Your credit score has many effects on your overall finances which can determine a lot of factors including whether or not you will be able to buy a home, a car or even maintain a job. Credit isn’t all there is but it is very important to keep a good score. Your credit scores can range anywhere from 300 to 850. The scores between 300 and 480 are poor scores.
With these scores you won’t be able to do much of anything and you sure can’t borrow money that you may need to help you through the week until you get paid. 500-600 is a bad score but anything from 650 and above moves from average to 800 as excellent. Sometimes finances may take a toll on our everyday living to help us get through things and if we don’t take budgeting seriously and we just dig into credit cards that too can damage our credit and make it from where it may have been at least average to now bad.
No-one wants a bad credit score that makes it almost impossible to go into to be able to have possible emergency funds through sites like money mutual and others alike. Even though your credit score may be bad at first there are ways to get your credit score up to where you’d like it if you take precaution and follow steps as required. There re also a few different score scales and your personal score on each one may be different each time.
Fico, Fico next-Gen Score, Vantage Score, Esco-Fax Experian Plus are just a few to name. Each one differs on the credit score sites and even though you may have to pay for some of these sites they are affordable. Sometimes we may not think it’s necessary to keep track of these scores but they are for many reasons. To keep up with these scores can give you a sense of freedom to know where you stand financially.
Some credit score facts were retrieved from this source.