Credit scores help lenders decide whether to grant you credit. The average credit score in the United States is 698, based on VantageScore® data from February 2021. It's a myth that you only have one credit score. In fact, you have many credit scores.
FICO says scores between 580 and 669 are considered "fair" and those between 740 and 799 are considered "very good." Anything above 800 is considered "exceptional." According to FICO, the average credit score in 2021 was 716, which falls in the good range.
Equifax reports that scores between 670 and 739 are considered to be good credit scores. Meanwhile, scores ranging from 580 to 669 are considered to be fair12.
When a lender or landlord reviews your credit, it might use one of two credit scoring models: VantageScore or FICO. Both scoring models range from 300 to 850. And according to a July 2021 VantageScore report, the average credit score in America is 697.
For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750.
As mentioned above, a 680 credit score is high enough to qualify for most major home loan programs. That gives you some flexibility when choosing a home loan. You can decide which program will work best for you based on your down payment, monthly budget, and long–term goals – not just your credit score.
A 718 credit score is a good credit score. ... The good-credit range includes scores of 700 to 749, while an excellent credit score is 750 to 850, and people with scores this high are in a good position to qualify for the best possible mortgages, auto loans and credit cards, among other things.
A 750 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.
Your FICO® Score falls within a range, from 740 to 799, that may be considered Very Good. A 785 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders' better interest rates and product offers.
An 800-plus credit score shows lenders you are an exceptional borrower. You may qualify for better mortgage and auto loan terms with a high credit score. You may also qualify for credit cards with better rewards and perks, such as access to airport lounges and free hotel breakfasts.
A 747 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.
Your 804 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.
A conventional mortgage is often best for those with a credit score of 700 or higher. (Generally, the credit score requirement is 620 and above.) Benefits of a conventional loan include: Buy a house with as little as a 3% down payment.
A FICO® Score of 730 falls within a span of scores, from 670 to 739, that are categorized as Good. ... 21% of U.S. consumers' FICO® Scores are in the Good range. Approximately 9% of consumers with Good FICO® Scores are likely to become seriously delinquent in the future.
Your FICO® Score falls within a range, from 740 to 799, that may be considered Very Good. A 793 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders' better interest rates and product offers.
In Canada, your credit score ranges from 300 to 900, 900 being a perfect score. If you have a score between 780 and 900, that's excellent.
A 765 credit score is often considered very good — or even excellent. With excellent credit, your credit scores become more of a bridge and less of a roadblock — a high score can help you qualify for premium rewards credit cards, auto loans and mortgages with the best terms.
A 780 credit score is often considered very good — or even excellent. With excellent credit, your credit scores become more of a bridge and less of a roadblock — a high score can help you qualify for premium rewards credit cards, auto loans and mortgages with the best terms.
A 735 credit score is considered a good credit score by many lenders. “Good” score range identified based on 2021 Credit Karma data. With good credit scores, you might be more likely to qualify for mortgages and auto loans with lower interest rates and better terms.
A 756 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.
It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly payments.
With fixed-rate conventional loans: If you have a credit score of 720 or higher and a down payment of 25% or more, you don't need any cash reserves and your DTI ratio can be as high as 45%; but if your credit score is 620 to 639 and you have a down payment of 5% to 25%, you would need to have at least two months of ...
A good credit score to buy a car is often above 660, as you're then considered a "prime" borrower. There's no industry-wide, official minimum credit score in order to qualify for an auto loan. Generally, the higher your credit score, the better terms you're likely to get on the loan.