There is no formal definition of a good credit score. It varies depending on what you’re applying to borrow for, but it’s generally accepted to be in the range of 670 to 739 in the FICO scoring model. Here’s how the FICO score works, what is considered a good credit score, and how to increase your credit score from good to great.
First of all, when I use the term “credit score,” I’m referring to the FICO score. There are other scoring models out there, but FICO is the model lenders most commonly use, by far.
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