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FICO Credit Score Ranges . Excellent/Exceptional. 800-850. Very good. 740-799. Good. 670-739. Fair. 580-669. Very poor. 300-579
As of 2023, the average U.S. credit score was 715, says Experian, one of the three credit bureaus. That score is considered good, but not great. With a credit score of 715, you might get a car ...
If you charge no more than $300 per month to your credit card and pay it off in full each month, then your credit utilization ratio will be at or below 30 percent.
Event. Average credit score recovery time. Bankruptcy. 6+ years. Home foreclosure. 3 years. Missed/defaulted payment. 18 months. Late mortgage payment (30 to 90 days)
Credit scores usually range from 300 to 850 showing the customer's creditworthiness. A customer with a high credit score shows that they are creditworthy and banks will have no problem giving them a loan. If a customer has a low credit score then banks would be hesitant to give out a loan and if they do it might be with a higher interest rate.
Money.ca shares tips and steps to increasing your credit limit while also maintaining a good credit score in Canada.