You will be classified into one of the three categories of credit score when a finance company or bank checks your credit score. If your FICO score is more than 680 you will be rated as a "prime" customer or "A" tier and you are likely to qualify for the best interest rate.
If your score is between 620 and 680, you are named "near-prime" customer and you are likely to pay 5% higher interest rate than someone with better credit score.
If your score is below 620, then you are a "sub-prime" customer and may face difficulty in finding a bank or a finance company who will give you loan. Even if you get one you will face high interest rates.