How bad is my credit score?

Your credit score shows a potential lender whether you’re a risky borrower. It includes not only your installment payments history but all kinds of payments, e.g. bills. So, if you’ve ever had any problem with paying something off on time, your credit score may be bad. And that can prevent you from getting a loan, buying a house, or even finding a better job. So, by now, you have probably realized how important it is. But how do you know whether your credit score is bad?

There are various types of credit scores and many of them use different criteria, so when you’re buying a car, your score may not be the same as when you apply for a mortgage. However, most lenders use similar guidelines to give you an idea.

The FICO credit score

It’s the most widely recognized and the oldest credit score standard that’s used by many lenders. Its elements are as follows:

  • 35% is payment history, 30% amounts owed,
  • 15% length of credit history,
  • 10% new credit and 10% types of credits.

FICO ranges from 300 to 850 – the higher, the better.

Experian, Equifax, and TransUnion credit scores

These are three major credit bureaus that can determine your credit scores, but they don’t all share exactly the same criteria. They keep records for everyone who has any credit history. Scores range are 330-830 for Experian and 300-850 for both TransUnion and Equifax. Again – the higher, the better.


This is a new model used by three credit reporting agencies that wanted to make credit scoring consistent. Its range is 501-990 or A-F.

If you want to know more about credit scores, check out this infographic provided by Realistic Loans:

How bad is my credit score image 43443k334


  • Interesting related article 1: “What is my Credit Score?”
  • Interesting related article 2: “Definition of Credit History.”