What counts as a good credit score depends on where you live and which scoring model a lender uses. This guide explains the ranges in the US, UK and Canada, what lenders look for in Nigeria, and how to move your score into the good range.
US: FICO and VantageScore (300 to 850)
- 800 to 850: exceptional
- 740 to 799: very good
- 670 to 739: good
- 580 to 669: fair
- Below 580: poor
A score of 670 or higher is generally considered good, and 740+ usually gets you the best rates.
UK: each agency has its own scale
Experian scores from 0 to 999, Equifax from 0 to 1000 and TransUnion from 0 to 710. Lenders look at your full credit file rather than one number, so focus on a clean payment history and being on the electoral roll.
Canada: 300 to 900
Equifax and TransUnion score Canadians from 300 to 900. Around 660 and above is generally considered good, and 760 and above excellent.
Nigeria: credit reports matter more than a single number
Licensed credit bureaus such as CRC, FirstCentral and CreditRegistry record your loans and repayments. Lenders focus on whether you have repaid previous loans on time.
What affects your score
- Payment history: the biggest factor almost everywhere.
- Credit utilization: how much of your available credit you use.
- Length of history: older accounts help.
- New credit: several recent applications can lower your score.
- Credit mix: a mix of cards and loans can help slightly.
How to move into the good range
- Pay every bill on time; set up autopay.
- Pay down card balances, especially before the statement date.
- Dispute errors on your credit reports.
- Avoid closing your oldest account.
- Space out new credit applications.
Try our Credit Score Simulator to see which actions could help most.
How a good credit score saves you money
Your score affects the interest rate lenders offer. On a $25,000, five-year car loan, the difference between a strong score and a fair score could be several percentage points. For example:
| Example rate | Monthly payment | Total interest |
|---|---|---|
| 6% | about $483 | about $3,999 |
| 12% | about $556 | about $8,367 |
Rates are examples only. Run your own numbers with our Loan Repayment Calculator.
How long negative items stay on your report
- Late payments: generally up to seven years in the US and around six years in the UK and Canada.
- Collections and defaults: similar timeframes, although their impact fades over time.
- Hard inquiries: usually visible for about two years, but they affect your score for less time.
- Bankruptcy: can remain for up to seven to ten years depending on the type and country.
The good news is that recent positive history matters more than old mistakes. Months of on-time payments can steadily rebuild your score.
Myths about credit scores
- Myth: checking your score lowers it. Fact: checking your own score is a soft inquiry.
- Myth: you need to carry a balance to build credit. Fact: paying in full builds credit and avoids interest.
- Myth: income affects your score. Fact: income is not part of your credit score, although lenders consider it separately.
Next steps: move your score into the good range
Focus on actions with the biggest impact first.
- Check your credit reports from all bureaus and dispute any errors.
- Set up autopay for at least the minimum on every account.
- Pay down card balances so each card is below 30% of its limit, ideally below 10%.
- Avoid new credit applications for at least six months unless necessary.
- Keep your oldest accounts open and active with a small recurring charge.
Check your score monthly to track progress. Model how each action might affect you with our Credit Score Simulator.
What is a good credit score for renting, cars and mortgages?
What counts as a good credit score depends on what you are applying for:
- Renting: many landlords look for scores in the mid-600s or higher, plus proof of income.
- Car loans: lenders offer their best rates to borrowers with scores in the 700s and above.
- Mortgages: conventional loans often need at least the low 600s, with the best pricing typically for 740 and above; FHA loans can accept lower scores.
- Credit cards: premium rewards cards usually require good to excellent credit.
These are general guides, not guarantees. Each lender sets its own criteria.
For official, up-to-date guidance, see the CFPB’s credit guides.
Frequently asked questions
Is 700 a good credit score?
Yes, in the US a 700 FICO score is in the good range. Reaching 740 or higher usually unlocks the best interest rates.
Why is my score different on different apps?
Different apps use different scoring models and bureaus, and update at different times. Look at trends rather than exact numbers.
How fast can I improve my credit score?
Paying down card balances can raise your score within one or two billing cycles. Recovering from late payments takes longer.
Is 800 a good credit score?
Yes. In the US, 800 or higher is considered exceptional and usually qualifies for the best rates.
Good credit score: key takeaways
- In the US, 670+ is good and 740+ is very good.
- UK agencies each use different scales; lenders look at your whole file.
- In Canada, around 660+ is good on a 300 to 900 scale.
- On-time payments and low balances matter most everywhere.
Last reviewed: September 2026. This article is general education, not personal financial, tax or legal advice. Rules, rates and limits change, so confirm the latest details with official sources before making a decision. See our Financial Disclaimer.