Creditors establish their own guidelines and break points for doling out credit. But here’s what credit scores can mean for your personal finances:
· 300-580: You’ll be denied credit or will only be approved for the very highest, most costly interest rates.
· 581-650: You may qualify for credit at high interest rates.
· 651-710: You’ll qualify for credit at moderate interest rates.
· 711-750: You’ll qualify for credit at competitive interest rates.
· 751 and up: You’ll get the most competitive, lowest interest rates on the market.