An excellent credit score can make it easier to reach your financial goals. But what exactly is an excellent or “good” credit score? Is a credit score of 935 good?
In this article, we’ll break down what makes up a FICO and VantageScore credit score, the credit score ranges, and factors that affect your scores. Read on to find out if a credit score of 935 is considered good and how you may be able to reach this high score yourself.
What Is a Good Credit Score?
The FICO and VantageScore models, which are the most common credit scores, both have a range from 300 to 850. So what credit score ranges are good or excellent?
Here’s an overview of the credit score ranges for both FICO and VantageScore:
FICO Credit Score Ranges
- 800-850: Exceptional, excellent credit
- 740-799: Very good credit
- 670-739: Good credit
- 580-669: Fair credit
- 300-579: Very poor to poor credit
So for FICO Scores, a score of 800 or above is considered exceptional.
VantageScore Credit Score Ranges
- 781-850: Exceptional, excellent credit
- 661-780: Good credit
- 601-660: Fair credit
- 300-600: Very poor to poor credit
With VantageScores, a score of 781 or higher is an excellent, exceptional score.
Both scoring models have the same basic ranges for good, fair, and poor scores. But VantageScore’s range for exceptional credit starts a little lower, at 781 compared to 800 for FICO Scores.
Is a Credit Score of 935 Good?
Yes, a credit score of 935 is an exceptionally good credit score!
Whether it’s a 935 FICO Score or VantageScore, a score in the low 900s is near the top of the credit score range. It’s better than the scores of a large majority of consumers.
Most of the time, lenders will give you the best terms and lowest interest rates if your credit score is 935 or higher.
For example, a 935 credit score could potentially get you an excellent interest rate of around 3% on a 30-year fixed mortgage. That interest rate is typically reserved for people with exceptional credit.
How Your Credit Scores Are Calculated
To understand what makes a great credit score, it helps to know what makes up your scores.
The FICO and VantageScore models use information from your credit reports to calculate your credit scores. Here are the main categories they consider:
Payment history – Whether you pay your credit accounts on time. This tends to be the most important factor.
Credit utilization – How much of your available credit you’re using. Lower utilization is better for your scores.
Credit history length – The average age of your accounts and your oldest account age. Older accounts support higher scores.
Credit mix – Whether you have experience managing both installment loans and revolving credit lines.
New credit – The number of new accounts you’ve opened recently. Too many new accounts can lower scores.
Payment history and credit utilization tend to be weighted most heavily in determining your credit scores. Having a long and well-established credit history also contributes to exceptional scores.
How to Reach a 935 Credit Score
A credit score of 935 is an admirable goal if you want to qualify for the best borrowing terms. Here are some tips that may help you work towards this exceptional score:
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Pay all your bills on time. Payment history has an outsized impact on your scores. Set up autopay if it helps.
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Keep balances low. Shoot for a credit utilization rate under 10%.
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Don’t open too many new accounts at once. Apply for new credit only when you need it to avoid unnecessary hard inquiries.
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Have credit diversity. Make sure to manage both installment loans and revolving accounts responsibly.
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Check your credit reports. Dispute any errors you find that could be dragging your scores down.
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Give it time. Length of credit history accounts for 15% of a FICO Score. Let your credit age and it will help your scores.
Reaching a 935 credit score requires diligent credit management over time. But with patience and consistently responsible habits, you can get there! An exceptional credit score can save you money and open doors for your financial goals.
The Takeaway: Is a 935 Credit Score Good?
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A FICO or VantageScore of 935 is an exceptionally good credit score. It’s near the top of the credit score range.
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A 935 credit score will qualify you for the best rates and terms from lenders. It demonstrates exceptional credit management.
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Exceptional payment history, low utilization, long credit history, and responsible new accounts all contribute to reaching a score of 935.
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With time and consistently healthy credit habits, a 935 credit score is certainly achievable if you put your mind to it.
What Are the Credit Score Ranges?
Credit score ranges vary depending on the type of credit score.
| Range | Credit Score Types | |
|---|---|---|
| Recent VantageScore credit score models | 300 to 850 | VantageScore 3.0, 4.0 and 4plus⢠credit scores |
| Base FICO® ScoresΠand VantageScore credit scores models | 300 to 850 | Base FICO® Scores, such as FICO® Score 8, 9, 10 and 10 T |
| Industry-specific FICO® Score models | 250 to 900 | FICO Bankcard Scores and FICO Auto Scores (versions of the base scores for auto lenders and credit card issuers) |
Creditors often break a given credit score range into smaller groupings. These can be helpful for creating general categories for evaluating applicants and managing customers accounts. Creditors can set their own groupings, but FICO and VantageScore also have general credit score ranges and definitions. Below are the ranges for FICO® Scores, used by 90% of top lenders.
Key VantageScore Credit Score Factors
VantageScore considers the same general scoring factors that FICO does. Instead of using percentages, however, it prefers to share how influential different factors can be on the average persons VantageScore credit score.
- Payment history: extremely influential. Again, this shows whether youre repaying accounts as agreed or paying late (or not at all). Making all your payments on time can help your scores, while falling behind in payments, having accounts sent to collections and filing for bankruptcy can damage your scores.
- Total credit usage: highly influential. Your credit utilization rate on credit cards and how much you still owe on loans relative to the original loan amount can have a big effect on your VantageScore credit scores.
- Credit mix and experience: highly influential. Experience managing different types of credit accounts and having a long credit history can help your scores.
- New accounts opened: moderately influential. Recent hard inquiries and the number of recently opened new accounts can affect your scores, especially if you open lots of new accounts at once.
- Balances and available credit: less influential. How much you owe on various accounts and overall can affect your score, but not as much as other factors.
| Scoring Factor | Impact |
|---|---|
| Payment history | 35% |
| Amounts owed | 30% |
| Length of credit history | 15% |
| Credit mix | 10% |
| Recent credit applications | 10% |
| Scoring Factor | Weight |
|---|---|
| Payment history | Extremely influential |
| Total credit usage | Highly influential |
| Credit mix and experience | Highly influential |
| New accounts opened | Moderately influential |
| Balances and available credit | Less influential |
What’s a Good Credit Score (or Excellent, Fair, Bad)? What do credit score ranges mean (really)?
FAQ
What is a realistically good credit score?
For a score with a range of 300 to 850, a credit score of 670 to 739 is considered good. Credit scores of 740 and above are very good while 800 and higher are excellent. For credit scores that range from 300 to 850, a credit score in the mid to high 600s or above is generally considered good.
Does anyone have a 900 credit score?
How rare is credit score over 800?
What it means to have a credit score of 800. A credit score of 800 means you have an exceptional credit score, according to Experian. According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.
Is it possible to have a 999 credit score?
A 999 score is just an indicator of no bad credit history. Experian is the only CRA whose “score” is calculated that way and it doesn’t mean you’re actually suitable for any credit.