Having a good credit score is very important. Without a good credit score, getting a loan or a mortgage is very difficult. For that reason, it is very important that one understands the credit score rating scale. A person’s credit score can range from 300 to 850. 850 is the best, while 300 is the worst.

People who have a credit score between 500 and 579 have a very poor credit score. These people will have great difficulty attaining a loan. If they do qualify for a loan, the interest rates will be sky-high. People who have a credit score between 580 and 619 have a poor credit score. Those who are in this category will be able to attain a loan, but the interest rates will be very high.

People who have a credit score that is between 620 and 659 have a fair credit score. Those who are in this category will not have a problem getting a loan, but the interest rates will not be the best. People who have a credit score between 660 and 699 have a good credit score. These people should not have a problem getting a loan and at a good interest rate.

People who have a credit score between 700-759 have a very good credit score. These people will not have a problem getting a loan at a very good interest rate. Those who have credit score will not have a problem getting a loan at all. They will also have the opportunity to get the best interest rates.

The first step to improving or building credit is knowing one’s score. People who want to get a totally free credit report should go visit annualcreditreport.com. This is a website that allows a person to check his or her credit for free once a year.
More information on getting a get totally free credit report can be retrieved at the author’s website.