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What is FICO Credit Score Range?

Do you want to know what a good credit score is? FICO credit scores range from 300 to 850, where higher scores indicate lower credit risk for the lenders. FICO stands for Fair Isaac Corporation. Improving your credit scores can help you to Lower your interest rates and Get better credit card, auto loan and mortgage offers.

What is a good credit score? It totally depends on the type of the loan you’re trying to get. Here’s the FICO Credit Score Range( which I took from my Credit union website).

Great 760-850
Very Good 725-759
Good 660-724
Not Good 560-659
Bad 300-559

 

What is in your FICO score ?
Al the below all categories of information(both positive and negative information) are included in your FIFO score, not just one or two.

  • Payment History– 35%
  • Types of Credit Used– 10%
  • Amounts Owed– 30%
  • New Credit– 10%
  • Length of Credit History– 15%

30 Year Fixed Mortgage Rates

Sample FICO scores and potential interest rates from myFICO.com. Interest rates accurate as of June 10, 2011 for a$300,000 home mortgage.

FICO® score APR Monthly payment
760-850 4.069% $1,444
700-759 4.291% $1,483
680-699 4.468% $1,514
660-679 4.682% $1,553
640-659 5.112% $1,631
620-639 5.658% $1,733

for more information visit www.myfico.com

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