Credit score in the United States

A credit score is like a report card that shows how trustworthy you are at paying debts. In the United States, people get a credit score when they borrow money. The credit score is based on the person’s past history with money that he or she borrowed. The credit score ranges from 300 to 850. A score of 800 and above is considered an excellent credit score, which means the person is very good at paying back the money he or she borrowed. A score between 700 and 799 is considered very good, and a score between 650 and 699 is good. The lower the score is, the more it will be difficult for a person to get approved for a loan or credit card.