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The average FICO Score 8 in the US was 710 in 2020 and 716 in April 2021. [18] The FICO bankcard score, FICO auto score, FICO personal finance score, and FICO installment loan score are between 250 and 900. The FICO Mortgage Score and FICO Score XD 2 are between 300 and 850. [19] [20] Higher scores indicate lower credit risk. [21]
Key takeaways. FICO Scores are the most common scores used by lenders across the U.S. There are multiple versions of FICO scores, each using different criteria.
The company debuted its first general-purpose FICO score in 1989. [3] FICO scores are based on credit reports and "base" FICO scores range from 300 to 850, [3] while industry-specific scores range from 250 to 900. [11] Lenders use the scores to gauge a potential borrower's creditworthiness. [12]
Factors contributing to someone's credit score, for en:Credit score (United States). Date: 31 December 2006: Source: Created by me in Inkscape based on en:Image:Credit-score-chart.jpg: Author: User:Pne: Permission (Reusing this file) based on en:Image:Credit-score-chart.jpg, which is licensed as cc-by 2.0 (among other licences) Other versions
You have an excellent credit score if your credit score falls within the 800 to 850 range for FICO — which is most commonly used by lenders — and the 781 to 850 range for VantageScore.
It’s possible to get personal loans for fair credit — typically a FICO score is between 580 and 669. ... VantageScore range. Excellent. 800-850. 781-850. ... as you’ll likely damage your ...
In Australia, credit scoring is widely accepted as the primary method of assessing creditworthiness. Credit scoring is used not only to determine whether credit should be approved to an applicant, but for credit scoring in the setting of credit limits on credit or store cards, in behavioral modelling such as collections scoring, and also in the pre-approval of additional credit to a company's ...
If you have a FICO credit score over 800, your credit is considered exceptional — and, 24.1 percent of the scorable population had credit scores in the 800 to 850 range in April 2023, according ...