Fico Website Is Confusing Me

[plasticguy]

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?

[user5387]

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%

[w003ptr]

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.

[Repo-ed]

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@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.

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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.

[user5387]

The median score is 711, according to this posting:

http://bankinganalyticsblog.fico.com/2012/04/more-consumers-nearing-perfect-fico-scores-but-are-scor...