What's A Good Credit Score?
Congratulations! You've decided to fix your credit and get your good credit score back.
Many experts believe that credit repair begins with your credit report. Knowing where your credit is at now will help to give you an idea of what items may need to be fixed. You are entitled by law to receive one free copy of your credit report per year from each of the three major credit bureaus.
You already knew this …and have your Equifax, Experian, and TransUnion credit reports in front of you.
Now what?
As you are trying to make sense of all the different information in the reports, you notice a 3-digit number. The explanation next to it lets you know that this number is the mathematical summary of all your financial information...your credit score.
If you are like the majority of Americans, you look at your number and ask yourself, "What is a good credit score?" or "Where does my score need to be to put me into the good credit score range?"
Benefits Of A Good Credit Score
We all know that the higher our credit score is, the better. Having a high score shows lenders and creditors that you manage your debts well and that you are a good credit risk for them. Not only will a good credit score get your applications approved, but it will also give you better interest rates on your loans.
With credit requirements being stricter today, many people believe that what is now considered a good credit score is a higher number than it used to be. I want to let you know that, although banks and other lenders are more cautious these days, it is still possible to have a score in the good category.
Check Your Credit Report For Mistakes
One of the easiest ways of doing this is to make sure that the information in your credit reports is correct. Since your credit score is calculated based upon this information, it's very important that everything is being reported correctly.
Having a credit report that shows your financial history in the best possible manner goes a long way to giving you a good credit score. If you should find any mistakes in your information, you need to dispute them immediately with the credit bureau that is responsible for the report.
Questions and Answers
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