Credit scores are a number between 300 and 850 on the common FICO scale. What matters is not the exact figure but which band it falls into, because lenders price in bands.
What each band means in practice
- Under 580. Most mainstream credit is closed. Secured cards and credit-builder products are the route back.
- 580 to 669. Approvals happen, at high rates and low limits. Apartment applications may want a larger deposit or a guarantor.
- 670 to 739. The practical threshold. Most lenders approve routinely at reasonable rates.
- 740 to 799. Where the good rates live. On a mortgage the difference against the band below is measured in tens of thousands over the loan.
- 800 and above. Marginal further benefit. Chasing points here is largely wasted effort.
You do not have one score. You have many. FICO and VantageScore use different formulas, there are industry-specific versions for auto and mortgage lending, and each bureau holds slightly different data. A twenty point difference between two apps is normal, not an error.
Where the biggest gains are
If you are under 670, the fastest movement usually comes from lowering credit utilisation and ensuring nothing goes 30 days late. Those two levers cover roughly 65% of the score between them.
The short version
- 670 is the practical approval threshold. 740 is where pricing improves.
- Bands matter, individual points mostly do not.
- You have several scores, not one. Differences are expected.
- Utilisation and on-time payments are where the fast gains are.
Common questions
What is a good credit score?
670 and above is generally considered good, and 740 and above is where the best pricing starts. Under 580 closes off most mainstream credit.
Why is my score different on different apps?
Different scoring models and different bureau data. FICO and VantageScore weight things differently, and each bureau may hold slightly different accounts.
How fast can I raise my score?
Utilisation changes can show within one reporting cycle, roughly a month. Negative marks fade over years rather than months.