![]() Here’s a credit score chart with ranges courtesy of Experian - and what they mean for you: Credit score Remember: The higher your score, the better it is for you. The following pieces of information determine your actual score (courtesy of Wells Fargo): Granted, the scores won’t typically differ that much from bureau to bureau. This means you can have three different credit scores at any time. And there are THREE major credit bureaus that provide these reports: Their scores are on a range between 300 and 850 and are determined by information found on an individual’s credit report. They’re a data company that founded the credit scoring system back in the late-eighties. While there are different kinds of credit rating scales for individuals, the most commonly used one is the FICO score. Your credit score affects interest rates, credit card approvals, and even things like whether or not you’ll get approved to rent apartments. The credit rating scale is a measure that helps lenders determine whether or not they should lend you something. ![]() ![]() Because we’re going to show you a system to change that. If your credit score is high, expect great interest rates on home loans, near-universal approval for credit cards, and an awesome dating life ( it’s true: a higher credit score predicts a better dating life). We’re going to take a look at the most common scale, FICO and show you how these little numbers can impact your ability to live a Rich Life. But different bureaus use different credit rating scales. Your credit rating (or credit score) gives lenders an idea of how risky you are to lend to.
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