Credit score ranges: What they are and what they mean

Credit scores give an indication of how healthy a person’s credit is and how likely they are to pay back their debts on time. Anytime you apply to borrow money—whether you’re using it to buy a home, lease a car or get a credit card—lenders might consider your credit scores.

What you’ll learn:

• Credit-scoring companies like FICO® and VantageScore® calculate credit scores based on information in your credit reports.

• Factors used to calculate credit scores include payment history, total debt, credit age, credit mix and recent applications.

• Typical credit scores range from 300 to 850.  

• Each credit-scoring company describes different categories within that range, but generally the higher the credit score the better.

Credit-scoring companies FICO and VantageScore produce general credit scores that range from 300 to 850, and each company breaks that range down into several smaller categories. For the borrower, knowing their credit score range can give an idea of the types of credit cards and interest rates they might qualify for. Lenders use credit scores among other factors to get an idea of a potential borrower’s creditworthiness, or how likely they are to repay their debts.

Exceptional: 800-850

Very good: 740-799

Good: 670-739

Fair: 580-669

Poor: 300-579

Superprime: 781-850

Prime: 661-780

Near prime: 601-660

Subprime: 300-600

According to FICO, a poor credit score is anything below 580. VantageScore’s subprime scores range from 300 to 600. 

If you have bad credit scores, qualifying for new credit or getting a mortgage for a house might be more difficult. And if you can qualify, you might not be able to get the most favorable loan terms.

FICO says fair credit scores range from 580 to 669. VantageScore says fair, or near-prime, scores are between 601 and 660. 

Having fair credit generally puts you near the middle of credit score ranges. It may give you more credit opportunities than poor credit, but improving your credit scores could help you get better terms.

FICO has good (670-739) and very good (740-799) credit score ranges. VantageScore’s good, or prime, credit range is between 661 and 780.

Having a good credit score can help you qualify for more financial products, like home and auto loans and credit cards with better interest rates.

FICO calls its highest score range exceptional. That applies to any score between 800 and 850. VantageScore rates any score from 781 to 850 as superprime. 

Excellent credit scores can help you get the best rates and terms on premium credit cards and loans, mortgages and other lines of credit.

Credit scorers use complex formulas called scoring models. These models use information in credit reports to determine the scores. 

The types of information each credit-scoring model uses are similar. But the importance, or weight, of each factor varies by model. Here are factors the Consumer Financial Protection Bureau (CFPB) says may affect your credit scores: 

• Payment history: Payment history can show how reliable you are with repaying debt.

• Total amounts owed: This considers the amount of unpaid debt you have across all your accounts. Experts recommend keeping your credit utilization below 30% of your available credit.

• Credit age: If you’ve had credit accounts open for a long time, it can indicate that you’re a lower risk to creditors.

• Credit mix: This takes into account revolving credit, like credit cards and lines of credit, and installment loans, like car loans and mortgages. Having a combination of accounts can show you have experience handling multiple loan types. 

• New credit applications: When you apply for new credit, it triggers a hard credit inquiry. This can have a small negative effect on your credit scores. If you have a lot of hard inquiries in a short time, it can give lenders a negative impression.

There are a few places you can go to check your credit scores, including: 

• Your credit card issuer 

• Credit bureaus like Experian®, Equifax® and TransUnion® 

• Credit-scoring companies

• Credit counselors

CreditWise from Capital One lets you check your credit score for free anytime, even if you’re not a Capital One cardholder. Plus, it won’t hurt your credit score. You can also get free copies of your credit reports at AnnualCreditReport.com.

Your credit score range can give you an idea of your credit health. But you don’t necessarily need to achieve any particular milestone before being approved for a credit card. Capital One has credit card options for people at any stage of their credit journey. You can start by comparing Capital One cards.

• See whether you’re pre-approved for credit cards without harming your credit scores. 

• If you’re looking to build your credit with responsible use, explore cards for people with fair credit. 

• Earn cash back on every purchase, every day, with a cash back rewards card. 

• Monitor your credit report and score with CreditWise. It’s free for everyone, and using it won’t hurt your credit.