What is considered a bad credit score?

Asked about 2 years ago - Dallas, TX

I am not sure if my score is bad or in the middle. What is a considered a bad score?

.

Attorney answers (3)

  1. Amy Lavonne Wells

    Contributor Level 14

    3

    Lawyers agree

    Answered . There is no one size fits all answer to your inquiry. There a number of different scoring models. And what is "good" to one lender, or for a particular type of loan, may be deemed unsuitable by another.

    FICO is the most common scoring model. FICO prepares a scoring model for each of the three major nationwide credit reporting agencies: Equifax, Experian, and TransUnion. As a general rule, these scores fall in a range from about 300 to 850. A score lower than 620 is generally considered a poor risk. While the most attractive terms (interest rates) are usually offered to consumers with scores over 720.

    All the best to you.

    NOTE: This Answer does not constitute legal advice. Every case is fact specific. To render a legal opinion, an... more
  2. Nicholas David Russo

    Contributor Level 8

    Answered . I agree with Ms. Wells. I think her answer is spot on. Typically 720 is good. Good luck

  3. Daniel Tam

    Contributor Level 16

    Answered . It depends. What type of credit are you trying to obtain?

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

28,717 answers this week

3,121 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

28,717 answers this week

3,121 attorneys answering