (740–799)
  • good (670–739)
  • fair (580–669)
  • poor (300–579)

Industry-specific FICO score ranges are classified as:

  • excellent (800–900)
  • very good (740–799)
  • good (670–739)
  • fair (580–669)
  • poor (250–579)

On the other hand, VantageScore 3.0 ranges are:

  • excellent (781–850)
  • good (661–780)
  • fair (601–660)
  • poor (300–600)

What Different Credit Score Ranges Represent

Whether it’s your FICO score or VantageScore, here is what the different credit score ranges, arranged from highest to lowest, typically signify:

  • Very good and excellent (above mid-700s)

It’s unlikely for people falling in these two ranges to have their loan application denied because of their scores. These applicants have greater chances of being offered a low-interest rate, and usually have more options concerning repayment periods and the like.

  • Fair to good (low-600s to mid-700s)

If you belong to this range, you’re likely to be approved for several financial products and can compare offers from different lenders. However, you stand the chance of not getting the best terms.

  • Poor (300 to low-600s)

If you’re someone with a poor credit score, there’s a possibility that you may not be given an unsecured credit card or loan. Even if a lender approves your application, it’s likely that you won’t get the lowest interest rate or best terms.

Remember that the same score may mean two different things based on the scoring model being followed. For instance, a score of 661 may put you in the good range as per the VantageScore 3.0 model and in the fair range according to the FICO scoring model.

Factors Influencing Credit Scores

Your credit score is made up of different constituents, including the amount of debt you have in relation to your credit limit, your payment history (whether you make timely payments), the types of credit you have (credit mix), and the length of your credit history (how long since your credit accounts have been open).