Sep 13, 2017

How Do I Get Good Credit?

Everything in today’s economy is run on credit. The amount of your mortgage loan is dependent on the condition of your credit score. Are you applying for a college student loan? Your credit score plays a major role in that request as well. This article will present the importance of having a good credit score, as well as some steps on how to maintain good credit.

What is Credit?

Your credit is defined by a three-digit score that runs between 300 and 850. Usually the score ranges are 30–549 as “Very Poor,” 550–649 as “Poor,” 650–699 as “Fair,” 700–749 as “Good,” and 750–850 as being “Excellent” ( If you ever apply for a mortgage, car/student loan, or even a credit card, the loan company will check your credit score before offering you a loan.

A Good Credit History

There are a variety of factors that affect the quality of your credit score. One important aspect when dealing with credit is having a good history of credit. If your credit history is lengthy, there will be more information for lenders to accurately assess your creditworthiness (

On-Time Payments

Another extremely important factor for maintaining good credit is the percentage of on-time payments to your credit card or loan. All companies provide a final day when you have to make a monthly or other scheduled payment. It’s important that you pay your bills on time to show lenders and creditors that you’re reliable and will pay back your debts ( One or two late payments could negatively affect your score significantly.

Number of Credit Accounts

How many credit accounts do you currently have open? According to, a big credit score factor is dependent on the total number of open accounts you have. If someone has more credit accounts, they might be more trusted since it’s proves they’ve been approved by more than one lender. But your responsibility is expected to increase with every additional account you open. It’s vital to stay on top of all your open accounts, just as you would be with simply one account. It’s also recommended not to open several new lines of credit if your only intention is to increase your credit score.

An excellent credit score is obtained with responsible monitoring. If you want to improve your credit, there are a variety of steps you can take; and every step you decide to make should be made with careful research and consideration. Once you follow through, you will be rewarded with a quality credit score and more flexibility in future purchases.


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