You may be surprised to learn that the median FICO score was 716 as of April 2021. Since reaching 700 for the first time in April 2017, the average FICO score has risen steadily.
That, however, is not the only shocking fact. If you didn't know any better, you might be surprised to learn that 23.3% of consumers have a credit score of 800 to 850. The typical scale for FICO scores is 300 to 850. A FICO score of 800 or higher is exceptional.
If your score is less than 800, don't stress over it. For most credit scores, "excellent" starts at a score above 780, but this threshold shifts slightly from one score to the next.
Here, we'll compare and contrast the two most popular credit scores: the FICO 8 and the VantageScore 3.
What Does a High Credit Score Look Like?
The three major credit reporting agencies all use FICO Score 8, which is the most popular version. MyFICO.com lays out the FICO credit score ranges as follows:
Above 800 is exceptional. A score between 740 and 799 indicates excellence. To the good: from 670 to 739. Moderate: 580-669. Very low quality: 578 or less.
If you look at the breakdown, you might conclude that you need an 800 to pass. That's what it takes to earn the "exceptional" label. However, a perfect 800 FICO score is not required to qualify for the most advantageous financing terms.
That, however, is not the only shocking fact. If you didn't know any better, you might be surprised to learn that 23.3% of consumers have a credit score of 800 to 850. The typical scale for FICO scores is 300 to 850. A FICO score of 800 or higher is exceptional.
If your score is less than 800, don't stress over it. For most credit scores, "excellent" starts at a score above 780, but this threshold shifts slightly from one score to the next.
Here, we'll compare and contrast the two most popular credit scores: the FICO 8 and the VantageScore 3.
What Does a High Credit Score Look Like?
The three major credit reporting agencies all use FICO Score 8, which is the most popular version. MyFICO.com lays out the FICO credit score ranges as follows:
Above 800 is exceptional. A score between 740 and 799 indicates excellence. To the good: from 670 to 739. Moderate: 580-669. Very low quality: 578 or less.
If you look at the breakdown, you might conclude that you need an 800 to pass. That's what it takes to earn the "exceptional" label. However, a perfect 800 FICO score is not required to qualify for the most advantageous financing terms.