What Is A Good Credit Score?

What is a good credit score is a loaded question. There are plenty of answers and opinions as to what really is a good credit score. The best place to start answering your question is why are you asking the question. Are you asking because you are getting ready to apply for some type of credit account like a mortgage or credit card? Or, are you asking because you have a little competition going with your spouse for who has the better credit score between the two of you?

What Is A Good Credit Score? Any Score Over 680
A good credit score is any score above about 680. There are varying degrees of good however. You may want to get a low interest rate credit card. A low interest rate credit card may require that your credit scores be over 700. But on the other hand, you may want to qualify for a mortgage so having credit scores above 620 will get you into a mortgage program. Some of the lowest payment mortgage programs are those where your credit scores need to be higher than 740 but you can qualify for an FHA mortgage with a credit score of 620 or better.

Mortgage Lenders Want To Know Your Middle Score
Mortgage companies look at all three of your credit scores, and qualify you by looking at your middle score of the three. They do not average them, they literally take the middle score of the three and use that to compare to their mortgage qualification guidelines. Let us look at an example: you just got your credit report with scores and found that your FICO scores are 640, 655, and 725. The mortgage lender would use your 655 FICO because it is the middle score to see what mortgage program you qualify for.