Mostly, lenders explore credit ratings you to definitely slide anywhere between three hundred-850, and you will FICO relationship a credit score less than 580 because a poor credit score
Your credit score (otherwise FICO get) essentially methods the borrowing obligation. The higher your own rating, the more connection you have got shown whenever borrowing or repaying loans and other kinds of borrowing.
The fact would be the fact multiple issues can result in a bad credit rating, not merely credit debt. Each one of these points is actually prevalent but can damage their credit rating notably.
There clearly was a familiar misconception that people having poor credit scores are not in control anybody. Lees verder