What’s considered a good FICO score?

A FICO score of 720 or higher typically means your credit risk to a lender or business is low. However, in light of the economic downturn, a score of at least 760 may be needed for the best rates on loans and new credit cards. 

A FICO score in the range of 660 to 759 is still acceptable to most lenders but your interest rate may be higher. 

A FICO score in the range of 620 to 659 indicates you’re at higher risk of defaulting on a loan based on your credit history. 

If your FICO score is less than 619, you’re generally considered a very high risk for default. You’ll either be denied credit, or you’ll have a much higher interest rate than if you had a higher credit score.