The leading credit score is called the FICO ... basically the standard in the lending industry, and they range from 300 to 850.
And generally, if you’re in the 700-720 category or above, your credit scores are considered good. If you’re 750 to 760 and above, your credit scores are generally considered excellent ... so you want to make sure you’re paying all your bills on time.
You [also] want to pay down your credit card bill. This is essential. The way that FICO is set up, it’s extremely sensitive to people ‘maxing out’ their credit cards or other revolving lines of credit.
So that means that even if you pay your bill off in full every month, you still have to be careful about what those balances are.
Liz Pulliam Weston
AskLizWeston.com
Personal finance columnist and author
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