What is deemed the 'perfect' FICO score?

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FastSRT8
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What is deemed the 'perfect' FICO score?

Postby FastSRT8 » Fri Oct 03, 2014 2:01 am

What is deemed to be a good FICO score?

They do post a range... but the range in the excellent range is quite broad.

What is deemed an ideal 'excellent' score outside of the obvious perfect score?
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Postby MemberSince99 » Fri Oct 03, 2014 6:53 am

I think "Good" is anywhere from 700 to 720 and up. Excellent is 740 and up. Basically if it gets you the best mortgage rate it's excellent credit. To be honest, 99.9% of the time, having a higher score than that gives no practical benefit other than bragging rights and impressing people.

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Postby takeshi » Fri Oct 03, 2014 10:03 am

FastSRT8 wrote:What is deemed the 'perfect' FICO score?

FastSRT8 wrote:What is deemed to be a good FICO score?

Perfect or good? The latter would have a broader range. Former would mean the maximum possible.

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djrez4
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Postby djrez4 » Fri Oct 03, 2014 10:41 am

Perfect is 850. This assumes Canuckistan uses the same scale we do in Yankeeland.
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FastSRT8
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Postby FastSRT8 » Fri Oct 03, 2014 11:22 am

djrez4 wrote:Perfect is 850. This assumes Canuckistan uses the same scale we do in Yankeeland.


Thanks. I'll find time to check. I'm sure I do not have 850. Never been 'perfect' in my life so I don't expect to see anything in the 800's.
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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Oct 03, 2014 11:31 am

It takes about a 750 or 760 (plus a good income) to get the best terms on a mortgage for an owner-occupied single-family home, which is what matters for most people.

But if you're a landlord and want to have mortgages on several different income properties at the same time (with a personal guarantee on all of them) then I believe the best terms require an even higher score.
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otter
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Postby otter » Fri Oct 03, 2014 1:08 pm

I think the FICO score range in Canada is 300 to 900.
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Postby thom02099 » Sat Oct 04, 2014 9:05 pm

In the USofA, anything above 760 is just bragging rights. Best terms are 760+ with very few exceptions.
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Postby hockeyplayr » Sun Oct 05, 2014 9:23 am

I've been lurking this forum for a long time. Is anyone else curious what SRT's score is?
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