What is a bad credit score?

@augustine 

A bad credit score is a numerical representation of an individual's creditworthiness, indicating a higher risk for lenders. The commonly used credit scoring models, such as FICO and VantageScore, typically range from 300 to 850. While the exact threshold may vary between models, a bad credit score usually falls below a certain point, often considered to be around 600 or lower. Having a bad credit score can make it difficult to qualify for loans, credit cards, or favorable interest rates.

@augustine 

Some potential consequences of having a bad credit score include being denied credit applications, paying higher interest rates, being required to pay a security deposit for certain services, difficulty renting a home, or being limited in available credit options. It is important to note that different lenders may have different criteria for assessing creditworthiness, so what one considers a bad credit score might not be the same for another. It is advisable to monitor credit scores regularly and take steps to improve them if they are considered bad.