Your Credit Score: 3 Surprising Facts You Should Know
1. Scoring models are geared to produce different results
2. Credit score ranges are not universal
Different scoring models use different ranges, so whether your number is considered good depends on which formula is used.
VantageScores range from 501 to 990, and the breakdown of excellent to bad credit is similar to the scale used to calculate grades in school -- 900 to 990 is excellent; 800 to 899 is good; 700 to 799 is fair; 600 to 699 is poor; and under 600 is very poor.
FICO credit scores range from 300 to 850, with the top 20 percent of consumers above 780.
Knowing the scoring range is critical for interpreting your number. A 782 FICO score is excellent -- usually enough to qualify you for the best
credit card rates -- but a 782 VantageScore is about average.
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