Everyone likes to have healthy credit scores. All things can be
availed easily if a person has a good credit score. Good credit score not only
provides the ease of access but also helps in availing the things at cheaper
rates.
If you are going to take any type of loan from bank, then, you
must have a good credit score. Banks don’t lend loan if you have a bad credit
score which is a part of the credit report. Credit report records the scores of
credit bureaus and user’s basic & payment details.
There are many institutions known as credit bureaus that manage the
credit record. Credit scores are divided into specific ranges that decide
whether the user scores are bad, poor, fair, or good. Given below is a sample
of the scores of FICO credit bureau.
-Bad/Sub-prime:599 and Lower
-Poor/Standard:600-649
-Fair/Preferred:650-699
-Good/Prime:700-739
-Excellent/Elite:740 and Higher
No comments:
Post a Comment