credit score rangeAll of us citizens in the United States have to be evaluated by the Fair Isaac Corporation’s FICO score. This includes a credit score range from 300 to 850. 300 being the lowest and the worst score to possess, while 850 is the best and the most prime score one can hold.

Some say it is next to impossible for anyone to actually get an 850 score. However, many who work hard at it can actually get score to rank in the 800 range and can receive many financial benefits including low interest rate, excellent lending terms, and high amounts of money that they can borrow. More details about the meanings behind your scores can be found at this credit score range page.

The credit score range is comprised of 3 major credit bureaus which include Equifax, Experian and Trans Union. They all have various models of comparing your scores. For instance, Trans Union uses the FICO risk scoring model, Experian uses a version called the PLUS Score and Equifax uses the scoring system called the Fair Isaac Score Model. They are each slightly different from each other which explains why your scores by look different from each bureau.

Credit Score Range Interpretation

Even though all of us who have social security numbers and are legal residence in the United States have credit scores, very few of us actually know what a credit score range really means.

To explain it in simple terms, it means that in a strong economy with a great amount of money to lend then you can easily get loans for any kind of credit score, even if you have a low score in the 580 range. But if we are in a down economy and the banks have to be more conservative with their investments, they will not feel as comfortable with providing lending terms to one who is a sub-prime borrow with a low FICO score.

Instead, they will go after the Alt-A borrower with credit scores in the 700+ range since they are of much less risk. You see, a strong credit report is all relative to how responsible you are with your money and how well you service your debts. If you can show the 3 bureaus that you are responsible and service your debts on time for many years, you will be granted more credit worthiness and will have high scores.

Paying take the consistent actions on regular basis like paying down your minimum monthly payments on your cards, servicing all of your debts, monitoring your FICO scores regularly and addressing any errors that show up you will build strong profile. Please use the resources throughout this site to boost your scores and in time you will have a very solid credit score range.