In most cases, a 900 credit score isn't possible as the maximum credit score caps out at 850 on the FICO model and the VantageScore model- the most commonly used credit scoring models in the United States. That said, having good credit can start at around 700.
According to FICO, only 1.6% of the population has an 850 credit score. It's incredibly tough to get there, but reaching an 850 score is possible.
The base FICO Scores range from 300 to 850, and the good credit score range is 670 to 739.
And when it comes to credit, 850 is the highest the FICO® Score☉ scale goes. For more and more U.S. consumers, practice is making perfect. According to recent Experian data, 1.54% of consumers have a "perfect" FICO® Score of 850. That's up from 1.31% two years earlier.
Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.
Your FICO score is a representation of your credit worthiness. FICO offers specific products and solutions for car dealers and auto loans. Their product is called Auto Score 8. As you can see here from FICO's promotional materials, Auto Score 8 is meant to help dealers, “Improve accuracy and speed of decision making.
Many believe that it is impossible to perfectly satisfy all these conditions and get a credit score of 900. Others believe it is possible, but exceedingly rare. In fact, approximately 1% of people have a credit score of 850 or more, and an even smaller portion of Canadians could achieve 900.
Your FICO Score is a credit score. But if your FICO score is different from another of your credit scores, it may be that the score you're viewing was calculated using one of the other scoring models that exist.
The average FICO credit score in the US is 717, according to the latest FICO data. The average VantageScore is 701 as of January 2024.
If you pay off your only active installment loan, it is considered a closed credit account. Having no active installment loans, or having only active installment loans with relatively little amounts paid off on those loans can result in a score drop.
At first, the VantageScore used a very different scoring range, 501–900, but in 2013 it changed its range to be the same as FICO: 300–850. Both use similar scoring factors, although the VantageScore places more weighting emphasis on the length of an individual's credit history.
71.3% of Americans have a FICO Score of 670 (good) or better. 21.2% have an exceptional FICO credit score of 800 or above. FICO credit scores generally increase with age, with older generations having higher averages.
Tier 8: An extremely poor score of 579 or below means you “have an extremely poor credit history or I have no credit history at all.”
Key Takeaways. FICO scores range from 300 to 850.
Key takeaways. In most cases, the highest credit score is 850, though a couple of FICO score models go up to 900. One person can have several credit scores, since FICO, VantageScore and others each have different scoring systems with different weightings.
Generally, a good credit score to buy a car falls within the range of 660 to 720 or higher. However, it's important to note that each lender has different criteria, and some may consider lower credit scores as well.
FICO® and VantageScore® are the two most popular credit scoring models today. The credit scores they assign are equally reliable and accurate, based on the specific credit scoring model that's being used. Scores can and do fluctuate as new data is received.
There isn't one specific score that's required to buy a car because lenders have different standards. However, the vast majority of borrowers have scores of 661 or higher.
The average credit score in the United States is 705, based on VantageScore® data from March 2024. It's a myth that you only have one credit score. In fact, you have many credit scores, because there are many different types of credit scores and scoring models. It's a good idea to check your credit scores regularly.
Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.
300 is the lowest credit score that a person can have. It's impossible for a score to drop below 300 for any reason. Learning how credit scores work can be mystifying, especially if you're establishing credit for the first time.