Minimum FICO score target7 of 8FICO, the company whose credit scores are used by most lending institutions to assess a borrower's creditworthiness, recently released data showing 35 percent of credit card users fall below the 650 mark. That's up from 27 percent pre-recession. That means more than one-third of Americans are only eligible for subprime loans, Ulzheimer says. On the other hand, a credit score of 750 or above will get you approved for the best deal anybody has to offer, he says. Related Articles:Credit reports topic pageCredit cards topic pageCreating an emergency fundFICO score calculatorRelated Links:30s retirement planningEmergency savings calculatorHome sale capital gainsBoost your retirement advertisement
FICO, the company whose credit scores are used by most lending institutions to assess a borrower's creditworthiness, recently released data showing 35 percent of credit card users fall below the 650 mark. That's up from 27 percent pre-recession. That means more than one-third of Americans are only eligible for subprime loans, Ulzheimer says. On the other hand, a credit score of 750 or above will get you approved for the best deal anybody has to offer, he says.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.