Credit Score Bands

Financial institutions vary in their evaluation of credit scores, although there are typical guidelines. Credit Scores generally range from 300-850.

High Credit Scores


A general rule-of-thumb gives a high score as exceeding 720 on the credit score scale.

Consumers in this band are considered “low risk” and are far more likely to get loans with preferential terms, such as low interest rates, than those at lower levels of the scale.



Poor Credit Scores


Below 600 on the scale is a poor rating and usually suggests difficulty in obtaining loan finance, as lenders are deterred from granting funds to those regarded as “high risk”.



Poor-Average Credit Scores


The scale between 600 and 640 sees an improvement in an individual’s borrowing prospects, however there are likely to be high interest rates to protect lenders who view this band as high to moderate risk.



Average Credit Scores


A score of 650 is about average, with lenders providing balanced terms on loans to reflect a moderate level of risk. Average levels fall in the range of 640 to 680.



Good Credit Scores


The scale between 681 and 720 indicates someone with a strong credit history, which will usually be reflected in low interest rates and favorable terms.