Credit Score

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What is a Good Credit Score

A credit score is the number given to a persons credit historical past. This number is made up of the entire number of credit cards, the check of those cards, the quantity of loans a person has, as well as the number of missed or even late payments which were reported from those companies. This number can vary widely depending on these types of factors. Many people possess decent or excellent scores, while others have poor scores. Those who do not pay off their credit card balances on time or who take out way too many loans will suffer through poor credit. A credit rating is only one factor that lenders will look at when they are deciding whether to approve a loan or not.

Additional factors include the amount of the loan, if a person has even obtained a loan out with the financial institution before, and exactly what the loan will be for. These kinds of factors along with a credit rating will determine if a loan is approved. A good score will be any number above seven-hundred. A bad score is actually any number below 500. It is important to keep ratings higher so that long term loans will be authorized. Most people can still remove loans if their score is reduced, but they will pay more in interest and could have to pay the loan back faster than they desired.

When a person is attempting to raise their credit score, they should make sure to pay off all of their bills and not miss any obligations. This can ruin a persons credit score for a long time is missed payments happen to be made. A person should also make sure that they are settling loans on time. The credit score can enhance over time. Not making use of credit cards as much will even help. People needs to be prepared to sacrifice a little in their lives to pay off credit cards and lending options on time.

Comments: 58

  1. Eleonor January 27, 2013 at 5:58 am Reply

    I’ve an fair credit rating of 666. I’ve 2 CCs having a balance along with a vehicle payment Ive never been late on but it is low since i was late on obligations on my small old vehicle and student financial loans in the past but both of them are now compensated off. Am I Going To have issues once they lookup my credit?

  2. Charlyn June 23, 2013 at 3:14 am Reply

    I have a low credit score. do i need to hire someone to reapair it, and who? wanting to try and buy a house in less than a year and i want to have a decent credit score.

  3. Carlotta July 27, 2013 at 11:25 pm Reply

    What is the minimum acceptable credit score when applying for a job where the employer checks your credit?

  4. Iris August 31, 2013 at 4:40 am Reply

    What is the minimum credit score that landlords want to lease an apartment to someone?

  5. Walton September 19, 2013 at 2:13 pm Reply

    I have heard your credit score drops 200 points, is that true?

  6. Raymond October 19, 2013 at 1:07 am Reply

    My credit score is 628 (not too good I know). However, is my credit score good enough to be approved for a student loan? I do not have a cosigner so that’s not an option.

  7. Enid December 1, 2013 at 5:06 am Reply

    If someone has a credit score of 750 and gets sent to collections what will their credit score look like? I want a numerical answer and not one of those “it stays on there 7 years” responses. I know that once you pay it off you can dispute it, how do you go about doing that?

  8. Clotilde December 1, 2013 at 2:41 pm Reply

    When I apply for loans and tell the creditors what my credit score is they still run my credit. All the reports I read talk about the imporatnce of knowing your credit score and that’s fine. But what’s the importance of knowing my score when the creditors run it anyway? Also, how do we know that the rates that we qualify for are true based on ourcredit score? Is there a chart tat we can put our credit score up against and it tells us what rates we qualify for?

  9. Ginette December 18, 2013 at 2:05 am Reply

    i want to know my credit score but do not currently have a credit card, and all the sites require one.

  10. Noel December 22, 2013 at 2:40 pm Reply

    My credit score is currently at 632 (Equifax). Among open accounts I only have 3 credit cards with total credit limit of $21500 and balance of $12273 (57% utilization ratio). I’m about to pay off the balance on one of the credit cards which is $9500 leaving me with about $3000 total remaining balance (for all credit cards).

    Will this improve my credit score? By how much? I’m looking to lease a car and hoping that paying off the credit card will improve my credit to get approved for a lease.

    Additional info: I’m a single man – 26 years old – fulltime job making about $75k.

  11. Willard December 23, 2013 at 3:08 am Reply

    I want to purchase a home with the minimum down payment asking price required by the company selling the house. My credit score however isn’t that great. Even though I can make the mortage payments now, my credit history is kinda low due to my past. Step by step, what should I do?

  12. Frankie December 23, 2013 at 9:25 am Reply

    My credit score was 657 2 months ago. How long does it take to increase? I’m paying at least $100 more than the minimum due every month.

  13. Tessie December 23, 2013 at 9:27 am Reply

    I know that there is a government website that allows you to check your credit score for free, but it only let’s you check annually. I just cannot remember the name of it. Does anyone have any idea what I am talking about. Appreciate it, thanks.

  14. Tobias December 23, 2013 at 9:54 am Reply

    What happens to my credit score when I apply for a few credit cards and are not approved because they require excellent credit? Does it affect my ability to get approval on another credit card? How long is this for?

  15. Ezekiel December 23, 2013 at 2:06 pm Reply

    Lets say a person has a bad credit score, what can they do to make their credit card better?

  16. Sumiko December 23, 2013 at 8:45 pm Reply

    I want to know my credit score but can’t seem to find a site that offers your score with no gimmicks. How much does it cost? I have gotten my credit report but I couldn’t get my score there.

  17. Corinna January 29, 2014 at 10:56 am Reply

    My credit score right now is around 750, but I recently wasn’t able to make a payment on one of my credit cards. I’m just wondering how much will my credit score be affected?

  18. Ed February 2, 2014 at 10:32 am Reply

    Okay, I have a great credit score. My fiance has a poor credit score.

    What happens after we get married? Do we have a credit score together? Or separate? Or both? How does it all work?

  19. Annice February 2, 2014 at 1:20 pm Reply

    need to know what a good/bad credit score is.

  20. Isabel February 2, 2014 at 6:03 pm Reply

    I checked my credit score on two different credit agency privacy matters and credit score.com. I have to different scores. Can that happen?

  21. Trang February 12, 2014 at 4:23 pm Reply

    What can I do to increase my credit score?

  22. Tristan February 14, 2014 at 4:02 pm Reply

    First :Im 19 And just got a credit card. When you first start building credit how high of a score do the start you off with.

    Second: I’ve paid off the credit card amount 4 times each time with a balance around $180. Each time I paid it was on time and paid in full. Keeping this trend going , how fast will my credit score rise ?

  23. Josephina February 15, 2014 at 11:57 am Reply

    My Credit score is a 659, I’ve paid my bills on time. I have a Visa Credit Card from American first credit union as well as a line a credit, A personal loan witch i just recently got. My my credit history is only about 6-7 Months old.
    I heard from people that a secured card may help my credit score, or just by raising my credit limit. any ideas?

    Thanks

  24. Frederic February 20, 2014 at 4:30 am Reply

    my credit score is under 600, but I can’t get it to go up.
    i have tried getting a credit card for people with bad credit.
    i don’t’ have any current debts, and all the negative items on my credit report are really really old, like 1999 and 2002.
    how can i raise my score and get the bad stuff off my report?

  25. Willena February 20, 2014 at 4:31 am Reply

    Is a 559 credit score good for an 18 year old? I just started too

  26. Kerry February 21, 2014 at 4:01 pm Reply

    Does having cash available in checking/savings effect my credit score? Or is it better to take that cash and pay any debts?

  27. Gale February 21, 2014 at 4:02 pm Reply

    My three credit scores have always been excellent, above 800. What would make Experian go down to 773, which is “Good” instead of excellent and at the same time Trans Union goes up from 803 to 811? Doesn’t make sense to me.

  28. Ismael February 21, 2014 at 9:18 pm Reply

    So I’m working on my credit score… right now it is LOW at 576, in order to get the loan that I want it needs to be at least 600. I’m getting ready to pay off a couple debts ($998, $24, $110) that were cell phone, medical, and long distance. Will paying these 3 off raise my credit score enough? For paying off a $500 debt will it raise your score 2 points 20 points? I need to know how this works? Thanks!!
    None of it is credit card debt. Only like a cell phone bill (that was shut off years ago and never paid) a couple long distance bills, medical bills.. etc.

  29. Willard February 21, 2014 at 11:45 pm Reply

    OK i might not make sense and i might misspell a lot of words so here i go….

    ok lets say i pay something that is $74 will my credit score go up higher as in getting fixed how does all that proses works?

  30. Toby February 22, 2014 at 1:40 am Reply

    I am 21. My credit score 708. Is that good?

  31. Alfredo February 22, 2014 at 5:52 am Reply

    My credit score has went down 138 point in less than a year. I have not been late on any payments and I have only opened 1 more line of credit. Do you think it’s a mistake?

  32. Tasia February 22, 2014 at 6:27 am Reply

    My credit score was 622 in October last year. Is that considered good enough in today’s economy?

  33. Caleb February 22, 2014 at 6:38 am Reply

    Right now, My credit score is 513. I’m trying to have a credit score that will be decent enough for almost any apartment.

  34. Dexter February 22, 2014 at 6:39 am Reply

    My credit score is 601. I’ve heard from some that the score is good, and others have told me it’s fair. Which is it? All answers are appreciated.

  35. Lupe February 22, 2014 at 6:55 am Reply

    what exactly is a credit score? how does it work? my mom just got me a credit card and I have no idea about credit cards other than using it for shopping, dining, bills, and gas.

  36. Candi February 22, 2014 at 7:53 am Reply

    i just got my credit score 585 from one credit bureau and 620 from another. they both have information that is not up to date, ex the account was written off when i actually paid it in full. i have a school loan which im paying on time and should i obtain a credit card to help improve my credit worhtiness. any advice will help. thanks

  37. Mavis February 22, 2014 at 7:53 am Reply

    I just graduated and I have no previous credit history. So does this mean my credit score is simply zero…or what? Also if you have negative funds in a checking account, does it lower your score?

  38. Marshall February 22, 2014 at 8:42 am Reply

    Need info on how to raise credit score?

  39. Vernita February 26, 2014 at 12:44 pm Reply

    If i apply for another credit card even though i dont need it, and dont use it, will it still help my credit score?

  40. August March 1, 2014 at 6:25 am Reply

    in order to improve my credit score should i pay the cards off every month of leave a balance? and why
    if leaving a balance is recommended explain why and how much balance

  41. Rozella March 1, 2014 at 12:08 pm Reply

    Is 700 a good credit score ?

  42. Towanda March 10, 2014 at 4:23 pm Reply

    In the Transunion credit score range of 221-950, what are the parameters? What equals a good score? 850? 800? 750?

  43. Jacki March 11, 2014 at 10:32 pm Reply

    I checked my credit score earlier on creditkarma or whatever its called i have a pretty low credit score but it also said Car Credit Score? what does that mean?

  44. Penelope March 11, 2014 at 10:45 pm Reply

    My husband has a 570 credit score and I have no credit score according to FICO but we both make great money. Can we get approved for a home loan? Neither of us have had any major purchases in over two years, and the major purchase we did have two years ago, we have paid on early every single month. We are desperately wanting a house, anyone know what I can do to get a good loan?

  45. Shaun March 11, 2014 at 11:03 pm Reply

    I don’t have a credit card, and I owe about, 4 over do bills on diff. magezines. Do I have bad credit score? And if I pay them, can I fix my credit score?

  46. Alene March 25, 2014 at 5:15 pm Reply

    Is 630 a decent credit score?
    We are looking to consolidate our debt (hopefully). They said my score is 651 and my husband’s is 630… but we both have been bogged down with medical bills… everything else is being paid on every month, on time.
    Medical bills is what is making my score so low.

  47. Edison April 3, 2014 at 1:41 am Reply

    I have credit cards that I use and immediately pay-off once it shows on my activity. Is this something I can do to improve my credit score? Or should I leave the balance on the Credit card until the statement date and then pay off in full?
    Can you please tell me if I have to pay off the balance once it shows up on my activity or leave the balance on the credit card until the statement cycle and then pay in full when I get the statement in the mail? Which way will I be able to improve my FICO score?

  48. Vern May 16, 2014 at 2:19 am Reply

    Is 677 a good credit score

  49. Alaine May 16, 2014 at 6:07 pm Reply

    Does cancelling a credit card or a store card affect my Credit History. If so, how?
    Well, I have been having all my card for the past 6 years and I always pay off the full amount when due every month and no defaults 🙂

  50. Candelaria May 16, 2014 at 7:07 pm Reply

    I just received my credit report and am baffled.
    Equifax says 669, Experian says 683, TransUnion says 662.
    Can somebody please clarify what a ‘good’ credit score is, numerically speaking? In other words, is my credit good, bad, average, terrible?? How long does it take to improve credit scores? (Weeks? Months?)
    Thanks!

  51. Iris May 17, 2014 at 6:07 am Reply

    Hello can some one please tell me how to check my credit score at 16? I tried so many sites and they all require me to be 18 to check my score can some one please help…

    P.S. if you are not sure please do not answer!!!

    Thank You

  52. Jame May 17, 2014 at 3:07 pm Reply

    i want to know if i transfer a credit card balance to a 0% apr credit card, will it affect my credit score. my credit card bal. is 4,000.00

  53. Terrence May 27, 2014 at 8:40 am Reply

    How much does canceling a credit card lower the credit score?

  54. Galen May 30, 2014 at 1:57 pm Reply

    I don’t understand what credit score is..can someone explain in very simple terms? and what a good and bad credit score is? How do you get a good score or a bad one??

  55. Shenna May 30, 2014 at 1:57 pm Reply

    Can you get a free credit score? If not, where would I be able to get my credit score for a good price? I prefer those with experience. Thanks.

  56. Rocco June 1, 2014 at 6:01 pm Reply

    How do corporations compute your credit score?

  57. Cordia June 5, 2014 at 3:23 am Reply

    what are the different credit score ranges for each risk level?
    i know it goes up to like 800, but what are the ranges for low risk, medium risk, medium-high risk, and high risk?

  58. Miyoko June 6, 2014 at 8:47 am Reply

    i want to see what my credir score is, but i don’t have a credit card at the moment, all the credit score places asks for a credit card number??? anybody have any websites where i can get a free credit report that doesn’t require a credit number!!! please help!!

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