Credit Score Ranges
Do you know what the different credit score ranges mean? A huge portion of the U.S. population does not. It’s important that you know because it can determine how high of an interest rate you pay for on a loan or credit card. The credit score is a three digit number that represents how likely you will pay your bills. The FICO score ranges from 350 to 850.
If we are to view your credit score like a school report card it will be like this:
A+ Grade ranges from 800 to 850. People with this score are considered the very best and most likely topay their bills ontime. If you have this score you will get the lowest rates on things from credit cards, loans, and many more things.
A Grade ranges from 720 to 799. This score will usually get you about the same rates as someone with an 800+ score. This score is still considered excellent and you should be able to get credit and a low rate very easly.
B Grade ranges from 680 to 719. This score is still consider good, but not excellent. You will be able to quailfy for most loans, but you will pay a little more in interest. You may not be able to quailfy for the best mortage loans.
C Grade ranges from 620 to 679. This score is considered average. The scores are where a lot of people fall in. You will see some rescrictions and you may get denied when trying to acquire some loans. Scores like this can be usually be improved fairly easy by getting a free credit report and seeing what needs to be fixed.
D Grade ranges from 580 to 619. This score is considered bad. This is what creditors consider subprime. You will diffculty getting loans and credit cards. If you do manage to get a loan or credit you will be paying much higher interest rate.
F Grade ranges from 350 to 579. This score is considered failing. It will be hard to acquire any kind of credit. You will most likely have bad marks on your credit report. It is often reccommended that you see a credit counselor as soon as possible.
What range does your credit score fall in? Click Here To Get Your Free Credit Report Now!
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