What is a Good Credit Score?

This is a fair question and one that everyone would like to know. Unfortunately there is no single answer to that question. Of course the higher your score is the better but you have to realize that each lender makes their own cut off point depending on how much of a risk they are willing to take. Many lenders have a cut off point of a FICO score of 720 to give the consumer their best rates. Many have a cut off point of 620 for giving any loan. Usually anything under 620 can use some improvement, 650 can be seen as decent, once you hit 700 you can say you have *good* credit, 720 would be excellent and anything over that is even more excellent. Having a credit score of 700 will usually qualify you for most things you apply for, having a credit score of 720 will almost guarantee you to get what you want. Many people thing that that a credit score can be raised overnight but as with anything else it takes time. Just make your payments on time and your score will rise slowly but surely. Making more than your minimum payment will help it to grow faster. Another thing that will make it grow faster is not maxing out your accounts. Try to keep your balance on your credit card accounts at about 30% of your credit limit, going over this can stall your credit score from growing at the pace you may want it to grow. So if your credit score is 650 be happy, work your way from there and improve it, time is your best friend to make your score grow, of course and making timely payments.