- The median credit score for Americans as of 2008 is 725. The best credit scores are above 760, but lenders generally consider a credit score over 700 to be good, according to Smart Money. People with credit scores under 660 fall into a category of potential credit risks, and people between 660 and 700 may be acceptable, depending on the lender.
- People with a good FICO credit score are not likely to be turned down for applications of credit. They may not get interest rates reserved for people with the best credit scores, but they will get much better rates than people with poor credit scores.
- Not all lenders have exactly the same cutoff scores for determining interest rates. A score that gets the best interest rate with one lender may not be quite good enough to get the best interest rate with another lender. People can improve their credit scores by paying down debt and making sure to not miss any payments.