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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]
2004 study found the median credit score for whites in 2001 was 738, but the median credit score for African Americans was 676 and for Hispanics was 670. [ 37 ] 2004 research study found fewer than 40% of consumers who lived in high-Black Indigenous and people of color [BIPOC] neighborhoods had credit scores of over 701.
A FICO score, developed by the Fair Isaac Corporation, has been used by lenders since 1989 to evaluate consumers’ credit risk. These three-digit scores typically range from 300 to 850 (although ...
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]
In 2023, the average credit score in the U.S. was 715, according to a January report by Experian, one of the major consumer credit reporting companies. That score is considered to be right at the ...
Out of about 225,000 Bankrate users who requested credit card matches on the site in 2023, just over 21 percent fall into the fair credit score range. Having a fair credit score often means you ...
AnnualCreditReport.com is a website jointly operated by the three major U.S. credit reporting agencies, Equifax, Experian, and TransUnion.The site was created in order to comply with their obligations under the Fair and Accurate Credit Transactions Act (FACTA) [1] to provide a mechanism for American consumers to receive up to three free credit reports per year.
Meanwhile, average FICO Scores remain healthy, and increased by a point from 714 to 715 in 2023, which places the average FICO Score in the higher end of the good credit score range.