Posted on Friday, 30th July 2010 by Eden Fryett
Having good credit is something we all want. It shows that we’re responsible with our money, use credit cards wisely and can get us great interest rates on loans if we need them. Although it’s nice to have a good score, not everyone has a score they’d like to brag about.
There are several things that determine our credit score and can affect your score. If you know your score but you’re not sure what it means or if it’s consider a “good score”, continue reading below to find out where you’re at.
Do I Have a Good Credit Score?:
750+: If you’ve worked hard to get your score to this point, it will pay off! This is when your score is considered “excellent”. You can’t get much better than this!
720-750: You have a great credit score. It’s not as high as it could be, but it will be pretty hard to beat!
680-700: This score is still considered “good”, but could also be improved at the same time.
620-679: You don’t want your score to fall below this level. Your credit isn’t considered good but it’s not considered horrible either. Work on raising your score and you can get that “good” score you want.
620 and lower: This is when the bad credit level hits. With a score like this it will be hard to get good rates on loans and to prove that you’re financially responsible. Work on getting this score up so that you’re not considered someone with “bad credit”.
A credit score can range quite a bit. You want to be as close to 800+ as possible and nothing lower than 650. A credit score can take some time to improve while very little time to ruin so be careful! Make good choices, use your credit card wisely, keep debt to a minimum and always make sure you pay your bills on time!
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