Is 3 a good credit score?
For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent.
What is a Vantage score of 3.0 mean?
• 500–600 Subprime. • 300–499 Deep subprime. Strong performance across all industry segments VantageScore 3.0 delivers strong and consistent risk prediction for a wide variety of portfolios. Figure 1 indicates how the model performs overall — specifically for mortgage, bankcard and auto lending industries.
What is a good credit score for a 20 year old?
So, given the fact that the average credit score for people in their 20s is 630 and a “good” credit score is typically around 700, it’s safe to say a good credit score in your 20s is in the high 600s or low 700s.
Which of the 3 credit scores is usually the lowest?
The FICO® Score☉ , which is the most widely used scoring model, falls in a range that goes up to 850. The lowest credit score in this range is 300. But the reality is that almost nobody has a score that low. For the most part, a score below 580 is considered “bad credit.” The average FICO® Score in the U.S. is 704.
Which of the 3 credit scores is most important?
Payment History Is the Most Important Factor of Your Credit Score. Payment history accounts for 35% of your FICO® Score. Four other factors that go into your credit score calculation make up the remaining 65%.
Is 200 a bad credit score?
For instance, most major credit scoring models follow a 300 to 850 range (the lower the score, the worse for wear, but more on this in a minute), and, while you’re looking at a score measured this way, you can generally assume anything below 600 is a bad credit score. … Excellent Credit: 750+ Good Credit:700-749.
Why is my credit score 400?
A 400 FICO® Score is considered “Poor”. It means you’ve had past payment problems, including collection accounts, judgments, bankruptcy or worse. With a “Poor” score, it’s harder to obtain credit cards, loans, and favorable interest rates.
What’s the lowest credit score I can have to buy a house?
Below 509 (Below Average) – If your score falls below 509, you are considered a high risk, so you may find it difficult to obtain finance from conventional lenders. Some lenders consider granting a home loan with this score but the interest rates are usually very high.