What is a good credit score? That’s a common question, and if you’re focused on maintaining good financial health then you should know the answer.
Your credit score is a three-digit number, ranging from 300 to 850, that reflects how responsible you are when it comes to managing credit and debt. When lenders consider your application for new credit, whether for a car loan or a mortgage, your credit score is one factor that affects approval decisions. It may also influence the interest rates lenders charge.
So make sure you understand what affects your credit score—and how your score measures up—as well as how to improve your credit score.