Credit Score Ranges The Good And The Bad In Your Numbers
Many people wonder what the credit score ranges are. Theyve heard that good credit can mean lower interest rates while bad credit can lock you out of various types of loans. But even if they know their actual score, they dont know where they fall on the credit score ranges.
The reason for this confusion is, in part, that there is no clear definition for what the credit score ranges are.
Credit scores fall on a spectrum between 300 and 850. Each lender determines individually how they will price loans with everyone wanting to secure higher scoring individuals. But, this range can vary.
For instance, Freddie Mac, Smart Money, and PBSs Frontline all agree that 770 is the cut off for A+ Credit while CBS reports that anything above 720 means that you dont really have to work on your score because youll be lumped in with higher scoring individuals by lenders.
Bearing that in mind, heres some general guidelines for credit score ranges.
Scores above 760 qualify you for the best rates at most lenders. You will also qualify for the premium credit card deals. Scores between 720 and 760...
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