A high credit score can make many aspects of your life more simple. You’ll have an easier time renting an apartment, securing a new line of credit, and you may even pay less for utility deposits and car insurance. 

Generally, a credit score of 700 or above is considered good. A score of 800 and above is excellent. According to Experian, most credit scores fall between 600 and 750. 

 

Credit score ranges
Image via Experian.com

Consumers with poor credit, generally considered to be less than 600, often seek ways to repair and improve their credit scores quickly. They often turn to the booming credit repair industry due to the quick fixes that companies promise. 

The truth of the matter is credit repair requires time and responsible management of finances. To improve your score, pay bills in full and on time, maintain low credit utilization, and pay off debt. You should also regularly review your credit report for accuracy and dispute any incorrect information

Credit repair companies that guarantee to erase bad credit or claim that they can create a new credit identity for you should not be trusted. 

Read this article for more credit repair red flags. 
 

Published on

August 15, 2017