The FICO credit score range varies from 300 to 850 and can affect the availability of an individual’s credit, the amount of interest payable by a person and things like cell phone and utility bills. For a person who knows about a good credit range, this is not an issue. Knowing what is good credit score can have a great influence on your coming future. Lenders will use this score to know if you are reliable and trustworthy. FICO score is used in the majority of credit decisions.
Having a basic knowledge on the good credit score will provide you a sight on determining what is used by the lenders to link value ranges with some other metrics and features which will help them in making an informed decision on lending easily. With a great credit range above 800, the applicant has the best chance of getting loans at best possible rate of interest. This is the sign of wonderful FICO score which above the average credit. Every person who comes under this range will have easy approval procedure while searching for a loan. Only one percent of customers who come within this range are more likely to become faulty at any time. (more…)