good credit score ranges from 670 to 739 on the FICO® scale and 661 to 780 with VantageScore. A lender may have different criteria, however. Many banks, for example, consider a score of 700 and above to be good. And many of the best rates and terms are available for applicants with even higher scores—in the very good or exceptional range.
When you’re looking for a loan or credit card, it pays to shop around. The same credit score might qualify you for a great rate with one lender and a more expensive loan with another.
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What Is the Difference Between a Credit Score and a Credit Report?
Your credit report provides a detailed record of your credit and payment history. It shows how much debt and how many open accounts you have (and with whom), how long you have been managing credit accounts, and a historical record of how and when you’ve paid your bills. You may have credit reports with one or more of the national consumer credit bureaus: Experian, TransUnion and Equifax.
While your credit report provides lots of information on your credit account management, a credit score is a single number calculated using the information in your credit report. Credit scores are calculated by credit scoring companies including FICO® and VantageScore and typically range from 300 to 850.