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FICO scores range from 300 to 850. This is like your SATs or ACT scores as higher is better. If you have a score above 700, you should be able to get that mortgage or auto loan with no problem. On the other hand, if your score is less than 580, you may have trouble. Many lenders are reluctant to lend money to people with scores that low. And if you were able to get credit, it would likely be a loan that comes with a much higher interest rate, which would cost you extra money over the long run. This is especially true if you were trying to get a mortgage. While an additional two or three points more in your interest rate might not seem like a very big deal, it will cost you literally thousands of extra dollars over the life of that mortgage.