What is a Good Credit Score and Why Should it Matter to You

TIM THOMAS TIM THOMAS Learn more

Credit scores can have a profound impact on our finances. For example, a good credit score could mean better terms on your loan.

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What is a Credit Score?

Essentially, a credit score is a number ranging from 300 to 850 to help lenders determine the likelihood that you’ll pay your loan back to them.

What Factors Impact Your Credit Score?

Many factors can impact your credit score. Some more than others, but each aspect is just a piece of the puzzle when lenders look at the risk level associated with lending you their money.

Factors That Don’t Impact Your Credit Score

It is illegal to include race, religion, nationality, gender, and marital status when determining your credit score.

How Do I Get My Credit Scores?

There are many online options to see your credit score, and many are free. Some of the more popular options include CreditKarma.com, Credit.com, CreditSesame.com, and Wallethub.com.

Why Having a Good Credit Score is Important

Having a good credit score can be beneficial for several reasons. Most of these reasons revolve around your ability to secure getting new loans.

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