cancel
Showing results for 
Search instead for 
Did you mean: 

Fico Website Is Confusing Me

Established Contributor

Fico Website Is Confusing Me

I was under the impression that a score of 760 or above is considered excellent. However according to what I see based on scoring , excellent is at 720? 12 Recommended Cards for a FICO Score of 720 - 850† Will someone explain?
Message 1 of 5
4 REPLIES
Valued Contributor

Re: Fico Website Is Confusing Me

I'm not sure how much of a standard there is here, and lenders apply their own criteria to determine what is "excellent".

 

For example, some lenders set APRs based on score, and the best rates typically start at 740+.

 

In terms of future delinquency rates based on score, one table I've seen looks like this:

 

   600-649 --> 31%

 

   650-699 --> 15%

 

   700-749 --> 5%

 

   750-799 --> 2%

 

   800-850 --> 1%

 

Message 2 of 5
Contributor

Re: Fico Website Is Confusing Me

The median FICO is ~720 if I remember correctly.  So it's not just about your score, but how your score compares to everyone elses.

Last App 12/8/13 - BoA Better Balance Rewards

Wallet: Discover IT $4500, Chase Freedom $3k, Citi Forward $3000, AmEx BCE $2k

Sock Drawer: Citi Diamond Preferred $10500, BoA BBR $7500, Citi Platinum Select $2200, AmEx Clear $2k, J.Crew $1850, US Bank Platinum $500

12/2013: TU = 763, EX = 791, EQ = ??
Message 3 of 5
Valued Contributor

Re: Fico Website Is Confusing Me


w003ptr wrote:

The median FICO is ~720 if I remember correctly.  So it's not just about your score, but how your score compares to everyone elses.


I have a HUGE problem with trying to believe that the median FICO score in our country is 720.

 

Maybe it is, just have a hard time believing it.

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 4 of 5
Highlighted
Valued Contributor

Re: Fico Website Is Confusing Me

Message 5 of 5