What is a Bad Credit Score? (Plus How to Improve It)

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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.

Key Takeaways:

  • 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.”

Read more: https://www.goodfinancialcents.com/what-is-a-bad-credit-score-plus-how-to-improve-it/