What is a good credit score
good credit score 680 to 719 a credit report score in the 680 and up range is good news for you you can still get decent terms from lenders although not as nice as those offered to borrowers with truly excellent credit scores having a good credit score will also save you a lot of money the lower your credit score is the higher your interest rate will be no matter what you re borrowing money for it s always extremely important to keep your credit score healthy the best credit rates are given to people with scores above 770 but a score of 700 out of a possible 850 actually the scale has 550 points ed is considered good according to fair isaac 2004 fico home purchase and refinance center rate chart top tier 760 2010 credit scores influence the credit that s available and the terms interest rate etc that lenders may offer it s a vital part of credit health when a consumer applies for credit whether for a credit card an auto loan or a mortgage lenders want to know what risk they d take by loaning money a credit score helps lenders evaluate a credit report because it is a number that summarizes credit risk based on a snapshot of a credit report at a particular point in time it is important to understand that not every credit score offered for sale online is a fico score while there are many credit scoring systems it is generally accepted that any score above 720 particularly on the fico scale is considered a good credit score to help you visualize this here s a rating scale recognize that there are no official brackets this is just an approximation of a continuous range when lenders order a credit report they can also buy a credit score that s based on the information in the report a credit score helps lenders evaluate a credit report because it is a number that summarizes credit risk based on a snapshot of a credit report at a particular point in time a credit report score in the 680 and up range is good news for you you can still get decent terms from lenders although not as nice as those offered to borrowers with truly excellent credit scores 580 619 poor 500 579 very poor having a good credit score will also save you a lot of money the lower your credit score is the higher your interest rate will be no matter what you re borrowing money for what is a good credit score 2015 range chart by scott skyles on in credit scores so you re in the market for a major purchase in your life you need to rent an apartment or you re trying to land a job knowing what your credit score is and just how good your credit score is essential
Good credit score 680 to 719.