Discover what a good credit score is under VantageScore model and what factors can affect your score for better or for worse.
Having a good credit score or higher can open financial opportunities. For example, if you’re looking to buy a home, a score of 500 is the minimum credit score requirement to qualify you for anFHA loan.However, many major lenders require a minimum score of 580 for FHA loans. Conventional...
Your Credit Score Has to Be Good, but Not PerfectOff The Shelf
A good credit score is generally somewhere between 661 and 780. But what’s considered a good credit score depends on where a score comes from, who calculates it and who judges it. Lenders may set their own credit policies and standards to determine creditworthiness. And the way scores are ...
Depending on the scoring system, credit score ranges can generally be classified as poor, fair, good, very good, and excellent (or exceptional). What is a good credit score? Breaking down the ranges Credit score ranges aren’t set in stone. Experian, for example, considers a VantageScore ...
What Is a Good FICO Score? The FICO score ranges from 300 to 850 and actually has two categories for good credit. Here are the credit score ranges: Exceptional: 800+. Very good: 740 to 799. Good: 670 to 739. Fair: 580 to 669. Poor: 579 and lower. The average FICO score as of...
740 to 799 – Very good credit score 670 to 739 – Good credit score 580 to 669 – Fair credit score Below 580 – Poor credit score So when someone asks,“what is a good credit score,”you have the answer. It would be best if you always strived to achieve an excellent score to bo...
Very good: 740 to 799 Excellent: 800 to 850 VantageScore Very poor: 300 to 499 Poor: 500 to 600 Fair: 601 to 660 Good: 661 to 780 Excellent: 781 to 850 What factors influence your credit score Credit scores are calculated differently depending on the credit scoring model. Here are the...
No specific credit score will qualify you for a mortgage because lenders look at multiple factors, and your credit score is just one of them. Your credit score, a number that lenders use to estimate the risk of extending credit or lending money, is a key factor in determining if you will...
Credit Score Ranges: What They Mean Once you receive your credit report, you’ll see scores ranging from 300 to 850. Here are the credit score ranges for a consumer: Excellent Credit: 850-800 Very Good Credit: 799-750 Good Credit: 749-700 ...