What is good credit scores?
Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent..
What do the 3 C’s of credit mean?
Capital and CapacityThe factors that determine your credit score are called The Three C’s of Credit – Character, Capital and Capacity. These are areas a creditor looks at prior to making a decision about whether to take you on as a borrower.
What are the C’s of credit?
Credit analysis is governed by the “5 Cs:” character, capacity, condition, capital and collateral.
What are the three C’s in real estate?
The 3 C’s of Getting a MortgageNew Rule #1: WANTED: The old-fashioned 3 “C’s”. … 1) CREDIT: You used to be able to get a decent interest rate and big mortgage with a credit score at or around 700 or even upper-600s. … 2) CAPACITY: You need to prove that you can repay the loan. … 3) COLLATERAL: You need to put down 20%.More items…•
What is credit capital?
Capital. … For personal-loan applications, capital consists of savings or investment account balances. Lenders view capital as an additional means to repay the debt obligation should income or revenue be interrupted while the loan is still in repayment.
Is 500 a good credit score?
Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 500 FICO® Score is significantly below the average credit score.