Credit Scores

• Credit scores are used to calculate the risk presented by an individual attempting to gain credit, such as a credit card or mortgage. A credit score is used by institutions such as banks and other lenders to gauge how likely an individual is to make payments on time.
  
  

Excellent Score

• The Adjust Credit website reports an excellent credit score to be 800 or higher. Achieving an excellent credit score allows a consumer to benefit from the lowest possible interest rates and means it is extremely unlikely that an application for credit will be declined.
  
  

Very Good Score

• Adjust Credit explains a very good credit score ranges from 700 to 799, which allows a consumer to gain access to both secured and unsecured lines of credit. About 27 percent of the U.S. population has credit scores in this range.