What makes up an individual’s credit scores?

UNDERSTANDING YOUR FINANCIAL HEALTH IS CRUCIAL FOR ANY INDIVIDUAL interested in planning for the future - whether that be starting a business, making a large purchase or planning for their own or a family member's college education. Garnering and maintaining good credit scores is a key component to gaining access to credit, but what makes up a credit score? 

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You may already know that certain behaviors – such as paying your bills on time, every time – can reflect positively on your credit scores. But it’s also important to know that not every action will directly impact your credit scores at all, either positively or negatively.

There's more than one credit scoring model available and more than one range of scores. However, these are common credit scores ranges:

• 800 to 850: Excellent

• 740 to 799: Very good

• 670 to 739: Good

• 580 to 669: Fair

• 300 to 579: Poor 

The average credit score in the United States is 702, based on VantageScore® data from May 2024. You can find the average credit score by state here. 

For more resources and to learn about living your financial best, visit equifax.com/learn and equifax.com/espanol.