Today we welcome a guest post from Emily Kalan on the importance of the Fico Credit Score Range. I personally know how important this score happens to be as it directly influences how much we can purchase, what we can purchase, and what rate we’re quoted if borrowing on credit. Enjoy!


Your credit score can impact most of your large financial decisions. Taking out loans, applying for mortgages, credit cards, and any type of credit can be difficult with the weight of a poor credit history on your shoulders.

Pretty much everybody is aware that your credit score consists of three numbers, but not everybody knows much beyond that. 

Over 90% of lenders will use your FICO credit score to influence their decision on either accepting a loan application or the cost of your interest rates. 

Whether you’re trying to improve your credit score, or just want to learn more about how it all works, then head on over and read this in-depth article on the FICO score range at Crediful.com

Why is my Credit Score Important?

You never know when a big financial commitment is going to come up. Every year, millions of Americans have to figure out how they’re going to afford house repairs, medical emergencies, weddings, new vehicles, and other expenses.

For many, the best option is to take out a loan, or get a credit card. However, a low credit score can negatively impact your chances of being accepted for credit of any kind. 

A poor credit history can also lead to extortionate interest rates when you’re applying for credit, which can hugely increase your financial stress. Years of high-interest rates are just going to worsen your financial situation – whereas appealing interest rates can make life easier. 

With a near-perfect credit score, both applying for credit and repaying credit will be a much easier task, and you’re certain to save money in the long run. 

Who Can View my Credit Score?

Not everybody knows who can see their credit score – but the following and more have access to your credit information. 

  • Banks 
  • Employers 
  • Creditors and potential creditors 
  • Collections
  • Service providers (cell phone, utilities)
  • Landlords 
  • Insurance companies 
  • Government agencies 

As well as these agencies, any other person, agency, or company will be able to view your credit reports with a court order. Don’t worry though, as these aren’t the easiest to obtain – so not just anybody can see your credit history. 

What is a FICO Score?

Your fico score consists of three digits, and it’s calculated by using information in your credit reports. 

It’s essentially a numerical reflection of your credit reports, measuring how much credit you’ve had, how much it’s being used, how long you’ve had credit for – and if it’s being paid back in time. 

FICO stands for Fair Isaac Corporation, which was established 30 years ago to create universal transparency between creditor and consumer. It enables the lender to see the creditworthiness in a fair way. This industry-standard system has made lending easier for all parties involved, and is based solely on finances.

What do the Scores Mean?

So, we’ve established that FICO credit scores are three digits long and can influence creditors decisions regarding applications and interest rates. 

There’s more to credit scores than that though – the higher the score, the better. The highest credit score you can have is 850, but there are more to the ranges. 

Pretty Much Perfect: 800 – 850

With a credit score between 800 and 850, you shouldn’t have any trouble applying for loans. Interest rates will generally be pretty generous depending on your creditor. This is the top tier of credit scores. 

Great Credit: 740 – 799

Although not top tier, a credit score in this area is still well above the U.S average. Acquiring a loan with a decent APR should be pretty easy with an interest rate of 740 or higher. 

Good Credit: 670 – 739

The average American’s credit score is 695, which falls somewhere in the middle of this range. Anything in this range is good – it means you don’t have anything majorly bad on your credit reports.

Decent Credit: 580 – 669

If your credit score falls between 580 and 669, then you’ve probably had a few late payments or negative items on your credit report. You should still be able to acquire credit; although the interest rates offered may be higher than you’d prefer. 

Not the Best: 300 – 579

Anything below 579 will have a negative impact on your future finances. It means you’ve got a fair amount of negative items on your credit reports – and it may be worth liaising with a credit repair agency. 

Potential lenders are generally deterred by a credit score in this range, as it suggests you’re a ‘risky borrower’. If you do manage to secure a loan, the interest rates will most likely be frustratingly high. 


“Emily Kalan is an experienced blogger that writes about all things finance, offering impartial, unbiased, advice, for the financial savvy amongst us”


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