Credit Report Score Chart

Credit Score Ranges and Interest Rates

Credit Report Score Chart

The credit report score chart below will help you to understand how important it is to improve your credit score. Although the numbers below change frequently (sometimes daily), the relationship between your credit score and the interest rate you can get on a mortgage is about the same.

Above 720 there is little change in interest rates, though FICO considers scores above 770 the best. A FICO score below 500 will limit your ability to secure any mortgage. You can calculate how small changes in your credit score can save you lots of money in finance charges.

Credit Score Ranges

The chart below shows the credit score ranges for the US population per Fair Isaac Corporation. The median credit score is 723 (this means that 50% of the data is below this score and 50% above).

A score below 600 is generally considered sub-prime. Surprizingly, a very small percentage of borrowers were the cause of the sub-prime mortgage meltdown of 2008.

Understanding Credit Report Score

The pie chart below provides a breakdown of how your credit score is calculated. Note that paying your bills on-time is the major influence in improving your FICO score.

The second most important part of understanding your credit score is the amount of money you owe. However, I have found that the amount of mortgage debt does not seem to influence this score. Personal debt seems to be the biggest negative influence, whether it's a credit card or an auto loan.

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