Credit Score Guide
Understanding credit scores and how to improve them
Credit Score Ranges
Credit scores typically range from 300 to 850. Understanding where your score falls can help you make better financial decisions.
Excellent
750-850
Good
670-749
Fair
580-669
Poor
300-579
Credit Score Factors
Your credit score is determined by several key factors. Understanding these can help you maintain or improve your score.
Payment History
35%Your track record of paying bills on time. Late payments can significantly impact your score.
Credit Utilization
30%The amount of credit you're using compared to your credit limits. Lower is better.
Length of Credit History
15%How long you've had credit accounts. Longer history generally means better scores.
Credit Mix
10%The variety of credit accounts you have, including credit cards, loans, and mortgages.
New Credit
10%Recent credit applications and opened accounts. Too many can lower your score.
Tips to Improve Your Credit Score
- Make all payments on time, every time
- Keep credit utilization below 30%
- Don't close old credit accounts
- Limit new credit applications
- Regularly check your credit report for errors
- Consider a secured credit card if building credit
- Set up automatic payments to avoid missing due dates
- Pay down existing debt
- Keep unused credit cards open to maintain a longer credit history
- Dispute any inaccuracies on your credit report