A FICO score is a credit score that can range anywhere from 350 to 900.
Your credit score is mostly determined by how well you pay your bills.
If you always pay your bills on time you will have a higher score than someone who is over a month late in paying his bills.
This payment history makes up a bit more than a third and less than half of the total FICO score.
Needless to say it is in your best interest to keep this score at its highest so to get a good FICO score.
Then, what is considered good for a FICO score?Presently, a score over 720 is considered to be a good score.
As a matter of fact, it is an excellent credit standing.
With such a score you can apply for any type of credit without having problems in being accepted.
If your score is 650 and higher, you are considered as having a good credit standing and can qualify for most credit offers.
Keep in mind that the higher your FICO score, the better are your chances at obtaining more favorable deals.
This is particularly true nowadays with the financial crisis.
This crisis is causing lenders to being more cautious in lending money and tightening their requirements.
Consequently, what you used to qualify with a good credit standing, now requires that you have an excellent score.
You have seen in this article what is considered a good FICO score.
It should now be obvious that if you have a low FICO score you should not try to obtain credit by all means, but rather try to fix your poor credit.
With some guidance, it is possible to increase your score considerably within one month.
Indeed, there are ways to improve your credit rating that have been found to be successful time and again.
Is your FICO score low?Then, what are you waiting for to get it up!