What is a good credit score?

May 08, 2023

See how your numbers stack up so you know what to expect before applying for loans.

If you want to rent an apartment, finance a car or qualify for a mortgage, having a good credit score could make the approval process much easier (and more likely).


What is a credit score range?

The range of credit scores runs from 300 to 850 and simply put: the higher your score, the better. Scores under 600 may make it difficult to secure a line of credit, while scores between 600 and 700 may only allow for loans at a higher interest rate. Scores of 700 and above are considered “good”, and scores over 800 are considered “excellent”. Those who have “good” or “excellent” credit scores are more likely to qualify for loans and receive favorable terms, like lower interest rates and flexible repayment periods.

If you have a high credit score, you shouldn’t have any trouble securing your line of credit. If you’re on the lower end of the credit score range, applying for credit might be more complicated, so it's good to know what to expect before you begin. Don’t be discouraged though: it’s never too late (or too soon) to take steps to repair your credit score.


What factors effect your credit score?

Your credit score is based primarily on the following factors:

  • Payment history: Paying bills on time consistently will greatly improve your overall score. If you are 30, 60 or 90+ days late with a payment, it will be documented and can lower your credit score. A history of late payments on several accounts will cause more damage than late payments on a single account. 
  • Amounts owed: Amounts owed refers to the amount you owe relative to the credit available to you by any given lender. If your debt is more than 30 percent of your total credit limit, your credit score may begin to fall. 
  • Length of credit history: The longer you’ve had one or more lines of credit, the better you’ll look to a lender. As the amount of time you’ve had a line of credit adds up, your credit score can increase. However, be wary of opening multiple new accounts in the hopes of building credit quickly. This reduces your “average account age” and will reduce your score. 
  • Amount of new credit: Every time you apply for new credit, that inquiry becomes part of your credit report. Applying for too many lines of credit in a short amount of time can lower your score. 
  • Types of credit: Credit cards and installment loans (like mortgages and car loans) represent different types of credit than traditional credit cards. Having a well-balanced mix of different lines of credit can benefit your credit score. 

Being proactive about your credit health can put you at an advantage when making major purchases. If you’re actively trying to improve your credit score, explore credit card options that allow you to check your score as often as you like. The U.S. Bank Visa® Altitude Go card gives you unlimited access to information about your credit score. Learn more about how to build and maintain a good credit score.


Have more questions about credit? Make an appointment with one of our bankers and make sure you are on the right track to good credit health, or learn more about the Platinum credit card and how you can keep track of your credit score more easily.

Your free credit score

Monitor your credit score1 for free through the U.S. Bank Mobile App or online banking. It’s easy to enroll, easy to use, and free for U.S. Bank clients.

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Start of disclosure content


  1. Free credit score access, Alerts and Score Simulator through TransUnion’s CreditView Dashboard are available to U.S. Bank online and mobile banking customers only. Alerts require a TransUnion database match. It is possible that some enrolled members may not qualify for alert functionality. The free VantageScore® credit score from TransUnion® is for educational purposes only and is not used by U.S. Bank to make credit decisions.

Start of disclosure content

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, Home Equity and Credit products are offered through U.S. Bank National Association. Deposit products are offered through U.S. Bank National Association. Member FDIC.