Q:

What is a 680 credit score?

A:

A 680 credit score is the lower threshold of good credit on the FICO scale. This used to be the desirable score to have to refinance a home mortgage or buy a home. According to Bankrate.com, this threshold was raised to 720 in April 2012 and 740 in August 2013.

While 680 is still the threshold for good credit on the FICO scale, it is not good enough to qualify for better interest rates on mortgages. In 2012, the United States' largest lenders suffered tremendous losses, which resulted in tightened lending practices. There may be more adjustments in the future.


Is this answer helpful?

Similar Questions

  • Q:

    Is 597 a good credit score?

    A:

    A credit score of 597 is typically considered subprime or fair, according to Credit.org from Springboard. Within the subprime score range of 550 to 620, approximately 50 percent of borrower accounts become delinquent. Borrowers with a score of 597 may have trouble getting loans, and any credit they are approved for may come with fees and high interest rates.

    Full Answer >
    Filed Under:
  • Q:

    How do you boost your credit score?

    A:

    Boost your credit score by getting a credit card, maintaining a low "credit utilization ratio," keeping the number of accounts with debt to a minimum, paying bills on time and leaving current credit accounts open. This demonstrates responsible use of credit over a period of time, which raises your score.

    Full Answer >
    Filed Under:
  • Q:

    How do you fix your credit score?

    A:

    To fix your credit score, open a bank account, get a secured credit card, take out an installment loan and pay your student loans. Lastly, become an authorized user on a relative’s credit card.

    Full Answer >
    Filed Under:
  • Q:

    Is 644 a good credit score?

    A:

    According to Credit.org, a credit score of 644 is not considered a good credit score. A score that ranges from 620 to 680 is categorized as an acceptable credit score.

    Full Answer >
    Filed Under:

Explore