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What Is A Good Credit Score - How Can I Raise Mine?
By Peter Crump,

What is a good credit score? When you request a free copy ofyour credit report, you will find a score assigned to yourcredit history. This score will determine whether or notcreditors will grant you the loan or credit that you wantbecause it gives them an idea of your risk to repay. Generally,the answer to the question "what is a good credit score?" is thehigher the better.

Once you have your credit report in your hands your firstquestion should be "What is a good credit score and what is mycredit score?" Each credit bureau has its own method ofcomputing the credit scores and by themselves they don't reallymean much. When the score is combined with your credit history,creditors can see at a glance how much money you owe and whetheror not you have a good score. The scores range from 350 to 650,so if you are in the lower end of the score, then you willprobably start to wonder "how can I raise my credit score?"

Using the mortgage industry as an example, if you ask what is agood credit score, the answer will be close to 650. If you are alot lower than that, your chances of getting a loan to buy ahouse may be slim. If you ask about improving your credit score,then you will find that counsellors will tell you to pay yourbills on time and try to pay them off. The less bills you have,the greater your chances of getting the loan you want.

You might not realize it, but applying too often for credit doesaffect your credit score. Your credit report

contains the namesof all the people who have requested your credit report, sohaving a long list of names in this section will not help youimprove your credit score. Most consumers have the idea thatwhen they ask what is a good credit score, they will find outthat a lower number is better. You might also find that yourscore with one credit bureau is better than another depending onthe creditors that deal with each one.

Moving many times also affects your credit score. Even thoughyou pay your bills on time and are able to manage another loan,you may have to ask yourself how can I raise my credit score.When creditors see a lot of addresses, they assume you havetrouble paying the rent. When you ask what is a good creditscore, you also need to ask what factors affect the creditscore. When you scan the credit report to see what your creditscore is, you also need to look at all the bills and the numberof times you were late with the payments. The next time yourequest a credit report, you will be anxious to see the scoreand you won't have to ask what is a good credit score.

What is a good credit score? It's all relative, but contrary topopular belief it is not "the lower the better".

About the author:To find out more about Credit Repair visit Peter's WebsiteCredit Repair Answers at http://www.credit-repair-answers.com/and find out about Credit Bureaus and more, including CreditRepair Services, Free Credit Reports and Online Credit Repair athttp://www.credit-repair-answers.com/credit-bureaus.html

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