Credit Rating Chart On FICO Reports

[John060675]

Could someone please tell me what scores are for what in the credit rating chart on the FICO credit report.  The chart I am talking about is on the front of your CR that you pull on FICO.  They have the following sections:  Bad, Not Good, Good, Very Good, and Great. 

Thank you.

[cadavis0609]

Are you referring to the half circle chart? Its just showing you where you fall when compared on the 350-850 scale.

[John060675]

Yes, that is the one.  However, what are the score breakdowns for each section?

[cadavis0609]

I think its

350-500-bad

501-599 Not Good

600-650- Good

651-719- Very Good

720-850- Great.

[Anonymous]

Nope...I've got a 749 on TU and a 739 on EQ and both are rated as Very Good...I'm thinking I have to get to 760 to be GREAT!!

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cadavis0609 wrote:

I think its

350-500-bad

501-599 Not Good

600-650- Good

651-719- Very Good

720-850- Great.

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[Anonymous]

can't remember where I saw this, but it said 720 was actually considered the mean/average- so that 720 was considered above average.

This doesn't jive w/ their scale- but I know  I saw it on myfico. I will try to find it.

[Anonymous]

Scratch that. Said 700 was the average.

[Anonymous]

Credit bureau scores are often called “FICO scores” because most credit bureau scores used in the U.S. are produced from software developed by Fair Isaac and Company. FICO scores are provided to lenders by the major credit reporting agencies.

FICO scores provide the best guide to future risk based solely on credit report data. The higher the score, the lower the risk.

So, according to this chart- the average is 700-799. Feels inflated to me, but I guess because they own the model- they can report as such.

[Anonymous]

sorry but that chart looks backwards...from what I know anything between 760 and 850 are tops

Also I believe that most people are in the below 600 mark and only about 1% are in the 700 score.

[Anonymous]

I don't get "good" and "not good." Weak. How about actually using the full descriptive power of the English language?

300-450: Atrocious With this score, you can avoid wasting your time by not applying for anything. Lepers will cross the street to avoid you.

451-525: Bad See "Atrocious," above, except you are eligible to rent to own a $300 ottoman in ten easy payments of $69.99.

526-575: Mediocre This is the range where you begin to recover from credit leprosy. You can do your part to support the subprime lending industry by getting a MegaFee Pig Iron Hassle-Intense Card, with a $129 activation fee, a $79 setup fee, a $9 monthly participation fee, and a $5 Statement Reading Fee.

576-625: Marginal Congratulations! Now that you're here, welcome to the mailing lists of dozens of credit card companies. If you live in the Snowbelt, you just might be able to heat your home in the winter using only credit-card offers as fuel.

626-675: Passable To heck with the credit breakdowns on the FICO site--this is where most of the American population is. This section should be renamed "Good Enough to Get By." You're not going to get great deals on anything, but you probably won't get turned down for your average credit card or subprime mortgage.

676-725: Decent You're beginning to pull ahead of the pack now. Don't let it go to your head...unless you're the lead dog, the view never changes.

726-760: Good You can stop here. Here is Good. Here is enough to get you almost any mortgage or credit card. Why keep going? Relax, take a break. Actually charge something on your cards for goodness' sake. Be daring. Charge a card up to 11% utilization and see what happens.

761-790: Excellent Aren't you just the Energizer Bunny of FICO improvement...

791-820: Outstanding Didn't anyone bother to tell you there's not much point in boosting FICO beyond 775 or so?

821-850: Elite Whaddaya want, a friggin' medal?

Message Edited by TheNewWorldMan on 09-02-2007 10:28 PM