Your record of making on-time payments. A single late payment can significantly drop your score [22, 38].
They typically qualify for the best interest rates, loan terms, and elite credit card offers [5, 22].
Approval is possible but may come with higher interest rates or larger down payment requirements [23, 25]. Scores in this tier suggest a high risk of default [23].
Your score dictates the "price" of the money you borrow [14, 24].
Understanding Your Credit Score: A Guide to Ranges and Ratings
They qualify for most loans with favorable terms and competitive rates [23, 25].
Most models, including the FICO Score , prioritize five core factors:
Having a variety of credit types, like credit cards and installment loans [22].
Credit Score Range -
Your record of making on-time payments. A single late payment can significantly drop your score [22, 38].
They typically qualify for the best interest rates, loan terms, and elite credit card offers [5, 22].
Approval is possible but may come with higher interest rates or larger down payment requirements [23, 25]. Scores in this tier suggest a high risk of default [23].
Your score dictates the "price" of the money you borrow [14, 24].
Understanding Your Credit Score: A Guide to Ranges and Ratings
They qualify for most loans with favorable terms and competitive rates [23, 25].
Most models, including the FICO Score , prioritize five core factors:
Having a variety of credit types, like credit cards and installment loans [22].
