Today we’re going to chat about credit scores and what letter grade we would assign to each range of credit scores. This will help you gauge if you are in a good range or a poor range or somewhere in-between with your credit score.
A – Credit Score 726 +: You’re doing everything well you have no problem applying or getting approved for credit so keep doing what you’re doing!
B – Credit Score 700 – 725: This is good, but not excellent. You’ve probably had no issue applying for credit, but there’s just something keeping you from being a Grade A credit score, so you might want to take the time to figure out what that is.
C - Credit Score 626 – 699: This is an average score. You might have missed a payment here or there and you’ve had some minor issues with your credit, but nothing too serious. If you’re on the lower end of the scale you may have some difficulties applying for credit nowadays as lenders are now becoming a bit more conservative (especially for the past couple months).
D – Credit Score 330 – 625: This is considered a poor credit score. You’ve probably had some major financial issues in the last 7 years, which you need to improve and work on.
F - Credit Score 0 – 329 (including blank credit score): This is a failing grade. This range includes people who have never applied for a credit card or never borrowed money. You may think this might be great, but because this shows no history in your credit score lenders would have no idea if you’re a good or bad risk. At this point you might want to look in to credit repair or starting credit immediately!
Be sure to read our next blog on credit repair.
If you have any questions about your credit score, or how to improve your credit scores please contact us at 1-866-521-9557 or email at [email protected].