Fico Score Range

A FICO score is a reliable method for the evaluation, which was accepted widely by most lenders. It was developed in the late 1950s by Fair Isaac & Co. and the Federal Trade Commission to find that credit score to be acceptable. Through this method, the creditworthiness of the borrower in a single figure is compressed. FICO score is between 300 and 850

Good and acceptable FICO Score Range

A>FICO score that?s above 750 is excellent while the scores ranging from 720 to 750 are rated to be very good. If you have an excellent rating some lenders give better rates or discounts.

FICO scores that range from 680 to 699 are good. This means you can qualify for a normal loan. The rating is still okay or acceptable if your FICO scores range from 620 to 679. Some lenders won't deny your credit or loan application but surely, the terms and Offers will not be as generous if your score was higher. However, they are still considered a low risk loan candidate.

Low FICO Score Range

A FICO score ranges from 580 to 619 are the brokers and banks that you love. Wondering why? Simply because this is an unsafe guests, where bad credit usually starts. Lenders are still willing to grant your loan, but on their own terms. And it means that they earn bigCommissions so that you are much more expensive credit.

Bad or risky FICO Score Range

The real problem starts with a FICO score ranges from 500 to 580 By this point your credit is bad. You can get your loan, but you certainly do not like. Consider taking this loan anyway, because it can be the beginning or the basis for your new beginning.

If you obtain a FICO score of 499 and below, you are unfortunatelyin serious need of assistance. If there are lenders who are willing to get you a loan, the terms will simply be too brutal. So the best thing you can do about it is to try to repair your bad credit.