Credit Score Range

Credit reporting agencies use complex formulas involving numerous financial documents to come up with the 3-digit numerical score banks and lenders use to determine a person’s creditworthiness. This is what pushes the reporting agencies to provide information that is as reliable as possible; working hard to come up with formulas and computations that improve over [...]

A credit score is a number assigned to an individual that shows his or her “creditworthiness.” Lenders use this score to predict whether an individual will regularly make payments on time or default on loan payments. This 3-digit score is determined by your payment history, outstanding debt, length of credit history, new credit, credit inquiries [...]

Experian has recently released a study showing the top 10 cities with the highest credit scores across America, with 8 out of 10 found in the Midwest1. Wasau, WI took the top spot with an average credit score of 789. The city of 39,000 was finally considered big enough to be included in Experian’s study. [...]

Stumped on how to raise your credit score? Here are a few other less-well known techniques courtesy of Christina Couch’s column on CardRatings.com: Goodwill is one of the perks of being a “good” credit customer. Being on friendly terms with card issuers combined with a long history of reliable payments could be enough for credit [...]

The FICO score of the average American is anywhere between 600 and 800 – with the median set at 723. Those lucky few with a score of 850 (the ‘perfect’ FICO score) fight to keep their finances in check. But what about those in the other end of the spectrum? What does a person need [...]

CoreLogic, a real estate and mortgage data aggregator, has announced an agreement to work with Fair Isaac Corp. (FICO) in order to develop “new” and “improved” credit risk scores designed especially for the U.S. mortgage industry. The data collected by CoreLogic can be used by FICO to come up with credit score formulas that will [...]

Whether you’re applying for credit such as car loans, mortgages, or credit cards, it will always be a good practice to first check where you stand on the credit score scale. Because where you are on the scale can have a huge effect on the interest rates you’ll get. The average credit score nationwide is rated at 666. If your [...]