The answer to "what is a good credit score?" depends entirely on what you are trying to do. A 680 is good enough for most personal loans but not for prime mortgage rates. A 720 unlocks premium funding but not the Elite tier on Storehouse360.
Here is what each FICO range actually unlocks in the real world.
FICO Score Ranges and What They Mean
Best mortgage rates (sub 3% when available), instant unsecured funding approval, premium credit cards with highest limits.
Near-prime mortgage rates, strong credit card approvals, business loans with favorable APRs.
Average approval rates on most products. Mortgage approval with standard rates. Funding at medium tiers.
Subprime rates on loans. Many lenders will require co-signers. Business funding limited to secured products.
Most unsecured credit unavailable. Secured cards only. Business funding very limited.
The Score That Actually Matters for Funding
When a lender checks your credit, they pull all three bureaus and use your middle score -- not the highest, not the lowest, but the median of Experian, Equifax, and TransUnion. Storehouse360 tracks this number specifically because it is what lenders see.
A 30-50 point gap between bureaus is common, especially if one bureau has a negative item the others do not. This is why per-bureau monitoring matters -- you need to see which bureau is dragging your middle score down.
How Quickly Can You Improve Your Score?
The factors that move fastest:
- Credit utilization -- Paying down balances can raise your score within one billing cycle. Staying below 10% utilization adds the most points.
- Dispute removals -- Successfully removing a collection or late payment can add 20-80 points in 30-45 days depending on its severity.
- Authorized user -- Being added to someone else's account with a long, clean history can add 20-40 points quickly.
The factors that take time:
- Payment history -- Building a consistent on-time payment record takes months. Missing a payment is immediately damaging.
- Credit age -- Average age of accounts grows slowly. Do not close old cards, even if you do not use them.
What Score Do You Need for Your Goal?
- Mortgage (prime rates): 740+ recommended, 680+ to qualify
- Car loan (good rates): 700+
- Business funding to $75K: 660+
- Business funding to $200K: 720+
- Business funding to $400K: 780+
- Premium credit cards: 720+
Use our free Credit Score Estimator to see where you are and what it takes to reach your target score.