FICO labels 740 and above Very Good or better, 670 to 739 Good, 580 to 669 Fair and below 580 Poor. Most partner lenders look for fair or better. Payment history and amounts owed make up about two-thirds of a score, so on-time payments and low balances are the fastest path to better offers.
On this page
- FICO ranges
- What the ranges usually mean when you borrow
- What moves a score
- Get your reports
- Reading your report like a lender
- Moves that help within 60 days
- Moves that help over a year
- Score types
- What lenders see beyond the score
- Reading the five factors
- Free ways to build in the Carolinas
- Beware of credit repair promises
- Quick reference
- Related pages
- Frequently asked questions
FICO ranges
Base FICO Scores run from 300 to 850. FICO labels below 580 as Poor, 580 to 669 Fair, 670 to 739 Good, 740 to 799 Very Good and 800 and up Exceptional.
What the ranges usually mean when you borrow
| Range | Typical situation |
|---|---|
| 740 and above | Many lenders will consider you; focus on fees and terms |
| 670 to 739 | Broad choice; small improvements can change offers |
| 620 to 669 | Fewer lenders; DTI and income matter more |
| 580 to 619 | Often out of reach for partner lenders; build first |
| Below 580 | Credit counseling, credit unions and builder products first |
What moves a score
Payment history carries about 35 percent of the weight, amounts owed about 30 percent, length of history 15 percent, new credit 10 percent and mix 10 percent. Pay on time, keep balances low and avoid opening many accounts at once.
Get your reports
Free reports are available at AnnualCreditReport.com. Dispute errors with both the bureau and the creditor.
Reading your report like a lender
Your score is a summary of a report with four main sections: personal information, accounts, public records and inquiries. When you request your free report from AnnualCreditReport.com, read every account. Confirm it is yours, that the balance and limit are right and that payment history is accurate. A single error in a limit or a late payment can lower the score.
| Report section | What to check | What to do if wrong |
|---|---|---|
| Personal information | Name, addresses, employers | Request correction |
| Accounts | Balances, limits, payment history | Dispute with the bureau and the creditor |
| Public records | Judgments, bankruptcies | Verify dates and status |
| Inquiries | Applications you did not make | Dispute fraud inquiries |
Moves that help within 60 days
- Pay down revolving balances before the statement date.
- Request a credit limit increase on a card you do not plan to spend on, if there is no hard inquiry.
- Add a missing positive account if your lender allows.
- Fix errors by writing to the bureau, with copies of proof.
Moves that help over a year
Keep accounts open, pay everything on time, avoid collections and let the average age of accounts grow. Late payments lose weight with time, and collections and other negatives fade from reports after the periods set by law.
Score types
There are different scoring models, and the score you see on a free app may not be the one a lender uses. Lenders can use FICO or VantageScore versions, and some use industry-specific versions. Treat the range as a guide, and ask the lender which model it uses. The CFPB's page on credit reports and scores explains the basics.
What lenders see beyond the score
A lender sees payment history, balances and limits, length of history, new accounts and the mix of accounts. It also sees public records and inquiries. Together they say whether you have paid reliably and whether you are stretched. Two people with the same score can look very different.
Reading the five factors
| Factor | What it measures | What you can do |
|---|---|---|
| Payment history | Whether you pay on time | Autopay every account |
| Amounts owed | Utilization and balances | Pay balances down before statements |
| Length of history | Age of accounts | Keep old accounts open |
| New credit | Recent applications | Space out applications |
| Credit mix | Types of accounts | Do not open accounts only for mix |
The myFICO guide explains the weighting. Payment history and amounts owed carry the most weight.
Free ways to build in the Carolinas
Credit unions in both states offer credit-builder loans and secured cards. Ask for an account that reports to all three bureaus. Keep balances low and pay on time. After six months, check your report for the new account.
Beware of credit repair promises
No company can legally remove accurate negative information before its time. Credit repair organizations are restricted by federal law from charging before services are performed. You can dispute errors yourself for free.
Quick reference
Pay on time. Keep balances low. Keep old accounts. Space applications. Check reports yearly. Dispute errors in writing.
Related pages
See the requirements guide and the free options page for help improving your credit.
Frequently asked questions
What score do I need for a personal loan?
Each lender sets its own range. A higher range means more lenders and usually better terms.
How fast can I improve my score?
Paying balances down can change the reported utilization within a statement cycle or two. Late payments take longer to fade.
How often should I check my report?
At least once a year, and before any major application. You can request free reports weekly through the official site.
Will checking my own score lower it?
No. Checking your own report or score is a soft inquiry and does not affect your score.
Does paying off a loan raise my score?
It can, but closing an account may reduce your average age or mix slightly. On-time history helps.
How long do negatives stay on a report?
Most negative items fall off after seven years, and bankruptcies after seven to ten years, depending on type.
What is a good credit score?
Scores vary by model, but ranges above the high 600s are generally considered good.
Does closing a card hurt?
It can raise utilization and shorten average age. Keep old cards open if there is no fee.
How can I raise my score fast?
Pay down card balances and fix errors. Other factors take time.
Do rent payments count?
Only if they are reported to the bureaus.