Credit is a contract between you and a lender where you borrow money and agree to repay it, typically with interest.
Acredit scoreis a three-digit number used to predict how likely a person is to pay their debts on time. Credit scores are a reflection of a person’screditworthinessand indicate how healthy their credit is. A person’s scores are based on theircredit history, which is compiled intocredit r...
Having a good credit score is important because it can help make your financial dreams come true You likely have more than one credit report since there are three major credit bureaus: Equifax®, Experian™ and TransUnion® If you have a bad credit score (think: 300 – 579), there ar...
High scores may help you qualify for lower interest rates, better loan terms, and more credit options, while low scores can prevent you from obtaining credit at all. By understanding how your credit score is calculated, you can take actions that may help your score and avoid the missteps ...
What is a fair credit score? VantageScore®calculates the most commonly used consumer credit scores. Within the VantageScore model, a credit score between 660–720 may fall into the following category: Fair: 601–660 FICO®is another major credit scoring company. Within the FICO model, a ...
Select defines what it means to have a prime credit score, some of the benefits and the best available credit cards for this type of borrower.
Credit score checks become easier to interpret once you know what affects your credit score. Learn more credit score information at TransUnion.
What is a bad credit score? Well, there are several credit score ranges. For instance, 780–850 may be considered "excellent" while 720–780 may be seen as "good." But when it comes to a range that may be seen as bad, a score between 300 (the lowest) and 600 fits into the “...
ranges, anything below 580 to 600 is generally considered to be a poor score. If you have a bad credit score, this can result in denied loan applications, limited credit card options, and even higher car insurance rates. Poor credit is usually the result of one or more of the following:...
Your credit score determines whether you get loans, the rates you pay and what kinds of financial options you have. Learn how your score is calculated, and how you can build it.