Your FICO credit score is based on a mathematical equation that is risked based. People sometimes get frustrated because the difference between a 679 and 680 can mean .25% on their rate. There is a major reason for this as the risk of lending a loan is greater now then ever. So new pricing adjustments have been adopted.

Below is a graph to show what your odds are of being 90 days late on a debt:

This graph does not appropriately scale the odds but it is the best I can do. It is in percentages but for those of you that play odds games here is that break down on your odds of being 90 days late:

800+ Score: 1292 to 1   (I would take this bet, wouldn't you! All lenders do!)

760-799: 597 to 1   (Interesting to see the odds cut in half, still great odds though)

720-759: 200 to 1   (Cut in half again, still a great bet!)

660-679: 38 to 1   (This is the reason 680 and below get hit hard on their mortgage rate, odds are not looking as good)

620-659: 26 to 1   (This is where we say goodbye to conventional lending as any lower and the odds get ugly)

500-600: 8 to 1    (Good odds if its a Laker's game but bad for a lender to take a loss on 1 in 8 loans!)

500-:  2 to 1     (This is why you will not get any kind of loan with a below 500 score. Its pretty much a coin toss.)

Know Your score, Repair Your Score, Protect Your Score, Stay Educated!