Fico Score Ranges

The Fico score Ranges or Credit Score Ranges are a little fuzzy. But it is a score no higher than 900 and no lower than 300. Most likely the range is between 350-850.

The average US Fico score is said to be 678, but what does that mean and what does it do for you. What is a good FICO score? Basically here are the ranges.

If your score is 700 or higher (720 or higher in some places) you are likely to get a loan with a low interest rate provided you have some income coming in. This range is considered low risk to the banks.

680-699

This is still considered to be very good and you are likely to get a loan with a decent interest rate on it.

620-679

This is considered OK, you may not get denied and you may still be able to get a somewhat decent interest rate on your loan. In short you are in the middle of the FICO score ranges.

580-619

This is considered to be very bad credit. You are likely to still get a loan, but the loan will probably have a very high interest rate on it because you are considered to be high risk.

500-580

If you are here you will probably have a hard time getting a loan, renting a house, or anything. If you do you will most likely have to pay a high rate on it.

499 or below

Being below 500 is really a bad sign for credit. It is a sign that you do not pay off your financial obligations and this financial information will readily available to everyone who you may do business with, not just loans.

If here you are in need of some serious credit repair so start paying off your debts.

Credit Score Ranges on Risk

Credit score ranges can also be used when it comes to risk as well. If your score is above 700 you are considered to have a 3% chance of having a late payment of 90 days or more in the next 2 years. If your score is below 500 however you are considered to have an 87% chance of having a late payment of 90 days or more in the next 2 years.

So the lower your score it the higher the risk that you will not pay off any loans you are given.

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