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The classic FICO credit score (named FICO credit score) is between 300 and 850, and 59% of people had between 700 and 850, 45% had between 740 and 850, and 1.2% of Americans held the highest FICO score (850) in 2019. [15] [16] [17] According to FICO, the median FICO credit score in 2006 was 723 [18] and 721 in 2015. [19]
Here are the most commonly used FICO credit score versions across the different credit bureaus: Score. Experian. Equifax. TransUnion. Most widely used. FICO® Score 9 FICO® Score 8. FICO® Score 9
The CIBIL credit score is a three digit number that represents a summary of individuals' credit history and credit rating. This score ranges from 300 to 900, with 900 being the best score. This score ranges from 300 to 900, with 900 being the best score.
FICO Credit Score Ranges . Excellent/Exceptional. 800-850. Very good. 740-799. Good. 670-739. Fair. 580-669. Very poor. 300-579
A lower score indicates to lenders that you may be a higher credit risk. There are three different major credit reporting agencies, Experian, TransUnion, and Equifax that maintain a record of your credit history known as your credit file. Credit scores are based on the information in your credit file at the time it is requested.
Credit scores usually range from 300 to 850 showing the customer's creditworthiness. A customer with a high credit score shows that they are creditworthy and banks will have no problem giving them a loan. If a customer has a low credit score then banks would be hesitant to give out a loan and if they do it might be with a higher interest rate. [7]
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