What are the 5 credit score rating ranges?
FICO 8 and 9 consumer score ranges
| Credit score ranges | Rating |
|---|---|
| 580–669 | Fair |
| 670–739 | Good |
| 740–799 | Very good |
| 800–855 | Exceptional |
What is the best credit score rating?
850
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.
Which FICO score do auto lenders use?
FICO Auto Score has several versions. Most auto lenders use FICO Auto Score 8, as the most widespread, or FICO Auto Score 9. It’s the most recent and used by all three bureaus. FICO Auto Score ranges from 250 to 900, meaning your FICO score will differ from your FICO Auto Score.
Is 790 a good FICO score?
Your FICO® Score falls within a range, from 740 to 799, that may be considered Very Good. A 790 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.
Is an 800 credit score good?
Your 800 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.
What is the best credit rating?
For VantageScore 3.0 scores, a good score is from 700 to 749 with a score from 750 to 850 being excellent. The best credit score and the highest credit score possible is 850 for both the FICO® and VantageScore models.
What is considered an excellent credit rating score?
A credit score is a number that is based on a statistical analysis performed by lenders and financial institutions that indicates a person’s ability to repay a loan. FICO scores range from 300 to 850, with a score of 750 to 850 considered excellent.
What is the difference between credit score and credit rating?
Though, both credit rating, and credit score are used to assess the credit worthiness, they have some difference between them. • Credit rating doesn’t have any mathematical expression, whereas credit score is an output of a complicated mathematical system.
What are the types of credit rating?
There are two types of credit rating: those that relate to consumers, and those that relate to businesses or to countries. Consumer credit ratings are a broad (or ‘coarse’) class of credit scores, which in turn determine risk.