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It is no exaggeration to say that having a good score is part of the American dream and should be taken that seriously. If you are just starting out trying to build your credit, treat it seriously and carefully consider any purchase that you are buying on credit. Make sure that you are making those payments on time, and also make sure that you are checking your credit report regularly for accuracy, and monitoring your report is an essential responsibility. There appears to be a fair bit of bafflement in relation to the question of what is a good credit score range. The basics are actually fairly simple. To have any sort of chance of getting a loan or credit card with reasonable terms and conditions, you really need to have a score of about 650. This is not ideal but it's a start.

1. 700-759 = repayment of $1,650 - 5.216% APR
2. 720 and above - Excellent
3. 760-850 = repayment of $1,609 - 4.994% APR
4. 680 to 699 scores good
5. Car Loans
6. Number of new accounts
7. Insurance premiums

If your credit score is in this range, you need help with repair. If your credit score has fallen below 500, there are major marks against your credit and very few positive marks. You will have difficulty qualifying for any loans or credit cards and you may have to pay a premium for your auto insurance. If your credit score range is not what you would like for it to be, the good news is that with credit time heals all wounds. If you begin to pay bills on time, your credit scores will start to improve. Most derogatory credit only stays on your credit report for seven years, but judgments can remain for ten years. Every month you pay bills on time, your credit rating improves.

People who fall in this range must pay their bills on time and avoid overspending. There are many insurance companies and lender that analyze your credit range before deal with you. It is in your interest that you check your credit report periodically to find out your credit standing. If you find errors in your credit report, make sure you report the errors to all credit bureaus. For a lender to give borrower a loan, they need to look into the person's credit score history. A high credit history means better loan amounts and good percentage of interest. The article below shows what each credit score scale mean and how they are interpreted. 1. Between 800 and 850 range- You fall under excellent credit score range. Statistics show only 14% of the population can attain this.

You probably won't get excellent rates, but you won't be taken to the cleaners either.

In this range, small measures can make a big difference to the final amount that you will pay. Most normal or standard loan terms are built around this credit score range. This is the average, so if your numbers sit here, you are in good company. You probably won't get excellent rates, but you won't be taken to the cleaners either. Wait, what, just because I have bad credit, I can't even get a credit card, Ok, so maybe I exaggerated a bit, Actually, people with bad credit CAN some times get approved for a loan or for a credit card, typically it will just be at a very high interest rate. And, vice versa, people with very high credit have also been known to no get approved.