What Is an Excellent Credit Score?  August 6, 2009 No Comments »
What Is an Excellent Credit Score?  For those obsessed with
their credit score, I’ll attempt to answer the age old question,
“What is an excellent credit score?”  For the record, we’re
talking about FICO scores, which are far and away the most
common and widely used by creditors.  The FICO score ranges from
300-850, with higher scores representing a lower risk of
default.  In other words, higher scores are what you want to
shoot for if you want to get approved for everything you apply
for and receive the best terms.  Before I begin, let’s remember
that the word excellent is highly subjective, and not any
specific measure of creditworthiness.  In fact, all of credit
scoring is subjective; creditors don’t just look at the three-
digit number and say okay, you’re good. Or you’re bad…  However,
there are certain thresholds that are objective, meaning lenders
will reward/partially approve you for being at or over a certain
number, and vice versa.  Exc