A good credit score?

Avatar for 2locachicas
iVillage Member
Registered: 05-14-2003
A good credit score?
2
Thu, 03-31-2005 - 8:54am

What is a good credit score with Equifax?? I know my score but I am not sure if it is good.

Thanks!

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Thu, 03-31-2005 - 10:00am

Here is a chart that breaks down the national averages for scores (source: myfico.com):


National distribution of FICO scores


Also, you may want to run some numbers through their loan calculator.

All my best,
Danni

iVillage Member
Registered: 02-19-2004
Thu, 03-31-2005 - 10:00am

Don't take my word as official, there are websites and someone on the Debt Q&A board might give you a more official answer, and it does depend on the lender you are wishing to borrow from because they could have their own opinion.

But in general, over 720 is excellent, over 700 is really really good, over 650 is good, below 650 is okay, but could use some work. Some lenders say they give the best rates to those with scores over 720, some say over 700 gets the best rates. Some will give decent rates to those over 680, others say they will give pretty good rates as low as 650. Below 650 you could still borrow, but might get a lot higher interest rates.

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