Tuesday, 22 March 2016

Trinity Team - North Denver Metro Realtors

No matter where you’re standing financially, it can help to know your credit score. A lot of us are oblivious to our credit scores. It can help to understand what makes up a good credit score, as where as where your credit stands.

Having and maintaining a good credit score is crucial to your long-term financial success. In this article we’re going to cover the different ranges of credit scores, how to determine your score, the credit scoring process, and the benefits of having a good credit score.

What Are The Ranges Of Credit Scores
The range of credit card scores falls within the range of 301 to 850. There are different ranges between those numbers which correspond to a certain credit standing. However, even those ranges aren’t accurate 100 percent of the time, as lenders have different definitions of what makes up a good credit score.

That being said, the ranges below will give you the best estimates:

Excellent: 750+
Good: 700-749
Fair: 650-699
Poor: 600-649
Bad: Below 599
As was mentioned above, these are general ranges. When it comes time to work with a lender, the way they process and factor in your credit score into their loan process differs from company to company.

Overall, a good credit score will never hurt you.

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