Yes, it fits in the "Poor score" category. See link: http://www.buzzle.com/articles/credit-score-rating-scale.html
The difference between credit score and credit rating is simple Credit score (or credit history) is the history of paying back debt where as credit rating the the reputation for paying back money owing
A poor credit score can often prevent an individual from obtaining another credit card, including rewards cards. Many financial companies do not want to offer credit to those with a bad rating for fear that they will not be paid for the charges incurred.
Due to the high rate of loan defaults over the past few years, banks rely heavily on a borrower�s credit score to ensure that they will pay back their loans as agreed. � If you have a poor credit score rating and need to apply for financing, there are things that you can do to improve your score quickly.� One of the most effective ways to improve your score would be to pay down your credit card balances.� Having a high rate of credit card utilization will negatively affect your score.� Paying these down will result in an immediate improvement to your credit score rating.�
There are various websites where one can get a free credit rating score. Some such websites are Equifax, AnnualCreditReport, Credit Karma, and myFICO.
Yes, it fits in the "Poor score" category. See link: http://www.buzzle.com/articles/credit-score-rating-scale.html
A credit score rating is not hereditary. If your parents have bad scores, it doesn't affect you, unless they are deadbeats and applied for a loan under your social. You build your own credit score, which under 650 is generally considered poor.
a poor credit rating would be 0
The difference between credit score and credit rating is simple Credit score (or credit history) is the history of paying back debt where as credit rating the the reputation for paying back money owing
A poor credit score can often prevent an individual from obtaining another credit card, including rewards cards. Many financial companies do not want to offer credit to those with a bad rating for fear that they will not be paid for the charges incurred.
Due to the high rate of loan defaults over the past few years, banks rely heavily on a borrower�s credit score to ensure that they will pay back their loans as agreed. � If you have a poor credit score rating and need to apply for financing, there are things that you can do to improve your score quickly.� One of the most effective ways to improve your score would be to pay down your credit card balances.� Having a high rate of credit card utilization will negatively affect your score.� Paying these down will result in an immediate improvement to your credit score rating.�
An individual's credit score can affect all aspects of life. Having a good credit score, or improving a poor score, can be accomplished by several ways, including paying off debt, never submitting late payments, and not having a high debt to income ratio. http://money.msn.com/credit-rating/9-fast-fixes-for-your-credit-scores-weston.aspx
A credit score is a credit evaluation rating. The British use score to mean the number twenty, as well.
There are various websites where one can get a free credit rating score. Some such websites are Equifax, AnnualCreditReport, Credit Karma, and myFICO.
577 is a fairly poor credit score. To have a credit score that is acceptable, you want your score to be between 620-680.
520
People with a lower credit rating score present a higher risk to lenders than those with a higher credit rating score. Therefore, those who present the highest risk will receive the highest interest rates and those who present the lowest risk will receive the lowest interest rates. While this may not seem fair, the bank sees someone with a 650 credit rating score as a higher risk of defaulting on their loan than a person with a 750 credit score. This is because, statistically speaking, those with a 750 credit rating score do default less than those who a 650 score.