If you’ve recently found out your credit score, you’re one step closer to understanding how potential lenders judge you when you apply for credit cards or loans. But what does your specific credit score actually mean? Is your score good or bad? We’re here to help!
Choose the range below into which your score falls to see exactly what your score means in the real world:
- Over 760. That’s excellent!
- Between 700 – 759. That’s still good.
- Between 650 – 699. Only average.
- Under 650. That’s bad.
Credit Score Over 760? That’s Excellent!
If you have a credit score over 760 (out of a possible 850), congratulations! You have excellent credit!
What does excellent credit get me?
Excellent credit gets you the best of the best when you’re applying for a credit card, mortgage loan, or other financing. You do not have to worry about whether or not your application will get approved, because lenders are hungry for borrowers like you! That means they will give you their lowest interest rates and possibly other perks, too, such as richer credit card rewards or waived fees that those with worse credit might have to pay.
Your long history of paying your bills on time and not piling up too much debt shows that you can handle credit. Strangely enough, once you show you can handle credit, lenders start falling over themselves to give you more and more credit, even when you no longer need it. For you, that’s a good problem to have.