Credit-Score: How To Keep Yours Above Average!

Credit-Score: How To Keep Yours Above Average!

The first step in ensuring that your credit score is above average is to know what the credit scores mean in the first place so you know exactly where you stand with the lenders. Basically, a credit score above 800 is considered excellent to lenders, 750-800 is very good, 700-750 is good, 650-700 is fair (the average is around 678), 600-650 is bad, and a credit score below 600 is considered very bad to lenders. Having no credit at all is better than having bad credit since bad credit proves to them that you are unreliable. If you have a bad credit score because you fell victim to credit card fraud, or mistakes made by the credit card company, lenders will expect you to fix the mess before working with you.

The best (and easiest) way to keep your credit score high, of course, is to use your credit by using your credit card, but you must be responsible enough to not put more on your credit card than what you can pay. Be sure that you can at least pay the minimum requirement every month. Always pay on time without fail, and check your credit score often to protect yourself against ongoing credit card fraud and ongoing mistakes made by the credit card company. If you catch those things early, you can hopefully avoid a disaster and get your credit cleared up relatively quickly.

It can seem like such an easy thing to pay your required payments on time, and you may be asking yourself if that can really be all there is to having a credit score above the average since it seems almost too simple. The truth is, however, that lots of people do not have the willpower it takes to not put more on the credit card than what they can pay each month, even if it is the minimum payment. They may skip months of payment here and there and pay late lots of times due to unforeseen expenses they were not prepared for. It is therefore important to not only pay the required payment on time every month without fail, but to have some money saved up at all times in case of financial emergencies.

Find out your credit-score now!

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