Credit Score Ranges – Which are the Ranges For a Credit Score?

Therefore a lender told you to your credit rating was a 615 would you know if that's good? I've heard individuals get excited about a 540 credit standing until they found out that the scale is setup in a strange way. It doesn't start at 0 and it doesn't end at 1000. Just what exactly are the credit score range along with what number should you strive for?

Credit ratings range between 300, being the very worst and 850, which is the best that you can get. The "steps" between are not set in stone. A single level, say between a 619 and a 620 is not always the difference between have fair and poor credit.
Let's start at the pinnacle. A credit score 750 or above is excellent. People in this variety have few or no bad items on their credit reports. At the top you should have no problem getting a mortgage loan easily and at a very low interest rate. If your credit score is in this range, congratulations! Take into account it is possible to have a high score without established credit. It won't can you any good to have an 800 when you have no credit history.
Above 720, although it is not in the excellent range, continues to be considered good. You will get good interest rates and all round you shouldn't have to worry.
If you get into the 620 to 720 credit score range you are considered to be fair. Loans will be tougher to get along with the interest rates won't be great. You now may need to take steps to increase an individual credit scores.
A score inside the range of 619 to 350 is a poor credit rating. Of course the lower you are going the worse it becomes. If you are still around 600 you may be able to get a loan. It has additional restrictions, will likely have to have a co-signer, and the interest rates will be very high.
The good news is that your scores are always changing. If you find that you are in the bottom credit score range you can try to make improvements. Begin by spending your bills on time every month. This will begin to add positive what to your reports. Over time damaging items will come off your reports, but you need to make sure that you aren't adding more. It may also help to take a course and learn more about how you can improve your credit. Best of luck!

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