What Are the Ranges for Credit Scores?
When it comes to personal finance, your credit score is invaluable. A high credit score means low interest rates and higher loans. Credit scores range from bad to excellent on a points scale of approximately 330 to 850.
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Bad
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Typically, a credit score of 579 or less is considered extremely low. This rate is usually marked by bankruptcies, foreclosures or similar financially devastating events. At this rate, you may not qualify for any credit.
Low
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A low credit score generally ranges from 580 to 619. This score is still considered high risk, and will be marked by high interest rates.
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Ok
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A credit score of 620 to 679 is considered to be acceptable, however interest rates may still be fairly high.
Good
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A good credit score will range from about 680 to 719 and is considered to be medium or low risk, resulting in better interest rates and loan amounts. Most people fall into this category.
Very Good
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A credit score from 720 to 799 is considered very good and marked by low interest rates, discounts and much freedom within the lending arena.
Excellent
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A credit score of 800 or more is considered excellent and will nab you the best interest rates.
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