A credit score chart shows the range of excellent, good, fair, and poor credit scores, but there is no standard chart. Credit scores are based on credit reports from three bureaus, and a consumer can get their score for a small fee. A score between 300 and 850 is divided into four categories, but it’s better to know the exact score and work to improve it.
A credit score chart is a chart that provides a graphical overview of what constitutes an excellent, good, fair, or poor credit score. Instead of showing all possible credit scores, a credit score chart will typically only illustrate credit scores that fall between two values; For example, a credit score between 600 and 700 might be considered “good.” Unfortunately, there is no standard chart for credit scores; What one lender considers a good credit score may only be considered a fair credit score by another lender.
Credit scores are based on credit reports compiled by three different credit bureaus; the score may also be called a FICO score. Each of the credit bureaus may determine a different score, but they are generally relatively comparable and within 20 to 30 points of each other. Although a consumer is entitled to one free credit report from each of the three bureaus each year, there is usually a small fee associated with receiving the credit score. However, it is a good idea to do so, as the consumer can look at a credit score chart and see where the score falls.
Typically, a credit score chart is divided into four categories. Credit scores fall between 300 and 850, from worst to best. In general, a credit score of 300 to 500 is considered very poor, 500 to 600 can be poor to fair, 600 to about 720 is considered good, and anything above 720 is considered excellent. Again, these numbers are simply a rough estimate of what might be found on a credit score chart – charts can differ by source, and there is no standard available.
While it’s a good idea to consult a credit score chart to determine where a person’s credit score falls in a general sense, it’s a better idea to know your exact credit score, track it, and work hard to improve it. Your credit score is made up of a combination of consumer debt, payment history, length of credit history, types of credit you use, and new debt, so it’s important to keep track of all of this. . Landlords, employers, lenders, insurance companies and others can check a consumer’s credit report, and they’ll see the actual score, not a credit score chart.
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