Reply
Frequent Contributor
sghosh5
Posts: 474
Registered: ‎02-28-2013
0

FICO Score - what is good range

My scores are all saying 'Not Good'. What is the good range of score. You can see my current scores in my signature


Starting Score: EQ: 499
Current Score: EX: 680, EQ: 631, TU: 672
CHASE Freedom: 1K, CHASE Sapphire: 5K, Barclay Arrival+: 5K, CapOne: 3K,CapOne: $3K, AMEX BCE: 3.9K, AMEX BCE: 1K, AMEX Green, AMEX PRG, Discover: 5.7K, DISCOVER IT: 2K, CITI Diamond:2.8K, Southwest Premier: 2K, Express:1.1K, Paypal: 3.6K, Amazon: 2.5K, Macys: 7.6K, Walmart: 1.5K, BestBuy: 1.5K, Lowes: 1.5K
Community Leader
Valued Contributor
DaveSignal
Posts: 2,111
Registered: ‎07-29-2011
0

Re: FICO Score - what is good range

A decent score is high 600s.  700+ is pretty good for most creditors.  720+ is very good.

 

I think your score indicator might change at 655, but that is not really a good score.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Frequent Contributor
sghosh5
Posts: 474
Registered: ‎02-28-2013
0

Re: FICO Score - what is good range

Thanks. Yes score simulator is saying once i pay off 2500 of my 2700 balance on cards both Equifax and TU may go upto 680. And 6 months of on time payment may increase them upto 710 max. Right now my scores are being hurt by lates and paid off collections. Lates mostly as there had been a 120 day late on my auto loan which was back in Nov 2011. how long this 120 day late will hurt my score? 2 years or 7 years?


Starting Score: EQ: 499
Current Score: EX: 680, EQ: 631, TU: 672
CHASE Freedom: 1K, CHASE Sapphire: 5K, Barclay Arrival+: 5K, CapOne: 3K,CapOne: $3K, AMEX BCE: 3.9K, AMEX BCE: 1K, AMEX Green, AMEX PRG, Discover: 5.7K, DISCOVER IT: 2K, CITI Diamond:2.8K, Southwest Premier: 2K, Express:1.1K, Paypal: 3.6K, Amazon: 2.5K, Macys: 7.6K, Walmart: 1.5K, BestBuy: 1.5K, Lowes: 1.5K
Community Leader
Valued Contributor
DaveSignal
Posts: 2,111
Registered: ‎07-29-2011
0

Re: FICO Score - what is good range


sghosh5 wrote:

Thanks. Yes score simulator is saying once i pay off 2500 of my 2700 balance on cards both Equifax and TU may go upto 680. And 6 months of on time payment may increase them upto 710 max. Right now my scores are being hurt by lates and paid off collections. Lates mostly as there had been a 120 day late on my auto loan which was back in Nov 2011. how long this 120 day late will hurt my score? 2 years or 7 years?


I always use the low number on the score estimator, but lowering your utilization is the easiest way to quickly improve your score.... its a large factor in the FICO algorithm.  680 would get you approvals at many lenders.  The 120-day late will hurt your score for 7 years.  Some people are successful at getting negative items removed by writing goodwill letters to their creditors.  You might want to try it.  Some collections will delete if you just ask them.  Others are much more difficult, but you have nothing to lose by trying.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}