2006-10-11 08:57:38 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
There are three different rating agencies (Equifax, TransUnion, and Experian). And each has it's own score. The most common score is the FICO score and I believe 850 is perfect.
2006-10-11 09:02:20 · answer #1 · answered by CPAKeith 3 · 0⤊ 0⤋
Every credit bureau has their own credit score. FICO (Fair Issac) is probably most used as to mortgage scoring. Beacon is another name and you will get a slightly different score for credit cards. Essentially the range is 350-850, with anything 800 and above being considered "perfect", 700+ range being great, 650 range being pretty good and you won't be able to usually get a mortgage if you are below 500. They weigh a lot of factors into your score, including timeliness of payments, types of debt you have (installment, credit card, mortgage, etc.), your credit limits, the amounts of your balances v. your limits, etc. to arrive at your score. However, you cannot get a credit score if you have NO credit. In other words you could be a perfect cash customer and always pay your bills on time and have NO credit score.
2006-10-11 16:04:48 · answer #2 · answered by MJ 4 · 0⤊ 0⤋
the perfect is 1000 but the computer doesn't go there so you would get a 999 as a perfect. This would be on all three sites that do credit ratings and scoring. But you would have to be a millionaire to get it. good luck
2006-10-15 15:30:30 · answer #3 · answered by sarell 6 · 0⤊ 0⤋
The most common scoring system is FICO. There are actually 3 different formulas used by FICO, one for each credit bureau.
Score Ranges are:
Equifax:300-850
Experian:330-830
Transunion:150-934
2006-10-11 20:26:25 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
850
2006-10-11 20:04:42 · answer #5 · answered by colorado 3 · 0⤊ 0⤋
850
2006-10-11 16:02:29 · answer #6 · answered by amyc121173 2 · 0⤊ 0⤋
850
2006-10-11 16:01:41 · answer #7 · answered by low_on_ram 6 · 0⤊ 0⤋
850 but it's all just a big conspiracy of big brother who is watching everything that we do. How and when we spend our money, next thing you know there gonna start tapping our phone lines with no reason at all. WAIT they already are!!!
2006-10-11 17:01:56 · answer #8 · answered by NRG 2 · 0⤊ 0⤋