Why is my score “fair’ and not “good’?

JustGottaKnow: Why is my score “fair’ and not “good’?
I understand the credit rating chart goes like this:

350-619 poor
620-659 fair
660-749 good
750-850 excellent

I joined USAA’s credit monitoring, and it says my score is 663,but it still says my rating is ‘fair’. I hae tried Experian’s website but there is no place to ask this question. I have applied for a credit card and been turned down, so I am not sure if USAA is wrong or what.

Does anyone ae any insight?

Thanks in advance! I will try to give a best answer for 10 points to someone!

Answers and Views:

Answer by Simon M
Your credit rating will be reduced if you have at any time in the last few (5 I believe, but not 100% sure) years defaulted on any loans, or credit card repayments. You will probably also find that if you have not had a credit card or a loan for very long, you will not get a top credit rating. Put simply, anyone who hasn’t previously had a credit agreement will not have any history of how they tend to manage their repayments, so its not possible to say whether they are high or low risk. So they tend to be more “middle of the road” which is where you are.