If you're trying to level up your personal finance game, working on your credit score is a good place to start. But what actually constitutes a good score? And, more importantly, how do you increase it?
If you're trying to level up your personal finance game, working on your credit score is a good place to start. But what actually constitutes a good score? And, more importantly, how do you increase it?
FICO and VantageScore credit scores range between 300 and 850. Anything above 670 is considered good, while scores above 800 are considered excellent. The next most important factor in a credit score is your credit utilization percentage, or how much credit you currently use compared to how much total credit you have. This makes up 30% of your credit score.
In general, you can use free services to look up your credit score. Many banks and credit card providers also provide a free credit score. Just be aware that you will likely not see the same score that a lender will see.