Many find it hard these days to maintain an impressive credit report.
Whether it be to use for financing or getting better interest rates, having a nice credit score is very important.
Many often wonder what is considered a good credit score? The real answer is that this can often vary at times.
In a lenders perspective anything above a 680 is considered good, while above 720 is great, and excellent would be anything above 750.
Of course things can change as the economy gets better or worse.
As creditors keep raising interest rates then the value of a nice FICO score will increase as it gets more harder to come by.
FICO scores range from 300-850 while reaching 850 is near impossible, one certainly needs to know a few tricks to come even close.
It would seem as though the average credit profile would be in the ranges of 725 based on these numbers, but in reality it is much less than that.
In fact what is considered a good credit score would certainly be in the 725 ranges.
When someone starts out to build credit they are in the low 600's and the 3 credit bureaus that consist of Equifax, Trans Union and Experian, will deduct your credit points if you're not responsible.
The rules that determine what is considered a good credit score can also change as times progress.
To achieve a good credit score quickly you must understand that a little debt is actually good.
It's not just about paying it all off anymore, it's about showing you can accumulate debt and handle it responsibly.