Best Credit Score In Kenya

Best Credit Score In Kenya

Credit scores range between 250-900 where 250 is considered a bad score and 900 is a good score. A good credit score means you are low-risk and you qualify for a low-interest rate. A bad score means you are high-risk, therefore your interest rate is higher than for a low-risk person.

How is credit score calculated in Kenya?

It uses payment performance, amount of debt and other characteristics to assess the credit worthiness of a borrower. The Metro-Score ranges from 200 to 900, where a score of less than 400 indicates that the customer is in default.

What kind of loan can I get with a 570 credit score?

Type of CreditDo You Qualify?
Secured Credit CardYES
Home LoanYES (FHA Loan)
Unsecured Credit CardMAYBE
Auto LoanNO

Which credit score is best?

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.