FICO Score Chart

Where do you stand?.

With stories about FICO scores now part of almost every housing or mortgage related article in the country’s newspapers, consumers are at last learning about credit scores and why having a good credit score is extremely important in a credit-driven consumer economy.

The basic questions still get asked: What is a good FICO score? Is 700 a good credit score? Is there a FICO credit score scale?

The color coded credit score chart is the scale that has been suggested by Fair Isaac Corporation, the company that invented the FICO score model. We say suggested because there really is no definitive, all-observant credit score scale. Different lenders have different standards that change over time based on general consumer trends, economic conditions, and dozens of other unpublicized factors that are peculiar to that lender.

The median FICO score means that 50% of the people are above 723 and 50% of the people are below 723. The average FICO score of 687 is calculated by adding up everybody’s FICO score and dividing by the number of people. The average is below the median because FICO scores range from 300-850, so the low scores used in the averaging can be 423 points less than the median but the high scores can be only about 127 points above it.

Your Credit Score Calculation Determines Your Rating

The next FICO Score chart is from information gathered by TransUnion. In this illustration, the delinquency rate is the percentage of borrowers who reach 90 days past due or worse (such as bankruptcy or account charge-off) on any credit account over a two-year period.

The graph illustrates the predictive power of the FICO scores, which is why lenders rely on them for credit decisions.

Because FICO scores are a statistical computation you now know that by changing the value of the inputs of the formula you can change the output to make yourself a statistically reliable borrower.

There are only two ways to change the value of the inputs of your FICO score – by deleting negative items from your credit report – and by changing the balances of the most important accounts on your credit report first.

The hardest part is knowing which accounts on your credit report are the most important, and how much to change them to get the greatest benefit to your FICO score. That is why you need the Suze Orman FICO Kit. It is the only FICO scoring software that can provide you with that kind of reliable information.

How Can I Raise My Credit Score?

Suze Orman’s FICO Kit Platinum is a fabulous tool at $49.95. You would pay almost that much just to get your credit reports and FICO credit scores. The Car Coaching tool alone is worth twice as much, or many times more, than the cost of the software. A personal financial coach would charge you $00s for the planning you get with the Action Planner – and could probably not do as good a job. Order now from this link – Suze Orman’s FICO® Kit Platinum

*Credit scores are a snapshot in time. The FICO credit scores you get with this program are calculated on the day you activate the program and will be accurate only for that date. FICO credit scores do not update continuously. You can use the FICO Simulator to see how changes in your financial situation would affect your credit score.

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