Fico Score Range

A FICO score is a reliable way for credit evaluation that has been widely accepted by most lenders. It was developed in the late 1950s by Fair Isaac & Co. and the Federal Trade Commission find this credit score to be acceptable. Through this method, the credit history of the borrower is condensed into a single number. FICO score range is between 300 and 850.

Fico Score Range

Good and Acceptable FICO Score Range

A FICO score that?s above 750 is excellent while the scores ranging from 720 to 750 are rated to be very good. If you have an excellent rating some lenders give better rates or discounts.

FICO scores that range from 680 to 699 are good. This means you can qualify for a normal loan. The rating is still okay or acceptable if your FICO scores range from 620 to 679. Some lenders won't deny your credit or loan application but surely, the terms and offers will not be as generous if your score was higher. However, you are still considered a low risk loan candidate.

Low FICO Score Range

A FICO score ranging from 580 to 619 will make brokers and banks love you. Wondering why? Simply because that is an uncertain score where bad credit usually starts. Lenders are still willing to grant your loan, but on their own terms and conditions. And it means that they earn big commissions from giving you much more costly loan.

Bad or Risky FICO Score Range

The real problem starts with a FICO score ranging from 500 to 580. With this score, your credit rating is bad. You can get your loan but you surely won't like it. Consider taking that loan anyway, since that can be the beginning or the foundation of your fresh start.

If you attain a FICO score of 499 and below, you are unfortunately in serious need of assistance. If there are lenders who are willing to get you a loan, the terms will simply be too brutal. So the best thing you can do about it is to try to repair your bad credit.

Fico Score Range
 

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