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You have an excellent credit score if your credit score falls within the 800 to 850 range for FICO — which is most commonly used by lenders — and the 781 to 850 range for VantageScore.
Any credit score below 580 is considered poor, 580 to 669 is fair, 670 to 739 is good, 740 to 799 is very good, and anything over 800 is excellent. Lenders will often view those with a score of ...
If you don’t have the cash on hand to pay down your credit cards, try requesting a credit line increase. Using the example above, if you increased your credit limit on one of your cards to ...
Credit utilization makes up about 30% of your FICO score, so it is important to keep the percentage low to show you can manage your finances well. 6. Keep Old Credit Card Accounts Open
FICO defines a good credit score as one that falls between 670 and 739, whereas anything above 800 is considered excellent. FICO credit scores between 580 and 669 are considered fair , and those ...
Event. Average credit score recovery time. Bankruptcy. 6+ years. Home foreclosure. 3 years. Missed/defaulted payment. 18 months. Late mortgage payment (30 to 90 days)
That said, debt consolidation loans and credit-builder loans are a better option if your main goal is to increase your credit score. ... If you have a FICO score below 670, you may want to think ...
For example, getting a 60-month new auto loan for $25,000 costs far more with a 500 credit score than with 700 credit score according to the MyFICO loan savings calculator. 500 credit score 700 ...