It would be impossible for me to determine a hard number that would be considered a good credit score. This is because a good credit score is determined by the lender in which you are attempting to establish credit.
I will give a general rule of thumb at the end of this article, but I am first going to quote from Experian, one of the credit bureaus:
“A ‘good’ credit score depends on the scoring system used by your particular lender. Different scoring systems use different scales. However, if you have a good credit score from one of the credit reporting agencies, you are likely to have a good credit score with your lender. Most credit scores fall between 600 and 750. A score above 700 usually suggests good credit management” (http://www.experian.com/credit-education/what-is-a-good-credit-score.html).
With that being said, other factors are taken into consideration when trying to get credit, such as your employment history, income, your savings and investments, and your debt to income ratio. One factor alone is not a determining factor for obtaining credit.
Also, it a good credit score depends on the market. During the real estate boom in the early to mid-2000’s, having average credit (650) was okay to get a mortgage while a sub-prime mortgage (below 620) was a market specialty. After the real estate market collapse which began in 2006, there was a period where you couldn’t get a loan unless you had perfect credit.
Consider your credit score like your grade in the financial school of life and your credit report akin to your report card. If it’s bad, you need take corrective actions to improve it in order to be considered by financial institutions as a reliable candidate. Once that happens, you will enjoy opportunities to save considerable money on loans. Money which can then be invested for compounded interest to build real, long term wealth.
But you don’t need good credit to get started! You just need to include credit building in your plan.