What is a Good Credit Score?

The answer to this question everything depends on your lender and the way they rate and determine what is a good credit score. It’s highly recommended that you speak to your lender and discuss this question; however we can make general assumptions here, when we consider standard FICO scores, which go up till 850:

  • 750 or higher: this tends to be an excellent credit score. With a 770 credit score, you can obtain the best credit loan rates possible.
  • Between 700 and 750: 725 is an average credit score in the United States. The credit scores here range between excellent to good credit score.
  • Between 700 and 650: considered to be a very good credit score. Again, the score varies in different industries.
  • Between 650 and 600: just a good credit score. Often the minimum for a good credit score is established at 620 since this is the cutoff for the prime credit loan rates.
  • Below 600: this seems to be a high lending risk for lenders. Although you still can obtain loans and credit cards, they all will be secured.
  • Below 550: considers to be an awful credit score – bankruptcies, past-due accountants and so on.

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