To make it easier and simpler for these creditors and lenders your credit report is then given a grade that reflects your credit history and provides a reflection of your overall creditworthiness. This grade is more commonly known as your credit score.
A low credit score signals to a lender that a higher credit risk which may cause them to offer you less than favorable terms and interest rates, whereas a higher credit score indicates that you are lower credit risk, which means you are more likely to get more favorable lending terms and better interest rates.
The FICO® score provided by Fair Isaac Corporation is the most commonly recognized credit scoring number. Your FICO® score can range anywhere from 300 to 850 with 300 being horrible and 850 being outstanding.
On average, if you have a score of 700 or above you are considered to have good credit.
A low credit score signals to a lender that a higher credit risk which may cause them to offer you less than favorable terms and interest rates, whereas a higher credit score indicates that you are lower credit risk, which means you are more likely to get more favorable lending terms and better interest rates.
The FICO® score provided by Fair Isaac Corporation is the most commonly recognized credit scoring number. Your FICO® score can range anywhere from 300 to 850 with 300 being horrible and 850 being outstanding.
On average, if you have a score of 700 or above you are considered to have good credit.
Your credit score can be affected by many different things – payment history, total amount you owe, the length of your credit history, the types of credit accounts you have, recent inquiries into your credit, etc.
Published: March 22, 2026
A low credit score signals to a lender that a higher credit risk which may cause them to offer you less than favorable terms and interest rates.
Stay On Top Of It
Because your credit report has the potential to have a huge affect on your ability to do everything from get a cell phone to get a job it would be wise for you to check your credit report at least once
Because your credit report has the potential to have a huge affect on your ability to do everything from get a cell phone to get a job it would be wise for you to check your credit report at least once
Understanding Your Credit Report (Part 2)
per year to make sure that it is accurate and up to date. If there are any errors it is solely up to you to find them, report them, and ensure that they get fixed. To fix any errors on your report you need to contact the credit reporting agency and the company associated with the error.
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