Where to Get Your Credit Score
There are different types of credit scores and all of them use different scales.
Quick Tip: Not All Credit Scores Are Created Equal
You know that you need a high credit score to be considered a low-risk candidate to creditors, insurers, employers, landlords, and other service providers. The FICO (Fair Isaac Corporation) is the most well-known credit score and it ranges from 300 to 850. These days, a FICO score over 700 is good and one that’s 760 or higher is excellent. However, there are other types of credit scores besides FICO. Each scoring model uses a slightly different formula, credit criteria, and score value.
VantageScore is a major competitor to FICO that uses a scale from 501 to 990 and also uses corresponding letter grades (you must score between 901 and 990 to earn an “A”). Other types of credit scores are Beacon, Pinnacle, Precision, and Empirica. You need to know which score you’re evaluating before you can understand how your credit stacks up. Since each type of score is different, whether you fall at the top, middle, or bottom, is much more important than the actual credit score.
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