Bad Credit Score Guide
You be sitting there, looking over your credit report, and wondering- what do these numbers mean?! Unless you work in the financial industry, most people have no idea.
We’ll break it down:
No Credit:
This means that you actually don’t have any numbers on your credit report. Typically, individuals without a score haven’t had a credit card before or a record of repaying any loans.
Very Bad Credit:
Below 600. This generally indicates that you have several outstanding accounts as well as a large amount of debt. Usually, a co-signer will be required to obtain new credit. However, you may be able to apply for a second chance bank account or secured credit card. MoneyNowUSA helps thousands of people repair their bad credit every day.
Bad Credit:
Between 600 and 650. This score indicates multiple credit card debt and possibly collection accounts. You may have trouble obtaining traditional or standard credit products. However, you may also be able to apply for a second chance bank account or secured credit card. (Watch out for secured credit card scams)
Fair to Good Credit:
Between 650 and 700. If your score falls somewhere within this range, you can probably qualify for most standard credit products. You may not qualify for the best rates, but you be able to get decent rates.