What Is a Good Credit Score Range? How It Saves You Money in 2026
What Is a Good Credit Score Range? How It Saves You Money in 2026
A good credit score range is typically between 670 and 739. This range, as defined by FICO, puts you in a favorable position to access better interest rates and loan terms. According to a 2023 Federal Reserve report, having a score in this range can save you up to $300 annually on interest compared to lower scores.
Why This Matters
Your credit score impacts your wallet directly. A higher score can mean lower interest rates, which translates to saving hundreds of dollars each year. Without a good score, you might pay more on loans and credit cards.
The Full Explanation
Understanding Credit Score Ranges
Credit scores generally range from 300 to 850. Here's a breakdown:
- Excellent: 740 to 850
- Good: 670 to 739
- Fair: 580 to 669
- Poor: 300 to 579
A good score shows lenders you're a reliable borrower, which can lead to better loan offers.
Why 670 to 739 Is Considered Good
This range balances well between being accessible and offering financial advantages. It's the sweet spot for many seeking manageable interest rates without needing a perfect score.
Step-by-Step: How to Maintain a Good Credit Score
- Pay bills on time: Late payments can drop your score quickly.
- Keep credit card balances low: Aim to use less than 30% of your credit limit.
- Avoid new hard inquiries: Too many can signal risk to lenders.
- Check your credit report annually: Ensure accuracy and catch errors early.
You could spend an hour doing this manually — or let BON Credit do it in seconds, for free.Download →
Common Mistakes or Myths
Myth: Closing old accounts boosts your score. Fact: It can actually lower your score by reducing your available credit.
Myth: Checking your credit score often hurts it. Fact: Soft inquiries, like those from monitoring apps, don't affect your score.
FAQ
What is a great credit score?
A score of 740 or higher is considered excellent, providing even more financial benefits.
How often should I check my credit score?
Monthly checks are ideal to stay informed and catch any issues early.
Can I improve my score fast?
Yes, by paying down debts and avoiding new hard inquiries, you may see improvements in a few months.
Conclusion
Monitoring your credit score can be time-consuming, but with BON Credit, it’s effortless. Instantly see where you stand and what steps to take to improve. Get BON Credit now →
- A good credit score range is 670-739.
- Staying in this range can save you up to $300 annually on interest.
- Use BON Credit to monitor and improve your score for free.
- Avoid myths that closing accounts or checking scores hurts your credit.