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[15] [16] [17] According to FICO, the median FICO credit score in 2006 was 723 [18] and 721 in 2015. [19] The average FICO Score 8 in the US was 710 in 2020 [20] and 716 in April 2021. [21] The FICO bankcard score, FICO auto score, FICO personal finance score, and FICO installment loan score are between 250 and 900.
The company debuted its first general-purpose FICO score in 1989. [3] FICO scores are based on credit reports and "base" FICO scores range from 300 to 850, [3] while industry-specific scores range from 250 to 900. [11] Lenders use the scores to gauge a potential borrower's creditworthiness. [12]
The CIBIL credit score is a three digit number that represents a summary of individuals' credit history and credit rating. This score ranges from 300 to 900, with 900 being the best score. Individuals with no credit history will have a score of −1. If the credit history is less than six months, the score will be 0.
500 credit score. 700 credit score. Interest rate. 17.63 percent. 8.59 percent. Monthly Payment. $630. $514. Total interest paid. $12,789. $5,844
The VantageScore model breaks down its credit score ranges as follows: VantageScore credit scores. Very Poor: 300-499. Poor: 500-600. Fair: 601-660. Good: 661-780. Excellent: 781-850.
You have an excellent credit score if your credit score falls within the 800 to 850 range for FICO — which is most commonly used by lenders — and the 781 to 850 range for VantageScore.