When you get your credit report, you may look at your credit score and wonder where you fit in. Are you above the average, or below it? How many other people in the United States have your same credit score? Should you be proud or disappointed in the fact that your credit score is the number it is?
Looking at the FICO scale of 300 to 850, you are very lucky if you have a credit score above 800 because only 13 percent of the national population has a score above 800. When looking at the other extreme, only 15 percent of the population has a credit score lower than 550.
Currently, the average credit score is around 690, which is slightly below a good credit score of 700. A 690 is a good credit score, but anything lower and you are in danger of being labelled as poor credit.
In terms of the population of the United States, about 58 percent of the American population has a credit score above 700, which means just over half of the United States adult population can be labelled as good credit.
As a result, 42 percent of the American adult population can be labelled as having poor credit, which is a startling statistic if you think about the fact that 220,000,000 people have credit in the United States (adults), so that means that nearly 110,000,000 people have poor credit.
Where do you fit in? Are you part of the upper 120 million people who have good credit? Are you one of the lower 100 million or so who have bad credit? Wherever you fit in, understand what you can get for the credit you have and try to always maintain excellent credit. 850 is a hard score to reach, but through determination and hard work, you can get there.
It is said that you can check credit free online score but in reality, it is only the credit report that you can access for free but you can’t really get to know your credit score free of charge. There are three credit bureaus namely Equifax, Transunion and Experian that provide you with your copy of free credit score report, but they also don’t give you any information on your scores. However, there are a couple of websites such as www.creditkarma.com that enable you to check your scores absolutely free.
Looking at the FICO scale of 300 to 850, you are very lucky if you have a credit score above 800 because only 13 percent of the national population has a score above 800. When looking at the other extreme, only 15 percent of the population has a credit score lower than 550.
Currently, the average credit score is around 690, which is slightly below a good credit score of 700. A 690 is a good credit score, but anything lower and you are in danger of being labelled as poor credit.
In terms of the population of the United States, about 58 percent of the American population has a credit score above 700, which means just over half of the United States adult population can be labelled as good credit.
As a result, 42 percent of the American adult population can be labelled as having poor credit, which is a startling statistic if you think about the fact that 220,000,000 people have credit in the United States (adults), so that means that nearly 110,000,000 people have poor credit.
Where do you fit in? Are you part of the upper 120 million people who have good credit? Are you one of the lower 100 million or so who have bad credit? Wherever you fit in, understand what you can get for the credit you have and try to always maintain excellent credit. 850 is a hard score to reach, but through determination and hard work, you can get there.
It is said that you can check credit free online score but in reality, it is only the credit report that you can access for free but you can’t really get to know your credit score free of charge. There are three credit bureaus namely Equifax, Transunion and Experian that provide you with your copy of free credit score report, but they also don’t give you any information on your scores. However, there are a couple of websites such as www.creditkarma.com that enable you to check your scores absolutely free.
