Discover How a Great Credit Score Can Transform Your Financial Opportunities
3 Surprising Benefits of a Great Credit Score
- Pay less for car insurance
- Get away with a smaller security deposit on a rental
- Easier time starting your own business
Great credit could work to your advantage. Read on to see how. Credit scores under the FICO model, the most popular one used today, range from 300 to 850. As you might imagine, a credit score of 850 puts you in a strong position to borrow. Meanwhile, within that range, Experian, one of the three credit bureaus, says that a FICO® Score of 740 to 799 is very good, while a score of 800 or above is excellent. If you have a credit score in the mid-700s or higher, it could mean that you might have no problem getting approved to borrow money. And you might score a more favorable rate on a loan than someone with a score of, say, 650.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.