October 7, 2007

Personal Credit Score: How Good is My Credit Score?

Q My credit score is 685. Is that good?

A Yes, your score falls with the "good" range of a FICO credit score. And you will probably be approved for a loan. But you will probably have to pay a higher interest rate than someone whose credit score falls within the FICO "excellent range". Check the credit score distribution chart below to see what percentage your score falls in compared to the rest of the country.

Credit Score Distribution

<-499 2%

500-549 5%

550-598 8%

600 - 469 12%

650-699 15%

700-749 18%

750-799 27%

800+ 13%

For more information on the FICO credit score ranges, see my October 20, 2006 post, FICO Score Range. And see my January 4 2007 post, FICO Credit Score Range, for more information on loan interest rates.

Remember, if you’re not working the system, it’s working you.

PapaJoe