What Is A Bad Credit Score?
Most people can give a good guess about the state of their credit. For most people their score is good, or fair, which is the most favorable spectrum for you to land on. If you think you have bad credit there are a few ways it can affect you in your everyday life? We can help you understand what exactly a ‘bad credit score’ is and how it affects you.
The Credit Scale
Lenders don’t use a generic credit rating system so even if your credit scores on FICO® and VantageScore are ‘technically’ the same, they’re actually totally different. FICO® is the most commonly used credit rating system for lenders and scores range from 300 to 850; the higher your score on this scale, the better. The other thing you need to be aware of with the credit scale is that it is not FICO® or VantageScore or any of the other systems that determine whether your score is good or bad.