A credit score from 670 to 829 is considered to be a good credit score. It also exhibits the fact that you’ve been the responsible guy in meeting all of your registered liabilities, and your financial management skill is good.
However, a good score does not guarantee that you will be 100% successful in getting approval for your loan. But, it does help you in getting a good rating for the assessment process.
How can I improve my credit score?
It can be improved by showing responsible behavior towards financial liabilities. Make sure to consider the following factors in
Pay your bills on a timely basis.
Make sure you don’t miss the due date of utility bills, including phone charges and other expenses. These late payments are reported to the Bureaus that maintain a complete record and might affect your credit rating.
Never go out of the credit limit.
If you go out of your credit limit, it signals that your financial management skills are not good enough. Further, data from credit card companies and banks are reported immediately to the bureaus if there is any breach.
Monitor your reports
You are entitled to receive a free copy from each of the three bureaus once a year. So, try to get your free entitled copy from each of the bureaus after a fixed interval of four months.
How many credit bureaus in the United States
Broadly speaking, there are three credit bureaus in the United States. These include Equifax, Experian, and Trans Union. You are entitled to receive a free copy of your credit report once a year.
Keeping an eye on the credit reports is necessary to ensure any miscommunication between Bureaus and feeding authorities does not spoil your credit rating.
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