*Loan,banking and credit>>>credit report

When is a credit report deemed bad?

care to share the 411 on credit reportS? thanks everyone! I'll be applying for a credit card soon.

i think they call it bad when you have an outstanding debt, or you've declared bankruptcy once in your life, or you don't have enough assets.

Your credit score breaks down like this

35% Payment History
30% Amounts Owed
15% Length of Credit History
10% New Credit
10% Types of Credit

So if you have a lot of new credit or a lot of collections your score will be poor...

Your score can be between 300 and 850. so you would think in the middle would be good...NO. Anything less than 750 is really not considered very good anymore. High 600's is OK and less than 675 you have problems.

The best way to keep your credit good is 1) avoid collections (medical too) 2) make on time payments EVERY MONTH
3) keep your credit cards charged to less than 50% of available credit 4) no more than 2 credit cards.

Good Luck
http://www.myfico.com
FICO below 600 is not too good.
If your score is below 680, chances are that you are going to have a hard time getting a loan at a good interest rate. Anything below 680 is considered a risk.

Don't worry about getting a credit card, they give money to practically anyone. I would suggest using it to make small purchases, then paying in full before the billing cycle. This way your credit score goes up and you will never pay interest.
http://www.adrianv.biz/
When you obtain credit from a company, the company usually report their experience with you, "the consumer," such as late or on-time payments, being over the credit limit, no payments, etc. Companies usually report every 30-45 days. Pay all your debt on time, stay under your credit limit, and don't get more credit then you can handle and you will be OK!