Question:

What is the maximum and minimum credit score I can get?

Answer:

You can get a different maximum and minimum credit score with each of the credit reporting companies. The credit score is used to predict consumers' ability to repay debt and scoring is based on tens of variables.

Most widely used credit score is the FICO score produced in the ‘90s by Fair Isaac & Co. The FICO score will vary from 300 minimum to 850 maximum credit score for each of Equifax, Experian and TransUnion, the three major US credit bureaus, and each will report a different FICO number to you. Also, Equifax will call their score BEACON, TransUnion will call it EMPERICA, and Experian will have FICO.

Although their scorings are all FICO-based, the numbers will vary as they use different variations of the FICO algorithm and not every creditor reports to all three credit reporting companies.

There are other FICO scorings developed particularly for poor credit customers: PRBC Score, Anthem Score, FICO Expansion Score, etc.

In 2006, the three CRCs introduced the VantageScore - its maximum and minimum credit score range varies from 501 to 990. This is a consistent algorithm used by the three CRCs and only data input will vary. It is not going to replace the FICO score; rather, it is an additional score that lenders can use to better assess borrowers' credibility.

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