My credit Score is 754 and it shows me my Grade as "C"

Question

Im Wondering whether 754 is a good Credit score or not, if yes, why it is showing my Grade as C

i checked in Transunion credit burea

what is the difference between Score and Grades?

Is my score a really good one? Can anyone Let me know.

thanks

Answer 1

Perhaps your debt to income ratio is low

perhaps you are too young and don't have enough credit

That is a pretty good score, today. in the world with bankruptcy and credit card debt run amuck... Lower than 700 and You'll pay a higher interest rate on loans.

Answer 2

Who ever gave you that grade is using the Vantage scoring system not FICO.

Vantage scores as follows;

A-901-990

B-801-900

C-701-800

D-601-700

F-501-600

FICO scores from 300-850 with anything that calculates to under a 300 defaulting to a 0.

While FICO doe's not give grades the largest credit union in Oklahoma rates FICO scores as follows;

Elite 740 & up

Prime 700-739

Preferred  660-699

Standard 625-659

Sub-prime 624 & under

Scores are based on the following factors;

1. Payment history  35%

2. Time in bureau  15%

3. Types of credit  10%

4. New credit  10%

5. Debt to credit ratio  30%

You will notice debt to income is not listed, that's because debt to income has NOTHING to do with your credit score.

Answer 3

Your score is great!!!

Who gave you the grade???