subject: The Credit Score Ranges And What They Mean [print this page] You certainly know you have a credit score, and know the importance of having a good credit score. That may not tell you anything about what your credit score really means, or what it takes to improve it. Here at CreditNowUSA our lending professionals want to ensure you fully understand what your credit score really means.
Thats why CreditNowUSA.com includes detailed information about your credit score, what it means, and what can make it better or worse. If you do not truly understand your credit score, you cannot know how a deal with CreditNowUSA will affect it. To make it simple, we break ranges down into five ranges, like school grades from A+ to F but well just list the four highest credit score ranges here:
Credit Score 775 or Over
You have a superior credit score. You are a preferred credit risk. This credit score means you havent made any payments 60 or more days late for at least three years. You can negotiate for the best interest rates.
Credit Score 725-774
You have a very good credit score. Your mortgage payments have mostly been on time, but within the last two years a few of your other loan or credit card payments have been late. If you have had a bankruptcy, it is at least four years behind you. You can get standard offered market" rates on loans.
Credit Score 615-684
You have a fair credit score. You have likely been struggling, but getting by. Youve had to get some of your mortgage payments in late over the last two years, and since a year before that you may have had to shuffle other bills so that the same ones arent late each month but something is likely late all the time. You can still qualify for loans, but you will pay a premium on interest.
Credit Score 515-614
We probably do not have to tell you that you have a bad credit score. You have really been struggling, and aside from high interest rates, you will need higher down payments or more collateral for loans. Anything below this would be poor, or an F" and a credit score below 520 would likely disqualify you from most loans but dont panic! You should still got to CreditNowUSA.com and talk to us. We do not just want to help you get a loan. At CreditNowUSA we want to help you repair your credit score so we can offer you even better loans and rates in the future.
For more information, go to Credit Score at http://www.creditnowusa.com/Credit-Score
