Bad credit is really a relative term. Many people gauge their credit based on the FICO score (Fair Isaac Corporation). FICO scores are slotted into five levels: Poor, Fair, Good, Very Good, and Excellent. So what are the numbers? Well, a "Poor" score would be between 300 to 579. A "Fair" score is 580 to 669. The "Good" score range (670-739) is where most Americans find themselves with an average credit score of 695. Now we advance into the upper echelon on credit scoring and a place where getting qualified for credit cards is an easier feat. "Very Good" FICO scores fall between 740 to 799. And finally, Excellent credit is any score above 800.
Now, depending on where you fall within this vast credit scale you may find yourself with bad credit. But in this case, the word "bad" refers, not to your score, but to any credit portfolio that cant get you what you want and need, right? If you know where to look and what resources to utilize, a person with "bad" credit can still get access to the funds they need, we just need to know where to find it.
If you've ever been denied for a loan or had your credit limit decreased or maybe even an account closure without your permission...you could be in the "bad credit" department. But have no fear! What if its just because you have been going about it the conventional way, and its the UNconventional pathway that often works best. Its just that you don't know, what you don't know! Click the picture below to put yourself in a better situation.
