The Experian credit score scale varies according to which scoring model the lender pulling your credit score is used. Looking at Experian’s Vantage Score, credit scores can range from 501 to 990. Please understand that the very highest credit scores most lending professional’s ever see is in the 850 credit score range. And your score only needs to be above 740 for the very best terms.
Minimum credit score requirements vary by lender and type of credit you are applying for. Getting a mortgage requires a 640 credit score now. If yours is below this credit score range then you should work on it until it is above 660 or even 680. But don’t let that stop you from applying for a home loan. Don’t worry though if your’s in not that high. Below is a credit score chart from Experian for reference. Ignore that and look at this real world credit score scale. It’s based on real world experience, so you will know what lenders really base their credit decisions on.
F: 501—600 (High Risk)
The credit reporting agencies when talking about the credit score range always say as a disclaimer ” keep in mind there are many different credit scoring models that different lenders may use “. I think this confuses people even more. The only time this will come into play is when the credit score is just a few points above the lender’s minimum credit score guidelines.