Unarguably the most recognizable credit score model the fico score was introduced by the fair isaac corporation in 1989 as an objective tool for evaluating borrower credit risk.
Credit score range excellent good fair poor.
If you re high in the range you may feel more.
That means the same credit score could represent something different depending on which credit model a lender uses.
If you check your credit and see you re low in the credit score range and may not get the best rate you might want to hold off applying for a mortgage until you ve built better credit.
Excellent good fair poor 820 credit score.
If your credit score falls within the good fair or bad ranges and you want to get an excellent credit score follow these tips to help raise your credit score.
Base fico score ranges.
The fico models compare consumers and essentially rank them based on their likelihood to repay credit obligations as agreed.
How much cheaper are loans with great credit.
A vantagescore 3 0 score of 661 could put you in the good range for example while a 661 fico score may be considered fair.
Fico auto score range.
The current credit scoring models from fico competitor vantagescore solutions llc also use a score range of 300 to 850 but because vantagescore models are calibrated differently from fico models a score of 700 generated by those models vantagescore 3 0 or vantagescore 4 0 is considered good verging on fair.
As you can see different credit scoring models may have different ranges and scoring criteria.
You simply need a credit score which falls into the exceptional or excellent credit score range.
Tips for getting a mortgage with a 680 credit score.
Fico credit score ranges.