If you have a credit score of 800, it probably means you have a long credit history, have been making payments on time and keep a low credit utilization ratio. All this information shows lenders that you're likely to make good on your loan. According to a2021 survey conducted by Lending...
With the average American's FICO score at a record high, one thing is for certain: More people than ever can enjoy the advantages of a good credit score — as long as they maintain it. Below,Selectbreaks down what a 705 FICO score means and how a good credit score can help you in ...
A poor payment history means that you have a bad history of paying your credit cards and loans on time, if at all. Even one late payment on your credit cards can lower your score up to 110 points. After working hard to build your credit, this can be a huge blow. Therefore, ...
NerdWallet credit card expert Sally French goes over the basics of balance transfer credit cards. Generally speaking, you’ll need good to excellent credit to be approved for a balance transfer credit card. That’s roughly defined as a credit score of 690 or better. But credit scores alone do...
By far the biggest factors influencing score are your payment history and credit utilization. That means you need a track record — the longer, the better — of payments made by the due date. Aim to use less than 30% of your credit limits, and lower is better. There are some credit pr...
A High Credit Score Means More SavingsScott Gamm
For a 30-something, the average credit score is 690. Why do younger people have lower credit scores compared to people in their 50s and 60s? Young people often experience far lower credit scores compared to their older counterparts due to the lack of a significant credit and payment history....
Eligibility: A minimum personal income of $60,000 or a household income of $100,000 is required. It’s also recommended that you have a credit score of at least 700. Welcome bonus: Typically worth between 50,000 to 70,000 Aeroplan points. This bonus is usually divided into multiple parts...
Expert insights: What are the best credit cards of 2025? No one card will be “the best” for everyone, but certain cards will likely stand out based on your goals, spending habits, credit score and more. The 2025 Bankrate Award winners are a great place to start if you want to see...
If you have a high credit score, lenders will view you as less risky, which means you're more likely to be approved for a credit card, line of credit, or loan. You'll qualify for lower interest rates and higher credit limits.