What Is a Good Credit Score?
A good credit score plays an important role in the financial management of all individuals. It brings a lot of benefits and opportunities for borrowers because it shows lenders or credit card issuers your creditworthiness. The higher your credit scores, the higher the chance of getting a loan with good conditions. Borrowers with a poor credit history are more likely to be denied a loan. Good credit scores may differ in three major credit bureaus (Experian, Equifax, and TransUnion). Usually, credit scores range from 300 to 850, and a good credit score is around 700 and above. It is calculated using information from your entire credit report. What Is a Good FICO® Score? Fico Score is a credit scoring model that indicates your creditworthiness. High FICO scores show that the…