What Is A Bad Credit Score?

While there are no fixed values which comprise a "bad credit score", in general a FICO score falling in the range of 500 to 580 would be thought of as a bad score. But you need to understand that this is a relative range. It does not mean that no company will offer you a loan. It's just that the loan might be on terms you do not like. Due to lack of better options you might be forced to accept these terms.

If your FICO score falls below 500 you might get have serious trouble. The terms get more and more stringent.

Some tips that might help you boost your rating would include ensuring less than 4-5 lines of credit are opened; obtain depth on credit accounts; cutting balances that you carry on your credit cards to a little under about  35 percent of your limit. It is always best that you curb your spending, particularly on cards which have credit limits on the lower side.

A credit report
will list your FICO score, this is what potential creditors will
look at before giving you a loan. A credit score above 620 is considered good. Whereas, anything below 580 is considered as bad credit score.

I would call any score below a 620 as bad. Scores below this can only get minimal credit at very high rates. For most loans and in particular home loans, you need a 620+ score and this only works for government backed mortgages. Actually, if your score is anywhere near or below a 620 (middle of 3 scores), you need to start a plan of action to raise your score. Not doing so will cost you tens of thousands of dollars in excess interest over your life. It will take effort but it is well worth it.
Sincerely,
The Mortgage Buyer