Your Credit Score -- from A to F


The nation's three major credit data reporting agencies have joined to create a single system for calculating credit scores.

A credit score, used by the vast majority of lenders to approve or deny a mortgage application, is a statistical analysis of a consumers' creditworthiness generated, in part, from information on a credit report. A credit report tracks credit consumers' payment records on individual credit accounts and reveals how well or how poorly each account is being paid. Today, three different credit scores, one from each agency, are based on three different scoring models.

The system uses a numerical score, like previous systems, but also a letter grading system scoring consumers from A to F.

  • 901-990 is an A
  • 801-900 is a B
  • 701-800 is a C
  • 601-700 is a D
  • 501-600 is an F

The dominant FICO score ranges from 350 to 850 with no letter grading system. In both cases, generally, the higher the score the more likely you are to qualify for a home loan and the lower the interest rate and better the terms. The new system is being marketed to lenders, but it's up to them to buy in or not.

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Rod Rawlings

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