What does you credit score illustrate?

Credit Score Scale

Very Poor

Poor

Fair

Good

Very Good

500

500 - 600

600 - 650

650 - 700

700+

Indicates recent charge-offs, late payments, debt consolidation, student loan defaults, Bankruptcy, foreclosure, ect..... It is very likely that you will be declined for any lines of credit and pay high interest rate and huge down payment

Indicates dated charge-offs, late payments, debt consolidation, student loan defaults, Bankruptcy, foreclosure, ect..... It is very likely that you will be declined for any lines of credit and pay high interest rate and huge down payment

Indicates dated late payment, slow payment high debt to income ratio.

Consider sub-prime borrower

May be approve with high interest rate and fairly high down payment and interest rate

Indicates good payment history, no late payments, low balances on credit accounts.

Considered Prime borrower with higher interest rate low down payment if any. Depends on debt balance ratio.

Indicates perfect payment history, no late payments, Low balances on credit accounts if any. Considered a Prime borrower and will have no problem getting credit or loans and likely to have little or no down payment and the very best interest rate possible.