What is considered good credit?

Any score that is above 700 is considered to be a good credit score. Most people's credit scores fall in the range of 600 to 750. There are various models used by different credit bureaus to rate credit scores.

The elements on the credit report that determines the credit score of a person includes public records, late or missed bill payments, debts and personal accounts information. A good credit score is calculated by identifying common variables and assigning weights to each variable. Credit scores can be poor or good, depending on how an individual maintains his or her general finances. Having a good score gives one an advantage in securing loans.