Bad Credit
Below is a table to quickly determine your credit. We also have resources that will help you understand your credit report, increase your credit score, and impacts of your credit score.
Excellent - Profile:
Considerable credit history established with existing or past mortgages, auto loans, and/or credit cards. You pay all bills on time and have had only one late payment reported to a credit bureau within the last 7 years, and none during the past 12 months. You have not been reported to a collection agency in the past 10 years. Your Mortgage payments (if you have had one) have never been late. Any current loans you have are not in large unsecured amounts.
Good - Profile:
You have established a credit history with past auto loans, mortgages and/or credit cards. Normally, your payments are on time. No outstanding debts or payments more than 30 days late and definitely not more than 60 days late. May have a few missed payments show up on your credit report in the last 7 years, but none during the past 12 months. No bankruptcies, liens or judgments within the last 7 to 10 years and no reports to a collection agency within the last 10 years.
Fair - Profile:
You are over 18 years old and still establishing your credit history. Normally, your payments are on time. No outstanding debts or payments more than 30 days late and definitely not more than 60 days late.
Poor - Profile:
You are over 18 years old with no credit history. Or you have been reported to a collection agency within the last 10 years. Or you have bankruptcies/liens/or judgments against credit within the last 7 to 10 years.
