On the one hand I'm hearing that my good FICO score indicates I'm still a good credit risk, yet lenders who would have given me credit in the past may not want to do so now, given this current "credit crunch." I don't understand why they wouldn’t want to lend to me if I have a good score?
Currently, lenders have less money to work with than in the past. When this happens and they're faced with making fewer loans, lenders will make those loans to borrowers with the best chance of repayment often, those with the highest FICO® scores. For this reason, it's now more important than ever to make sure you're handling your credit responsibly.
The Score That Matters®
The FICO Score is the standard credit score in the US, used in more than 90% of lending decisions.