What is a bad credit score and what is a good credit score?
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Herein, what is a good credit score?
For a score with a range between 300-850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most credit scores fall between 600 and 750.
Similarly, how do you get a good credit score? Using your credit wisely and responsibly is what helps you to maintain a good score.
- Know What Goes Into a Good Credit Score. Martin Dimitrov/iStock.
- Pay Your Bills on Time.
- Keep Your Credit Card Balances Low.
- Don't Close Old Credit Cards.
- Manage Your Debt.
- Limit Your Applications for New Credit.
- Watch Your Credit Report.
Also Know, what is a bad credit score?
On the FICO® Score* 8 scale of 300 to 850, one of the credit scores lenders most frequently use, a bad credit score is one below 670. More specifically, a score between 580 and 669 is considered fair, and one between 300 and 579 is poor.
What can I get approved for with a 500 credit score?
500 Credit Score Loan & Credit Card Options
|Credit Score of 300-539||Credit Score of 540-579|
|Home Equity Loan||1.1%||2.5%|