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Fico score range wiki10/4/2023 ![]() Good Credit: A good credit score indicates that you have some negative marks on your record such as late payments or maxed out accounts but also have some positive items like timely payments or large amounts paid off quickly. Individuals with very good credit may be offered competitive interest rates depending on their particular situation. Very Good Credit: A very good credit score indicates that you have a fairly strong history of paying back debt on time but may have some negative items on your record like late payments or maxed out accounts. Individuals with excellent credit are likely to be offered the best interest rates for loans and other forms of financing because they are considered low risk borrowers. Knowing your FICO score can help you understand where you stand in terms of being able to obtain loans and other forms of credit.Įxcellent Credit: An excellent credit score indicates that you have a good history of paying back debt on time with no major negative marks on your record, such as late payments or bankruptcies. A FICO score can range from 300-850, with higher scores indicating lower risk to lenders and vice versa.įICO scores are divided into five main categories: Excellent (800-850), Very Good (740-799), Good (670-739), Fair (580-669), and Poor (300-579). This score is calculated using information from a person’s credit report, such as payment history and account balances, as well as other factors including age of credit, types of accounts, inquiries into their credit report, and more. The FICO score is a three-digit number designed to help lenders evaluate an individual’s creditworthiness, or ability to repay borrowed money. It is important to understand what your FICO score is and what the different ranges mean in terms of your ability to obtain loans and other forms of credit. ![]() This score ranges from 300-850, with higher scores indicating better creditworthiness and lower scores representing higher risk to lenders. The FICO score is a number that lenders use to determine the creditworthiness of an individual. ![]()
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