What is a good credit score? Your good credit score resonates all through your financial life. Good credit history affects your ability to finance a car, get a mortgage, and whether you will pay double for having bad credit. Are you striving to make your credit score better? Are you looking for a guideline to give it a boost?
Here’re some proven ways for raising credit score across the board:
- Keep your credit card balance low - less than 19% of your total credit line
The ‘FICO’ scores are the highly popular credit scoring technique employed by the lenders. It weighs thirty percent of overall credit score on current amounts due on your credit accounts. Ten percent utilization of credit is considered ideal while improving credit scores. Simply having a credit card in good standing can add as much as 50 points to your score. Don't have any credit and you're a college student? Wells Fargo offers student credit cards.