Is 760 a good credit score? Before the financial downturn, it was a lot easier to get a loan with lower credit. Back then, if you had anything above a 680, you were set. It wasn’t necessary to try to raise your score because all creditors looked at you the same from that rating up. Now a days, that has all changed. Today, to be able to get the best possible loans, your credit score needs to be up around 760.
At first, you might think that it is not worth it to try and raise your credit rating even if you are around 680. The difference however could cost you hundreds of thousands of dollars. With the raise in the rating requirements, it is recommended that you start to work on increasing your credit score.
Even if you have a high score, here are a few tips to help you get that extra bit so you can sit comfortably about a 760 credit score.
Make sure that you check your credit score by getting your free annual credit report. Go through your report at least once a year and be sure to dispute any errors you find. And remember, you must file these errors with each credit monitoring bureau.
Although it is good to have very little debt, do not neglect your credit cards and have them get closed. Closing your long standing accounts could have a negative effect on your score which is not what you are working for.
Use your credit cards regularly but responsibly. Do not max out your cards. When you charge stuff on your credit cards, try to pay the balance off at the end of each month. This will strengthen your credit history while keeping your debt ratio low.
Getting your score up to a 760 may seem like a challenge. It will require a lot of discipline but anyone willing to put the work and effort into it will be able to get there.