What is the range of credit scores?
The FICO credit score range is between 850 and 300. I rarely seen those two frontiers in real life. ... 850 means you can get a loan to buy entire Tiffany store in Manhattan. 300 ..., well your credit is bad to the point you can't get any. FICO score of 700 and higher means Excellent or Very Good credit. Certain lenders offer better rates and/or discounts if you are over 720, 740, etc. Pity, their greedy loan officers might never share them with you. FICO score from 680 to 699 means Good. Pretty much you can get a normal loan. Translating in layman terms you won't be robbed too bad. FICO score from 620 to 679 is OK. You won't be denied but the terms are not going to be too generous. Still you are officially a nice person. FICO score from 580 to 619 ... . Banks, brokers love you. Want to know why? That is where bad credit starts. But it is not that bad yet. They are still able to get you a loan but on their terms. Fat commissions for them, much more expensive loan for you. Chances are you will take it since you have little choice. And you'll think they your best friends. FICO score from 500 to 580 is where the real trouble starts. Your credit is bad, period. You'll get your loan and you won't like it. But you should take it anyway, because that could be the beginning of your fresh start. Way to get away from bad credit. FICO score of 499 and below ... . My friend, you are in serious need for help for bad credit. There is very little what can be done and while it is still possible, the terms are going to be simply too brutal. The best thing is to try to repair bad credit first - the FICO credit score can be improved!
A good site for finding information regarding student loan consolidation and credit scores in relation to that would be at www.finaid.org. They state that a credit score of 650 or lower is regarded as "subprime", but lenders have been experimenting with accepting a wider range of credit scores. Good luck!
Not sure why you are even asking. With credit scores (FICO, not Vantage Scores) of 300 - 850, you want to have your credit scores at least over 640+. If you can get them to over 700+, your payments would be so much lower. Research what the difference of payments are if your credit scores are higher and much lower. Do credit repair (legal by federal law) and enjoy lower monthly payments, better interest rates…
608 is not a terrible credit score, but it's not terrific either. Scores from 720 to 850 are considered excellent. Any scores between 600 and 719 are good but not great. Consumers with scores in this lower range can but are not always able to get credit card accounts or loans, and their interest rates are generally not as favorable.
Credit scores can range from pretty much 400 to a little over 800. I view credit reports daily for home mortgages. Good credit would be 650+. Excellent credit 720+. Credit scores below 600 will NOT qualify for the best interest rates that are available. This is less than perfect credit and may require a subprime loan at a higher rate.
FICO is an acronym for Fair Isaac Corporation. They developed a system of determining credit scores which is now used by many creditors or lenders to determine credit worthiness of a person. The credit scores are implemented on a range basis and decisions to grant loans or credit is based on the individual's score. FICO credit scores ranges follow: Excellent: Over 750 Very Good: 720 or more Acceptable: 660 to 720 Uncertain: 620 to 660…
If your credit rating is excellent will cancelling a store credit card after paying it off in full in the first billing cycle affect your credit rating?
An individual with bad credit can easily improve their credit scores. Credit scores can be improved by demonstrating that one can now handle money more responsibly. Credit scores can be improved by making payments on time, do not open new lines of credit, and be able to show steady employment history for at least two years.