what is considered a good credit score???

Question

what is excellent? what is bad???

Answer 1

620 is the conforming line in mortgages for a Good rate'=.
450-619 is the sub-prime market and they charge you higher% rates
above 620 you can get certain concessions starting at 660
then more at 700-720
In the sub-prime market you will not get 100% financing until your score is at 580 or greater. below 580 you get only partial financing
from 450 to 520 about 65 -70%
521-550 About 85%
551-575 about 90-95%
actually any thing below 500 will disqualify you from most lenders. very few will do sub 500 scores at all.
Hope this helps
I am a mortgage banker and I finance the homes realtors think they know every thing!

Answer 2

A FICO score of 720 is as good as you'll probably ever need. With a score of 680 you can do most anything that your income and assetts will support. 620 is pretty good, but could use some improvement. 580 is good enough to qualify for a car loan or small mortgage. Anything below 540, you should concentrate on improving your financial habits, rather than trying to make major purchases.

Answer 3

Credit Scores range from 350-850, Good credit scores are from 640 and above. You will be able to go to a bank and get a Loan at most banks. Above 700 scores are where you want to be, Bad credit is below 500 and many lender will not finance you if your below that. myfico.com is a great site to check out.Lenders get a tri-merge (experian,equifax,transunion) they take the middle score and thats how they grade you.

Answer 4

Good 620, excellent 780 or higher and bad or poor would be any of the 500 or lower. The higher the better.

Answer 5

680+ is excellent credit. Once you start going below 600 it gets REALLY bad.... You really want like 640 and above.

Answer 6

I heard anything above 650 is bad and anything below 600 is pretty good.

Answer 7

good - 1000
bad - 0

mine - 700

me better than average!