What’s the difference between excellent credit and bad credit?


bad credit
Chadelle asked:


What’s the difference between excellent credit and bad credit?

This entry was posted on Monday, July 5th, 2010 at 12:00 am and is filed under Credit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “What’s the difference between excellent credit and bad credit?”

  1. gone Says:
    July 7th, 2010 at 2:11 am

    The amount of loans you can take out and your credit card maximum gone

  2. Knowitall Says:
    July 8th, 2010 at 7:43 pm

    Good credit = low interest loans, lower cost insurance, better chance of getting a good job.
    Bad credit = no loans or very high interest, higher insurance premiums, getting turned down for jobs, not being approved to rent an apartment, etc. Knowitall

  3. Credit Trauma Says:
    July 8th, 2010 at 9:23 pm

    Excellent Credit = 720+ scores
    Good Credit = 680 - 720 scores
    Fair Credit = 620 - 680 scores
    Bad Credit = anything below 620 Credit Trauma

  4. FreeScore.com Says:
    July 11th, 2010 at 8:41 pm

    If you have an excellent credit score (between 760 and 850) you will be able to get the best rates on insurance and will have little/no problems with creditors, taking out a loan or taking out a mortgage.

    If you have a poor credit score (lower than 680) you will have high rates in insurance and a lot of difficult with creditors; taking out a loan or a mortgage will be more difficult and you will have higher interest rates.

    To learn more about what is a good credit score, visit FreeScore.com

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