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FICO
scores represent your credit rating and they range from 300 to 850. The higher
your FICO score the better interest rates you would qualify for, as lenders base
their lending on this figure. You should aim to keep your score as high as
possible.
The
factors that affect your credit rating are as follows:
- Your
payment history
- New
credit you apply for and receive
- Types
of credit you use
- Amount
you owe
- Length
of your credit history
Although
the average FICO score is 723, a lot of you have been looking for credit card
offers for 650 FICO score. Below is a list of credit cards that recommend a
minimum score of around 650. Information, and terms and conditions can change
at any time, so if you see a card you want to apply for, it might be worth
checking the details closely to ensure you fit the criteria before applying.
If you address the five areas
that affect your FICO Score and begin increasing your score, there are a lot
more
credit card offers you can qualify for with slightly better interest rates.
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