What Is a Good Credit Score? The Ranges Explained
800+ is excellent but 740+ gets you the best rates. Here is what each range means.
FICO score ranges: 800-850 Exceptional (top rates, instant approvals). 740-799 Very Good (qualifies for best rates). 670-739 Good (approved for most products). 580-669 Fair (higher rates, some denials). 300-579 Poor (limited options, high rates or denials). The biggest jump in benefits happens at 740 — this is where you unlock the lowest mortgage rates, best credit cards, and easiest approvals.
What Each Range Costs You
On a $300,000 30-year mortgage: 760+ credit score gets 6.0% ($1,799/month). 700-759 gets 6.5% ($1,896/month). 660-699 gets 7.0% ($1,996/month). 620-659 gets 7.5% ($2,098/month). The difference between 760 and 620: $299/month or $107,640 over the life of the loan. Your credit score is literally worth six figures.