Credit Score Range

So you know your credit score, now what? Brag to you friends? Compare it with your co-workers?

Before you go announcing it to the world, get a better understanding of what it actually means. Remember, to effectively evaluate your credit score you’ll need a range as well.

Just as you would if you were taking a test in school, without a range, a score is meaningless.

Like all other scoring models, credit scores have a range. The “credit score range” for the standard consumer Fico score is 300 to 850, though other credit scores, such as the VantageScore, range from 501 to as high as 990.

Additionally, some versions of the Fico score, such as those used for auto loans/leases, range from as low as 250 to as high as 900. And the Equifax Credit Score uses a numerical range of 280 to 850.

For simplicity’s sake, here are the most common credit score ranges:

Fico score range: 300 – 850
VantageScore range: 501 – 990

Note that the credit scores you order for yourself should have the ranges highlighted above.

And though credit scoring is a bit of a secret, much like other complex algorithms out there, armed with this knowledge, we should have enough information to make sense of where your credit score stands.

Check out the illustration I created of the “Fico score range” above, which is based on a median Fico score of around 710. This should give you a quick idea as to where you fit in, assuming you already know your credit score(s).

We also have an image of the Fico score range distribution below, which illustrates where most consumers stand credit score wise.  Notice that most consumers have credit scores within the 650-800 range.

Let’s start at the top of the credit score range and work our way down. Note that we’re using the Fico score range, which is much more relied upon than the VantageScore at the moment.

Credit Score Range

800-850+ Credit Score

A credit score of 800-900 is basically flawless credit. Though I’ve never seen a 900 credit score (readers have told me they have 900+ scores), scores of 800-850 are fairly common. An important thing to note here is that some consumers may have 800 credit scores the minute their credit profile is established, but without supporting credit history, the score will mean very little to banks and lenders.

On the other hand, a credit score of 800-900 accompanied with years of solid history indicates that the borrower will be granted the lowest rate on everything from credit cards to auto insurance and mortgages. Scores in this bracket represent about 13% of the population.

720-799 Credit Score

A credit score of 720-799 is considered good to great credit, and will typically result in interest rates and approval rates that a credit score in the range of 800-850+ would yield. The only difference might be a few more pricing incentives at the 800-850+ range, and a more thorough credit check. But all in all, credit scores in this bucket are considered excellent and you really don’t need to worry if you scores fall in this category. In fact, roughly 27% of the population has a credit score of 750-799 alone.

680-719 Credit Score

A score in this bracket is considered good credit. Although it’s not perfect, you should still be able to qualify for most loans and auto or rental leases, although interest rates may be a little higher than those offered to borrowers with excellent credit. There will be situations where a credit score in this range will prevent you from getting certain types of financing, such as an A-paper mortgage loan or the lowest auto insurance premium, but it’s certainly not bad credit.

620-679 Credit Score

Credit scores from 620-679 are still considered “good” or “ok” by many creditors, though you may see further restrictions and fewer approvals when attempting to get a auto loan/lease, credit card, or a mortgage. Scores at this level are fairly common, and no reason for alarm. But it would be wise to evaluate your credit score and work to improve it. In this range, it is quite probable that you aren’t securing the lowest interest rates, and subsequently losing money as a result.

580-619 Credit Score

This is where “ok” and “good” turn to “bad”. Credit scores in this range are clearly below average, and you will have a difficult time securing a loan, or applying for a credit card. If you are able to secure financing, you’ll find higher interest rates for lower credit scores. If your credit score falls in this range, you definitely need to take a hard look at your credit report and take measures to raise your credit score.

Many consumers with credit scores in this bracket are considered “subprime” and may have to work with bad credit banks and lenders to secure financing. You’re basically throwing money away at this point.

500-579 Credit Score

Credit scores in this range are just flat out ugly. If you’ve got a credit score in this range, there’s a good chance you have a major derogatory mark on your credit report such as a collection, charge-off, mortgage late, a foreclosure, or a bankruptcy. There is no question that your credit score is in need of serious credit repair.

At this level, you must evaluate your credit and act immediately to turn things around. You’re clearly paying higher interest rates and making credit mistakes that will impact your life for years to come.

Below 500 Credit Score

Credit scores below 500 are the worst of the worst. To fall into this range, your credit report will definitely contain major derogatory marks, with very little positive data to speak of. If your credit score is below this level, you may want to consider speaking with a professional about your situation.

There’s a good chance you’ve got serious financial problems if your credit score is in this range. Start picking apart your credit report line-by-line and educate yourself about credit scoring immediately to begin to alleviate your problems. It’s going to take time to improve your credit score, but not all hope is lost.

So now you should have a good idea as to where you stand credit score-wise and what you need to do to improve things, repair things, see a professional, or simply maintain your healthy financial lifestyle.

If you don’t know where you stand, you can get all 3 credit scores instantly for free for 7 days via GoFreeCredit.  This includes scores from Equifax, Experian, and TransUnion.

*You must cancel during the trial period to avoid any charges.