Is FICO (Fair Isaac Corporation) Score 8 Really Good?

Yes. A FICO® Score 8 that lands in the 'Good' range of 670‑739 is typically viewed as a solid, credit‑worthy score. Scores below 580 are poor, 580‑669 are fair, 740‑799 are very good, and 800+ are exceptional, so anything above 670 already clears the low‑risk threshold most lenders use.

Because it sits in the Good band, FICO 8 generally qualifies you for most mortgages, auto loans, and credit cards, but you'll usually receive average interest rates. If you push into the Very Good (740‑799) or Exceptional (800+) brackets, lenders tend to offer noticeably lower rates and more premium products, while scores in the Fair band often face higher fees or limited approval chances.

Lenders typically view a FICO® Score 8 between 670 and 739 as the 'good' bracket.

• Official range: Good = 670‑739, Very Good = 740‑799; most lenders set the lower bound of good at 670 (see FICO score categories).
• Mortgage approvals: Borrowers with a good score usually qualify for conventional loans and receive rates within 0.25‑0.5 percentage points of the 'prime' rate.
• Auto loan terms: A good score often secures APRs in the 4‑6 % range, whereas Fair scores see 7‑9 % APRs.
• Credit‑card offers: Good scores commonly unlock cards with 0 % intro APRs and rewards worth $100‑$250; premium travel cards often start at 720.
• Approval odds: Across major lenders, a good FICO 8 yields roughly 80‑85 % approval probability for new credit lines.
• Other products: Personal loans and small‑business financing generally require at least 670, with better rates and larger limits as the score climbs toward 740.

A FICO® Score 8 of 720 sits at the top of the 'Good' band (670‑739) and generally unlocks standard prime mortgages, auto loans, and credit cards, but lenders often add a modest price‑tag - mortgage rates may be about 0.25‑0.5 % higher than for borrowers in the next band.

A FICO 8 of 760 lands in the 'Very Good' range (740‑799) and typically shaves that extra cost off: lenders frequently offer 0.10‑0.25 % lower mortgage rates, reduced auto‑loan APRs, and higher credit‑card limits, giving borrowers more negotiating leeway. For a concrete look at the spread, see the 2023 FICO 8 mortgage rate analysis.

FICO 8 is still the main score used by a select group of major banks, credit‑card issuers, and many credit‑union or specialty lenders, particularly for mortgages and auto loans.

• Wells Fargo (mortgages, auto financing, credit cards)
• JPMorgan Chase (mortgage applications)
• Bank of America (mortgage applications)
• Quicken Loans / Rocket Mortgage (mortgage underwriting)
• Citi (most credit‑card approvals)
• Capital One (credit‑card and auto financing)
• Discover (credit‑card approvals)
• American Express (certain card lines)
• USAA (auto and mortgage loans)
• Navy Federal Credit Union (auto, mortgage, personal loans)
• PenFed Credit Union (mortgages)
• Ally Financial (auto loans)
• CarMax Auto Finance (auto loans)

For the latest confirmation, see Consumer Financial Protection Bureau's 2023 FICO score update.

FICO 8 determines whether a borrower is approved for a mortgage and the rate they are offered.

Lenders typically set minimum score requirements that align with the official FICO ranges: Poor <580, Fair 580‑669, Good 670‑739, Very Good 740‑799, Exceptional 800+. A borrower in the Good or higher brackets generally clears most conventional‑loan guidelines, while those in Fair may be limited to higher‑priced or government‑backed programs. Scores below 580 often trigger a denial or require a co‑signer.

• Approval cutoffs: Most major banks require at least a Fair score (580) for a 30‑year fixed loan; many credit unions set the bar at Good (670) for the best‑rate products.
• Rate tiers (2023‑2024 data): A borrower with a Good score (670‑739) typically sees an APR 0.25‑0.50 percentage points higher than an Exceptional borrower (800+). Very Good scores (740‑799) usually secure rates within 0.10‑0.25 points of the top offers.
• Loan‑to‑value impact: Higher FICO 8 scores often allow lenders to offer larger loan‑to‑value ratios, reducing the need for private‑mortgage insurance.
• Mortgage‑insurance premiums: For FHA loans, a score below 620 can increase the mortgage‑insurance premium by up to 0.5 percentage points, according to Federal Reserve mortgage‑rate reports.

In practice, moving from a Fair (650) to a Good (720) score can shave roughly 0.30 percentage points off a 30‑year fixed rate, translating to thousands of dollars saved over the loan's life, while also expanding the pool of qualifying loan programs.

FICO® Score 8 determines auto loan approvals by placing borrowers into the official score ranges: Poor (<580) typically sees denial or very high rates, Fair (580‑669) gets approved only with substantial down payments or co‑signers, Good (670‑739) receives standard approval and average rates, Very Good (740‑799) enjoys competitive offers, and Exceptional (800+) almost always secures the lowest‑possible APRs.

Lenders reference the same brackets we outlined for mortgages, so the pattern is consistent across credit products.

In practice, a Good FICO 8 score yields APRs around 5‑6% on a new‑car loan, while a Very Good score drops the range to 3‑4%, and Exceptional borrowers often lock in sub‑3% rates  -  according to the 2024 auto loan interest rate guide.

The lower the score, the higher the rate and the smaller the loan amount a lender is willing to fund. This sets the stage for the next section on how FICO 8 influences renting and security deposits.

Landlords typically run a soft pull of your FICO® Score 8, and a score in the Good range (670‑739) generally clears the screening, while Fair (580‑669) often requires higher income verification and Poor (580) usually results in a denial or a requirement for a co‑signer.

When the application passes, the same score usually determines the security deposit: Good or Very Good (740‑799) renters often pay one month's rent, Fair scores commonly face deposits of one to two months, and Poor scores may be asked for two to three months or a guarantor's promise.

Because many states cap deposits at a maximum of two months' rent, landlords sometimes add non‑refundable fees or require a higher‑priced lease if the tenant's FICO 8 falls below Good; checking the lease's credit‑policy clause can reveal these options. For a detailed look at how credit scores shape rental practices, see the National Multifamily Housing Council study on credit checks.

Yes, FICO® Score 8 can affect what you pay for auto and homeowners insurance because most insurers use a credit‑based insurance score that draws on the same credit data and therefore moves in tandem with the official FICO ranges (Poor < 580, Fair 580‑669, Good 670‑739, Very Good 740‑799, Exceptional 800+); typically a Good rating (670‑739) earns a premium about 5 % lower than a Fair score, a Very Good rating (740‑799) saves roughly 10 % and an Exceptional score (800+) can shave 15 % or more off a standard rate, while a Poor score (<580) generally adds 20‑30 % to the same policy,

so a driver with a 720 versus a 660 may see an annual auto premium drop from $180 to $150, illustrating why the next section on 'Estimate rate changes across FICO 8 brackets' matters for budgeting your total cost of credit. FICO insurance score overview

FICO® Score 8 borrowers typically see mortgage rates drop about 0.15‑0.25 percentage points when they move up one score bracket.

• Poor (580) - rates generally sit around 4.75‑5.00 % APR; moving into Fair can shave ~0.20 % off the rate. Freddie Mac Primary Mortgage Market Survey
• Fair (580‑669) - rates usually range 4.60‑4.80 %; upgrading to Good often trims 0.15‑0.20 % points.
• Good (670‑739) - typical APR 4.45‑4.65 %; stepping into Very Good can lower the rate by roughly 0.15 % points.
• Very Good (740‑799) - lenders offer about 4.30‑4.45 % APR; reaching Exceptional may cut 0.10‑0.15 % points. CFPB Credit Trends
• Exceptional (800+) - rates commonly fall between 4.15‑4.30 % APR; any further score increase yields minimal additional savings.

Boost your FICO® Score 8 by applying these five proven actions.

1. Pull your credit reports and dispute errors - Request the free annual reports from the three bureaus, scan for inaccurate late payments or balances, and file disputes online. Typically, correcting a single erroneous late mark can raise the score 30 to 50 points.
2. Trim credit‑card utilization below 30  % - Aim for a utilization rate under 30 %, and if possible under 10 % for faster gains. For example, with a $5,000 total limit, keep balances under $500. Generally, lower utilization signals better risk management and lifts scores within a few billing cycles. Understanding credit utilization ratios
3. Pay every bill on time - Set up automatic payments or calendar reminders. Payment history accounts for roughly 35 % of the FICO 8 calculation, so consistent on‑time payments are the single biggest driver of improvement.
4. Preserve the age of your oldest accounts - Keep long‑standing credit cards open, even if you use them rarely. Closing them reduces the average age of credit and can shave points, especially for those in the Good (670‑739) bracket.
5. Add a modest installment loan if you lack credit mix - A small personal loan or a credit‑builder loan introduces an installment component, which can help if your mix is limited to revolving credit. Apply only for credit you truly need; each hard inquiry typically drops the score 5 to 10 points for a short period.

If you have a thin FICO 8 file, your score will usually fall in the Fair (580‑669) or the low‑end of Good (670‑739) range because the model has few accounts to evaluate.
A thin file means you have three or fewer revolving accounts, limited installment history, and little recent activity.
Lenders typically view this as higher risk, so the score may not reflect your true creditworthiness.

To strengthen a thin file, consider these actions: become an authorized user on a family member's long‑standing card; open a secured credit card with a low limit and use it for small purchases each month, paying the balance in full; apply for a credit‑builder loan from a community bank or credit union; enroll rent‑payment or utility‑billing services that report to the bureaus; keep any existing balances below 30 % of the credit limit; and avoid unnecessary hard inquiries. For example, a 27‑year‑old with only a student loan added a $300 secured card, charged $25 each month, and paid it off; after six months, their FICO 8 climbed roughly 25 points.
Because a thin file magnifies the impact of errors, monitor your report closely and be ready to dispute inaccuracies in the upcoming 'Dispute FICO 8 credit report errors fast' section. For more on how FICO Score 8 treats limited credit histories, see FICO Score 8 overview.

Dispute FICO 8 credit report errors fast by pulling your reports, filing precise online challenges, and following up with certified‑mail escalations if needed.

• Get the latest FICO 8‑based credit files from Experian, Equifax, and TransUnion within 24 hours; use Consumer Finance.gov for free annual access.
• Highlight each inaccuracy (balance, late‑payment date, account status) and collect proof such as statements or payment confirmations.
• Submit an online dispute to the reporting bureau that listed the error; copy the same information into a short, typed letter and attach supporting docs.
• Mark the dispute 'urgent' and request removal or correction within 30 days; the bureau must investigate and email results.
• If the bureau's response doesn't correct the item, send the same packet via certified mail, demand a written reply, and log the tracking number.
• Review the updated reports; repeat the process for any lingering errors before moving to the next section on raising your FICO 8 score.