There are different types of credit scoring systems and therefore different credit score ranges. The FICO credit score is the most well known and used credit score and is probably the one most people have heard referred to as the "Fico score."\r\n\r\nThere are multiple credit scores available to lenders and each organization has created their own credit score range.\r\n\r\n \tFICO Score range: 300-850\r\n \tVantageScore 3.0 range: 300\u2013850\r\n \tPLUS Score: 330-830\r\n \tTransRisk Score: 100-900\r\n \tEquifax Credit Score: 280\u2013850\r\n\r\nCredit Scoring Categories\r\nCurrently, there are two well-known scoring methods used called FICO and VantageScore. FICO scores were created by FICO and use a scoring algorithm that is different from VantageScore scores. VantageScore was created through a partnership of the three credit bureaus Experian, Equifax, and TransUnion. The FICO and VantageScore credit scores use a range of 301 to 850. Within that range, consumers may fall into different categories from bad to excellent credit.\r\n\r\n \tExcellent Credit: 750+\r\n \tGood Credit: 700-749\r\n \tFair Credit: 650-699\r\n \tPoor Credit: 600-649\r\n \tBad Credit: below 600\r\n\r\nThese categories are a good way to figure out where you fall within that range but lenders have their own guidelines of what is considered a good credit score. This is why it is important to know where you fall in the credit score range and to shop around for the best rates.\r\n\r\nCreditors have lending guidelines that may consider any score under 700 a high risk and therefore charge a higher interest rate. While others may approve a credit application\u00a0with a 640 and above credit score.\u00a0It is important to know what your credit score is but equally important to know where that score falls within the range. This will give you a better of an idea of how a lender may view your credit.\r\n\r\nIn summary, your credit score, where you fall in the credit score range and the lender's guidelines can determine whether or not your score is considered bad, good or excellent.