 TITLE: Credit Score Basics CONTENT: What Is Considered a Good Score?\n--------------------------------\nThe question of what is considered a \"good\" credit score is really best answered by your lenders. Because it's ultimately your lenders that are on the hook for monetary losses if their borrowers default, it's the lenders that decide what is and what is not a good score. Having said that, there is some general consensus on what is a good, or better, credit score.\nAs of mid-2020, the average FICO® Score☉ was 707, while the average VantageScore credit score was 686. As such, anything at or around 700 is about an average score. Lenders, however, are looking for considerably higher scores if they're going to approve credit applications with their best interest rates and terms.\nFor example, according to Informa Research Service, the lowest average interest rates on a 30-year fixed-rate mortgage are reserved for consumers who have FICO® Scores of 760 or higher. The lowest average rates for a loan on a new car go to consumers who have FICO® scores of 720 or higher. END