What Are the Different Credit Score Ranges?

Your credit score acts as a tool for lenders to know how risky it might be to lend money to you. To understand what your credit score means you need to know which credit score range it falls into.

What are the different credit score ranges?

All credit scores are split into a series of ranges which act as a rough indication of how well you are viewed by finance lenders. Essentially, the higher your credit score is, the more trustworthy you are in the eyes of the lender. This means that you’re likely to be accepted for loans and receive better interest rates. Credit scores run from 0 to 999 and are split into several ranges in between.

Here’s a full breakdown of the Experian credit score range and what it means:

Excellent (961-999) – Will be accepted for loans and receive the best interest rates.
Good (881-960) – Almost certain to be accepted for loans and receive good interest rates.
Fair (721-880) – More than likely to be accepted for loans and receive fair interest rates.
Poor (561-720) – Could be accepted for loans and receive higher interest rates.
Very Poor (0-560) – Less likely to be accepted for loans and likely to receive high interest rates.

What do these credit score ranges mean?

Understanding your credit score without knowing which range it falls into is like trying to understand a word without its context – the meaning of one relies on the other. What is also important is where your credit score sits in this range. For example, a credit score of 881 sits in the ‘good’ range on most credit score ratings. This would tend to indicate that you have a good chance of being accepted for loans and receiving competitive interest rates. However, 881 is on the cusp between the ‘good’ and ‘fair’ range. So, whilst you have a ‘good’ credit score, you’re not as financially secure enough to receive the rates that someone in the middle of that range would receive.

Here to help, whatever your credit score

At My Car Credit, we are happy to talk to you whatever your credit score. What’s more, we’ll try our best to get you the right car finance deal for your circumstances, including poor credit car loans.

For more information around improving your credit score, check out our blogs.

Rates from 9.9% APR. Representative APR 11.9%

Evolution Funding Ltd T/A My Car Credit

How Long Does a Credit Check Take?

How Long Does It Take to Get Your Credit Score Up?

What Checks Are Done for Car Finance?

Loan amount

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 11.9%, annual interest rate (fixed) 11.87%, 47 monthly payments of £194.81 followed by 1 payment of £204.81 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,860.88, total amount payable £9,360.88.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

Your credit score acts as a tool for lenders to know how risky it might be to lend money to you. To understand what your credit score means you need to know which credit score range it falls into.