Credit Score Rating & What it Means

HAVING GREAT CREDIT IS MORE IMPORTANT THAN EVER.
BUT WHY WORK WITH US?

BUT WHY WORK WITH US?

Did you recently pull your credit report? Are you wondering what the numerical score is? We are here to help you decipher your credit score rating and its meaning. Credit scores are a range of numbers between 300 and 850. Several factors influence where you fall on the scale, and these factors can change throughout the duration of your life. These factors play a large part in helping you acquire personal loans, determining interest rate percentages, influencing certain establishments willingness to lease to you, and more. The general breakdown of the FICO score is an indication of how much of a financial risk you pose to potential lenders. While the average credit score varies across states, the national average within the last few years falls between 695 and 704. Below is a typical look at the credit tier and what it indicates:

Live The Life You Deserve

It is incredibly rare to have a perfect credit score rating of 850—these individuals have a long history of low balances and no delinquent payments. As mentioned above, there are various circumstances that play into your FICO score. Late or delinquent payments, no credit, and bankruptcy are some of the large factors that can affect your score and keep it within the 649 and below range. Talk with credit repair specialists or financial advisors to remove negatives or learn how to build credit. This can help improve these standings, as certain factors can stain credit scores for years. Higher FICO scores will help you receive lower interest rates from lenders, but even good standing credit can get help from interest rate advisors. These specialists will help negotiate interest terms for a multitude of applications such as mortgages, student loans, car notes, and more. For more information on how you can improve your score, check out the how to fix your FICO score page!