Doug's Credit Center Blog

What is a Good Credit Score?


Looking through your credit scores, you see quite a few numbers. At some points, you might even become overwhelmed by everything that you see. On top of that, you also do not really know what credit scores are good. What are the numbers that you should look for, and how can you know what a good score really is?

The Facts

When you are going to apply for an auto finance loan or some other type of loan, you need to know the facts about credit scores. Remember, depending upon the lender and other factors, the exact definition of “good” is going to vary. However, if you are in the 650 to 750 range, you usually qualify as having good credit. Again, the factors listed below can impact how “good” the number really is.:

  • The entity reporting the score
  • The agency reporting the score
  • The exact credit score

The Low End of The Range

Now, if you are in the 600 to 650 score, you can generally still qualify for a vast number of bad credit car loans and other financial opportunities. However, you might have to provide larger down payments, and you may have to opt for loans of a smaller amount. Still, the good news is that you can qualify. You may also have to pay higher interest rates than people who fall above that 650 mark, so be sure to account for those charges in your budget.

The High End of The Range

If your credit scores are above 700, you are really in a good position. The 700 to 750 range is significantly better than the 650-699 range, so you should pat yourself on the back. With scores in this range, you will qualify for some of the best loans and best interest rates. On top of that, you do not have to deal with as much anxiety over whether or not you are going to qualify for the loan in the first place. What’s another benefit of your credit scores? You are slowly inching your way into the excellent range, which is truly a wonderful place to be.

Many people wonder if their credit scores are good and what numbers allow for scores in this range. Fortunately, even if your scores are below where they should be, problems exist that can help you achieve your financial goals.


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