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What Is considered a Bad Credit Score?

What Is considered a Bad Credit Score?

A credit score reflects your payment history and other factors that allow a lender to rate your creditworthiness. You will be favored by lenders if you have higher credit score.

However, if you have a lower credit score, or a score under about 620, you will
likely find it difficult to obtain a loan at big banks and from traditional sources.

In general, ratings for credit scores are:

  • Excellent/very good credit score: 700 to 850
  • Good credit score: 680 to 699 (U.S. Average is a score of 682)
  • Average/OK credit score: 620 to 679
  • Low credit score: 580 to 619
  • Poor credit score: 500 to 579
  • Bad credit score: 300 to 499

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