What is a good credit score and how can you maintain it?

The perks of having a good credit score are immense. You will not really understand until you maintain a good credit score and enjoy a smooth and hassle-free borrowing experience. It is an amazing way of handling the perfect borrowing experience without any expensive loan options or facing rejection when you need funds the most. A good credit score is above 750 and you can easily get any sort of loan when you have a score more than this. It is not an overnight miracle, but good credit activities will lead to a good score. If you want a good credit score, you need to follow certain things. You need to do a credit score check online for free. Here’s the credit score range that helps you to understand where you stand:

Credit score range

300-549: Having an Experian credit score in this range is not ideal in the slightest. There is a high chance that your loan application will get rejected. Even if it is rejected, you will always get a high rate of interest. You need to improve.

550-649: A credit score in this range is not a good one, but an average one. There will be problems in credit approval and the rate of interest will be high.

650-749: This is a good credit score and you may face little to no problems at all. You still have good areas of improvement. Apply For home improvement loans.

750-900: A credit score in this range gives you the best borrowing experience. You have the ball in your court and it will give you a smooth approval and a low rate of interest.

How to get a high credit score?

●        Pay your bills on time. Payment is a vital component in building a good credit score. You need to make sure you are paying your bills by the due date. It will be helpful for you to get a good score within a short period of time.

●        Don’t keep overdue: No overdue and outstanding is allowed in bill payments. You must pay the entire bill amount without paying just the minimum amount. This will keep you overdue and will harm your credit score.

●        Don’t apply for multiple loans: When you keep applying for new credit, you harm your credit score. The hard enquiry will decrease your credit score.

●        Don’t close credit accounts: Make sure you keep your credit accounts open. The long credit age is good for a perfect credit score.

Finishing up

Credit score check free online to stay updated about your current Experian credit score. It will help you be credit-ready so that you can apply for any credit account when you need instant funds.

Read More : Tips to increase your home loan eligibility