Credit Scores

You will raise your credit score by taking a few quick steps, such as opening credit lines that submit your payment history to credit bureaus, keeping low balances, and settling your bills every month. That being said, deciding where to begin can be challenging. If you’re starting afresh or improving your credit following a setback, it’s important to understand how credit ratings are determined as well as how to increase them. Then, depending on the case, you should go further into more thorough guides. Credit scores and how they are … Read more

A credit score of 700 or higher is usually considered fine for a score ranging from 300 to 850. On the same scale, a score of 800 or higher is deemed exceptional. The majority of customers have credit ratings ranging from 600 to 750. The average FICO® Score in the United States in 2020 was 710, up single digits from the prior year. Creditors will be more secure in your ability to repay potential loans if your score is higher. When assessing borrowers for loans and credit cards, creditors can … Read more

With a FICO® score of 650, you’re in the group of people whose credit is considered fair. Your FICO® Score of 650 is weaker than the national average credit score in the United States. 28 percent of consumers who have credit scores in the fair range, statistically speaking, will likely become critically delinquent in the future. Many lenders are put off by these odds and refuse to deal with people whose FICO® Scores are in this number. Consumers with Fair credit scores may be targeted by lenders who specialize in “subprime” … Read more