what fico score is excellent
The FICO credit score is the most widely used score in lending decisions and ranges from 300 to 850. A FICO score of 750 to 850 is considered excellent, and those with a score in that range have access to the lowest rates and best loan terms, according to myFICO.com, the consumer division of FICO.sually the second most important factor in your credit score is how much debt you have compared with the amount of available credit you have, Detweiler says. Those with a credit score of 800 use only 7% of their available credit, on average, according to myFiCO.com.
If your FICO credit score is 750 or above, you are considered to be an excellent credit risk and should not have a problem obtaining credit and will likely be offered financing at the lowest available rate.he most commonly used model is called FICO Â® (named after its creator, the Fair Isaac Company). Your FICO Â® credit score is used to evaluate your creditworthiness by giving you a certain amount of points based on the information contained in your credit report and your debt-to-income ratio.