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1 What Is a Prime Credit Score? Definition, Perks and Best Cards
A prime credit score falls within the range of 660 to 719, according to data from the federal Consumer Financial Protection Bureau (CFPB) Consumer Credit Panel.
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2 Prime Credit Definition - Investopedia
Prime credit refers to a credit score that is one level below super prime, the highest credit rating. Consumers with prime credit have very good credit and ...
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3 Understanding Prime vs. Subprime Credit Score
Scores of 620 to 799 are usually considered prime. Scores below 620 are subprime. And individuals with superprime scores have scores that exceed ...
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4 How to Become a Prime Loan Borrower - Experian
Prime borrowers typically have credit scores of 670 or above, while subprime borrowers usually have scores below that, typically in the 580 to ...
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5 Prime vs. Subprime Loans: How Are They Different? - myFICO
What Does It Mean to Be a Prime or Subprime Borrower? · Super-prime (FICO Scores of 720 or above) · Prime (FICO Scores of 660-719) · Near-prime ( ...
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6 Prime credit definition | Glossary -
A person with prime credit has a credit record that is strong enough to be offered good or excellent terms by someone extending credit. People with subprime ...
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7 Prime vs. Subprime Loans: How Are They Different
Lenders use several FICO® Score ranges to categorize loan applicants. Consumers with scores in the top range are the most prime (or "super-prime ...
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8 Subprime vs. Prime Credit Score Classifications - The Balance
Having a credit score between 580 and 669 is considered subprime according to the FICO scale and these borrowers are considered a higher risk to ...
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9 What Is Subprime Credit? | Credit Cards - US News Money
Superprime or prime scores are at the opposite end in the good or excellent credit ranges. A subprime credit score could be due to lesser ...
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10 5 Borrower Profiles You Need to Know: From Subprime to ...
What's your borrower risk profile? ; Subprime: Credit score between 300 and 639 (bad or very poor). ; Near Prime: Credit score between 640 and 719 ...
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11 Credit Score Ranges & What They Mean - Chase Bank
The average VantageScore and FICO credit score for borrowers in the US falls in this range. Lenders often call people in this category "prime" borrowers. What a ...
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12 See How You Stack Up Against Americans With Superprime ...
Perhaps more importantly, consumers with credit scores above 720 get a 12% average effective interest rate on general-purpose credit cards, ...
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13 What's the difference between subprime and prime - eCredable
Subprime is a term used to describe the types of credit and interest rates offered to consumers with low credit scores, damaged credit or no credit.
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14 What Is a Good Credit Score? - NerdWallet
A good VantageScore lies between 661 and 780, which the company calls a "prime" credit tier. VantageScores 780 to 850 are considered "superprime ...
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Some subprime lenders, and some loan officers in the course of ... “Prime” and “Subprime” refers to the ... with the highest credit scores and cleanest.
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16 Prime (Lending) - Explained - The Business Professor, LLC
Typically, a credit score for prime borrowers is above 620 when the FICO scale of 300 to 850 methodologies is applied. Basically, the prime ...
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17 What is a Good Credit Score? | Credit Score Ranges Explained
Credit scores range from 300 - 850, or poor to excellent. What is a good credit score? Click to learn more.
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18 What Is The Prime Rate? A Complete Guide - Rocket Mortgage
For clarity's sake, picture the prime rate as the most favorable interest rate that banks, credit unions and other lenders will charge their customers. It is ...
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19 credit score | finance - Britannica
People who use credit responsibly and make their payments on time generally receive high credit scores and are known as prime customers in the ...
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20 Moody's Rating Scale and Definitions
through vehicles such as a letter of credit or guarantee. P-3. (Prime-3). Moody's employs the following designations, all judged to be investment grade,.
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21 What Is the Current Prime Rate? | Credit Karma
The prime rate is a guiding interest rate that lenders reference when they set interest rates for consumers on things like credit cards, ...
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22 What Is The Prime Rate Today? – Forbes Advisor
Prime Rate Definition ... The prime rate is the interest rate banks charge their best customers for loans. “Best in this sense are the borrowers ...
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23 How Does the Prime Interest Rate Affect You? | Bankrate
If you have good credit or excellent credit, you have what is considered a “prime credit score” and are likely to be offered lower interest ...
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For prime portfolios, good accounts tend to be defined as accounts with sufficient credit history and little or no delinquency. Bad accounts for prime ...
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25 What Is the Prime Rate and Why Does It Matter?
The prime rate is the current interest rate that financial institutions in the U.S. charge their best customers. These customers have excellent credit, ...
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26 Alt-A - Wikipedia
A-minus is related to Alt-A, with some lenders categorizing them the same, but A-minus is traditionally defined as mortgage borrowers with a FICO score of ...
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27 What Is a Subprime Mortgage? Your Credit Score Is Key
This is perhaps the best definition of subprime. It's pretty much credit score driven. Some may also refer to it as “non-prime,” which might sound a little ...
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28 What is a good credit score? - Fortune
VantageScore credit scores between 601 to 660 are “near prime” and those with a range of 300 to 600 are referred to as “subprime.”.
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29 Understanding non-prime borrowers and the need to regulate ...
Non-prime people can be divided into many different categories: young, limited credit experience, bad credit history, variable- and difficult-to ...
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30 Pros and Cons of Subprime Mortgages - FHA
Subprime mortgages are loans granted to borrowers with low credit scores—usually below 600—who would not be approved for most conventional mortgages.
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31 The Geography of Subprime Credit
We classify households scored as subprime, near-prime, or prime based on the highest risk score in the household. We classify a household as subprime scored ...
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32 What is a Credit Score? Improve Your Credit with These Tips
Equifax Credit Score Range: · Poor: 300–579 · Fair: 580–669 · Good: 670–739 · Very Good: 740–799 · Excellent: 800–850 ...
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33 Prime Rate - Definition, Impact of Creditworthiness
The term “prime rate” (also known as the prime lending rate or prime interest rate) refers to the interest rate that large commercial banks ...
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34 The prime rate is a key interest rate that influences most other ...
Only the largest, most stable corporations with sterling credit scores generally qualify for the prime rate. However, changes in the prime rate ...
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35 Credit Score Definition | Credit Score Factors | Guaranteed Rate
A credit score is a three-digit number that succinctly articulates your credit history and financial reputation to future lenders. Essentially, ...
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36 What is a home equity line of credit (HELOC)? - Bank of America
An index is a financial indicator used by banks to set rates on many consumer loan products. Most banks, including Bank of America, use the U.S. Prime Rate as ...
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37 What Is The Prime Rate? | Rocket HQ
The prime rate is the base interest rate that banks charge for members with the best credit, usually large businesses. Each institution sets its own prime rate ...
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38 How do lenders set interest rates on loans?
A score above 710 is normally considered a good credit risk, while a score under 620 is considered a very high risk. Customers in the latter category have ...
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39 How Fintech Serves the 'Invisible Prime' Borrower
According to credit scoring firm FICO, 79 million Americans have ... “The U.S. is now a non-prime nation defined by lack of savings and ...
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40 Are You a Subprime or Prime Car Buyer? - Canada Drives
The higher the credit score, the more likely a person is to be approved for prime rates – interest rates in favour of good credit. Prime customers typically ...
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41 Personal loans & lines of credit | U.S. Bank
As of November 13, 2022, the variable unsecured personal line of credit APR ranged from 11.00% to 21.00% APR and the margin varied based on credit score. The ...
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42 FACT FILE - Prosperity Now
Scorecard found that 55.8% of Americans had credit scores at ... Overall, the difference between “prime” credit and barely creditworthy is $32,394 in ...
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43 Economically Conditioned Credit Scores: An Example From ...
While their credit score cutoffs may not have changed, the meaning of the credit score itself may have led them to approve borrowers with higher than ex- pected ...
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44 What Is Subprime Lending? - Federal Reserve Bank of St. Louis
Mortgage loans are typically classified as either prime or subprime, depending on their ... quency, foreclosure, or bankruptcy, (ii) a low credit score,.
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45 What Is a Fair Credit Score? | Capital One
Fair VantageScore Credit Scores · Excellent (781–850): This is the best category possible. · Good (661–780): Sometime referred to as prime ...
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46 Finance and Economics Discussion Series Divisions of ...
loan origination for borrowers with low- to moderate credit scores than for ... Using household surveys, we define a car purchase as funded directly with ...
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47 What Is a Good Credit Score? | TransUnion
A good credit score is within the range of 721 – 780. This is based on the VantageScore 3.0® scoring model. If you get a credit score from ...
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48 What is a Credit Score: Definition, Factors and How to Improve It
Your credit score is a financial report card. It's designed to predict the probability that you will default on a loan, but it has taken on much ...
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49 Serving the Credit-Invisible | NCUA
have credit scores or their credit scores are not based on a complete history of ... The Difference between Credit-invisibles and other Non-prime Borrowers.
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50 ADT Credit Score Definition | Law Insider
Define ADT Credit Score. means the designated credit score of an Obligor ... among Prime Security Services Borrower, LLC, as issuer, Prime Finance Inc., ...
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51 Subprime Auto Loans: A Second Chance at Economic ...
In fact, Equifax data shows that prime lending is ... credit scores (defined as consumers with an Equifax Risk Score of 620 and above).
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to borrowers with near-prime credit scores and/or loans requiring little ... loans newly defined to be based off Freddie Mac average prime rates—have been.
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53 The Predictive Value of Alternative Credit Scores - Amazon S3
The FICO Expansion score uses the same score range (300-850®)5 and performance definition (bad performance is defined as 90 days past due or worse over 24 ...
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54 Rate information - Lending Club
The loan grade is the result of a formula that takes into account not only credit score, but also a combination of several indicators of credit risk from the ...
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55 GAO-10-805, Nonprime Mortgages: Analysis of Loan ...
We define a loan as being in default or foreclosure if it was delinquent by ... Alt-A: Generally serves borrowers whose credit histories are close to prime, ...
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56 How Lenders Treat Sub-Prime Borrowers - Real Car Tips
In the world of car financing, everyone falls into two classes: Prime borrowers (Credit score of at least 620) and Sub-prime borrowers (those with credit ...
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57 What Are Subprime Credit Cards? - WalletHub
Subprime credit cards are cards designed for people with bad credit or limited credit history. Most major credit card companies define subprime as ...
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58 Average Auto Loan Interest Rates: Facts & Figures
Consumers with high credit scores, 760 or above, are considered to be prime loan applicants and can be approved for interest rates as low as 3%, ...
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59 NON-PRIME | definition in the Cambridge English Dictionary
Typically, non-prime loans are made to people with a low credit score and cost the borrower more. About 25% of mortgage holders in Louisiana are ...
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60 Banks Have a New Phrase for Risky Customers: 'Near Prime'
finance chief Marianne Lake said the bank has been lowering credit-score requirements to lend to more borrowers who she called "near-prime." ...
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61 Credit Score Requirements to Buy a House | 2022 Guide
The minimum credit score to get a mortgage is 580, which is considered only “fair.” And with a score of 620 or above, you have access to most ...
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62 Sub-Prime Mortgage
A poor credit score that is generally considered to be subprime for a mortgage loan is a score of 640 or below, although some lenders will consider a score of ...
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63 Payday Loans and Credit Cards: New Liquidity ... - CiteSeerX
prime and subprime credit scoring. ... Teletrack scores to make loan approval decisions for ... Usage is defined here as outstanding debt di-.
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64 Corporate credit ratings: a quick guide
investment grade issues, where the presence of credit enhancements (asset backing, security, ... Prime 1. Prime 2. Prime 3. Not prime. A–1+. A–1. A–2. A–3.
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65 What is APR on a Credit Card and How Does it Work? | Citizens
Credit cards often have a variable APR, meaning your rate can go up or down over time. Variable APRs are tied to an underlying index, such as the federal prime ...
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66 A Guide to HMDA Reporting: Getting It Right! - FFIEC
definition of “financial institution,” located at 12 CFR 1003.2(g) and ... produces numeric credit scores returns a result stating that the.
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67 Guide to Private Loans - MIT Student Financial Services
Most lenders rely on the borrower's credit score to determine eligibility for ... PRIME and LIBOR has been increasing, meaning that over the long term a ...
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68 Non-Prime Auto Lending Good for members & Good ... - Inclusiv
The Challenge Facing Members. Members with low or no credit scores need a car to get to work. Most credit unions are not making auto loans to these members.
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69 Report on the MLA and the Effects of High Interest Rates on ...
the narrow definition of consumer credit used in the original regulation no longer ... with super-prime credit scores to 24.5 percent for those with deep ...
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70 What are the criteria of being approved for a prime mortgage ...
Prime mortgage loans are available to borrowers who fit certain criteria required by lenders, such a good credit score and particular documentation.
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71 What's Wall Street Journal Prime Rate and Why Does it Matter ...
But if you have a lower credit score, you might have to pay a higher “spread" above the prime rate. If the prime rate goes up, your costs of borrowing will ...
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72 Delinquent Debt Decisions and Their Consequences over Time
those delinquency choices on consumers' future credit scores and other delinquent ... much more for the same product than someone with a prime credit score.
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73 VantageScore 3.0: A credit score built for predictiveness
credit scores for more people than ever. ... The model typically outperforms other credit scoring ... predictive accuracy among prime and near-prime.
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74 U.S. Prime Rate Frequently Asked Questions (FAQ)
I've read the definition of the Prime Rate on this website's homepage, ... Standard & Poor's has just downgraded America's credit score from AAA to AA+.
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75 What Are Credit Scores, and What Affects Them? - MoneyTips
A credit score is a number that measures how risky you are as a borrower of money. In other words, it's a measure of your creditworthiness, ...
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76 NMLS Mortgage Call Report Field Definitions & Instructions
not Alt-A or non-prime credit grade (see definition in I070 below), whose balances exceed Fannie Mae/Freddie Mac loan limits, and in which the mortgage rate ...
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prime or near-prime credit scores" when additional information is taken into consideration. ... "any well-defined computational procedure that takes some.
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78 subprime - Urban Dictionary
The term originated in the financial services industry to refer to lower-credit-score borrowers. However, thanks to continuous media use, a much broader ...
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79 What Is a Personal Line of Credit (PLOC)? - First Republic Bank
A personal line of credit (sometimes referred to as a PLOC) is a set amount of money from which you can borrow (up to the limit) for a given ...
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80 Subprime Personal Loans: Defined & Explained - Lantern Credit
As far as your credit score is concerned, there is nothing different about a subprime loan versus a prime-rate loan. Your score is affected ...
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81 5 Things You Need to Know About Credit Scores | Old Mutual
550 - 600: Good credit. Individuals with this score will receive good deals at an acceptable rate. 490- 550: Sub-prime. These people may struggle to get a loan ...
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82 Subprime Loans - What Are They, Types, Crisis, How it Works?
As the borrowers do not have good credit scores, they are likely to default. Hence, the rate is higher than the prime finances, given the risks involved.
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83 Understanding the Securitization of Subprime Mortgage Credit
securities (MBS) was dominated by loans to prime borrowers conforming to underwriting ... expected loss to corporate credit rating of the same grade, ...
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84 What Are Subprime Auto Loans? | Definition & Info
Creditors look at applicants' credit scores, length of credit history, and debt-to-income ratios. The most important factor is the credit score. This number ...
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85 What Credit Score Do You Start With? - Credit Sesame
What credit score do you start with? ; Fair, 560 to 659, 550-649, 500-600(Subprime) ; Good, 660 to 724, 650-699, 601-660(Near Prime).
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86 Subprime vs Non-Prime - What's the Difference?
Previously, someone with a low credit score (such as in the 500s) could easily get a mortgage, and they could do so with very little money down.
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87 Home Equity Loans and Lines of Credit | Fifth Third Bank
Annual Percentage Rates (APRs) ranging from Prime - 0.53% (currently 6.47%) to Prime +6.40% ... Credit Score & Interest Rate: The higher your credit score, ...
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88 Credit reference agency (CRA) data analysis of UK personal ...
groupings by credit score. 'Prime' consumers with high scores are in the upper half of the score distribution accounting for the majority of people (with or ...
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89 Subprime Loans | What was the Subprime Mortgage Crisis?
There is no defined cut-off for credit scores for extending conventional loans. However, people with a credit score of less than 600 usually don't get a ...
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90 Lines of Credit: Types, How They Work & How to Get Them
A personal line of credit is an unsecured loan. That is, you're asking the lender to trust you to make repayment. To land one, then, you'll need to present a ...
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91 Lines of credit -
Your credit score may affect the interest you'll pay on a line of credit. It tells lenders how risky it is to lend you money.
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92 What is considered good credit? How to check your score.
A good credit score is generally 680 and above, an Experian credit expert says. Scores of 750 or greater will yield better terms and rates.
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93 Credit Score Ranges: What is an Excellent, Good, or Poor ...
The most commonly used credit scoring models, FICO and VantageScore, use a scale from 300 to 850 and divide that scale into five credit score ...
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94 Chapter 01 : What Is a Credit Score? - Mint - Intuit
661-780: Prime, resulting in average rates and terms; 601-660: Near prime, resulting in worse-than-average interest rates; 300-600: Subprime ...
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