This is kind of interesting… What follows is a list showing the overall likelihood that people in different FICO credit score ranges will end up becoming delinquent on a loan:
800+ = 1%
750-799 = 2%
700-749 = 5%
650-699 = 15%
600-649 = 31%
550-599 = 51%
500-549 = 71%
0-499 = 87%
Last I checked, we were in the 750-799 range and rising. Of course, these numbers reflect overall averages. If, for example, you’ve recently started playing 0% balance transfer games to turn a fast buck, your credit score may have taken a nosedive without your risk profile having substantially changed. But that won’t stop creditors from casting a wary eye in your direction. The good news is that you can manipulate your credit score relatively easily, so dips of this sort are really just temporary inconveniences.
As an aside, I’m curious as to what exactly you have to do to wind up with a credit score in the 0-499 range. Any thoughts?
[Source: Ultimate Guide to a Better Credit Score]