In general, a credit score is a number generated by a mathematical formula. This formula analyzes information in your credit report to derive your credit score. Most credit scores range from from 300 to 850 with a majority of people in the 600 top 800 range. Your credit score is a reflection of your credibility (credit worthiness) and will have a big impact on the interest rates you'll receive when applying for a loan. In general a credit score above 710 will fetch the most favorable interest rates. If you would like a get started with our credit repair program click here
See our quick guide below to get a better understanding of what is considered a good or bad credit score.
550 and below
A credit score of 550 or below is considered awful by lenders. It would be very difficult or close to impossible to obtain a loan with a score below 550. If you have a poor credit score in this range, best Legal Credit Repair can help raise your score quickly. Click here to learn more - click here to sign up or call 1800-455-9416 to get a free credit repair consultation today
580:
A credit score in the 580 range is still a very poor credit score and is considered a very high risk. Consumers may be able to find lenders but will pay very high interest rates. A score in the 580 range would fetch around a 16.0% APR on a $25,000 auto loan.
600:
A score around 600 still indicates a relatively high risk for lenders. It would still be difficult to get a credit card but there are credit card companies that cater to consumers in this Fico score range. See list of easy to get credit cards for bad credit.
620:
For the most part, the mortgage market views a FICO score of 620 as the bottom cut off for a mortgage prime-rate loan. Consumers with scores near 620 are considered on the dividing line between good and bad credit. Small discrepancies and omissions can affect whether a person gets approved for a mortgage at the best interest rate. If you would like to clean up your credit and raise your score, click here to sign up or call 1800-455-9416 to get a free credit repair consultation today.
650:
On the FICO scale ranging from 300 to 900, a score of 650 or higher is considered average and is a fair credit score. With a score in this range consumers can expect to get approved for loans but with average to poor interest rates. 58 percent of Americans have a higher credit score higher than 650.
680:
A score of 680 is borderline fair on the brink of good. A credit score of 680 usually qualifies a borrower for consideration for a prime loan. Consumers can expect to get a credit card without a lot of difficulty in this range.
700:
A score of 700 is considered a good credit score. Consumers will qualify for most loans but not at the best interest rates.
720:
A credit score of 720 is considered a very good to great credit score. Consumers in this range should not have any problems with getting a loan at good interest rate
750:
A score above 750 is considered excellent and consumers in this rage will receive the lowest interest rate loans.
30 Year Fixed Mortgage Rates
These are sample rates on a $300,000 home mortgage.
| FICO Score | APR | Monthly payment |
| 760-850 | 4.460% | $1,513 |
| 700-759 | 4.682% | $1,553 |
| 680-699 | 4.859% | $1,585 |
| 660-679 | 5.073% | $1,624 |
| 640-659 | 5.503% | $1,704 |
| 620-639 | 6.049% | $1,808 |
36 Month Auto Loan Rates
These are sample rates on a $25,000 auto loan.
| FICO Score | APR | Monthly payment |
| 720-850 | 6.039% | $761 |
| 690-719 | 7.587% | $779 |
| 660-689 | 8.980% | $795 |
| 620-659 | 11.738% | $827 |
| 590-619 | 15.483% | $873 |
| 500-589 | 16.140% | $881 |
