FICO Credit Scores and a mini explanation

Did you know that the average American credit score is 692 ? 

If your score is lower borrowing gets really tough.  

  Here's a good chart that explains the impact of your score:   

• 720 – 850 – Excellent – The best financing terms and represents the best score range  

• 700 – 719 – Very Good – qualifies to receive favorable financing 

• 675 – 699 – Average – will qualify for most loans 

• 620 – 674 – Sub-prime – May qualify but will pay higher interest 

• 560 – 619 – Risky – Might have trouble getting a loan 

• 500 – 559 – Very Risky – You need to work on improving your rating 

  This information is deemed reliable but not guaranteed

 

 Did you know that once per year you can get FREE credit reports?

Yes I mean REALLY FREE credit reports. You must WRITEto the all 3 credit bureaus and they will send you your credit report.

Also when you get a denial from a credit card, bank etc at that time you can also get a FREE CREDIT REPORT.  This is for real! not these come ons from emails, commercials etc.

Credit Bureaus addresses and phones are under the Identity Theft Post