What Is an Acceptable FICO Score?
A FICO credit score that is acceptable to one lender might not be acceptable to another. One lender might extend credit to anyone with a score above 680, while another lender might use 700 as the cutoff score.
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Considerations
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Different credit situations often have different credit score requirements. For example, a mortgage-type loan might require a different FICO score than an auto loan.
Acceptable Scores
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FICO credit scores range from 300 to 850; the higher the score, the better. According to MyFICO.com, most lenders consider a score above 750 to be excellent and around 700 good. A score close to 650 is considered a fair score.
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Unacceptable Scores
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A FICO score below 600 is considered a poor score. Anyone with a score below 600 is considered a high credit risk and is likely to be denied credit. If credit is granted, it will probably be at a higher interest rate.
Features
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Most people have FICO scores in the 600s and 700s.
Fun Fact
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MyFICO.com reports that the average FICO score for people in the United States is 723.
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