A good Fair Isaac Corporation (FICO) credit score is within the 690 to 720 range, according to Nerd Wallet. FICO credit scores range from 300 to 850, with anything under 630 generally considered to be poor.
Your FICO chart breaks down into five categories, from most to least important: payment history, amounts owed, length of credit history, new credit and types of credit used. Each of those categories weighs your score differently, with a higher end score being better.
According to ScoreInfo from FICO, a good FICO score ranges from 660 to 724. Because scores within this range are near the average score of U.S. consumers, most lenders view these scores as good.
FICO credit scores of 300 to 620 and below are generally seen as representing high risks to lenders, whereas applicants with scores around 680 to 850 are seen as low risks. Applicants with scores between 620 and 680 likely qualify for credit at prime rates, but not the ...
While the Fair Isaac Corporation's exact formula for calculating FICO credit scores is proprietary, scores are composed of payment histories, debt levels, length of credit histories, credit inquiries and mixes of credit, notes About.com. FICO scores are based on informa...
FICO scores range from 300 to 850, but there is no defined score that is considered good since lenders have different strategies and amounts of risk that they are willing to tolerate. A higher FICO score simply indicates to lenders that a credit applicant carries lower ...
Knowing one's FICO score allows monitoring and addressing any issues that appear before they become a surprise with a loan application, notes National Debt Relief. In some cases, credit reports receive erroneous information, which the consumer can then correct.