How to Interpret an Experian Credit Score

A credit report details your financial history, including the balances on all your credit cards and loans and your tendency to pay balances in full when they're due. The Experian credit reporting agency compiles this information to produce a credit score between 300 and 850. The higher your score, the more likely it is that lenders will give you low interest rates when you borrow money.

Instructions

1

If your Experian credit score is below 550, lenders will likely consider your credit very poor. It is almost impossible to borrow money with credit scores in this range.

2

If your credit score is between 550 and 679, lenders will likely consider your credit acceptable. If they lend you money, it may be at one of their higher interest rates.

3

If your credit score is between 680 and 850, lenders will consider your credit to be very good. They will lend you money with low to moderate interest rates and agreeable terms.