What Is a Good FICO Score?

Less than 40% of Americans have FICO scores of more than 750 -- which is considered to be a very good score.

A FICO score is a credit score produced by the company Fair Isaac Corporation. Credit scores are numerical calculations based on information from your credit report that supposedly predict how likely it is you’ll default on loans or payments. The higher your FICO score, the more likely people and businesses will lend money or extend credit to you. It also might mean you’ll get better interest rates and payment terms.

What Is a Good FICO Score?

FICO scores range from 300 to 850. FICO estimates that slightly less than 40% of Americans have FICO scores of over 750, which most lenders would consider to be very good.

According to Equifax, the portion of the general population that fall within various credit score ranges is as follows (although Equifax no longer calls these “FICO score ranges,” these numbers are the same as those it previously listed as FICO score ranges):

  • 20% are above 780
  • 20% are in the range of 745–780
  • 20% are in the range of 690–745
  • 20% are in the range of 620–690, and
  • 20% are below 619.

How Your FICO Score Affects the Cost of Credit

FICO offers a free calculator you can use to see how different credit scores may affect how much it costs you to get credit. You can find FICO’s Loan Savings Calculator on its website at www.myfico.com

This is an excerpt from Credit Repair, by Margaret Reiter and Robin Leonard (Nolo).



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