What Is a Good Credit Score?

Compass Recovery Group specializes in debt recovery and collection efforts. In operation since 2018, Compass Recovery Group assists customers in collecting delinquent payments, one of the most common causes of low credit scores.

The credit score system uses a range between 300 and 800 to measure an individual’s creditworthiness based on their past payment history. Most lenders view scores below 580 as poor. A poor credit score correlates with a higher rate of delinquency. As a result, low scores greatly reduce the likelihood of loan approval and can even make it difficult to rent an apartment or secure certain jobs.

Fair credit scores range between 580 and 670. While people with fair credit scores may be approved for loans, the lender may impose a high-interest rate or require a larger down payment due to the increased risk of default. Good credit scores are 670 or higher. Scores above 750 are considered very good and maybe rewarded with lower interest rates and better loan terms.