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  1. Home
  2. Credit Score
  3. What is my credit score?

What is my credit score?

Your credit score is a number which defines how risky you are as someone who wants a loan.

Credit scores are issued by credit bureau’s. The three credit bureau’s Fincheck works with are:

  • Compuscan
  • Experian
  • Transunion

Credit scores are not standard across different bureau’s. Each bureau has it’s own scale.

Experian’s credit score ranges are:

  • 300 – 579: Poor
  • 580 – 669: Fair
  • 670 – 739: Good
  • 740 – 799: Excellent
  • 800 – 850: Exceptional

Transunion’s credit score ranges are:

  • 0 – 486: Very Bad
  • 487 – 526: Poor
  • 527 – 582: Fair
  • 583 – 613: Average
  • 614 – 680: Good
  • 681 – 766: Excellent
  • 767+: Exceptional

Compuscan’s credit score ranges are:

  • 0 – 618: Poor
  • 619 – 633: Fair
  • 634 – 649: Good
  • 659 – 669: Excellent
  • 670+: Exceptional

The lower your credit score, the less likely you are to receive a good loan deal as the lender views you as very risky. This is why its important to improve your credit score.

To improve your credit score, you need to view your credit report and find the factors which are affecting your score.

Updated on September 12, 2019

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