By eHow Personal Finance Editor
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Banks and other lenders depend on your FICO score to tell them whether you are a good credit risk. Your FICO score is based on your payment history, the amounts you currently owe, the length of your credit history, your new credit and the types of credit you use. A low FICO score can almost double the interest rate you'll pay on a car loan or mortgage. FICO scores range from 300 to 850, but any number much lower than 600 (and, in some cases, the 700s) could cast you as a poor credit risk.
eHow Personal Finance Editor