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Though a majority of the American population has the so-called fair credit the young adults are not particularly aware of matters relating to the same.

The identification process:

Though there are no proper ranges to define a fair credit score, it is still assumed that anything in the range of about 640 to 680 is considered a fair credit score. Something below this (640) would be considered low and lenders would be apprehensive to loan out to the individual who has this score. However, those with scores above 680 would be offered the best rates possible. The ones in this bracket would soon gain good credit ratings.

The importance of up gradation:

When there are delinquent accounts or untimely payments with regard to revolving credit or when the debt to income ratio is poor then such individuals would come under the fair credit bracket. One must keep constant tabs especially when huge sums are settled in debts and the up gradation must be done so as to maintain the accuracy of the credit rating.

The importance of planning:

Those with fair credit need to work harder to be able to avail good interest rates. Interest rates should be negotiated with the lenders in order to arrive at something that is reasonable. This could be done with a bit of planning and one could save huge sums with a bit of negotiation. A good move would be to offer to pay a bigger deposit in return for better interest rates.

Get a co-signatory if required:

Some land owners could be apprehensive while renting out an apartment unit to a prospective tenant with a fair credit score. Under these circumstances, it would be wise to get hold of a co-signatory to avail a lease, wherein the proof of income is provided and pay a bigger deposit or even provide a month's rent as advance. This would help re-establish the trust as well as the tarnished image and send the message that the individual is financially sound as well as responsible.

Prevention is better than cure, in this case:

A fair credit score is not okay and is very risky especially since the credit scenario has tightened up quite a bit. Falling to a bad credit rating from the fair slot would only take a couple of delayed or missed payments. Lenders are known to cut credit lines and increase the minimum amount due without prior warning. So in this case prevention is certainly better than cure.