Those that wish to purchase some items on credit are always fond of wondering the range of FICO credit score. If you are a newbie in this system or if you are in a position of being scored by your creditors, or if you wish to secure a loan, it is necessary to check your credit score for free – at credit score wiz – this will help you in knowing how you stand in getting what you are looking for.
The problem with most people is being unable to determine the number that they were given. The FICO credit score tells you the amount of credit to borrow, and also determines how you will spend it for the rest of your life.
You are at the top of the range if your credit score is up to 850, but the case is different when you have up to 300- here, you will not be able to borrow anything. So, the range of FICO credit score is 300 to 900 points.
You have a good credit score if you have a score of 680 to 700. In this case, you can easily buy a car, get a loan, or even buy a house without being charged with much interest. If your credit score is within the range of 620 to 679 points, you will get credit, only that the terms will be very high. Additionally, your APR will also be on the higher side, and you will be required to pay further charges for your credit.
People whose credit score is between 580 to 629 are said to have a low credit. Surely, they will get credit, though it is not going to be easy for them. They will also be required to pay a higher APR on their loan.
Furthermore, those having a credit score of 500 to 580 are in real trouble; surely this is a very bad score. They will not be given loans or they will be expected to present some collateral before they could be given loans.
In the final analysis, if you have a credit score of 499 or less, then you are in great need of repair. Usually, their offers are being turned down on anything they wish to buy. Keep in mind that your FICO credit score is very essential with regards to how you live your life. You need to be careful on how you handle your credit. If you are in debts, try as much as you can to make payments as fast as you can, and do not allow your credit card to be indebted.