Credit Score Scale
Good Credit Score Scale
If you're curious to know what is a good credit score scale, then all you have to do is look at the diagram on your left.
Having good credit scores is important, but you must make sure that you carefully understand that you have different credit scores from each of the major credit rating agencies. If you do not have all three of your credit scores, there is no way to know how you rate on these credit score chart listed here.
A good credit score scale for most individuals is having a score above 680 on all three of your credit scores. If you are unable to see all of your credit scores at this time, then simply request your free credit scores and go ahead and get your free credit reports at the same time.
Understanding your credit scores is important, but actually the information that is contained within each of your unique credit reports as contained at the credit bureaus is actually more important. It is more important because it is this information that creates your credit scores. If you do not understand the information contained within your credit report, and you cannot understand how you have the current credit scores that you're looking at now.
The credit score scale is useless unless you understand how you have the scores you have and how you can work to raise the scores if they are lower than your desire. Everybody wants to have a good credit rating, but it does not happen by accident, and just because your scores are good today does not mean they will stay good without your attention.
In general, a good credit rating is obtained by paying your bills on time and not having too many lines of credit. People that actually have many lines of credit, will get lower scores, regardless of what these loans are used for. People that have a few lines of credit that have been seasoned for quite a few years generally end up having the highest credit scores. If you currently keep your credit cards with high balances then you can expect to have your credit scores the lower than you would like them to be. An easy way to fix your credit is to simply pay down the balances on your credit cards.
If you do not have many open credit accounts, then by opening a few accounts, you will actually raise your credit ratings as well. Many people will use credit cards for this purpose and not even use the cards. If your credit ratings are not very high, then you can easily obtain secured credit cards as these do the exact same thing and will raise your credit ratings as well. It is a mistake to shut down lines of credit that have been seasoned for a few years, even if you are not using them.
You need to have some open lines of credit in order to have good credit ratings. If you have the temptation to spend and you have thought of shutting down your credit cards, simply cut them up but keep the accounts open. These open accounts help you maintain better credit ratings. Now if you have eight credit cards, you can shut down about four of them as that is too many cards for any person to have who wants to maintain high credit scores.
It is not easy to understand how credits scores are determined, but if you access the credit report from one of the services that will provide your three in one credit report, they give you information that will help you determine how you can maintain your scores and raise your scores using some tools that they include for your use.
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Credit Score Scale