What is a Good Credit Score?

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Credit scores can have a profound impact on our finances. For example, a good credit score could mean better terms on your loan.

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But, what is a credit score, and what is a good credit score to have? Let’s go through all the in’s and out’s of credit and how it can affect your finances.

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What Is a Credit Score?

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What Factors Impact Your Credit Score?

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How Do I Get My Credit Scores?

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Having a good credit score can be beneficial for several reasons. Most of these reasons revolve around your ability to secure getting new loans.

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What Is a Good Credit Score – FICO

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What Is a Good Credit Score – VantageScore

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How To Improve Your Credit Score

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Visit WealthyNickel.com to learn how to save money and invest!

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What is a Good Credit Score?

What is a Good Credit Score?

What is a Good Credit Score?

What is a Good Credit Score?

Credit scores can have a profound impact on our finances. For example, a good credit score could mean better terms on your loan.

But, what is a credit score, and what is a good credit score to have? Let’s go through all the in’s and out’s of credit and how it can affect your finances.

What Is a Credit Score?

Essentially, a credit score is a number ranging from 300 to 850 to help lenders determine the likelihood that you’ll pay your loan back to them.

What Factors Impact Your Credit Score?

Some more than others, but each aspect is just a piece of the puzzle when lenders look at the risk level associated with lending you their money.

How Do I Get My Credit Scores?

You can get a full credit report from each of the three credit bureaus once per year from AnnualCreditReports.com.

Having a good credit score can be beneficial for several reasons. Most of these reasons revolve around your ability to secure getting new loans.

Why Having a Good Credit Score Is Important

What Is a Good Credit Score – FICO

A “good” FICO score lies between 670 and 739. In 2021, the average credit score was 716, which falls into the “good” range according to FICO.

What Is a Good Credit Score – VantageScore

VantageScore also uses data from Equifax, Experian, and TransUnion to determine a credit score for consumers.

How To Improve Your Credit Score

To improve your credit score, you should focus on the factors the FICO and VantageScore use when determining your score.

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