HAVING A BAD CREDIT SCORE CAN
COST YOU MONEY

WHAT IS A GOOD CREDIT SCORE?

Share:

Gain a Better Understanding of Your Credit with Experian Credit EducatorSM

For $39.95 you'll receive a one time, one-on-one credit education session including:
  • A copy of your Experian credit report and score
  • A step-by-step walkthrough of your personal credit report
  • Specific examples of actions that may increase your credit score
  • Insight for future decisions in personal credit management
Or call us at

(not available in WI)

Experian Credit Educator
is brought to you by
Experian's Education
Division.

Find Answers to Your Credit Questions

Search the Ask Experian advice column. If you don't find the answers you're looking for, you'll have the chance to ask your specific question.

Subscribe to Ask Experian

Credit and Finance Advice

Cyber Security: Take Responsibility

Everyone has a role to play in cyber security. Increase your awareness of security measures for your computer and online accounts and feel safer in the digital age.

VantageScore®

Get the facts about this new, easy-to-understand credit score.

What Is a Good Credit Score?

Different Credit Scoring Systems

A “good” credit score depends on the scoring system used by your particular lender. Different scoring systems use different scales. However, if you have a good credit score from one of the credit reporting agencies, you are likely to have a good credit score with your lender.

  • Most credit scores fall between 600 and 750
  • A score above 700 usually suggests good credit management
Check Your Credit Score Online

What Impacts a Credit Score?

The information that impacts a credit score varies depending on the score being used. Credit scores are affected by elements in your credit report, such as:

  • Number and severity of late payments
  • Type, number and age of accounts
  • Total debt
  • Public records

Credit scores do not consider the following information:

  • Your race, color, religion, national origin, sex or marital status. U. S. law prohibits credit scoring formulas from considering these facts, any receipt of public assistance or the exercise of any consumer right under the Consumer Credit Protection Act.
  • Your age.
  • Your salary, occupation, title, employer, date employed or employment history. However, lenders may consider this information in making their approval decisions.
  • Where you live.
  • Certain types of inquiries (requests for your credit report). The score does not count “consumer disclosure inquiry” requests you have made for your credit report in order to check it. It also does not count “promotional inquiry” requests made by lenders in order to make a “preapproved” credit offer or “account review inquiry” requests made by lenders to review your account with them. Finally, inquiries for employment purposes are not counted.

How a Good Credit Score Is Determined

Developers of credit scoring models do the following:

  • Review the historical credit profiles of a set of consumers (often more than 1 million)
  • Examine the profiles to identify common variables
  • Build statistical models based on the credit variables that best predict future behavior
  • Assign appropriate weights to each variable

“The biggest driving factor to a score is delinquency payments or payment history,” explained Arlene Dang, Manager of Analytics for Experian.

  • © 2014 Experian Information Solutions, Inc. All rights reserved.