How do i know what a good credit score is...

Question

i just graduated...i don't understand wat a good credit score is versus a bad one...plz help me...thank u

Answer 1

First, your FICO score is the credit score you should be most concerned with at your age. You can get it a myfico.com.

720 to 850: An excellent credit score. A score in this range will qualify for the best interest rates.

650-719: A very good credit score. A score in this range will qualify for most credit applications, albeit at a higher interest rate than the 720+ crowd. Most of the folks in this group have one or two lates on their reports, but generally have no major delinquencies. Most consumers fall into this category on average.

620-649: A decent credit score. A score in this range will qualify for most credit applications, but at a significantly higher interest rate than the 650+ crowd. Most of the folks in this group have several lates and/or one or two major delinquencies.

300-619: A poor credit score. A score in this range will not qualify for most credit applications, and for the ones that do qualify they can expect to pay onerous interest rates. Most of the folks in this crowd have several lates and/or several major delinquencies.  

Answer 2

500 Bad 800 Excellent