Banking Category Banking: the easy, simple banking guide

What is the credit score scale?

Within the credit world, your credit score is invaluable. Before a lender will issue you credit of any sort, they refer to your credit history to determine your credit score. The higher your credit score is, the better your interest rates and loan amount will be. Credit scores are on a scale from about 330 to 850. Each lender will determine what your number means; however, generally credit scores fall into the following ranges.


Credit scores below about 579 are considered extremely high risk. Bankruptcies, poor payment history, foreclosures and other severe financial events may put you in this category. You may not qualify for any credit with this score.


Credit scores ranging from 580 to 619 are considered high risk, with extremely high interest rates.


Credit scores from about 620 to 679 are considered medium risk. Expect to see moderate to high interest rates.


Credit score ranging from about 680 to 719 are considered good. Many Americans fall within this range. Expect to see more approvals and better interest rates.

Very Good

Credit scores ranging from about 720 to 799 are considered low risk and are marked by excellent interest rates, high loan amounts and other perks and rewards.


Credit scores above 800 are considered excellent and extremely low risk. At this rate, you will have significant financial freedom, and will qualify for the best interest rates, loans and other perks and rewards.