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- A credit rating below 669 is recognized as a “bad” credit history with both the FICO and VantageScore scoring models.
- Re re Payment history, credit utilization, and credit that is hard certainly are a few for the facets that will influence your credit rating.
- A bad credit history can harm your capability to have authorized for a financial loan during the cheapest prices and could have an adverse effect on applications for any other services also, such as for example insurance coverage, resources, and phone solution.
- Get the free credit history with Credit Karma »
A credit history is a three-digit quantity that usually varies from 300 to 850. Loan providers equate higher ratings with reduced danger, and reduced ratings with greater risk. Scoring models, such as for example FICO and VantageScore, usage information from your own credit file to determine your ratings and supply them to loan providers when you make an application for credit. Read more