 TITLE: How to “Fix” a Bad Credit Score CONTENT: What Is a Bad Credit Score?\n---------------------------\nOn the FICO® Score☉ 8 scale of 300 to 850, one of the credit scores lenders most frequently use, a bad credit score is one below 670. More specifically, a score between 580 and 669 is considered fair, and one between 300 and 579 is poor. The table below offers more detail on where scores fall.\nVantageScore®, another credit scoring model which was developed by the three main credit bureaus (Experian, TransUnion and Equifax), also uses a scale ranging from 300 to 850. But its definitions associated with each score range vary slightly. A VantageScore from 601 to 660 is considered fair, from 500 to 600 is poor, and from 300 to 499 is very poor. See the table below for a full breakdown.\nThe higher your credit score, the more likely you are to qualify for credit, and at better interest rates and terms. If your score is low, it can be difficult to obtain affordable credit or to get approved for a loan or credit card at all.\nYou can think of maintaining good credit as preventive medicine. You don't know when something might come up, like a breakup that means having to find a new apartment fast, but good credit can help you handle any affliction with less hassle.\nA bad credit score can lead to these roadblocks:\n*   **Potential rejection for loans and lines of credit.** These can include mortgages, car loans, personal loans, private student loans, some federal student loans for parents and graduate students, and credit cards.\n*   **Difficulty getting a rental application approved.** Many landlords conduct credit checks to evaluate your payment history, with an eye to whether you're likely to pay rent on time.\n*   **Required security deposits.** Utilities including gas, electricity and water may require you to make a security deposit when moving into a new home.\n*   **Trouble getting a new cell phone contract.** Many wireless providers check credit before taking you on as a customer, though some carriers offer prepaid plans and other arrangements that don't require a credit check.\n*   **Issues during an employment background check.** Employers may view a limited version of your credit report as part of the background screening process. They may want to confirm information on your application or evaluate how you handle money if you're applying for a financial management role. They won't see your credit score, but activities that lead to a poor score—such as missed payments—will be evident on your credit report.\n*   **Higher insurance premiums in some states.** Car insurance companies, for example, often use information from your credit report, in addition to your driving history, to assess your potential risk of submitting a claim. Your credit history cannot be factored into insurance rates in California, Hawaii or Massachusetts. END