credit report scores range
credit report scores range
What is the scoring range on a credit report from low to high?
What is the scoring range on a credit report from low to high?
A rating [Credit score 720 or higher] — You can easily obtain financing at the best rate; you can get approved for a credit card online in a few seconds. Note that a score above 750 means you have extremely good credit.
typical debt- to- income ratio: Below 35%
Mortgage: You have not been late with a payment in the last 24 months
Installment loan: You have been 30 days late making payments 0 or 1 time within the last 12 to 24 months
Revolving credit: You have been 30 or 60 days late with a payment 0 or 1 time in the last 12 to 24 months
Additional requirements: Good/excellent credit during the last 2 to 5 years; no bankruptcy within the last 2 to 10 years
B rating [Minimum credit score 620] You can get approved, but not at lowest rate. You can get credit cards and such, but at a higher rate than someone with an A rating
Typical debt-to-income ratio: Around 50%
Mortgage: You have been 30 days late with a payment 2 or 3 times in the last 12 months
Installment Loan: You have been 30 days late with a payment 2 to 4 times during the last 12 months
Revolving credit: You have been 30 days late with a payment 0 to 2 times in the last 12 months
Additional requirements: You have no 60-day late mortgage payments; if filed bankruptcy, it must be discharged 2 to 4 years ago
C rating [Minimum credit score 580] Have trouble getting approved. Very high rates. The lender might ask you to get someone to co-sign for you.
Typical debt-to-income ratio: 55% or higher
Mortgage: You have been 30 days late with a payment 3 or 4 times in the last 12 months
Installment Loan: You have been 30 days late with a payment 4 to 6 times during the last 12 months
Revolving credit: You have been 60 days late with a payment 2 to 4 times in the last 12 months
Additional requirements: If you filed bankruptcy, it was discharged 1 or 2 years ago
D rating [Minimum credit score 550] Serious trouble getting approved. Co-signor required.
Typical debt-to-income ratio: Around 60%
Mortgage: You have been 30 days late with a payment 2 to 6 times in the last 12 months; and 60 days late 1 to 2 times during the last 12 months
Installment Loan: You have a few 90 and 120 day late payments during the last 12 months
Revolving credit: You have a few 90 and 120 day late payments during the last 12 months
Additional requirements: If you filed bankruptcy, was discharged within last 12 months
E rating [Credit score under 550] Unlikely to be approved.
Typical debt-to-income ratio: Around 65%
Mortgage: You have a pattern of 20, 60, 90 and/or 120 day late payments
Installment Loan: You have a pattern of 20, 60, 90 and/or 120 day late payments
Revolving credit: You have a pattern of 20, 60, 90 and/or 120 day late payments
Additional requirements: You may have a current bankruptcy or foreclosure
Hope this answers your question
