My Credit Score is 685
, 2004
Summary of the Year's Headlines
Congratulations on checking your credit score - monitoring and improving that number is essential to helping to maintain sound financial health. Credit scores generally range from 300 to 850.
Most lenders view scores of 700 and above as being in the "good" range, according to myfico.com - the website of the three credit bureaus that compile credit scores. About 58% of Americans fall into that category.
“Credit scores range from 300 to 850, with scores of 700 and above as being in the good range”
The higher your score, the more likely you'll be approved for credit and come away with the best interest rate and terms. The good news is that your FICO score is constantly updated, so there are always ways you can improve it.
Experts agree that two of the best ways to boost your number are to pay bills on time (your payment history accounts for 35% of your score) and to keep credit balances low (outstanding debt accounts for another 30%). Other factors are length of credit history (15%), new credit (10%) and types of credit used (10%).
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