What Credit Score is Considered Good or Excellent?
Agood credit score ranges from 670 to 739, while an excellent credit score is 800 to 850 on the FICO scale. The FICO scoring model, used by most U.S. lenders, rates scores from 300 to 850. Very good scores fall between 740 and 799. As of 2026, the average American FICO score sits around 716, placing most consumers in the good credit range. Understanding where your score falls helps you qualify for better interest rates, loan approvals, and credit card offers. Tools like Bon Credit’s CredGPT can help you monitor your score and find the best credit products matched to your current credit profile.
Understanding the FICO Credit Score Scale
The FICO credit score system divides consumers into five distinct categories based on creditworthiness. This standardized scoring model helps lenders quickly assess lending risk and determine loan terms. The three major credit bureaus—Experian, Equifax, and TransUnion—calculate your FICO score based on payment history, credit utilization, length of credit history, credit mix, and new credit inquiries.
The five FICO score ranges break down as follows:
Poor (300-579): High-risk borrowers who may struggle to qualify for traditional credit products
Fair (580-669): Subprime borrowers who qualify for credit but face higher interest rates
Good (670-739): Acceptable credit risk with access to competitive loan terms
Very Good (740-799): Dependable borrowers who qualify for better-than-average rates
Excellent (800-850): Exceptional credit profiles receiving the most favorable terms
Bon Credit analyzes your credit profile against these ranges and recommends specific actions to move you into higher tiers, potentially saving thousands in interest payments over time.
What Makes a Credit Score “Good”?
A good credit score of 670-739 demonstrates responsible credit management and opens doors to mainstream financial products. Consumers in this range typically have a solid payment history with occasional minor blemishes, maintain reasonable credit utilization below 30%, and have established credit accounts averaging several years old.
Lenders view good credit scores as acceptable risk. You’ll qualify for most credit cards, auto loans, and mortgages, though you may not receive the absolute lowest interest rates. For example, a borrower with a 700 credit score might receive a mortgage rate 0.25-0.5% higher than someone with an excellent score of 800.
The difference between good and very good credit often comes down to credit utilization and payment consistency. Keeping balances low, making all payments on time, and maintaining older credit accounts helps push scores above 740. Bon’s AI-powered platform searches over 14,000 credit card options in real time to help you find products that reward your good credit while building toward very good territory.
The Benefits of Excellent Credit (800-850)
Excellent credit scores of 800 and above unlock premium financial opportunities and substantial savings. Only about 20% of Americans achieve this elite status, which signals to lenders that you represent minimal default risk. The financial advantages compound over time across multiple credit products.
Consumers with excellent credit enjoy:
Lowest possible interest rates on mortgages, auto loans, and personal loans
Premium credit card offers with generous rewards, sign-up bonuses, and perks
Higher credit limits providing greater purchasing power and lower utilization ratios
Faster approval processes with minimal documentation requirements
Better insurance rates in states where credit-based insurance scores apply
Negotiating leverage when discussing rates and fees with lenders
For perspective, on a $300,000 30-year mortgage, the difference between a 6.5% rate (good credit) and a 6.0% rate (excellent credit) amounts to approximately $58,000 in interest savings over the loan’s lifetime. Bon Credit helps users understand exactly how much improving their score could save them and creates personalized action plans to reach excellent credit status.
How to Move from Good to Excellent Credit
Strategic credit management transforms good credit into excellent credit through consistent positive behaviors over time. The journey from 670 to 800+ requires patience and discipline, but the financial rewards justify the effort. Focus on the five factors that comprise your FICO score, weighted by importance.
Payment History (35% of Score)
Never miss a payment deadline. Set up automatic payments for at least the minimum due, then manually pay the full balance. Even one 30-day late payment can drop your score by 60-100 points and remain on your report for seven years.
Credit Utilization (30% of Score)
Keep total credit card balances below 10% of available credit for excellent scores. If you have $10,000 in total credit limits, maintain balances under $1,000. Pay down balances before statement closing dates to report lower utilization to credit bureaus.
Length of Credit History (15% of Score)
Keep your oldest credit accounts open and active. The average age of accounts matters significantly. Opening too many new accounts in a short period lowers your average account age and temporarily reduces your score.
Credit Mix (10% of Score)
Maintain a diverse portfolio including revolving credit (credit cards) and installment loans (auto loans, mortgages, personal loans). Lenders prefer seeing you successfully manage different credit types.
New Credit Inquiries (10% of Score)
Limit hard inquiries by only applying for credit when necessary. Multiple inquiries within 14-45 days for the same loan type (like mortgage shopping) count as a single inquiry, but scattered applications across months damage your score.
Bon’s CredGPT technology analyzes your specific credit profile and identifies which factors are holding you back from excellent credit, then prioritizes actions with the highest score impact.
Credit Score Comparison Across Ranges
This comparison illustrates how each 70-point improvement in your credit score dramatically impacts your borrowing power and costs. Moving from good to excellent credit can reduce your credit card APR by 5-10 percentage points, translating to hundreds or thousands in annual savings depending on your balances.
Common Myths About Credit Scores
Misconceptions about credit scoring prevent many consumers from optimizing their credit profiles. Understanding what actually affects your score helps you focus efforts on actions that matter. The credit bureaus and FICO have clarified these common myths:
Myth: Checking your own credit hurts your score. Soft inquiries from checking your own credit report have zero impact. Only hard inquiries from lenders reviewing your application for new credit affect scores, and even then, the impact is minor (typically 5-10 points) and temporary.
Myth: Carrying a small balance improves your score. You don’t need to pay interest to build credit. Paying your full statement balance monthly demonstrates responsible usage without incurring interest charges. Credit utilization calculations use your statement balance, not whether you carry debt month-to-month.
Myth: Closing old accounts helps your score. Closing accounts reduces your total available credit, increasing your utilization ratio. It also shortens your credit history length. Keep old accounts open with small periodic charges to maintain their positive history.
Myth: Income affects your credit score. FICO scores don’t consider income, employment, or assets. Your score reflects only how you manage debt and credit obligations. However, lenders do consider income separately when evaluating loan applications.
Frequently Asked Questions
Q: How long does it take to go from good credit to excellent credit?
A: Moving from a 670 score to 800+ typically takes 12-24 months of perfect credit behavior, including on-time payments, low utilization, and no new negative marks. The timeline depends on your starting point and how aggressively you address credit utilization and payment history. Consistent positive actions compound over time to push your score higher.
Q: Will paying off all my credit cards immediately give me excellent credit?
A: Paying off credit card debt significantly improves your credit utilization ratio, which can boost your score by 50-100 points if you were carrying high balances. However, reaching excellent credit also requires a long positive payment history, diverse credit mix, and aged accounts. Paying off debt is crucial but not the only factor.
Q: Can I have excellent credit with only one credit card?
A: Yes, but it’s more challenging. Excellent credit typically requires demonstrating responsible management of multiple credit types over many years. A single credit card with perfect payment history and low utilization can eventually reach 800+, but adding an installment loan (like an auto loan) and maintaining 2-3 credit cards provides more data points for scoring models.
Q: Do good and excellent credit scores use the same factors?
A: Yes, FICO uses identical factors across all score ranges: payment history (35%), credit utilization (30%), length of credit history (15%), credit mix (10%), and new credit (10%). The difference between good and excellent credit lies in how perfectly you optimize each factor. Excellent scores require near-perfect execution across all five categories maintained over years.
Take Control of Your Credit Journey
Understanding where your credit score falls on the FICO scale empowers you to make strategic financial decisions. Whether you’re working to achieve good credit or striving for excellent status, consistent positive credit behaviors compound over time to improve your score and expand your financial opportunities.
Bon Credit provides the AI-powered tools you need to optimize your credit profile efficiently. With CredGPT searching over 14,000 credit card options in real time and personalized debt management recommendations, you can accelerate your journey from good to excellent credit while maximizing the financial products available at each stage. Visit boncredit.ai to analyze your credit profile and discover your customized path to excellent credit.