A FICO ® Score of 660 places you within a population of consumers whose credit may be seen as Fair. Your 660 FICO ® Score is lower than the average U.S. credit score.. 18% of all consumers have FICO ® Scores in the Fair range (580-669). Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.
In general, the first two factors, payment history and amounts owed, make up 35% and 30% of the total score, respectively. The length of credit history accounts for 15% and the final two factors, new credit and types of credit used, account for 10% each.
A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. A credit score is primarily based on a credit report information typically sourced from credit bureaus.. Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to ...
It’s difficult to get exact answers to this important question. Every expert, credit bureau, and loan officer has a different opinion as to where the threshold between good and poor credit lies.
In a Nutshell Knowing where you fall on different credit score ranges can help you make smarter financial decisions tailored to your credit profile.
Credit History & Credit Score (FICO) Basics . We all create a credit history, everyday. OK, generally as we get older and have to pay for things ourselves, be it a cell phone, apartment, credit cards.
The average credit score needed to buy a car Borrowers who received financing for a new car in the third quarter had an average credit score of 714.
Check your free credit score (Equifax), get free monthly credit score monitoring and learn how to improve your credit score.
A 695 credit score (Fair Credit) is often viewed by lenders as an acceptable credit risk - meaning you will usually be approved for the credit or loan you are seeking.
Bottom Line. A 620-credit score may be an average score, but many lenders are still considering it on the poor side and with so many credit score ranges, you will find it best to do what you can to get your credit score as high as you can and improve your credit.