What is the typical range of FICO scores?

FICO scores, which are commonly used to assess an individual's creditworthiness, typically range from 300 to 850. This scoring system is designed to reflect a consumer's credit risk: lower scores indicate a higher risk, while higher scores suggest a lower risk of default. A score of 300 signifies very poor credit, while a score of 850 demonstrates excellent credit. This range is widely recognized and utilized by lenders to determine eligibility for loans, interest rates, and overall credit terms. Understanding where one stands within this range is crucial for financial planning and improving credit health.