A credit rating scale chart shows your business’s likelihood of meeting its debt obligations.
In other words, it shows your creditworthiness.
Debt is one of the financial instruments you can leverage to grow and expand your business. It’s one of the go-to sources of capital for expansion of businesses worldwide.
You’re unlikely to expand faster without a well-structured debt.
A rating expresses the likelihood that you’ll go into default within a given time. The timeframe could be a year (short-term), anything above that is considered long-term.
Keeping a close eye on your credit score rating could spell the difference between financial health and turmoil.
Let’s assume you’ve gathered enough credit score rating data points for in-depth analysis.
How do you make sense of this data faster?
This is where credit rating scale charts, such as Gauge Chart and Likert Scale Chart, come in.
A Likert Scale Chart has choices to help you get a holistic view of your business credit score ratings. It’s straightforward to read and interpret a Likert Scale Chart, as you shall see later.
A credit score is a three-digit number.
It’s usually on a scale of 300 to 850, which estimates the likelihood of repaying debt.
The score is calculated using data from your credit accounts.
This data is mostly gathered by credit-reporting agencies and compiled into a report you can easily refer to.
The highest credit score you can attain is 850.
The table below will provide a clue about the credit score rating range, plus the corresponding risk level.
| Credit Quality | Credit Score Ranges |
| Bad: severe risk | 300-549 |
| Poor: high to moderate risk | 550-649 |
| Average/Fair: moderate to minor risk | 650-699 |
| Good: low risk | 700-749 |
| Excellent: negligible risk | 750-850 |
Let’s assume your credit score rating data is massive. It has been accumulating for years.
How can you analyze a table with hundreds of rows and columns of data? It would probably cost you a lot of time to make sense of the data.
This is where charts with rating scales, such as Gauge Chart and Likert Scale Chart, come in.
As you can see, you can easily know your credit rating score right off the bat by looking at the credit score rating chart below.
In the coming section, we’ll take you through the benefits of a credit score rating chart.
Let’s dive in.
Analyzing credit score data in bulky tables can be frustrating and expensive in the long run.
Credit Score rating charts, such as Likert Scale Chart, can help you to save time and energy by analyzing your business’s ability to meet its debt obligations.
A credit score rating chart provides a versatile way of comparing data for in-depth insights.
With data visualization tools such as ChartExpo, you can easily visualize your credit score data for in-depth insights to measure your business’s ability to service its debt.
Opportunities are always appearing in your data.
You can continuously improve your credit rating standing using data if you have credit score rating charts in your armory.
These charts can uncover hidden opportunities by pointing out gaps and outliers in your data.
One of the common uses of a credit score rating chart is to highlight changes between two or more key variables in your data.
You can easily know when your credit rating score is taking a nosedive or growing.
You’ll never get caught off-guard by your debtors.
Some credit score rating charts show changes over time.
And this means you can easily compare the results of two metrics with a common attribute. In other words, you can learn how a data point influences another data point.
This will help you optimize your credit score rating with long-term growth in mind.
Credit score rating charts can help you to create compelling data stories you can easily share with top management and other key stakeholders.
These charts are easy to read, you don’t need specialized skills or knowledge to make sense of credit score rating data.
In this section, you’ll learn how to present credit score rating data using a Likert Scale Chart.
Let’s dive in.
One time-saving way to analyze your credit score rating data is using charts and graphs, such as Likert Scale and Gauge Chart.
You’re unlikely to find visualizations designed purposely to visualize credit score rating data in Microsoft Excel.
We’re not advocating you leave Microsoft Excel.
Install a particular third-party add-in in your Excel to access credit score rating charts, such as Likert Scale Chart.
The application is called ChartExpo.
What is ChartExpo?
ChartExpo is an add-in you can easily install in your Microsoft Excel to access credit score rating charts.
ChartExpo is inexpensive. You’ll only spend $10 every month. Besides, you’re free to cancel your subscription anytime.
Also, you don’t need coding skills to generate insightful and ready-made credit score rating charts for your stories.
ChartExpo charts are available both in Google Sheets and Microsoft Excel. Please use the following CTA’s to install the tool of your choice and create beautiful visualizations in a few clicks in your favorite tool.
Before making any chart let first see how we will map credit score data:
| Scales | Credit Quality | Credit Score Ranges |
| 1 | Very Bad (Severe Risk) | 300-549 |
| 2 | Bad (High to Moderate Risk) | 550-649 |
| 3 | Average/Fair (Moderate to Minor Risk) | 650-699 |
| 4 | Good (Low Risk) | 700-749 |
| 5 | Excellent (Negligible risk) | 750-850 |
Suppose you have hypothetical credit score data of numerous companies which are located in different states of the USA. Some of these companies have good credit score and some of them have bad credit score.
Now, let’s have look on the data below:
| States | Scales | Count |
| New York | 1 | 216 |
| New York | 2 | 231 |
| New York | 3 | 556 |
| New York | 4 | 567 |
| New York | 5 | 966 |
| Alabama | 1 | 126 |
| Alabama | 2 | 285 |
| Alabama | 3 | 646 |
| Alabama | 4 | 609 |
| Alabama | 5 | 550 |
| Texas | 1 | 145 |
| Texas | 2 | 211 |
| Texas | 3 | 854 |
| Texas | 4 | 752 |
| Texas | 5 | 812 |
A credit score is a three-digit number. It’s usually on a scale of 300 to 850, which estimates the likelihood of repaying debt.
The score is calculated using data from your credit accounts.
This data is mostly gathered by credit-reporting agencies and compiled into a report you can easily refer to.
A good or excellent score depicts you qualify for the best debt options at the lowest advertised rates.
If your goal is to grow and expand according to your long-term plans, this is where you want your business to be.
A fair to good score implies you may qualify for more credit options at good rates or terms.
A credit rating scale chart shows your business’s likelihood of meeting its debt obligations.
A rating expresses the likelihood that you’ll go into default within a given time. The timeframe could be a year (short-term).
Keeping a close eye on your credit score rating could spell the difference between financial health and turmoil.
Let’s assume you’ve gathered enough data points for in-depth analysis.
How do you make sense of this data?
This is where credit rating scale charts, such as Likert Scale, come in.
A Likert Scale Chart has choices to help you get a holistic view of your business credit score ratings. It’s straightforward to read and interpret a Likert Scale Chart.
Microsoft Excel lacks credit rating scale charts. We’re not advising you to do away with your Excel.
So, what’s the solution?
We recommend you install an add-in, such as ChartExpo, to access the Likert Scale Chart and other credit score rating-friendly charts.
ChartExpo is an Excel add-in loaded with ready-made credit score rating charts, such as Likert Scale Chart.
Sign up for a 7-day free trial today to access ready-made graphs for visualizing credit score rating data.
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