"You Are More Than a Credit Score at Triangle Lending Group" |
Your credit score is a numerical indication of the risk of you not repaying a loan. The lower your score, the higher that risk has been determined to be. A company called the Fair Isaac Corporation is responsible for these scores, also known as FICO scores. Credit scores are derived from reports kept by major credit agencies, including Experian, Equifax and TransUnion. These agencies track the amount of debt consumers have taken on and whether they pay their bills on time.
Credit scores range from 350-850.
Credit Scores below 600 may be charged higher loan rates.
Credit Scores above 700 are generally charged lower rates.
Credit Scores above 760 generally get the best rates.
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