What is the typical range for FICO scores?

FICO scores typically range from 300 to 850. This scale is designed to represent an individual's creditworthiness, with higher scores indicating a better credit profile and lower scores indicating higher risk to lenders. A score of 300 is considered very poor, while a score closer to 850 signifies excellent credit. This range is widely used by lenders to evaluate the likelihood of a borrower repaying their loans.

Understanding this range is crucial for consumers as it affects their ability to secure loans, the interest rates they may receive, and overall financial health. Familiarity with the FICO score range helps individuals take steps to improve their credit ratings and manage their finances effectively.