What Is Considered as Good Credit?

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A good credit score is considered to be any score given by the three reporting agencies that is above 640 on a scale of 800. Get good credit by paying bills on time and not maxing all lines of credit with tips from a registered financial consultant in this free video on credit.

Part of the Video Series: Money Management & Personal Finance
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Video Transcript

This is financial adviser Patrick Munro talking about what is considered as good credit. What is considered as good credit is basically having a credit score from the 3 reporting agencies that is to say Experian, EquiFax and TransUnion, of at least 640 on a scale of 800. That would be considered good credit. Anything above that would be considered excellent credit going forward. Getting these figures is always a challenge to make sure that you have the very best credit that you can achieve. The best way to have good credit is to make sure that you don't use too much of the credit that's available to you. Always keep the balances in line, pay your bills on time or even ahead of time if you possibly can. This will allow you a better opportunity going forward. Having good credit is also a responsibility because you will get a better financial future if you have credit that is worthy and it is interconnected into every faucet of American life. This is financial adviser Patrick Munro talking about what does it mean to have good credit.


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