As for understanding your credit score, many people think that this is something they have only to worry when they are applying for credit.
What is considered an excellent credit score?
If your score is 760 or more, you are in the minority and have what is called an excellent credit. You are one of the few who can go and get a zero percent financing on cars that you see advertised on television, or to qualify for the best rates available. You can check here more about the credit card scores for the positive impact on your credit scores.
To fall within this range, you will have no negative marks on your credit, no bankruptcy, and no collection accounts. Everyone wants to be in the excellent category. That's why understanding your credit score is so vital.
What is a Credit Score Good?
A good score is considered a score of 700 to 759. This note is likely if you have had no late pays, no failure and no account collection.
You may have had in the past, but they have dropped your credit report and your score improved accordingly. Again, this is the score range that gets you the best deals in terms of funding.
What is a good credit score?
When you have a good credit score between 680 and 699, you are still considered a low risk and creditors are unlikely to turn you down for credit.
You may have had a few late payments in the past, but nothing major and all your accounts are current and you do not have recovery and bankruptcy accounts.