What is a good FICO score?

Understanding FICO Scores: What’s a Good Score and How Lenders Use Them

  • 90% of top lenders use FICO Scores to help them make billions of credit-related decisions every year. According to myFICO, FICO Scores have a 300-850 score range, and the higher the score, the lower the risk. But what is a good FICO score?
  • In response to a forum member, myFICO explains that the point which a lender would accept or deny a new application for credit is known as a score cutoff. Since each score cutoff varies by lender, it’s hard to determine a good FICO score outside the context of a particular lending decision.
  • There are many factors that lenders use in their strategy to determine actual interest rates. When a FICO Score is calculated from a credit report, the credit report agency will also provide up to five reasons, which are usually negative, that are most heavily influencing a particular score, myFICO says.
  • However, a FICO Score will change over time. The information in a credit report changes constantly and so will any new credit scores based on that report.


In the world of credit decisions, FICO Scores play a pivotal role, with 90% of top lenders relying on them. While there isn’t a universal “good” FICO score, it’s crucial to understand that lenders set score cutoffs individually. Your score, influenced by various factors, can impact your interest rates. Remember, your FICO Score is dynamic and evolves with your credit report. Stay informed, manage your credit wisely, and visit our blog for more insights on credit repair.

For more information about credit repair, visit our blog: www.scoreceo.com/blog.

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