The base FICO® Scores range from 300 to 850, and FICO defines the “good” range as 670 to 739. FICO®’s industry-specific credit scores have a different range—250 to 900. However, the middle categories have the same groupings and a “good” industry-specific FICO® Score is still 670 to 739.

What is the difference between credit score and credit rating?

Credit ratings are expressed as letter grades and used for businesses and governments. Credit scores are numbers used for individuals and some small businesses. An individual’s credit score is based on information from the three major credit reporting agencies, and scores range from 300 to 850.

What is the lowest good credit score?

For FICO, the lowest credit score range is 300 to 579; the lowest credit score range for VantageScore is 300 to 499.

What are the different types of credit scores?

A credit score is a three-digit number that summarizes your credit risk, based on your credit data. The most common credit score is the FICO score, which is calculated using five main categories of credit data from your credit reports. Here they are, along with what percent of the score they account for. Payment History (35%).

Which is a good credit score to have?

Credit score is a 3-digit number ranging between 300 to 900, where a score closer to 900 is generally considered to be a good score.

What does it mean to have a moderate credit rating?

Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk. Instruments with this rating are considered to have moderate risk of default regarding timely servicing of financial obligations.

What makes an instrument have a high credit rating?

Instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.