Important Facts about your Credit & FICO score
Credit Score make up...
Payment history – 35 percent
Outstanding debt – 30 percent
Established credit history – 15
New credit – 10 percent
Types of credit– 10 percent
Payment history – 35 percent
Outstanding debt – 30 percent
Established credit history – 15
New credit – 10 percent
Types of credit– 10 percent
What is a Good Credit score
High 700s
Fair Isaac: "Those agencies [Fannie Mae and Freddie Mac],
have indicated to lenders that any consumer with a FICO score
above 620 is good while consumers below 620 should result in further inquiry from the lender, Watts said... Once you get into the upper echelon of FICO scores -- in the high 700s -- lenders don't care how high your score is or isn't
Fair Isaac: "Those agencies [Fannie Mae and Freddie Mac],
have indicated to lenders that any consumer with a FICO score
above 620 is good while consumers below 620 should result in further inquiry from the lender, Watts said... Once you get into the upper echelon of FICO scores -- in the high 700s -- lenders don't care how high your score is or isn't
Average Credit Scores By State
How Do You Measure Up:
California 672 New Jersey 693 Connecticut 694 New York 686 Delaware 684 North Carolina 667 Florida 673 Georgia 668 Ohio 685 Illinois 684 Pennsylvania 696 Indiana 676 Rhode Island 692 South Carolina 665 Kansas 682 South Dakota 710 Kentucky 677 Tennessee 679 Louisiana 663 Texas 651 Maryland 688 Vermont 706 Massachusetts 703 Virginia 689 Michigan 679 Washington 691
California 672 New Jersey 693 Connecticut 694 New York 686 Delaware 684 North Carolina 667 Florida 673 Georgia 668 Ohio 685 Illinois 684 Pennsylvania 696 Indiana 676 Rhode Island 692 South Carolina 665 Kansas 682 South Dakota 710 Kentucky 677 Tennessee 679 Louisiana 663 Texas 651 Maryland 688 Vermont 706 Massachusetts 703 Virginia 689 Michigan 679 Washington 691