Credit score is a statistical representation of your credit behavior. It emphasizes various aspects of your loan history before arriving at a number called as your credit score. It uses a formula to calculate it. The parameters are how often do you fail to pay your monthly bills and carry forward them either in parts or full and how many times you made full payments each months and so on. A score of 600 and less is considered a bad credit score and scores above 650 may stand a chance in the market. Still you relatively carry a risk to creditors. So your chance of getting a loan and especially of high dollar value is pretty less.