What is a realistic credit score? (2024)

What is a realistic credit score?

Generally speaking, a good credit score is between 690 and 719 in the commonly used 300-850 credit score range. Scores 720 and above are considered excellent, while scores 630 to 689 are considered fair. Scores below 630 fall into the bad credit range.

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Does anyone have an 850 credit score?

Although a lot of people might like the idea of a perfect credit score, they'd likely have a hard time actually achieving it. In the U.S., only about 1.7 percent of the scorable population had a perfect 850 FICO credit score in April 2023, according to FICO data.

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What is a realistically good credit score?

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.

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What is the perfect FICO score?

A perfect credit score of 850 is hard to get, but an excellent credit score is more achievable. If you want to get the best credit cards, mortgages and competitive loan rates — which can save you money over time — excellent credit can help you qualify. “Excellent” is the highest tier of credit scores you can have.

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What is the real average credit score?

The average FICO credit score in the US is 717, according to the latest FICO data. The average VantageScore is 701 as of January 2024. Credit scores, which are like a grade for your borrowing history, fall in the range of 300 to 850.

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How rare is 900 credit score?

It's exceedingly rare for anyone to have a credit score over 900, as most credit scoring models have a maximum limit of 850, and even achieving that score is uncommon.

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How rare is an 800 credit score?

How rare is an 800 credit score? An 800 credit score is not as rare as most people think, considering that roughly 23% of adults have a credit score in the 800-850 range, according to data from FICO. A score in this range allows consumers to access the best credit card offers and loans with the most favorable terms.

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What is the average credit score in the United States?

In the U.S., the average credit score is 716, per Experian's latest data from the second quarter of 2023. And when you break down the average credit score by age, the typical American is hovering near or above that score.

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What is a good credit score by age?

How Credit Scores Breakdown by Generation
Average FICO 8 Score by Generation
Generation20222023
Generation Z (ages 18-26)679 - Good680 - Good
Millennials (27-42)687 - Good690 - Good
Generation X (43-58)707 - Good709 - Good
2 more rows

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What is a good credit score to buy a car?

A target credit score of 661 or above should get you a new-car loan with an annual percentage rate of around 7.01% or better, or a used-car loan around 9.73% or lower. Superprime: 781-850.

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Who has the best credit score ever?

For most credit-scoring models, including VantageScore 3.0 and FICO, the highest credit score possible is 850. We were able to speak to two Americans who belong to the exclusive FICO 850 Club: Brad Stevens of Austin, Texas, and John Ulzheimer of Atlanta.

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What credit score do you need for the best mortgage rate?

Generally speaking, borrowers with credit scores of 760 or higher get charged the lowest interest rates. On conventional conforming loans, which must adhere to Fannie Mae and Freddie Mac guidelines, a 780 may qualify you for a slightly lower rate—though it depends on your down payment amount.

What is a realistic credit score? (2024)
How rare is a 750 credit score?

Credit score distribution: How rare is an exceptional 800 to 850 score?
FICO® Score rangePercent within range
600-6499%
650-69912%
700-74917%
750-79924%
4 more rows
May 31, 2023

Do older people have better credit scores?

Most older Americans have been building credit for much of their lives, and this population tends to have higher FICO scores than average. But being older doesn't mean you no longer have to worry about your credit score.

How many people have 800 credit score?

According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.

Who has the lowest credit score?

Mississippi has the lowest average FICO credit score, with an average FICO score of 673.

What is the lowest credit score possible?

FICO & Vantage both set the lowest possible credit score at 300. However, almost nobody has this low of a score. In fact, according to FICO, the average credit score in America is 704. A bad FICO credit score ranges from 300-579, while a bad Vantage score ranges 300-499.

Who has a 999 credit score?

A credit score of 999 from Experian is the highest you can get. It usually means you don't have many marks on your credit file and are very likely to be accepted for a loan or credit card.

Can you get a car with a 800 credit score?

Buying a car with an 800 credit score

But just like with mortgages, having an excellent credit score like 800 should qualify you for the best rates a lender can offer, assuming your income and debt situation is acceptable.

What is a good credit score for a 25 year old?

Consider yourself in “good” shape if your credit score is above the average for people in your age group. Given that the average credit score for people aged 18 to 25 is 679, a score between 679 and 687 (the average for people aged 26 to 41) could be considered “good”.

Is there a difference between a 750 and 800 credit score?

This is because only 1% of these individuals will become delinquent on their loans in the future. While credit scores of 800 or above are labeled “exceptional,” a score of 750 will likely get you some of the best rates available for auto loans and mortgages.

Which credit score is most used by lenders?

FICO scores are generally known to be the most widely used by lenders. But the credit-scoring model used may vary by lender. While FICO Score 8 is the most common, mortgage lenders might use FICO Score 2, 4 or 5. Auto lenders often use one of the FICO Auto Scores.

What is the average age of credit score 800?

While there's no such thing as the perfect “age of credit,” a FICO study reveals that for people with 800+ FICO Scores, their average age of credit accounts was 128 months (a little over 10.5 years). Yet that doesn't mean that it will take you ten and a half years to earn good credit.

What is the average credit card debt by age?

Average credit card debt in the U.S.
Q3 2023Q3 2022
Gen Z18–26$3,262 $3,262$2,854 $2,854
Millennials27–42$6,521 $6,521$5,649 $5,649
Gen X43–58$9,123 $9,123$8,134 $8,134
Baby boomers59–77$6,642 $6,642$6,245 $6,245
1 more row
Mar 27, 2024

What is the most common credit score by age?

Average Credit Score by Age Bracket

Different age groups have varying averages, with consumers aged 18–25 having the lowest average 679 FICO score and 661 VantageScore. Those aged 77 and older have a significantly higher average score as they've built it over many years, with their average FICO score standing at 760.

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