What is a Good Credit Score? And More Credit Questions You Might Have

Anyone who has attempted to get a loan, credit card, or mortgage will know how important having a good credit score is to their chances of a successful application.

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Your credit score is one of the essential considerations lenders make when deciding whether or not to offer a loan.

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Credit scores are one of the factors credit card companies and lenders consider not only whether to loan the money but decide the loan amounts and interest rate.

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Credit Score Ranges

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A credit score measures a person’s propensity to repay debt, ranging from 300 to 850, and is a numerical rating.

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A borrower with a higher credit score is considered less risky, more financially responsible, and more likely to pay back the credit.

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What is the Average Credit Score and What is a Good Credit Score?

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The average VantageScore is 688, while the average FICO score is 711. Generally, a credit score of 680 or higher is considered good, and a score of 740 or above is considered exceptional.

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Different Types of Credit Scores

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1. Bad Credit Score Range

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