FICO Credit Score Range

Your FICO score plays a large part of your financial life. It can help you get a good job or it can keep you from getting that same job if it is too low. Your FICO can have you paying 29% interest rate on your credit cards or if you have a good score you could be paying 8% APR. It all depends on where your score falls on the FICO credit score range.

On this hub you can find out more about FICO scores and where to get your free credit scores so you can see how you compare against the national average.

Click Here To Check Your 3 Credit Scores Free

Your FICO can go from 300 to 850. The higher the score the better. If you have a 760-850 credit score, you have nothing to worry about. You are doing well. You get the best interest rates on your credit cards. You qualify for the lowest mortgage rates.

You are not getting squeezed by your lenders cutting back on your credit limits. You can rest easy at night not worrying about your finances.

If you have 725-759 you have a very good credit score. It used to be that 720 used to be all you needed to get the best interest rates. Now you need closer to 750 to get the best rates.

At the next level you start getting to the average credit scores. 660-724 are still considered good credit scores. This is where the average American credit score lies.

You are getting average interest rates. Lenders are not rushing out to offer you as much money as you want. If anything they are cutting back on their credit card offers.

Anything below 659 to 300 and you are not as desirable anymore to the lending companies. They will be happy to charge you 20 to 30% interest, sometimes even more. But you will be considered a subprime borrower. And it was subprime lending that caused the global financial crisis.

Next you need to work on increasing your credit score if you do not have the highest credit score possible. 80% of your score is based on your payment history, how much debt you have and the age of your accounts. If you work on these 3 areas you can vastly increase your credit score. Then you can start getting the best interest rates possible and saving money on your loans and insurance.

If you have too much debt you may need to forgo worrying about your score and worry more about getting out of debt.