What Is a Good FICO Credit Score?

FICO scores range from 300 to 850, but there is no defined score that is considered good since lenders have different strategies and amounts of risk that they are willing to tolerate. A higher FICO score simply indicates to lenders that a credit applicant carries lower risk.

A FICO score is a numeric representation of factors, including a credit user's payment history, their amounts owed, the length of their history, their number of recent credit inquiries and the types of credit used. Applicants with high scores have an easier time getting credit, and lenders may be willing to offer them higher limits and more favorable interest rates. Credit users can improve their scores by always paying their bills on time, reducing the amount of debt owed and letting their accounts age.