A good credit score is generally 670 or above on the FICO scale, which runs from 300 to 850. Scores from 670 to 739 are "Good," 740 to 799 are "Very Good," and 800 and above are "Exceptional." To get there, pay every bill on time, keep credit card balances below 30% of your limit, and build a history of consistent positive payment activity. For renters, that includes reporting monthly rent payments to credit bureaus through a service like Roots Growth.
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What the Credit Score Ranges Actually Mean
Pull up your credit score and you get a number. But what does that number actually cost you, or save you?
The FICO score is the most widely used credit scoring model in the United States. Lenders use it to decide whether to approve your application and what interest rate to charge. Here's how the ranges break down:
Score Range | FICO Rating | What It Means for You |
800-850 | Exceptional | The lowest rates and best terms available |
740-799 | Very Good | Approved easily at competitive rates |
670-739 | Good | Approved for most products at solid rates |
580-669 | Fair | Fewer approvals and higher interest rates |
300-579 | Poor | Limited options, often secured products only |
The difference between a Fair and a Good score isn't just a number. On a $25,000 car loan over 60 months, a borrower with a 620 score might pay an interest rate of 11% or higher. A borrower with a 720 score might pay 6%. That gap costs roughly $4,000 in extra interest over the life of the loan, for the exact same car.
For renters, the stakes are just as real. Most landlords require a minimum credit score of 620. In competitive rental markets, a score above 700 can be the difference between getting the apartment and losing it to another applicant. Learn more about what landlords look for when screening renters.
What Goes Into Your Credit Score
Your FICO score is calculated from five factors, each weighted differently:
Payment history (35%) measures whether you pay on time. One missed payment can drop your score by 50 to 100 points. Consistent on-time payments are the most reliable way to build your score. This is exactly why rent reporting works — it turns your largest monthly payment into a recurring positive entry on your payment history.
Credit utilization (30%) measures how much of your available credit you use. If you have a $1,000 limit and carry a $700 balance, your utilization is 70%. Keeping balances below 30% is the standard benchmark. Below 10% produces the best results.
Length of credit history (15%) rewards older accounts. The longer your accounts have been open, the better.
Credit mix (10%) rewards having different types of credit: revolving (credit cards) and installment (loans).
New credit (10%) penalizes frequent applications. Multiple hard inquiries in a short period signal financial stress to lenders.
How to Get a Good Credit Score, Step by Step
Step 1: Know your starting point.
Before you can improve your score, you need to know where you are. Pull your free credit report from AnnualCreditReport.com. Learn how to check your credit report for free and what to look for when you do.
Step 2: Set up automatic payments.
Set up automatic minimum payments on every account so you never miss a due date.
Step 3: Report your rent payments.
For renters, rent is typically the largest monthly payment, and by default it does nothing for your credit score. Roots Growth closes that gap by reporting your on-time rent payments to credit bureaus, adding positive payment history every single month. Learn more about how to build credit as a renter.
Step 4: Lower your credit utilization.
Pay down balances before the statement closing date, not just the due date. The balance reported to the bureaus is your statement balance. See our full guide on how to lower your credit utilization.
Step 5: Keep old accounts open.
Closing an old credit card can shorten your average account age and reduce your total available credit. Both can lower your score. Keep old accounts open and make a small purchase on them once a quarter to keep them active.
Step 6: Limit hard inquiries.
Apply for new credit only when necessary. Multiple hard inquiries in a short period can lower your score by 5 to 10 points each.
How Long Does It Take to Reach a Good Credit Score?
The timeline depends entirely on your starting point:
No credit file: 6 to 12 months. Open one account, report rent, pay on time.
Fair credit (580 to 669): 3 to 6 months. Lower utilization, add rent reporting.
Poor credit (below 580): 12 to 24 months. Consistent payments, dispute errors, reduce balances.
For a deeper look at timelines and what to expect at each stage, read how long it takes to build credit from scratch.
What a Good Credit Score Gets You
A score of 670 or above unlocks meaningfully better financial terms across nearly every product category:
Lower interest rates on auto loans, personal loans, and mortgages.
Access to unsecured credit cards with rewards and cash back.
Higher credit limits with less collateral required.
Better odds of apartment approval without a co-signer or extra deposit.
Lower or waived security deposits on utilities and cell phone plans.
The compounding effect is significant. A borrower who reaches 740 before taking out a 30-year mortgage on a $350,000 home could save over $80,000 in interest compared to a borrower at 620, on the exact same loan.
What Makes Roots Growth Different for Renters
Most credit-building advice is written for people who already have credit. Renters, especially those just starting out, are working against a system that wasn't designed for them.
Roots Growth is built specifically for renters. For $10 a month, members complete short financial education challenges, earn Investable Rewards™, and deploy those rewards into the Roots real estate fund, credit repair, home-purchase services, and other Growth Market partners. Rent reporting, credit monitoring, and Rooty, your AI Wealth Coach, are all part of the toolkit.
Start building with Roots Growth →
Frequently Asked Questions About Good Credit Scores
What is considered a good credit score?
A FICO score of 670 or above is generally "Good." Scores of 740 and above are "Very Good," and scores of 800 and above are "Exceptional." Most mainstream financial products are accessible at 670 or higher.
What is the average credit score in the United States?
The average FICO score in the United States was approximately 717 as of 2024, which falls in the "Good" range. Averages vary significantly by age group. Younger consumers and first-time renters often start well below this.
Can renters build a good credit score without a credit card?
Yes. Rent reporting and credit-builder loans are two ways to build credit history without a credit card. Both add positive payment history to your credit file over time.
How much can your credit score improve in a year?
With consistent on-time payments, lower utilization, and rent reporting, it's possible to move from Fair (580 to 669) to Good (670+) within 6 to 12 months. Larger improvements, from Poor to Good, typically take 12 to 24 months of consistent positive behavior.
Does checking your own credit score lower it?
No. Checking your own credit score is a soft inquiry and has no impact on your score. Only hard inquiries (triggered when a lender pulls your credit for a new application) can temporarily lower your score.
What is the fastest way to raise your credit score?
The fastest single action is usually paying down credit card balances to reduce your utilization ratio. For renters with a thin or no credit file, adding rent reporting can also produce measurable score increases within 1 to 3 months. See our full guide on how to improve your credit score in 30 days.
Is a 700 credit score good enough to rent an apartment?
Yes. A 700 score is in the "Good" range and meets or exceeds the requirements of most landlords. In very competitive rental markets, some landlords may prefer scores of 720 or higher. Read more about what landlords look for when screening renters.
About Roots Growth
Roots Growth is a micro-learning platform that helps renters turn financial education into actual wealth. When users complete short challenges they earn reward points that can be directly invested into real estate or used toward home-buying services. Roots Growth also has powerful credit-building tools, like rent reporting and real time credit monitoring. Ready to grow? Join the 29,500+ investors already building wealth today at investwithroots.com.
Disclosure: This content is for informational purposes only and does not constitute financial or legal advice.
Last Updated: April 2026
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