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					You and Your Credit Score: What's The Good Number?



Have you ever wondered why people get denied for loans and why other people get approved for it
instantly? Have you ever wondered why some people are not accepted by some companies even though they
are qualified for the job?


If you answered yes to either of these questions, then you haven't heard about credit scores. Credit scores are
an important part of today's life. This particular three-digit number will determine whether you are likely to
pay the loan you will apply for or will pay the monthly bills.


If you have a low credit score, then getting a phone line hooked up in your house can be very difficult to do.
Some phone companies take a look at your credit score in order to determine if you will likely pay their
monthly bills or not. Sometimes, certain jobs will require you to have a high credit score. It is a fact that
people who are qualified for a certain job in a company are usually denied of the job because they have a
low credit score. This is why you should consider taking all the necessary steps to have a high credit score or
at least have a good credit score.


In the United States, Fair Isaac Corporation or FICO is the best known credit score model that calculates
your credit score. This company calculates your credit score by using mathematical formulas. It is a
calculation that is widely used by lenders, such as credit card companies and banks.


The FICO score is designed to provide information to lending companies if a particular person will likely
pay their bills or not. It will also contain reports of your past loan application and if you will be delinquent
in the next 2 years or the next 24 months.


There are also three credit reporting agencies existing in the United States today and uses their own methods
and formula to calculate your credit score. Each calculation differs, even if it was developed by FICO, and
are updated periodically that will reflect your repayment behavior. Also, lenders or creditors use whichever
calculation they want to use.


The FICO score ranges from 300 to 850. By having a high or good credit score, you will be able to access
low interest credit cards and also low interest loans. You will also have a higher chance of getting hired by
companies that require a good credit score.


You now ask what makes a good credit score number in the FICO score.


It is a fact that having a higher credit score is good. But you also have to know what makes a good number
that will guarantee you of getting approved for a credit card or a loan. In the FICO score, a good number is
at around 725.660. By having this kind of score, you will have a higher chance of getting approved for that
car loan, mortgage or for that credit card you have been applying for.
You can get your credit score from FICO or from the credit reporting agencies annually for free. Or, you can
also get your credit score as often as you want within the year for a fee.


Always remember that by having a good credit score number, you will be able to have access to low interest
loans, and credit cards. By having at least a 725.660 credit score, you will be deemed credit worthy. Make
sure you have a higher credit score in order to save thousands of dollars in terms of interest rates.




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posted:9/30/2011
language:English
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