A "good" credit score means different things for different loan types. Here's the complete map of what score you actually need for each financial goal.
Credit score ranges (FICO 8, most commonly used)
| Score range | Category | % of Americans |
|---|---|---|
| 800–850 | Exceptional | 23% |
| 740–799 | Very good | 25% |
| 670–739 | Good | 21% |
| 580–669 | Fair | 17% |
| 300–579 | Poor | 14% |
The score you actually need for each goal
| Financial product | Minimum usable | Best rates at |
|---|---|---|
| Conventional mortgage | 620 | 760+ |
| FHA mortgage | 580 (3.5% down) | 680+ |
| Auto loan (good rate) | 661 | 720+ |
| Personal loan (competitive rate) | 670 | 720+ |
| Best rewards credit cards | 670 | 720+ |
| Balance transfer 0% APR | 670 | 700+ |
FICO vs VantageScore: the difference
FICO is used for 90%+ of lending decisions. VantageScore (used by Credit Karma, Experian free access) may differ by 10–50 points in either direction. Your "real" score for mortgage purposes is FICO 2, 4, or 5 — pulled by mortgage lenders, often different from FICO 8. Get your actual mortgage-relevant scores before applying.
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About the author
Enrique 'Kike' Faúndez is an Information Systems and Management Control Engineer from Universidad de Chile, with master’s degrees in Finance from Universidad de Chile and Industrial Engineering from Pontificia Universidad Católica de Chile. He has 15+ years of experience in regulated financial services across finance, operations, and digital product development. He founded CashControlly in Santiago, Chile, with the conviction that personal financial control should not be a privilege, but an accessible and well-designed tool.
- Master's in Finance, Universidad de Chile
- Master's in Industrial Engineering, Pontificia Universidad Católica de Chile
- Information Systems and Management Control Engineer, Universidad de Chile
- AI and ITIL certifications
- 15+ years in regulated financial services
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