Credit Score Scale
The credit score scale is the range of numbers between 300 and 850 that determines the strength of your credit. Created by FICO (Fair Isaac Corporation), the credit score scale will be the deciding factor as to whether or not you will receive that mortgage or car loan. Lenders always check your FICO credit scores prior to awarding loans. They want to make sure you'll be able to pay them back consistently, before handing out money to you as a borrower.
Here's how the credit score scale works:
720-850: Great credit score! You will have no problems getting loans and/or the best possible rates.
681-720: Good credit score. You won't get denied for any loans, and will probably get low interest rates (especially if you're in the higher end of the spectrum).
641-680: Average credit score. You can probably get a loan, but your interest rates will be only decent.
600-640: Low credit score. You may get a loan, but your interest rates will probably be high.
Less than 600: It's time to seek out credit repair.
Let's say you fall into the 580-620 credit score range. This could be due to a number of reasons. Maybe you have a series of late payments. Maybe you're using 90% of your credit line (using over 35% of your credit line can badly affect your score). Or maybe you have a series of errors and inaccuracies on your credit report.
Since 79% of credit reports contain errors, it's good to get them erased as soon as possible. At Best Legal Credit Repair, we will analyze your credit reports and devise a plan to suit your specific needs. In a matter of 4-6 months, you could be back on the higher end of the credit score scale! Sign up now!
Do you fall into the low end of the credit score rating scale? It's about time you seek out credit repair. A low credit scale score could affect your ability to take out a mortgage or car loan. Even if you do receive that loan, the low credit score could cause you to pay huge interest rates of 8.5% or more.
At Best Legal Credit Repair, we fully understand the credit score rating scale and will try our best to boost your credit rating. By disputing negative items on your credit reports, we could send you to the higher end of the credit scores scale.
Let us put you on the higher end of the credit score scale today! Call us toll-free at 1-800-455-9416 for more information and a free credit repair consultation or sign up online so we can get started working on your case right away!
