Why is my transunion credit score of 760 below the mean?
Transunion’s range runs to over 990. I am only at 43 percentile in ranking. I thought above 720 was "good"
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August 24th, 2010 at 7:15 pm
A 720 FICO score is good. FICO scores range from 300 to 850. TransUnion gave you a Vantage score which ranges from 500 to 990.
Creditors use FICO. Don’t waste money to get any other score. You get FICO scores at the Equifax site. You can also get FICO scores for TransUnion and Equifax at MyFico.com. The TransUnion and Experian sites use Vantage. Third party monitoring services use Fakko.
CreditKarma.com offers a free score estimator based on your TransUnion credit report. It’s not FICO but it’s sorta like FICO, give or take 50 points or so. Good enough if you are just curious about your score.
August 24th, 2010 at 7:15 pm
You are confusing what is a qualitative measure ("good") with a quantitative measure (the 760). If everyone paid their bills on time, good would still be 720, but everyone would have say 950 or better scores and the median and mean would be well over 900. Being good has nothing to do with what the average person does…it is an independent marker that puts a baseline on the scores so people can make decisions on whether to extend credit.