What are the 5 levels of credit scores?

What are the 5 levels of credit scores?

What Do Your Credit Scores Mean?

• Exceptional: 800 to 850. FICO® Scores ranging from 800 to 850 are considered exceptional.
• Very good: 740 to 799. FICO® Scores in the 740 to 799 range are deemed very good.
• Good: 670 to 739. FICO® Scores in the range of 670 to 739 are rated good.
• Fair: 580 to 669.
• Poor: 300 to 579.

What is a Good personal credit rating?

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

What is an average credit score 2021?

The average American FICO score for 2021 is 716, and the average VantageScore is 695. Credit score averages vary across demographics, including by age and by state.

What tier is a 620 credit score?

Fair Credit (640-699) A credit score of 640-699 is not a good credit score, unfortunately. You need a score of at least 700 to have “good” credit. But a 640-699 credit score isn’t “bad,” either. It’s actually in the “fair” credit tier.

Is 852 a Good credit score?

An 852 credit score is excellent.

Is 714 a Good credit score?

A 714 FICO® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.

Is 738 a Good credit score?

A 738 FICO® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.

What number is perfect credit?

850
It’s considered the unicorn of the financial world: a perfect credit score, the highest number a consumer can achieve within a credit scoring system. For the FICO® Score☉ , one of the most commonly used credit scoring models, that mythical and seemingly impossible figure is 850. (FICO® Scores range from 300 to 850.)

What credit score do you need for Tier 1?

By credit standards, only credit scores close to or higher than 700 will be considered for Tier 1 credit. This means credit scores between 680 and 719 so long as the credit report shows few negative marks. If you have a credit score of 620-679, this is still considered subprime credit.