When we find out our credit score for the first time, it is important to also find out what our score means. It does us no good to know a number and not know what it means or if it’s bad or good. If you just found out your credit score, this is what it could mean:
800+ – This is the best score you can have! Whatever you’re doing, continue doing it! You will get the best rates and look very responsible to banks and credit card companies.
750-799 – This is also a great score! 800 is better of course, but you can’t get much better than a score like this either!
700-749 – Being in this range is still good. It’s not considered “great” but it’s definitely a good range to be in compared to some others.
650-699 – This is starting to lower to the “ok” range. It’s not the best score and it’s not the worst. Although, there is room for improvement.
600-649 – You don’t want your score to lower much more than this. You’re not in the worst position, but banks won’t look at you as being as responsible as someone with a score of 700+.
Below 600 – You need to work on your score. Whether you’re paying your bills late, have too much debt, or you’re opening up too many credit cards, you need to make sure you take care of this problem before it gets out of hand.
As you can see, credit scores can range quite a bit. If you’re at the top, great job. If you’re at the bottom, it’s ok because you can always work on improving your score!
By: Tom Tessin
About the Author:
Find out your Credit Score Ratings at FindSecuredCards.com, as well as more of my work.
