Trade in Bad Debt for Good Debt
Annette Bui| Updated May 2, 2020 | Mortgage Programs 101
What is a credit score?
Credit score falls anywhere from "300 – 850, better is higher. It's a measure of how likely you are to default (fail to pay) on a loan, the lower the number the greater the risk. Excellent credit is 781+, good is 661-780, fair is 601-660, poor is 501-600, and bad is anything below 500” (Wang, 2019).
Cox, L. (2017, October 18). 7 Credit Score Hacks to Boost Your FICO® Score Fast. Retrieved from Credit Sesame: https://www.creditsesame.com/blog/credit/7-credit-score-hacks-boost-fico-score-fast/
Wang, J. (2019, January 31). How to Increase Your Credit.