When you apply for a loan, credit card, or even rent a house, one number often decides the outcome—your credit score. This three-digit figure reflects your financial reliability, and lenders across the world use it to assess how risky it might be to offer you credit. But here’s the catch: what counts as a “good” credit score isn’t the same everywhere.
In India, a score above 750 can open doors to lower interest rates, while in the US, 670 is considered good and anything higher boosts your chances of mortgage approvals. In the UK, Canada, and Australia, credit score scales vary further depending on the credit bureau, making it confusing for anyone comparing across borders.
This guide breaks down credit score ranges country by country so you can understand exactly where you stand—whether you’re managing debt in India, planning to invest in the US, or building financial security in Australia. By the end, you’ll know what lenders see as “good credit” in your country and how to strengthen your financial profile.
What is a Credit Score? (Global Definition)
A credit score is a three-digit number that reflects your overall creditworthiness. Think of it as a financial report card — it shows how well you manage borrowed money. The score is calculated based on factors like your repayment history, credit utilization, length of credit history, and recent borrowing activity.
For lenders, landlords, and even some employers, this number is a quick way to predict whether you are likely to repay debts on time. Banks and credit card companies rely on it to decide loan approvals, interest rates, and credit card limits. Landlords may check it before offering you a rental, while financial institutions often use it to assess risk when extending new credit lines.
Different countries have different credit bureaus that calculate these scores:
- CIBIL, Experian, Equifax, and CRIF High Mark in India
- Equifax, Experian, and TransUnion in the US, UK, Canada, and Australia
Each bureau uses its own formula, so the exact number may vary slightly. Still, the basic principle remains the same — a higher score signals lower risk, giving you better financial opportunities. Building and maintaining a strong score helps you access credit more easily and manage debt responsibly.
If you’re already struggling with repayments, check our guide on how to manage debt responsibly for proven strategies that can help you regain control.
Credit Score Ranges in India
In India, credit scores are issued by four major credit bureaus: CIBIL, Experian, Equifax, and CRIF High Mark. While each bureau may use slightly different models, the scale remains consistent—300 to 900, with higher scores reflecting stronger creditworthiness.
- Excellent (750–900): Considered very good, often securing the best interest rates and the highest approval odds.
- Good (700–749): Acceptable for most loans and credit cards, though not always at the lowest interest rates.
- Fair (650–699): May still get approvals, but with tighter conditions and higher rates.
- Poor (<650): A red flag for lenders, making approvals difficult.
A score of 750+ is widely regarded as “good” in India, giving borrowers a significant edge when applying for loans, credit cards, or even renting property.
Impact on Loan Approvals and Interest Rates
Banks and financial institutions in India use these scores as a first filter when assessing applications. For example, a borrower with 800+ may not only have higher loan approval chances but also unlock preferential interest rates compared to someone at 680. On the other hand, applicants with low scores often face rejections or must accept loans at much higher costs.
👉 To understand how credit score influences your borrowing options, see our guide on Personal Loan vs. Credit Card Loan: Which One Should You Choose?
RBI Guidelines and Oversight
The Reserve Bank of India (RBI) plays a crucial role by regulating these credit bureaus. RBI mandates timely reporting of repayment data and ensures fair practices in how scores are calculated and updated. This regulatory framework provides borrowers some protection, such as the right to dispute errors in their reports.
Maintaining a healthy credit score not only saves money on interest but also opens up smoother access to credit when you need it most.
Credit Score Ranges in the US
In the United States, your credit score plays a central role in almost every major financial decision—from buying a home to getting approved for a new credit card. Two main scoring models are widely used: FICO and VantageScore.
- FICO Score: The most common model used by lenders, ranging from 300 to 850.
- 670–739: Considered a good score.
- 740–799: Classified as very good, often qualifying for better loan terms.
- 800 and above: Labeled excellent, opening access to the lowest interest rates.
- VantageScore: Another popular model, also ranging from 300 to 850. While the ranges are similar, some lenders may weigh the categories slightly differently.
A strong credit score directly impacts your mortgage eligibility, auto loan interest rates, and credit card approvals. For example, a borrower with a 750 score is far more likely to secure a lower mortgage rate compared to someone with a 650 score, potentially saving thousands over the life of the loan. Similarly, auto loan providers often reward higher scores with longer repayment options and reduced interest costs.
Beyond traditional borrowing, good credit also supports broader goals of financial freedom in the US, such as qualifying for premium credit cards with cashback or travel rewards—tools that can complement other wealth-building strategies like financial freedom in the US through passive income.
Credit Score Ranges in the UK
In the UK, your credit score can look very different depending on the credit reference agency you check. Unlike some countries where the scoring range is standardized, the UK uses three major providers—Experian, Equifax, and TransUnion—each with its own scoring scale.
- Experian: 0–999 (a score of 881+ is considered good, and 961+ is excellent).
- Equifax: 0–700 (a score of 420+ is good, and 466+ is excellent).
- TransUnion: 0–710 (a score of 604+ is good, and 628+ is excellent).
This variation often confuses people, but the principle is the same: the higher your score within that provider’s range, the more trustworthy you appear to lenders.
A strong credit score in the UK is particularly important if you are:
- Applying for a mortgage — better scores improve approval chances and interest rates.
- Getting a mobile phone contract — providers often run soft checks to ensure you can keep up with monthly payments.
- Opening new credit cards or loans — banks offer higher credit limits and better rewards to borrowers with excellent scores.
Building and maintaining a good credit score is a key part of your broader investment journey in the UK, just as understanding whether to choose Mutual Funds vs ETFs: Which Is Right for You? helps you grow wealth strategically.
Credit Score Ranges in Canada
In Canada, your credit score is one of the most important numbers that shapes your financial life. It’s a three-digit number, provided mainly by Equifax and TransUnion, that helps lenders evaluate how risky—or reliable—you are as a borrower.
Canadian credit scores range from 300 to 900. Generally:
- 660 and above is considered good.
- 725 and above is viewed as very good.
- 760+ often qualifies you for the most competitive interest rates and higher credit limits.
A strong credit score doesn’t just affect your ability to get a loan. It also plays a role in:
- Renting a home: Many landlords check credit reports before approving tenants.
- Loans and mortgages: Higher scores unlock lower interest rates and faster approvals.
- Credit card approvals: Banks use your score to decide your eligibility and credit limits.
- Everyday costs: In some cases, even utility companies or insurance providers may factor in credit history.
Building and maintaining a healthy score isn’t just about borrowing—it’s about creating long-term stability. With a solid credit profile, Canadians can grow wealth faster in Canada by reducing borrowing costs and freeing up more money for investments like savings accounts, mutual funds, or compound-growth strategies.
If you want to see how your money can multiply over time, check out our guide on how compound interest builds wealth: examples & calculator
Credit Score Ranges in Australia
In Australia, three main credit reporting agencies — Equifax, illion, and Experian — provide credit scores. Each bureau uses slightly different scoring scales, so it’s important to know how your number is interpreted.
- Equifax & Experian: Scores typically range from 0–1,200.
- illion: Scores usually range from 0–1,000.
Across all providers, the general benchmarks are:
- Good credit: 625 and above
- Excellent credit: 800 and above
A higher score signals that you are a lower-risk borrower, which makes it easier to qualify for credit cards, home loans, or personal loans at competitive interest rates. Conversely, a lower score may limit your options or lead to higher borrowing costs.
Australian banks and lenders rely heavily on these scores to assess whether you can manage repayments and handle financial commitments responsibly. They also consider your repayment history, credit utilization, and length of credit history.
Maintaining a strong credit score works hand-in-hand with building smart savings strategies. For example, using approaches like managing savings alongside credit health in Australia can help you create a safety net through FD laddering while keeping your credit profile strong.
Global Credit Score Comparison Table
Credit scores differ around the world depending on the bureau and scoring model used. Here’s a quick comparison of “Good” and “Excellent” credit score thresholds in major countries:
| Country | Credit Score Range | Good Credit Score | Excellent Credit Score | Main Bureaus |
|---|---|---|---|---|
| India | 300 – 900 | 750+ | 800+ | CIBIL, Experian, Equifax, CRIF High Mark |
| United States | 300 – 850 | 670+ | 740+ | FICO, VantageScore |
| United Kingdom | 0 – 999 (Experian), 0 – 700 (Equifax), 0 – 710 (TransUnion) | 700+ (Equifax), 880+ (Experian), 600+ (TransUnion) | 961+ (Experian), 475+ (Equifax), 650+ (TransUnion) | Experian, Equifax, TransUnion |
| Canada | 300 – 900 | 660+ | 725+ | Equifax, TransUnion |
| Australia | 0 – 1000 (Experian, illion), 0 – 1200 (Equifax) | 625+ (Experian/illion), 661+ (Equifax) | 800+ (Experian/illion), 853+ (Equifax) | Equifax, Experian, illion |
Quick Reference for Readers
India: Aim for 750+ to qualify for most loans at lower rates.
- US & Canada: A score above 700 is considered strong and improves access to premium credit cards and mortgages.
- UK: Each bureau has a different scale, but being in the top 20% of the range generally means “Good”.
- Australia: Above 800 is “Excellent”, giving borrowers the best interest rates.
Tip: Regardless of the country, lenders reward consistent repayments, low credit utilization, and a stable credit history.
How to Improve Your Credit Score (Universal Tips)
Building and maintaining a strong credit score takes time, but the habits are simple and universal. Whether you are in India, the US, the UK, Canada, or Australia, these practical steps can help you raise your score and keep it healthy.
1. Pay Bills on Time
Your payment history is the single most important factor in your credit score. Late or missed payments can stay on your record for years. Set reminders or automate payments to ensure you never miss due dates. Even small bills—like phone or utility payments—can make a difference.
2. Keep Credit Utilization Low
Credit utilization means how much of your available credit you’re using. Experts recommend keeping it below 30%. For example, if your credit card limit is ₹1,00,000 or $10,000, try not to carry more than ₹30,000 or $3,000 in monthly balances. Lower utilization signals responsible credit management.
3. Avoid Frequent Hard Inquiries
Each time you apply for a new loan or credit card, lenders run a “hard inquiry,” which can temporarily lower your score. Applying for multiple accounts in a short period is a red flag. Only apply for new credit when truly necessary, and research eligibility before submitting applications.
4. Maintain Old Accounts
Length of credit history matters. Closing old accounts reduces your average account age and can harm your score. Even if you don’t use an older card often, keep it open with occasional small purchases to show consistent and responsible usage.
5. Dispute Errors
Errors in credit reports are more common than people think. Check your credit report regularly and dispute inaccuracies—like incorrect payment records or accounts that don’t belong to you. Correcting these mistakes can quickly boost your score.
Pro Tip: Building good credit isn’t just about loans. Having a financial backup through an emergency fund ensures you don’t rely on credit during tough times. Also, staying on top of your tax compliance helps too, since defaults or delays in official obligations can indirectly affect your creditworthiness.
Conclusion
Understanding how credit scores work in different countries is more than just a financial detail—it’s the foundation of your financial journey. Whether you’re in India, the US, the UK, Canada, or Australia, knowing what qualifies as a “good” score helps you make smarter choices about loans, credit cards, and even everyday opportunities like renting or securing a job.
A strong credit score isn’t just a number—it’s a passport to better financial opportunities. From lower interest rates to higher approval chances, maintaining a healthy score ensures you have the flexibility and security you need to reach your goals.
Ready to see how much you could save with the right credit profile? Explore our Loan Balance Transfer Checker in the Tools section and discover how your credit score can unlock real savings.
Frequently Asked Questions
1. What is considered a good credit score in India?
In India, a score of 750 or above (out of 900) is generally considered good. Lenders view this as low risk, improving chances of loan approvals at better interest rates.
2. What is a good credit score in the USA?
In the US, most lenders use the FICO score (300–850). A score of 670+ is good, while 740+ is very good and opens access to premium credit cards and low-rate mortgages.
3. What is considered a good credit score in the UK?
Credit scores in the UK differ by bureau:
- Experian: 881+ out of 999 is good.
- Equifax: 420+ out of 700 is good.
- TransUnion: 604+ out of 710 is good.
4. What is a good credit score in Canada?
In Canada, credit scores range 300–900. A score of 660 or higher is usually good, while 725+ is very good and improves mortgage approval chances.
5. What is a good credit score in Australia?
Australian bureaus score differently:
- Equifax: 666+ out of 1200 is good.
- Experian: 625+ out of 1000 is good.
- illion: 500+ out of 700 is good.
6. Why do credit score ranges differ by country?
Each country uses different credit bureaus, scoring models, and financial regulations. That’s why “good” means 750 in India but 670 in the US.
7. How can I check my credit score for free?
Most countries have free portals or annual credit reports. For example:
- India: CIBIL/Experian free reports.
- USA: AnnualCreditReport.com.
- UK, Canada, Australia: Bureau websites or banking apps.
8. Does a good credit score guarantee loan approval?
No. A good credit score increases approval chances, but lenders also check income, employment stability, and debt-to-income ratio.
9. How can I quickly improve my credit score?
Pay bills on time, lower credit card balances, avoid too many new applications, and dispute errors in your credit report.
10. What credit score is needed for a home loan?
It varies:
- India: 750+ is best.
- US: 620+ for conventional loans, 740+ for best rates.
- UK/Canada/Australia: Good to very good scores improve approval odds and lower interest costs.