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Frequently Asked Questions

What score is considered a good credit score?

A good credit score is usually defined as anything from 660 to 719, based on the standard 300 to 850 scale. A score of 720+ is thought to be excellent, while scores from 620 to 659 are fair.

How do you calculate a credit score?

The score is calculated by putting the information found in your credit report into a mathematical algorithm or formula that leads to a three-digit number ranging anywhere from 300 to 850. The lower the credit score, the higher your level of risk, and vice versa for a high credit score.

What exactly is a 'good' credit score?

Generally speaking, a good credit score is anything above 700 points. However, if you look across the Internet, you’ll see that everyone has their own opinion. In a way, this makes sense – it reflects the industry. Every single lender has their own criteria when determining an individual’s creditworthiness.

What do credit scores mean good credit?

Credit scores range from exceptional to poor, but how does that affect you? Credit Score Basics. Your credit score is a number that represents the risk a lender takes when you borrow money. ... Exceptional Credit Score: 800 to 850. ... Very Good Credit Score: 740 to 799. ... Good Credit Score: 670 to 739. ... Fair Credit Score: 580 to 669. ... Poor Credit Score: Under 580. ... No Credit. ... The Bottom Line. ...

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