600 credit history: can it be bad or good?

600 credit history: can it be bad or good?

Your rating drops in the array of ratings, from 580 to 669, considered Fair. A 600 FICO ® Score is below the typical credit rating.

Some loan providers see customers with results within the Fair range as having credit that is unfavorable and may even drop their particular credit programs. Other loan providers that concentrate on «subprime» financing, are content to utilize customers whose ratings fall within the Fair range, however they charge reasonably large rates of interest and charges.

17% of all of the customers have actually FICO ® Scores within the Fair range (580-669)

More or less 27% of customers with fico scores in the Fair range will probably come to be really delinquent as time goes by.

Simple tips to boost your 600 credit history

Think about your FICO ® rating of 600 as a springboard to raised ratings. Increasing your credit score is a process that is gradual but it is one you could begin right away.

83% of U.S. customers’ FICO ® Scores are greater than 600.