What's a Good Credit Score?

When you apply for a loan or credit card, a lender will use your credit score to determine whether to approve a loan and at what interest rate. Credit scores generally range from 300 to 850, with anything below 620 considered a poor score. While each lender will determine what they consider to be a good credit score, typically anything over 700 is considered good.

How Your Score Is Calculated

Your score is calculated using information gleaned from your credit report including student loans, credit cards, auto loans, tax liens, inquiries, employment and bankruptcies.

Where to Find Your Score

You can contact any of the three financial institutions (Experian, TransUnion or Equifax) to learn your credit score.

How to Improve Your Score

The easiest way to improve your credit score is by paying all of your bills on time. You can also help boost your credit score by using a credit card regularly and paying the entire balance off each month.

Why Credit Scores Decrease

Late payments, default loans, unemployment, too much debt and/or too much credit can negatively affect your credit score.

Free Credit Report

A good credit score can nab you a significantly lower interest rate, saving you thousands. To ensure that your credit score is as high as it can be, stay on top of your credit report to ensure that the information is correct. Contact Experian, TransUnion or Equifax for your free annual credit report (the report is free; you have to pay to get your score).

Resources

• What is a Good Credit Score?
• Credit Score Basic FAQs