What is considered a bad credit score?
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Q:

What is considered a bad credit score?

A:

Quick Answer

In theory, a credit score is only bad when a lender refuses service because of it. In the real world, a credit score is considered bad when it falls below 620, says Credit.com.

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Full Answer

According to FreeScore.com, within the bad range there are three levels: 300 to 499 is considered very bad, 500 to 579 is just bad and 580 to 619 is not bad, but certainly not good. A fair credit score is between 620 and 680, a good credit score is between 680 and 760 and a great credit score is between 760 and 850. Credit scores range from 300 to 850.

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    Is 585 a good credit score?

    A:

    A credit score of 585 is not considered to be a good credit score and indicates to lenders that the individual is in the high-risk category. With a FICO credit score of 585, it is difficult for a person to get new lines of credit or loan approvals.

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    Is 650 a good credit score?

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    How do you fix a bad credit score?

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    You can increase your credit score by paying your bills on time, keeping a relatively low balance on credit cards and having a longer credit history with multiple accounts, explains MyFICO. The amount of debt held relative to your total credit limit is also important to understand. Creditors view borrowers who max out credit cards as not able to handle debt responsibly.

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    What is a credit score?

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    A credit score is a way to measure a person’s credit risk based on factors from their credit history. The most common score used by businesses was developed by the Fair Isaac Company, and it is known as a FICO score. An individual’s FICO score can range from 300 to 850, with a higher number viewed as a more favorable score.

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