What is the highest and lowest credit score?
Credit scores range from 300 to 850.. The higher the score the lower the predicted credit risk for lenders. Why do lenders use scores? Scores provide an extremely valuable guide to future risk based solely on credit report data. The higher the consumer’s score the lower the risk to lenders when extending new credit to a consumer. Does everyone have a credit score? For a score to be calculated on your credit report, the report must contain at least one account that has been open for six months or longer. In addition, the report must contain at least one account that has been updated in the past six months. This ensures that there is enough information, and enough recent information, in your report to compute an accurate score. Your score also will not calculate if there is a fraud statement on your credit file or if all trade lines are disputed. How often does the score change? Your credit file is continually updated with new information from your creditors. The BEACON ®FICO® score is c
