What is the most important FICO score?

The most important factor of your FICO® Score☉ , used by 90\% of top lenders, is your payment history, or how you’ve managed your credit accounts. Close behind is the amounts owed—and more specifically how much of your available credit you’re using—on your credit accounts. The three other factors carry less weight.

What FICO scores are considered good?

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

What is more important your FICO or credit score?

While there are many types of credit scores, FICO Scores matter the most because the majority of lenders use these scores to decide whether to approve loan applicants and at what interest rates.”

Is 714 a good credit score for buying a house?

A 714 credit score is considered a good credit score by many lenders. “Good” score range identified based on 2021 Credit Karma data. With good credit scores, you might be more likely to qualify for mortgages and auto loans with lower interest rates and better terms.

Is a 725 credit score good?

A FICO® Score of 725 falls within a span of scores, from 670 to 739, that are categorized as Good. 21\% of U.S. consumers’ FICO® Scores are in the Good range. Approximately 9\% of consumers with Good FICO® Scores are likely to become seriously delinquent in the future.

What is the range of a FICO® credit score?

Industry-specific FICO® scores — including FICO® Auto Score 8 and FICO® Bankcard Score 8 — have a broader range of 250 to 900. These scores are tailored to specific types of credit.

What credit score do lenders use for lending?

Each scoring model may be used in different lending situations. FICO scores 2, 4, and 5, for example, are used by both mortgage and auto lenders to determine borrowers’ creditworthiness. Currently, the most common FICO score is FICO 8.

What is the most common FICO score for auto loans?

FICO scores 2, 4, and 5, for example, are used by both mortgage and auto lenders to determine borrowers’ creditworthiness. Currently, the most common FICO score is FICO 8. This version can also be used in auto lending, as well as for personal loan and credit card decisions. 4 

What’s the difference between Fico® and VantageScore®?

In other words, your FICO® scores are just one type of credit score you can get. This is because FICO is a company that creates specific scoring models used to calculate your scores. But there are other companies that use different scoring models to determine your credit scores, too. VantageScore is an example of one of these companies.