A bad credit score isn’t just some number. There are many detriments of having a bad FICO credit score. First, a bad credit score is considered 579 or lower. If you have a low FICO score, you can be assured that if you take a loan out, you will definitely have a higher interest rate than someone with a good FICO score. There are many ways to get a better score, and there are professionals that you should look into.
- A bad credit score means that your FICO score is below a certain threshold. Usually around 579 or below.
- There are many professionals and lessons that you can apply yourself to if you need help.
- Poorer credit scores usually means you will have a higher interest rates on your loans.
“The newer VantageScore models also break down the bad credit score range into “poor” and “very poor” categories.”