CREDIT SCORE Range (USA: 2 charts)
—Credit Score is 3-digit numbers based on your credit reports.
—In the USA, the main credit scoring models are FICO Credit Score and VantageScore.
—FICO Score is used by (90%) of the market & VantageScore is provided by 3 Credit Bureaus.
—These companies have a similar credit score range but evaluated differently.
—Each agency have a different weight factors and groups to give your credit score,
so you can receive different scores from each.
—You will pay the fees minimum for your score, but it’s worth it.
1-FICO Score (Fair Isaac Corporation)
2-VantageScore (Provided by 3 Credit Bureaus)
3-How much money you save to increase FICO Score!
4-Order your Free FICO Credit Score by Experian!
5-The cost of fair or poor credit score?
6-When to check your credit score?
1-FICO Score (Fair Isaac Corporation)
(Scoring model 1989)
*800-850 = Exceptional
*740-799 = Very Good
*670-739 = Good
*580–669 = Fair
*300-579 = Very poor
FICO Score weight factors groups in 5 categories.
Payment history : …………………..35%
Amounts owed : …………………..30%
Length of credit history: ………15%
New credit :…………………………........10%
Credit mix:……………………………........10%
2-VantageScore (Provided by 3 Credit Bureaus)
(Scoring model 2017 : score range 4.0)
*750-850 = Excellent
*700-749 = Good
*650-699 = Fair
*550-649 = Poor
*300-549 = Very poor
VantageScore weight factors groups in 6 categories.
Payment history:………………………..40%
Age and type of credit :……………21%
Credit utilization:………………………..20%
Credit balances:……………………….....11%
Recent credit :…………………………......5%
Available credit :……………………….....3%
A good FICO Score start to 670 until 850
A good VantageScore start to 700 until 850
But to know a good credit score don’t give you the best interest rates and terms !
3-How much money you save to increase FICO Score!
(Here is FICO Score Range : 90% top lenders use !)
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800-850 = Exceptional
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740-799 = Very Good
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670-739 = Good…………..
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580–669 = Fair
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300-579 = Very poor
Why rise credit to Expect saving more ?
4-Order your Free FICO Credit Score by Experian !
Your credit report and FICO Score—All free with Experian bureau.
But you must to give some informations.
5-The cost of fair or poor credit score?
~You can pay Higher Interest for :
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Fair, poor credit car loans= You can pay an interest range (5%,10% or 15 %)
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Fair, poor credit mortgage= You can pay more than (.5% to 1%) than your friend!
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Fair, poor credit for personal loans= + or - 25 %
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Fair or poor credit for credit cards= (20%, 25%, or 30 %)
~Creditors raise the price of your bills, charge your fees or deposit.
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Cell phone providers
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Insurers companies
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Utility companies
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Landlord (Leasing)
~Or Worst :
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You can miss the HOUSE you desire !
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It could influence your RELATIONSHIP !
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Employers can check your Credit and…!
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It could keep you from getting HIRED !
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It could cost you a PROMOTION !
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You can deny for a LOANS !
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You can deny for a CREDIT CARDS !
6-When to check your credit score ?
***Monitor your credit score is the best.
***When you make an application for all things you sign an authorization,
consent, or a permission to see your credit report !!!!!
***Do you know why you must check your credit reports and scores when ?
—To get a job, for a promotion !
—To get car or home insurance !
—To get an apartment !
—To join military, to become police officer, to work at the bank !
—To get a gym membership !
—To lease or buy a car !
—To get internet, to get computer, to get cell phone !
—To get student loans !
—To rent or buy a house or a condo !
SHARE with your parents and Friends!
