Everyone seems to care what your credit score is these days. Even insurance companies and employers are taking a look at your credit history to determine if you are a "risk" worth taking. You may pull your credit report regularly and know what your credit score is, but what does that number really mean? The problem is every lender sets its own criteria, so a good credit score to one company may be a fair credit score to another. The key is to know your FICO score, the 800 pound gorilla in the industry, and then shop around for the best deal. In addition, follow these general guidelines for demystifying FICO scores:
- 300-600: Very Bad Credit
- 600-650: Bad Credit
- 650-700: Fair Credit
- 700-850: Good to Excellent Credit
