Q.
What's considered a good credit score to aim for?
A.
A score above 620 is considered good, but 650 is better and 700 makes you more desirable when applying for a mortgage. On the other hand, a score lower than 580 will likely give you trouble. About 35 percent of your score is based on your payment history, and any old late payments (that nasty college phone bill!) will stay on your record for seven years after the original due date. The best way to improve your score is gradually: Make all your current minimum payments on time, pay any past debts, and keep card balances down to about 40 percent of your credit limit.
-- The Nest Editors
Dec 16, 2008
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