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What is considered a "good" credit score? Answer: Since
there's no one "score cutoff" used by all lenders, it's hard to
say what a good score is outside the context of a particular
lending decision. For example, one auto lender may offer lower
interest rates to people with FICO scores above, say, 680;
another lender may use 720, and so on. Your lender may be able
to give you guidance on the criteria for a given credit product.
For your reference, here's a break-out of FICO scores for the
general US population:
|
FICO
Score Range |
% of US
Population |
| Below 620 |
20% |
| 620 - 690 |
20% |
| 690 - 740 |
20% |
| 740 - 780 |
20% |
| Above 780 |
20% |
Source: www.myfico.com Copyright © 2000-2003 Fair Isaac
Corporation. All rights reserved. This information may be freely
copied and distributed, without modification.
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