Your credit score is a three-digit number — typically between 300 and 850 — that summarizes the risk a lender takes by extending you credit. It's the single biggest input to whether you're approved and what rate you're offered.
FICO vs VantageScore
FICO is used in roughly 90% of US lending decisions. VantageScore is widely used in free consumer-facing tools (Credit Karma, many bank apps). Both run on the same underlying credit-report data but weight factors slightly differently — your two scores rarely match exactly.
Score bands and what they unlock
Exceptional 800–850 (best rates on every product). Very good 740–799 (best personal-loan and mortgage rates). Good 670–739 (most prime offers accessible). Fair 580–669 (subprime pricing, fewer choices). Poor 300–579 (bad-credit lenders, secured products, cosigner often required).
What moves your score
Payment history (35%), amounts owed / utilization (30%), length of credit history (15%), new credit / inquiries (10%), credit mix (10%). The fastest lever for most people is utilization — paying down a high-balance credit card can lift a score within one billing cycle.
Frequently asked questions
How fast can I improve my credit score?
Utilization changes show up within one billing cycle (30 days). On-time payment streaks compound over 6–12 months. Removing collection accounts or disputing errors can lift scores quickly but is case-by-case.
Why are my three credit scores different?
Each bureau (Equifax, Experian, TransUnion) holds slightly different data, and different scoring models weight that data differently.