What is considered a good credit score depends on the type of credit score used. You have multiple credit scores, but the most popular type of score is FICO, followed by VantageScore.
As you get familiar with your credit, you’ll quickly realize multiple types of scores exist. Although both FICO scores and credit scores exist, understanding which one lenders use can be helpful.
Only one in four Americans has a credit score above 800, which is considered exceptional, according to industry data.
Got FICO? Drop below 700, and you’ll be limited to loans carrying the highest interest rates or often no loans at all. Sound outdated? It is.
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A credit score is a number that rates a consumer’s creditworthiness. The higher the score, the better a borrower looks to ...